Sypris Wins Award for Venture Global CP2 LNG Export Terminal and Venture Global CP Express Natural Gas Pipeline Project

Sypris Technologies, Inc., a subsidiary of Sypris Solutions, Inc. (Nasdaq/GM: SYPR), announced today that it has recently received an award for specialty high-pressure closures for use in the Venture Global CP2 LNG Export Terminal and the Venture Global CP Express Natural Gas Pipeline Project. Shipments under this award are anticipated to be completed by year-end 2023. Terms of the order were not disclosed.

The CP2 LNG facility will be a natural gas liquefaction export terminal with a nameplate export capacity of 20 million metric tonnes per annum. CP2 LNG will be the second LNG export project developed by Venture Global LNG, Inc. (“Venture Global LNG”) in Cameron Parish, Louisiana, with the first being the Calcasieu Pass Project. Together they represent more than $10 billion of direct investment in the Parish, according to news sources.

As described by Venture Global LNG, the CP Express will consist of approximately 85.1 miles of new 48-inch-diameter natural gas pipeline and approximately 5.9 miles of new 24-inch-diameter lateral pipeline to connect the CP2 LNG terminal to the existing natural gas pipeline grid in east Texas and southwest Louisiana. The investment will support the objective of Venture Global LNG to develop clean and reliable North American energy supplies and is proposed to be in service by mid-2025.

Sypris has agreed to manufacture and supply its Tube Turns-branded specialty, high-pressure Tool-less closures for use on the filtration systems for the project. These closures will be 70 inches in diameter, will be rated to a pressure of 2,180 psi and will weigh from an estimated 655 pounds up to as much as 17.5 tons each.

Brett Keener, General Manager, commented, "Sypris continues to be a leader in supplying high-pressure specialty closures to support major energy projects globally. By leveraging our extensive engineering design and manufacturing expertise, we believe we are uniquely qualified to support these types of demanding requirements. We are proud to be a part of a project with a goal to help provide reliable energy and improve lives around the world."

Sypris Technologies, Inc., Tube Turns Products, is a global leader in the manufacture of custom engineered products for high pressure critical applications serving multiple industries such as the oil and gas pipeline, hydrocarbon and petrochemical processing, food, pharmaceutical, water and utility since 1927. Headquartered in Louisville, Kentucky, the Company's products are marketed worldwide, and can be found in projects ranging from the Trans Alaska Pipeline and Strategic Petroleum Reserve in the U.S. to the Tengiz Oil Field in Kazakhstan and the Bonny Island Gas Field in Nigeria. For more information about the Company, visit its Web site at www.sypris.com.