ARfusion™ platform and NANOWEB® Transparent 5G Antennas enable immersive mobile XR experiences by combining on-device advanced visualization, 5G, and edge to cloud data transfers

HALIFAX, NS / ACCESSWIRE / June 1, 2022 / Meta Materials Inc. (the "Company" or "META®") (NASDAQ:MMAT), (FSE:MMAT), a developer of high-performance functional materials and nanocomposites, today announced the demonstration of the patent-pending, world's most transparent antenna in prescription lenses for Extended Reality (XR) applications at AWE USA 2022 in Santa Clara, CA. Transparent antennas for 5G and other frequency bands will be one of a wide range of functionalities which can be embedded into ophthalmic lenses using the ARfusion™ automated lens casting system. META will also deliver two presentations on June 1^st and June 3rd: Automated Lens Casting Embedding Multi-Functional Metasurfaces for AR Displays, with Dr. Jonathan Waldern, and A Renaissance for Free Space Combiners, with Dr. Andrew Mark.

META has developed NANOWEB®, a transparent and highly conductive metal mesh film, which is used to create optically transparent antennas. The antennas can be designed to operate at any frequency and can then be embedded into the ophthalmic lenses to maximize transmission and reception, reduce power consumption, and enable 5G bandwidth for edge to cloud computing. IDTechEx forecasts that by the end of 2032, the revenue generated by consumer mobile services will be approximately $800 billion.

"5G is paving the way for a fully digitalized and connected world. 5G is redefining and accelerating industries such as automotive, entertainment, computing, and manufacturing, and will ultimately change the way we work and live. META's patented multi-functional nanomaterial solutions are designed to fundamentally improve the capability and performance of XR and other devices, accelerating mass market adoption, enabling more use-cases, and drawing in more users, towards ubiquity," said George Palikaras, President and CEO.

NANOWEB® transparent 5G Antenna in ARfusion™ Smart Lens

5G connectivity directly offers several benefits: 100x more bandwidth, 10x decrease in latency, enhanced display resolution and wide field of view, telepresence for hands free expert support, eye tracking and seamless interaction with cloud-based AR applications, for example, bringing detailed information on demand to objects in the environment.

"We developed this 5G reference design using a completely transparent printing process, thus collapsing cost. Such a large invisible antenna in each eyeglass enables excellent reception, supporting interactive AR audio/video and eliminating the power consumption and bulk of additional electronics embedded in the glasses frame," said Jonathan Waldern, META's Chief Technology Officer.

META's ARfusion™ platform combines precision cast lens fabrication tools with functional nanomaterials. Recognizing the growing need for user prescriptions in AR eyewear, META has created a platform that allows developers to integrate waveguides and associated smart technologies into thin lightweight prescription glasses. ARfusion™ allows many smart technologies including waveguides, microdisplays, holographic components, liquid crystal and electrochromic foils, antifogging films, eye tracking devices, eyeglow suppression films, and antennas to be seamlessly integrated within smart lenses. The ARfusion™ fabrication process requires few steps, and is scalable, versatile, and cost-effective.

Exhibition:
Booth 219, Santa Clara Convention Center
Live Technology and Product Demos
Thursday, June 2^nd, 11:00 AM - 5:30 PM
Friday, June 3^rd, 10:00 AM - 3:00 PM

Presentations:
Automated Lens Casting Embedding Multi-Functional Metasurfaces for AR Displays
Jonathan Waldern, Chief Technology Officer
Wednesday, June 1^st, 4:35 PM - 5:00 PM, Mission City Ballroom - Main Stage

A Renaissance for Free Space Combiners
Andrew Mark, Director of Photonics
Friday, June 3^rd, 3:05 PM - 3:30 PM, Grand Ballroom H - XR Enablement

The prize of functional, lightweight, all-day wearable smart glasses remains as elusive as ever. The missing linchpin component is the optical combiner which must reconcile the conflicting requirements of see-through quality, display performance, light weight, efficiency, prescription compatibility, and aesthetics. META's approach to AR optical combiners is based on a free space architecture enabled by holographic optical elements. Combined with ophthalmic compatible ARfusion™ lens casting technology, the result is a monolithic combiner that provides extraordinary optical efficiency, ophthalmic grade see-through clarity, and the prescription and aesthetic properties that opticians, consumers, and regulators expect from eyewear. META's One-Stop-Shop approach to individualization circumvents many of the concerns around eyebox size and manufacturability.

About Meta Materials Inc.
META® delivers previously unachievable performance, across a range of applications, by inventing, designing, developing, and manufacturing sustainable, highly 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 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.

Forward-Looking Information
This press release includes forward-looking information or statements within the meaning of Canadian securities laws and within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, regarding the Company, which may include, but are not limited to, statements with respect to the business strategies, product development, expansion plans and operational activities of the Company. Often but not always, forward-looking information can be identified by the use of words such as "pursuing", "potential", "predicts", "projects", "seeks", "plans", "expect", "intends", "anticipated", "believes" or variations (including negative variations) of such words and phrases, or statements that certain actions, events or results "may", "could", "should", "would" or "will" be taken, occur or be achieved. Such statements are based on the current expectations and views of future events of the management of the Company and are based on assumptions and subject to risks and uncertainties. Although the management of the Company believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. The forward-looking events and circumstances discussed in this release may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting the Company, the capabilities of our facilities and the expansion thereof, research and development projects of the Company, the market potential of the products of the Company , the market position of the Company, the scalability of the Company's production ability, capacity for new customer engagements, material selection programs timeframes, the ability to reduce production costs, enhance metamaterials manufacturing capabilities and extend market reach into new applications and industries, the ability to accelerate commercialization plans, the possibility of new customer contracts, the continued engagement of our employees, the technology industry, market strategic and operational activities, and management's ability to manage and to operate the business. More details about these and other risks that may impact the Company's businesses are described under the heading "Forward-Looking Information" and under the heading "Risk Factors" in the Company's Form 10-K filed with the SEC on March 1, 2022, with an SEC filing date of March 2, in the Company's Form 10-Q filed with the SEC on May 10, 2022, and in subsequent filings made by Meta Materials with the SEC, which are available on SEC's website at www.sec.gov. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on any forward-looking statements or information. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and the Company does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except to the extent required by law.

Media Inquiries
Rob Stone
Vice President, Corporate Development and Communications
Meta Materials Inc.
media@metamaterial.com

Investor Contact
Mark Komonoski
Senior Vice President
Integrous Communications
Phone: 1-877-255-8483
Email: ir@metamaterial.com

SOURCE: Meta Materials Inc.