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DIRTT Releases Investor Deck detailing the Momentum of Change, Canadian Business Journal

  • The renewed, highly qualified and strategically selected board has relocated DIRTT to improve its financial performance, increase shareholder value and achieve future growth. Large-scale changes can create significant risks.
  • 22NW submits an unqualified slate to warn shareholders that it has not clarified the company’s plans.
  • DIRTT continues to work with all shareholders, including 22NW, to effectively resolve this costly and time-consuming proxy war, expanding its board of directors to eight members and separating it from Mr. English. We are ready to consider including 22NW candidates for.
  • The deck is SEDAR www.DIRTTmomentum.com..For help voting, see Kingsdale Advisors (1-866-851-2743) or contactus@kingsdaleadvisors.com..

Calgary, Alberta, April 5, 2022 (GLOBE NEWSWIRE) — DIRTT Environmental Solutions Ltd. (“DIRTT” or “Company”) (NASDAQ: DRTT, TSX: DRT), a global leader in industrialized construction that empowers organizations with construction Design leaders for building high-performance, adaptable interior environments Today released a deck for investors detailing the momentum of change under a redesigned and highly qualified board of directors (“Board of Directors”).

This deck shows how the board supported the changes to guide the company from the COVID-19 pandemic, despite the early and rapid success of the board’s plans and the 22NW proxy battle. 22 Provide shareholders with important information, such as efforts to work with NW. All this momentum is at stake.

Complete investor resources are available at SEDAR and www.DIRTTmomentum.com. Here are some highlights of the deck:

Significant momentum of DIRTT and unclear plan of 22NW
The changes are going well and there is meaningful momentum. DIRTT’s updated board acknowledged feedback from partners, management and shareholders that changes were needed and significant progress was made in a short period of time.

The initial successes are:

  • Regain management focus on DIRT T’s key strategic pillars of manufacturing excellence, commercial execution and production innovation.
  • Respond proactively to cash flow concerns and surplus capacity, redirecting sales efforts based on results reviews and changing markets.
  • Replace CEO with provisional CEO.
  • Reduce operating expenses by 14%.
  • Pricing strategy revision.
  • Reconstruction and rationalization of DIRTT’s manufacturing footprint.When
  • Strengthen relationships with partners.
Approximately five months after waging a distracting and expensive proxy war, 22NW recently announced its “plan.” This is just a plan to create a plan.

22NW is hampering the company’s progress by advancing a “stay on course” strategy that is inconsistent with the interests of other major shareholders without clarifying valuable plans.

DIRTT’s strategically selected candidates and the majority of 22NW untested and unproven slate
Given the unique nature of DIRTT’s business, the board renewal process is a robust analysis of the functional, empirical, and personal attributes needed to add value in the context of DIRTT’s strategic priorities. Supported by. This board has an ideal combination of institutional knowledge and fresh perspectives backed by experience in construction, real estate, manufacturing and innovation, and strong financial and governance insights familiar with DIRTT’s strategic priorities. Is equipped with. Almost every male slate at 22NW does not fully understand DIRTT’s business and what it takes to lead a public company. Major changes to the board of directors can reverse progress and damage the company.

It may be irresponsible to put the company into the hands of an untested director at this important time of the DIRTT journey, or at any time.

DIRTT’s Aggressive Shareholder Engagement and 22NW Unnecessary Proxy War
DIRTT welcomes the involvement of constructive shareholders and continues to commit to working with all shareholders. In fact, the board has been consistently involved with shareholders, including 22NW. We have met several times with 22NW founder Aron English on the candidacy of the board before the unfortunate launch of his proxy war, and his candidacy was in the regular course in February 2022. I have informed him several times that it will be considered as part. Review and director selection process. Some attempts by the Board to contact after the request were also rejected by 22NW.

The Board of Directors remains open to constructively engaging with 22NW and all shareholders to effectively resolve this costly and time-consuming proxy war for the benefit of all shareholders, and has 8 Boards of Directors. We are ready to expand to members of the group and consider adding Mr. English and another 22NW candidate. ..

22NW previously announced support for 50.4% of DIRTT shareholders, but documents showing such support were not binding. As a result of open communication with shareholders, the Board does not believe that a majority of shareholders will support a major change in the Board.

To make matters worse, 22NW launched a proxy fight at the expense of DIRTT shareholders. 22NW and Mr. English have already made clear their intention to ask the company for a refund if the proxy war is successful.

The choice is clear: vote blue for DIRTT’s board

The changes are going well. Do not stop the momentum of DIRTT. Please vote for the BLUE proxy well before the 10 am (MDT) proxy voting deadline on Friday, April 22, 2022.

If you accidentally vote for a 22NW agent, or if you want to change your vote for any other reason, please vote for a BLUE agent. This will cancel and replace the previous vote.

If you have any questions or need voting assistance, please contact Kingsdale Advisors (1-866-851-2743) or the following address: contactus@kingsdaleadvisors.com..

About DIRTT Environmental Solutions

DIRTT is a world leader in industrialized construction. Its system of physical products and digital tools enables organizations to work with construction and design leaders to build a high-performance, adaptable internal environment. Operating in the commercial, medical, educational, and public sector markets, DIRTT’s systems provide complete design freedom, increasing cost, schedule, and certainty of results.

Headquartered in the United States and Canada, DIRTT is traded on the Nasdaq under the “DRTT” symbol and on the Toronto Stock Exchange under the “DRT” symbol.

Advisor

DIRTT holds McMillan LLP as legal counsel and Kingsdale Advisors as strategic shareholders and communications advisors.

Important additional information about proxy solicitation

DIRTT has issued a formal mandate solicitation to the Securities and Exchange Commission (“SEC”) in connection with the mandate solicitation for the annual and special shareholders’ meetings to be held on Tuesday, April 26 (“formal mandate solicitation”). I submitted. , 2022 10:00 am (MDT) (“Meeting”). DIRTT, its members and certain executive officers, participate in soliciting powers of attorney from shareholders for a general meeting of shareholders. Information on the names of DIRTT’s directors and executive officers, as well as their respective interests in holding securities or otherwise for DIRTT, was filed with the SEC in February on Form 10-K for the fiscal year ended December 31, 2021. It is mentioned in the DIRTT annual report of. The 2022 final mandate solicitation filed with the SEC on March 24, 2022. If such participant’s holdings in DIRTT’s securities have not been reported or have changed from the amount stated in the final mandate solicitation, the change will be the ownership of Form 4 submitted to the SEC. It is reflected in the statement regarding the change. Details regarding DIRTT’s board candidates for elections at the conference are included in the Final Delegation Solicitation and the accompanying BLUE Delegation Solicitation. Before deciding on voting rights, a company’s investors and shareholders are required to read all relevant documents submitted or submitted to the SEC, including the company’s power of attorney. This includes the Blue Proxy Card and its supplements. Investors and shareholders can obtain a free copy of the final power of attorney and other related documents submitted by DIRTT from the SEC’s website at www.sec.gov. DIRTT shareholders will receive a free copy of the formal mandate and other relevant filings by mailing the request to DIRTT Environmental Solutions Ltd., 7303 30th Street SE, Calgary, Alberta, Canada. You can also. From the investor section of dirtt.com or the DIRTT website at www.dirtt.com/investors.

Special notes regarding forward-looking statements

This news release contains information about the future outlook within the meaning of applicable securities law. This reflects our current expectations of future events. In some cases, information about future prospects can be identified by terms such as “plan,” “anticipate,” “believe,” and “will.” Information about the future outlook is based on many assumptions and is subject to many risks and uncertainties. Many are beyond our control and actual results and events may differ materially from those disclosed or implied in such. Information about the future outlook. Our estimates, beliefs and assumptions may turn out to be inaccurate. Risks and uncertainties that may affect future outlook information are described in Market Conditions, the Impact of the COVID-19 Pandemic on Our Business, Business and Financial Results, and “Risk Factors”. Other factors include, but are not limited to. Our annual report on Form 10-K for the year ended December 31, 2021 submitted to the SEC and the applicable Securities Commission of Canada or similar regulators on February 23, 2022. Management discussion and analysis. (Www.sedar.com) and the SEC website (www.sec.gov). We undertake no obligation to update such forward-looking information as new information, future events, or other consequences, except as expressly required by applicable law. Information about this future outlook is only given as of the date of this news release.


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DIRTT Releases Investor Deck detailing the Momentum of Change, Canadian Business Journal

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