Meta Materials Inc.

Leveraging META's patented NANOWEB® designs and Panasonic Industry's proprietary process technology to deliver on new automotive and consumer electronics applications

NOVA SCOTIA, CANADA and OSAKA, JAPAN / ACCESSWIRE / September 29, 2023 / Meta Materials Inc. (the Company or META) (NASDAQ:MMAT), an advanced materials and nanotechnology company and a leading solution provider in the field of multi-functional transparent conductive materials, and Panasonic Industry Co., Ltd. (Panasonic Industry), an operating company in charge of device business within the Panasonic Group with a proprietary and scalable process technology which delivers fine line low resistance and high transparency conductive films, have been jointly developing a strategic collaboration from design to mass production. This joint effort is expected to strengthen the supply of NANOWEB® films and accelerate the growth of the transparent conductive film industry, offering new applications for the automotive and consumer electronics sectors, such as transparent film antennas, transparent film heaters, and transparent film electromagnetic shielding.

Today there is an emerging need for ultra-low sheet resistance and high optical performance, especially required for large area applications such as flexible solar cells, smart windows for next generation communications and transparent heaters for automotive applications. According to BCC Research, the global market for transparent conductive films is projected to grow at a 9.2% CAGR, from $4.9 billion in 2020, to $7.6 billion by 2025.

"Our strategic collaboration with Panasonic Industry represents a pivotal moment for META. We have selected Panasonic Industry to mass produce our patented designs due to their outstanding process technology, coupled with their automotive-grade quality, which supports our common goal to expand the transparent conductive materials sector," stated George Palikaras, President and CEO of META. "This collaboration allows us to pool our collective know-how, setting new benchmarks for the industry."

Panasonic Industry's low resistance and high transmittance transparent conductive film has been mass-produced since 2018 in response to the demand for high performance and upsizing touch sensors. META has been successfully working with Panasonic Industry under a Master Services Agreement for several months, resulting in the successful qualification and production of several NANOWEB® proprietary designs for various applications.

Panasonic Industry's Director of Touch Solutions Business Unit Yuichi Yoshikawa, expressed equal enthusiasm about the collaboration, stating, "We are excited to join forces with META to push the boundaries of transparent conductive materials. This collaboration will be able to provide unprecedented value to the world with the most advanced solutions. Together, we will create new possibilities for various applications, and the industry."

The collaboration between META and Panasonic Industry combines the design power of NANOWEB® metal mesh designs with Panasonic Industry's leading proprietary and scalable process technology in transparent conductive films. Together, they will offer cutting-edge alternatives that surpass industry standards and set new benchmarks.

Panasonic Industry and Meta Materials will be showcasing at the Panasonic Industry booth at CEATEC 2023, Japan's leading comprehensive technology exhibition, from October 17 to 20, 2023. The partners will demonstrate a microwave oven with a transparent EMI shielding window, transparent antennas, and transparent heaters for deicing and defogging of automotive ADAS sensors. These demonstrations will highlight the superior performance and versatility of the metal mesh solutions developed through this collaboration.

About Us:

Meta Materials Inc. (META) is an advanced materials and nanotechnology company. We develop new products and technologies using innovative sustainable science. Advanced materials can improve everyday products that surround us, making them smarter and more sustainable. META® technology platforms enable global brands to develop new products to improve performance for customers in aerospace and defense, consumer electronics, 5G communications, batteries, authentication, and automotive and clean energy. Learn more at www.metamaterial.com.

Panasonic Industry Co., Ltd. was established on April 1, 2022, as an operating company in charge of the device business within the Panasonic Group in line with its shift to an operating company system. The mission of the company states that "We will open the way to a better future and continue to contribute to an affluent society through a variety of device technologies." On a global basis, the company has about 42,000 employees and achieved net sales of 1,149.9 billion yen for the fiscal year ended March 31, 2023. Against the backdrop of a labor shortage in manufacturing, the explosion of data with the rise of the information-based society, and greater demands for the environment and safety for the mobility society, the company will focus on areas where ongoing evolution is required and continue to provide customer value with distinctive features of unique material and process technologies such as capacitors, compact servomotors, EV relays, and electronic materials. Learn more about Panasonic Industry at https://www.panasonic.com/global/industry.

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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

Panasonic Industry Press Contact

Corporate Communication Team
Management Planning Department
Panasonic Industry Co., Ltd.
Email: press-industry@ml.jp.panasonic.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 META, which may include, but are not limited to, statements or implications with respect to the business strategies, product development, expansion plans and operational activities of META.

This press release also includes forward-looking information or statements about Panasonic Industry. To the extent that information or statements in this press release do not relate to historical or current facts, they constitute forward-looking information or statements for Panasonic Industry.

Often but not always, forward-looking information or statements may 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 META and Panasonic Industry and are based on assumptions and subject to risks and uncertainties. Although the management of META and Panasonic Industry believe 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 META and Panasonic Industry, the capabilities of our facilities and the expansion thereof, research and development projects of META and Panasonic Industry, the total available market and market potential of the products of META and Panasonic Industry, the market position of META and Panasonic Industry, the need to raise more capital and the ability to do so, the scalability of META's and Panasonic Industry'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 META's businesses are described under the heading "Forward-Looking Information" and under the heading "Risk Factors" in META's 10-K filed with the SEC on March 23, 2023, in META's Form 10-K/A filed with the SEC on March 23, 2023, with an SEC filing date of March 24, in META's Form 10-Q filed with the SEC on August 9, 2023,and in subsequent filings made by Meta Materials Inc. with the SEC, which are available on the SEC's website at www.sec.gov.

Although the META and Panasonic Industry have attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information or 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 information or statements. No forward-looking information or statements can be guaranteed. Except as required by applicable securities laws, forward-looking information or statements speak only as of the date on which they are made and META and Panasonic Industry do not undertake any obligation to publicly update or revise any forward-looking information or statements, whether as a result of new information, future events, or otherwise, except to the extent required by law.

SOURCE: Meta Materials Inc.

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