DIRTT Environmental Solutions Ltd. entered into irrevocable subscription agreements for up to 8,871,494 common shares for gross proceeds of approximately $3,000,000 on November 14, 2022. The transaction will include participation from 726 BF LLC, 726 Bc LLC, 22NW Fund, LP, a fund managed by returning investor 22NW, LP and Douglas Edwards, Aron English, Brad Little, Richard Hunter, Cory Mitchell, Shaun Noll, Scott Robinson, Scott Ryan, Ken Sanders, Benjamin Urban, Jeff Dopheide, Mark Greffen and Nandini Somayaji all the directors and executive officers of the company. The subscription price for such common shares will be equal to the greater of the closing bid price of the common shares on the Nasdaq on November 14, 2022, and the volume weighted average trading price of the common shares on the TSX, converted to United States dollars based on the Bank of Canada daily exchange rate, for the five trading days immediately following the announcement, being November 15 to November 21.

The transaction is subject to standard regulatory approvals, including the approval of the Toronto Stock Exchange.