Page 1

CEMATRIX Cellular Concrete Solutions CEMATRIX Announces 2020 Fourth Quarter and Annual Results Calgary , Alberta – April 14 , 2021 – CEMATRIX Corporation ( TSXV : CVX ) ( " CEMATRIX " or the " Company " ) a North American leading manufacturer and supplier of technologically advanced cellular concrete products announced the release of its consolidated financial results for the year ended December 31 , 2020 . " We are pleased to report to our shareholders that 2020 was another year of record revenue , despite the very challenging global pandemic ( " COVID " ) , " stated Jeff Kendrick , President and CEO of CEMATRIX . " I want to thank all our employees at CEMATRIX , particularly our field staff , for staying safe and making our success possible through hard work and dedication . The early impacts from the COVID situation were minimal as our business was considered an essential service in North America . As the year continued , particularly the fourth quarter , we experienced project delays in response to the COVID situation . The reduction in sales due to project delays was particularly evident in Canada where Canadian sales were down 50 % from the previous year . Fortunately , no CEMATRIX projects were cancelled anywhere in North America . " " Despite the challenging business climate , CEMATRIX was able to maintain our staff levels , leaving the Company well positioned for growth , including a strong growing backlog of $ 94.4 million , and the backing of our recently completed $ 23 million financing . The funds raised in this financing will enable CEMATRIX to accelerate its strategic plan , including the repayment of high interest debt , regional expansion and the pursuit of acquisitions that will add to the company's growth and value , ” concluded Mr. Kendrick . The following are the business and financial highlights for the year and quarter : Business highlights for the year : • • • • In February 2020 , CEMATRIX announced that it was awarded one of the largest ever tendered projects in the cellular concrete market in North America , a $ 12.3 million U.S. infrastructure project in North Carolina In April 2020 , in the midst of the growing COVID crisis , CEMATRIX successfully completed a convertible debenture financing in the amount of $ 5.5 million In December 2020 , CEMATRIX was awarded an even larger U.S. project , a $ 23.5 million USD infrastructure project in Missouri Subsequent to year end , in March of 2021 , CEMATRIX completed an equity financing in the amount of $ 23 million in gross proceeds to support its plans for regional growth in the U.S. and its continued pursuit of acquisition opportunities Financial highlights for the fourth quarter : • • • Revenue decreased to $ 4.4 million in Q4 2020 versus $ 5.3 million in Q4 2019 due to project delays resulting from the pandemic Operating Loss in Q4 2020 increased to $ 1.5 million versus $ 0.5 million in Q4 2019 Adjusted EBITDA decreased to $ 1.3 million in Q4 2020 versus $ 2.9 million in Q4 2019 Cash generated from operating activities increased to $ 1.1 million in Q4 2020 versus $ 0.6 million in Q4 2019 Unusual one - time / non - cash item in the fourth quarter and the year : • In the fourth quarter , the Corporation recorded a $ 6.0 million non - cash fair value adjustment expense and a corresponding increase in current liabilities under the current portion of