Meta Materials Named One of Canada's Clean Technology Winners in Deloitte's Fast 50 Program

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Meta Materials Inc. (NASDAQ: MMAT) has been recognized as one of Canada's top clean innovators in Deloitte's Technology Fast 50 program, winning a Clean Technology award. CEO George Palikaras attributes the company's triple-digit growth to its advanced nanomaterials aimed at addressing a market projected to reach $10.7 billion by 2030 in sectors like 5G and autonomous vehicles. The award highlights META's commitment to sustainability through energy-efficient products that reduce environmental impact.

Positive

• Recognized as a top clean innovator in Deloitte's Technology Fast 50 program.
• Triple-digit growth attributed to advanced functional materials.
• Potential market opportunity estimated at $10.7 billion by 2030.

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• None.

HALIFAX, NS / ACCESSWIRE / November 16, 2022 / Meta Materials Inc. (the "Company" or "META®") (NASDAQ:MMAT)(FSE:MMAT), a developer of high-performance functional materials and nanocomposites received a Clean Technology award as part of Deloitte's Technology Fast 50 program. Launched last year, the new award leadership category recognizes Canada's top clean innovators providing processes, goods, or services that reduce environmental impacts.

George Palikaras, META's President & CEO, credits the Company's triple digit growth to its ability to design and manufacture functional materials with properties that go beyond what is found in nature. META's nanomaterials are addressing a market opportunity estimated to reach $10.7 billion by 2030 in 5G networks, autonomous vehicles, connected vehicles, and more.

"We are proud to be named one of Canada's Clean Technology winners in Deloitte's Technology Fast 50™ program, and would like to congratulate all the winners," said George Palikaras, President and CEO. "META continues to push the boundaries of performance and sustainability in products. We design and manufacture highly functional materials and devices which use less energy, less materials, and improve supply chains by replacing scarce metals for a wide range of industries. For example, our 5G application is the only solution to enhance 5G communications range with no power consumption. Our battery materials are making next generation Li-Ion batteries safer, by eliminating thermal runaway."

"These outstanding companies are amongst the elite of Canada's clean technology sector, developing and bringing to market innovations that create a more resilient and sustainable future for the environment," stated Anders McKenzie, partner, and national leader for the Technology Fast 50 program at Deloitte Canada. "With ever-increasing business opportunities to reduce our carbon footprint, make energy efficiency gains, and accelerate the deployment of renewable energy sources, these winners distinguish themselves in a highly promising and dynamic space. They represent a cohort of innovators who are contributing to the environment and helping to create a sustainable business and technology landscape in Canada."

Eligibility in the Clean Technology category requires applicants to meet the same criteria as for Technology Fast 50 nominees except they must have a minimum revenue of $50,000 in 2018 and $5 million in 2021. The winning companies are ranked by their revenue-growth percentage over that period.

The majority of the companies' revenues must come from products or services that have a positive environmental impact in the following areas: carbon emissions reduction potential, resource circulation (reduce, reuse, and recycle), or environmental preservation and safety.

This year marks 25 years since the establishment of Deloitte's Technology Fast 50 award program in Canada.

About the Deloitte Technology Fast 50™ program
The Deloitte Technology Fast 50 program is Canada's pre-eminent technology awards program. Celebrating its 25th anniversary, the program recognizes business growth, innovation, and entrepreneurship in four distinct categories: Technology Fast 50 ranking, Enterprise Fast 15, Clean Technology, and Companies-to- Watch. The program also recognizes companies within the North American Technology Fast 500 ranking, identifying thriving technology companies in the United States and Canada. The 2022 program sponsors include Deloitte, RBCx, Osler, EDC, CBRE, Vector Institute, Council of Canadian Innovators (CCI), Clarity Recruitment, Lafond, and TMX. For further information, visit www.fast50.ca.

About Meta Materials Inc.
META® delivers previously unachievable performance, across a range of applications, by inventing, designing, developing, and manufacturing sustainable, high-performance, functional materials. Our extensive technology platform enables leading global brands to deliver breakthrough products to their customers in consumer electronics, 5G communications, health and wellness, aerospace, automotive, and clean energy. Our nano-optic metamaterial technology provides anti-counterfeiting security features for government documents and currencies and authentication for brands. Our achievements have been widely recognized, including being named a Lux Research Innovator of the Year in 2021. Learn more at www.metamaterial.com.

Forward-Looking Information
This press release includes forward-looking information or statements within the meaning of Canadian securities laws and within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, regarding the Company, which may include, but are not limited to, statements with respect to the ability of the Company to continue to meet the Nasdaq requirements to maintain a Nasdaq listing, the business strategies, product development, expansion plans and operational activities of the Company. Often but not always, forward-looking information can be identified by the use of words such as "pursuing", "potential", "predicts", "projects", "seeks", "plans", "expect", "intends", "anticipated", "believes" or variations (including negative variations) of such words and phrases, or statements that certain actions, events or results "may", "could", "should", "would" or "will" be taken, occur or be achieved. Such statements are based on the current expectations and views of future events of the management of the Company and are based on assumptions and subject to risks and uncertainties. Although the management of the Company believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. The forward-looking events and circumstances discussed in this release may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting the Company, the capabilities of our facilities and the expansion thereof, research and development projects of the Company, the total available market and market potential of the products of the Company, the market position of the Company, the need to raise more capital and the ability to do so, the scalability of the Company's production ability, capacity for new customer engagements, material selection programs timeframes, the ability to reduce production costs, enhance metamaterials manufacturing capabilities and extend market reach into new applications and industries, the ability to accelerate commercialization plans, the possibility of new customer contracts, the continued engagement of our employees, the technology industry, market strategic and operational activities, and management's ability to manage and to operate the business. More details about these and other risks that may impact the Company's businesses are described under the heading "Forward-Looking Information" and under the heading "Risk Factors" in the Company's Form 10-K filed with the SEC on March 1, 2022, with an SEC filing date of March 2, in the Company's Form 10-Q filed with the SEC on November 9, 2022, and in subsequent filings made by Meta Materials with the SEC, which are available on SEC's website at www.sec.gov. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on any forward-looking statements or information. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and the Company does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except to the extent required by law.

Media Inquiries
Rob Stone
Vice President, Corporate Development and Communications
Meta Materials Inc.
media@metamaterial.com

Investor Contact
Mark Komonoski
Senior Vice President
Integrous Communications
Phone: 1-877-255-8483
Email: ir@metamaterial.com

SOURCE: Meta Materials Inc.

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FAQ

What recent award did Meta Materials Inc. receive?

Meta Materials Inc. was recognized as one of Canada's top clean innovators in Deloitte's Technology Fast 50 program.

What is the market opportunity for Meta Materials Inc.'s products?

The market opportunity for Meta Materials Inc.'s products is estimated to reach $10.7 billion by 2030.

Who is the CEO of Meta Materials Inc.?

The CEO of Meta Materials Inc. is George Palikaras.

What sectors do Meta Materials Inc.'s products target?

Meta Materials Inc.'s products target sectors such as 5G networks and autonomous vehicles.

What does the Clean Technology award recognize?

The Clean Technology award recognizes companies developing processes, goods, or services that reduce environmental impacts.