DIRTT ENVIRONMENTAL SOLUTIONS LTD (DRTTF): debt financing — DIRTT Environmental Solutions reports Q4 2022 results with positive Adjusted EBITDA, amends credit facility

and DIRTT Environmental Solutions, Inc. (“DIRTT U.S.”), as borrower (as amended, the “Extended RBC Facility”). Under the Extended RBC Facility, the Company may borrow up to C$15 million, except that such amount will be limited to (i) a maximum of 90% of investment grade or insured accounts receivable plus 85% of eligible accounts receivable; plus (ii) the lesser

Revenue decreased 1% to $42.4 million for the quarter, compared to the prior year’s fourth quarter, and decreased 9% compared to the third quarter of 2022. • Gross profit margin improved by 1,232 bps from the third quarter of 2022 as virtually all of the previously implemented price increases are reflected in the fourth quarter of 2022 revenues. • Net loss improved to $(5.9) million by $10.1 million, or 63%, from the prior year’s fourth quarter and by $0.8 million, or 12%, from the third quarter of 2022.

On February 22, 2023, Mr. Cory Mitchell, a member of the Company’s Board of Directors, announced his intention not to stand for re-election at this year’s annual meeting of shareholders.

On February 9, 2023, DIRTT Environmental Solutions Ltd. (the “Company”), as borrower, entered into an agreement to amend its loan agreement governing a senior secured revolving credit facility, dated February 12, 2021 with the Royal Bank of Canada (“RBC”), as lender, and DIRTT Environmental Solutions, Inc. (“DIRTT U.S.”), as borrower (as amended, the “Extended RBC Facility”).