P. Peter Pascali, President and Chief Executive Officer of PyroGenesis, has increased his ownership in the company to 30.34% by acquiring 5,882,352 units through a non-brokered private placement. The transaction, completed on June 8, 2026, involved the purchase of units comprising one common share and one common share purchase warrant each. This acquisition raises Pascali's total beneficial ownership to 68,415,109 common shares, representing a significant increase from his prior holding of 28.48%.

Prior to the transaction, Pascali beneficially owned and controlled 56,805,357 common shares, representing 25.87% of the issued and outstanding shares. Additionally, he controlled 5,636,000 common shares as the executor of the estate of Petros P. Pascali and 91,400 common shares beneficially owned by The 2% Solution Foundation. These holdings, combined with the new acquisition, solidify his position as a major shareholder in PyroGenesis.

Ownership Details

The following table outlines Pascali's ownership structure before and after the transaction:

Additional Securities and Potential Ownership

Pascali also holds options and warrants that could further increase his ownership. He beneficially owns and controls options to acquire 3,570,000 common shares, of which 3,495,000 are vested. Additionally, he holds 11,130,572 warrants to acquire common shares. If all vested options and pre-closing warrants are exercised, his total ownership would increase to 77,158,329 common shares, or 32.94% of the issued and outstanding shares.

Assuming the exercise of all vested options, pre-closing warrants, and the completion of the transaction, Pascali's total ownership could rise to 88,923,033 common shares, representing 36.15% of the issued and outstanding shares. The Trust, the Estate, and the Foundation may be considered joint actors with Pascali, who serves as trustee, executor, and director, respectively.

An updated early warning report (Form 62-103F1) has been filed and is available under PyroGenesis' SEDAR profile. Pascali and any joint actors may acquire or dispose of securities depending on market conditions and other factors.