Principal Technologies Inc. report that the nominees listed in the management proxy circular dated October 21, 2022 for the annual and special meeting of shareholders of the Company held on November 30, 2022 (the "Meeting") were elected as directors of the Company. Shareholders at the Meeting also approved the appointment of the Company's auditors. The Company wholeheartedly thanks Mr. John McCoach for his valuable contributions as he recently stepped down as a Director and Chair of the Company's Audit Committee.

Same goes for Mr. Frank Stronach who also stepped down as a Director but continues as Chief Financial Officer of the Company.