PyroGenesis Announces $3.0 Million Bought Deal LIFE Offering and Concurrent CEO Private Placement of up to $2.0 Million

Montreal, Quebec--(Newsfile Corp. - May 19, 2026) - PyroGenesis Inc. (TSX: PYR) (OTCQX: PYRGF) (FRA: 8PY1) ("PyroGenesis" or the "Company"), a leader in ultra-high temperature processes and engineering innovation, and a plasma-based technology provider to heavy industry & defense, announces today that it has entered into an agreement with Research Capital Corporation ("RCC") to act as the sole underwriter and sole bookrunner (the "Underwriter"), pursuant to which the Underwriter has agreed to purchase, on a "bought deal" basis pursuant to the Listed Issuer Financing Exemption ("LIFE"), 8,825,000 units of the Company (the "Units") for aggregate gross proceeds to the Company of $3,000,500 (the "Offering") at a price per Unit of $0.34 (the "Offering Price"). Each Unit will consist of one common share of the Company (a "Common Share") and one Common Share purchase warrant of the Company (a "Warrant").