P. Peter Pascali Expands Ownership Position in PyroGenesis Following Strategic Investment

MONTREAL, Canada — June 8, 2026 — P. Peter Pascali, President and Chief Executive Officer of PyroGenesis Inc., has filed an updated Early Warning Report after increasing his ownership position in the company through participation in a non-brokered private placement. The transaction reflects Pascali’s continued confidence in the long-term growth strategy and future prospects of the advanced engineering and technology company.

Acquisition of More Than 5.8 Million Units

According to the filing, Pascali acquired 5,882,352 units of PyroGenesis as part of the company's recently completed private placement financing. Each unit consisted of one common share and one common share purchase warrant, allowing the holder to acquire an additional common share under specified conditions in the future.

The acquisition resulted in Pascali directly obtaining 5,882,352 additional common shares, significantly increasing his ownership interest in the company. The updated disclosure was filed in accordance with Canadian securities regulations governing early warning reporting requirements.

Ownership Position Rises Above 30%

Before the completion of the transaction, Pascali beneficially owned and controlled approximately 56.8 million common shares of PyroGenesis. In addition, he exercised control over shares held through the Estate of Petros P. Pascali and The 2% Solution Foundation.

Collectively, these holdings represented approximately 62.5 million common shares, equal to about 28.48% of the company’s issued and outstanding shares.

Following the completion of the private placement investment, Pascali’s total ownership increased to approximately 68.4 million common shares, representing roughly 30.34% of all outstanding shares of PyroGenesis. This increase pushed his ownership stake above the 30% threshold, further strengthening his position as the company's largest shareholder and chief executive.

Additional Options and Warrants Held by Pascali

Beyond his direct share ownership, Pascali also maintains substantial holdings through stock options and warrants issued under the company's compensation and incentive programs.

As disclosed in the report, he currently holds options to acquire approximately 3.57 million common shares, of which nearly 3.5 million options are already vested. In addition, he owns more than 11.1 million warrants that can be exercised to purchase additional PyroGenesis common shares in the future.

These securities provide Pascali with the potential to further increase his ownership position if exercised, depending on market conditions and strategic considerations.

Potential Ownership Under Full Dilution Scenario

The filing also outlines several hypothetical ownership scenarios based on the exercise of vested options and outstanding warrants.

Scenario 1: Exercise of Existing Vested Options and Warrants

If Pascali were to exercise all vested options and existing warrants currently under his control, his total ownership could increase to approximately 77.2 million shares, representing about 32.94% of the company's outstanding shares on a fully diluted basis.

Scenario 2: Exercise of All Securities Related to the Transaction

If Pascali exercises all vested options, pre-existing warrants, and all warrants acquired through the recent private placement, his ownership position could rise to approximately 88.9 million shares. Under this scenario, his total stake would represent approximately 36.15% of PyroGenesis' issued and outstanding shares.

This potential increase demonstrates the significant long-term influence Pascali could maintain within the organization if all available securities are converted into common shares.

Role of Related Entities and Joint Actors

The filing further notes that several entities may be considered joint actors alongside Pascali under applicable securities regulations.

These include:

• The Estate of Petros P. Pascali
• The 2% Solution Foundation
• Certain trust structures associated with Pascali

Pascali serves in various capacities within these entities, including trustee, beneficiary, executor, executive officer, and director. As a result, securities held by these organizations may be attributed to his overall ownership calculations for regulatory reporting purposes.

Strategic Significance of the Investment

The transaction is being viewed by market observers as a strong signal of management confidence in PyroGenesis and its future business opportunities.

Corporate insiders often possess the deepest understanding of a company's operational performance, growth prospects, technology pipeline, and strategic initiatives. Significant insider purchases can therefore attract investor attention because they may indicate a positive outlook from senior leadership.

By committing additional capital through the private placement, Pascali has reinforced his financial alignment with shareholders while increasing his exposure to the company's future performance.

About PyroGenesis

PyroGenesis is a Canadian technology company specializing in advanced engineering solutions and ultra-high-temperature processing systems. The company develops proprietary technologies serving a range of industries, including:

• Heavy industry
• Defense and aerospace
• Metallurgy
• Additive manufacturing
• Environmental solutions
• Materials processing

PyroGenesis has gained recognition for its plasma-based technologies and innovative solutions designed to improve efficiency, sustainability, and performance across industrial applications. The company is publicly traded on the Toronto Stock Exchange under the symbol PYR and also trades internationally.

Future Ownership Changes Remain Possible

The updated Early Warning Report notes that Pascali and any associated joint actors may continue to acquire or dispose of securities of PyroGenesis in the future. Such decisions could be influenced by various factors, including market conditions, investment objectives, strategic opportunities, corporate developments, and regulatory considerations.

As required under Canadian securities legislation, any material changes in ownership levels may result in additional regulatory filings and public disclosures.

Investor Takeaway

The latest filing highlights a significant increase in insider ownership at PyroGenesis. Through the acquisition of more than 5.8 million units, CEO P. Peter Pascali increased his total ownership position from 28.48% to 30.34%, while maintaining the potential to raise that stake further through the exercise of options and warrants.

The transaction underscores management’s commitment to the company and provides investors with insight into the confidence senior leadership places in PyroGenesis’ future growth trajectory. As the company continues to expand its advanced technology offerings and industrial partnerships, market participants will likely continue monitoring insider activity as an indicator of long-term strategic direction.

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