Mr. P. Peter Pascali reports

PYROGENESIS COMPLETES PURCHASE OF ITS TURCOT MANUFACTURING FACILITY

PyroGenesis Inc. has completed its purchase of the property located at 5655 Philippe-Turcot, Montreal, Que., the company's manufacturing facility. The company plans to remain in the facility and is in discussions with interested parties regarding a sale-leaseback.

As previously reported by the company (news release dated May 14, 2026), PyroGenesis signed a binding agreement settling out of court its action in the Superior Court of Quebec. In that action, the company sought an order requiring the owner of the Turcot facility to convey title under PyroGenesis's existing contractual option to purchase, which the owner had contested. The settlement concluded all legal proceedings, with PyroGenesis prevailing in its right to acquire the property for $3.1-million. Following the successful completion of a comprehensive environmental assessment of the building and its surrounding property, and the closing of financing, the acquisition has been completed, and PyroGenesis is the lawful owner of the building.

The 40,902-square-foot (3,800-square-metre) Turcot facility is located approximately 10 minutes (6.2 kilometres) from the company's downtown Montreal headquarters. PyroGenesis occupies the entire building, which houses manufacturing activities, research and development programs, pilot plant systems, metal powder production, testing apparatus, and office space. Having occupied the property since Sept. 1, 2012, the company plans to remain in the facility and continue operations under a lease agreement.

"The completion of this purchase secures our key manufacturing facility for the long term," said P. Peter Pascali, president and chief executive officer of PyroGenesis. "We believe we have acquired the property at a discount to its current market value based on prevailing leasing rates and other market benchmarks. With the acquisition now complete, we can now pursue a sale-leaseback at our own pace. Our goal is to unlock the building's value while maintaining operations at this strategic location. The net proceeds from a sale-leaseback will provide additional capital to accelerate projects across our various business segments."

About PyroGenesis Inc.

PyroGenesis leverages 35 years of plasma technology leadership to deliver advanced engineering solutions to energy, propulsion, destruction, process heating, emissions and material development challenges across heavy industry and defence. Its customers include global leaders in aluminum, aerospace, steel, iron ore, utilities, environmental services, military and government. From its Montreal headquarters and local manufacturing facilities, PyroGenesis's engineers, scientists and technicians drive innovation and commercialization of energy transition and ultrahigh temperature technology. PyroGenesis's operations are ISO 9001:2015 and AS9100D certified, with ISO certification maintained since 1997. PyroGenesis's shares trade on the Toronto Stock Exchange (PYR), the OTCQX (PYRGF) and the Frankfurt Stock Exchange (8PY1).

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