Progressive Planet's Strategic Partner ZS2 Technologies Awarded $2.6 Million Grant for Direct Air Capture Technology Development

/NOT FOR DISTRIBUTION IN THE USA/

KAMLOOPS, Feb. 21, 2023 - Progressive Planet (TSXV: PLAN) (OTCQB: ASHXF) ("Progressive Planet", "PLAN", or the "Company"), a strategic partner and investee company with ZS2 Technologies ("ZS2"), would like to extend its congratulations to ZS2 for being awarded a $2.6 million grant to develop direct air capture technology.

On February 16, 2022, Sustainable Development and Technology Canada ("SDTC"), a federal Crown corporation, announced that ZS2 Technologies had been awarded the grant to develop direct air capture technology. ZS2's ground-breaking work involves permanently removing CO2 from the atmosphere and incorporating it into high-performance cement building materials.

PLAN had previously announced a supply agreement with ZS2 to provide 24 tonnes of PozGlass™ SCM and PozZeo™ SCM to ZS2 over a twelve-month period, with an expected monthly supply of roughly two tonnes. However, PLAN has now received a purchase order and will be shipping a full truck of PozZeo, totalling 26 tonnes, to ZS2's new pilot plant in Calgary this week. PozZeo is produced from fines created during the production of the Company's Z-Lite® Feed Additive.

"Our value proposition when we purchased the Kamloops-based business with a 30-year track record was to leverage the acquired business's in-house manufacturing capabilities, established product line, revenues, and distribution network that would accelerate the expansion of our proprietary technologies in the cement and chemical fertilizer replacement sectors. While we focus on growing the legacy business, we will continue to develop new markets for mineral powders as we focus on growing our legacy business," states Steve Harpur, President and CEO of PLAN.

"Our ongoing collaboration with Progressive Planet to accelerate the development and commercialization of sustainable, resilient and cost-effective building technologies is going to accelerate with the support from SDTC" commented Scott Jenkins, ZS2 CEO. "The recognition and support from SDTC is further validation, along with our recognition from X-Prize as a Milestone Finalist, that our technologies, which include high-performance materials from Progressive Planet, are truly leading edge."

PLAN provides regular information for investors on its website: progressiveplanet.com/investors/. This includes press releases and other information about financial performance, patents filed, and information on corporate governance.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.

We are a well-established manufacturing and innovation company based in Kamloops, British Columbia. Our expertise lies in the research, design, development, manufacturing, integration, and sustainment of cutting-edge absorbent products, animal agriculture products, regenerative fertilizer products, and environmentally friendly cement products. Our team is driven by a passion for creating positive environmental impact through disruptive innovation, and we are committed to producing products that help people "live, grow, and build better."

ZS2 Technologies Ltd. develops and manufactures proprietary advanced building technologies including fire-rated, non-toxic, low-carbon cementitious building materials and prefabricated structural panels. ZS2 delivers high-performance building solutions for the residential, commercial, industrial, agriculture, healthcare and assisted living industries in Canada and the United States both directly and through a growing network of TechPartners (distribution partners).

Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the matters described herein. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance, or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including factors beyond the Company's control. These forward-looking statements are made as of the date of this news release.

This news release, required by Canadian laws, does not constitute an offer of securities and is not for distribution or dissemination outside Canada.

SOURCE Progressive Planet Solutions