Meta Materials Inc. Board of Directors Approves Planned Completion of the Spin-Off of Next Bridge Hydrocarbons Inc - Seite 2

A registration statement on Form S-1 relating to the shares subject to the distribution has been filed with the Securities and Exchange Commission and became effective on November 18, 2022. The registration statement and any subsequent filings (including the final prospectus) will be available for free on the SEC's website at http://www.sec.gov. Holders of the Series A Preferred Stock are urged to consult with their tax advisors with respect to the U.S. federal, state and local or foreign tax consequences, as applicable, of the distribution of Next Bridge common stock. For additional information regarding the distribution, the tax impacts, and the manner in which holders of Series A Preferred Stock may receive shares of Next Bridge common stock, please refer to the registration statement and any subsequent filings (including the final prospectus) filed with the SEC relating to the registration statement.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Advisors

Wilson Sonsini Goodrich & Rosati is serving as legal advisor to META, and O'Melveny & Myers LLP is serving as legal advisor to Next Bridge in connection with the distribution.

About Meta Materials Inc.

META® delivers previously unachievable performance, across a range of applications, by inventing, designing, developing, and manufacturing sustainable, high-performance, functional materials. Our extensive technology platform enables leading global brands to deliver breakthrough products to their customers in consumer electronics, 5G communications, health and wellness, aerospace, automotive, and clean energy. Our nano-optic metamaterial technology provides anti-counterfeiting security features for government documents and currencies and authentication for brands. Our achievements have been widely recognized, including being named a Lux Research Innovator of the Year in 2021. Learn more at www.metamaterial.com.