ALUULA Brand License Update Following ISPO Munich Trade Show

Victoria, British Columbia--(Newsfile Corp. - December 13, 2023) - ALUULA Composites Inc. (TSXV: AUUA) (the "Company" or "ALUULA") is pleased to provide the following update on new partners showcased at the recent ISPO trade show in Munich.

Highlights:

• Showcased the recently announced Arc'teryx collaboration.

• Durston Gear announces winter launch of the Wapta 30 pack, making Durston the first outdoor brand to market with ALUULA.

• RockGeist announces ALUULA integration into its bike pack line up, as the first bike accessory brand featuring ALUULA.

• Naish, renowned windsports brand, launches its first ALUULA powered kite.

The world's largest multi-segment trade show for sports and outdoor equipment, ISPO Munich, is a key opportunity for Aluula to showcase product innovation and emerging trends on the global stage.

This year, ALUULA's booth at ISPO showcased the recently announced Arx'teryx partnership featuring ALUULA's newly launched pack material program - a collection of ALUULA materials and assembly techniques aimed at the backpack and soft bag market. The ALUULA pack program uses only recycle ready materials to enable the world's lightest, strongest bags, backpacks and soft luggage for all types of applications.

The unique composition of composite materials in the ALUULA pack program allows new manufacturing methods such as sew free seams, and thermo form shaping with no requirement for glue lamination.

Arc'teryx

In collaboration with ALUULA Composites, Arc'teryx previewed a concept backpack, which the Company believes can be a transformative innovation for the outdoor market. The Arc'teryx pack showcased new manufacturing technologies such as "no sew" and other new finishing techniques made possible by the unique properties of ALUULA. A key feature of the concept backpack is that it can be recycle ready at the end of its useful life.

Forged Aluula

Also on display at ISPO was an early access look at Forged ALUULA. Forged ALUULA uses scraps taken from the production of packs and other ALUULA products, which are then reworked and turned into Forged ALUULA, a new class of ultra strong, light hard composite made entirely with scrap / recycled polyethylene and the reclaimed ultra high molecular weight fibers.

During ISPO, the Company showcased Forged ALUULA for back pack frames, and other hard components that require low weight, stiffness and durability/abrasion resistance.

Durston Gear

At the ISPO trade show, Durston Gear, announced AlUULA's first Outdoor product launch, the Wapta 30 frameless backpack featuring ALUULA Graflyte, Duralyte and ALUULA seam tape program. The combination of these ALUULA materials allowed Durston to reduce the weight of the back pack by 50%.

Founded and owned by Canadian entrepreneur Dan Durston, and located in the Canadian Rocky Mountains, Durston Gear is emerging as a leader in ultra lightweight high performance tents and packs, with an active following of hard core outdoor enthusiasts around the world. The entire ALUULA team is excited to see the Durston Wapta 30 pack launch this winter.

https://durstongear.com/products/wapta-30-ultralight-backpack

Rockgeist Bikepack USA

We are also proud to announce Rockgeist, as the first brand to launch ALUULA in the bike market. Designed and manufactured in the US, Rockgeist are renowned for ultra lightweight bike packs shaped to fit into every accessible space on a bike.

Rockgeist has leveraged the unique features of ALUULA to reshape bike pack performance. The benefits of ALUULA for Rockgeist include:

• welded seams

• ultralight (even when wet), and high abrasion resistance

• Welded - 100% waterproof seams with no tape and no sealers(Welding is the most reliable way to build a waterproof bag)

• Ultralight - About 40% lighter than standard welded designs

https://rockgeist.com/aluula/

Naish International

Naish International was introduced as a new ALUULA windsports customer at the ISPO trade show.

Founded by Robby Naish, Naish products are renowned for innovation, performance and style in the global water sports market. The 2024 Naish Pivot Nvision is the first ALUULA powered Naish product to come to the market.

The Pivot Nvision sets a new standard for a high-performance all around kite. The Aluula Gold airframe delivers speed and responsiveness.

https://www.naish.com/pages/nvision-landing-page

The Company is proud to announce that the recent winners of the Wingfoil world titles and the Red Bull King of the Air, 2023 all used ALUULA air frame materials. For more visit www.aluula.com.

Richard Myerscough, CEO of ALUULA, commented, "We're thrilled to announce three new collaborations with brands across crucial market segments following our successful participation in the ISPO trade show.

"This underscores our strategy of pursuing best-in-class partners to drive penetration of ALUULA products and processes into the market. We look forward to translating these brand collaborations into strong revenue growth in the coming year."

About ALUULA Composites

ALUULA Composites Inc. (TSXV: AUUA) is a new class of composite materials built from components with eight times the strength-to-weight ratio of steel, and yet lighter than nylon, polyester or aramid. Using a patented and proprietary approach to increase fiber strength at the molecular level, ALUULA core weaves and outer facing films are fused without the use of heavy glues. This remarkable process allows ALUULA to achieve strength to weight ratio materials that have been previously unachievable. The company continues to add patented innovation to its product offerings and specialized core competencies to its growing team.

Partnering with world-class brands, ALUULA Composites is quickly becoming the top choice for innovators seeking to set a new standard of high-performance.

ALUULA is a Canadian company founded by a team of highly experienced chemists and engineers who share a common passion for exploring and enjoying the outdoors. They have created a new realm in dimensionally stabilized multilayer materials that are the result of an innovative bonding of co-polymer layers, creating composites which are extremely light, highly tear and stretch resistant, and are easily fabricated into a multitude of products across a wide range of markets. ALUULA Composites strives to develop products and processes that are not hazardous to our environment and minimize the footprint we leave behind.

Learn more about ALUULA Composites at: www.aluula.com.

Contact:

Richard Myerscough, CEO
1-888-724-2470
ceo@aluula.com

TSX Venture Exchange

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-looking Statements

The information in this news release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties as described in the Company's management discussion and analysis. Forward looking statements in this news release relate , but are not limited to, the Arc'teryx's concept backpack, FORGED ALUULA, the Durston Wapta 30 frameless backpack, Rockgeist bike packs, Naish International introduction as a new ALUULA brand partner in windsports and translating these new relationships into revenue growth in the coming year. Because of these risks and uncertainties and as a result of a variety of factors, including the timing and receipt of all applicable regulatory, corporate and third party approvals, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward looking statements. Although the Company believes that the expectations reflected in forward looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statement will prove to be correct. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.

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