DIRTT Environmental Solutions Inc. $35 Million Convertible Debenture Bought Deal Financing

Goodmans LLP acted as Canadian counsel to the underwriters in connection with a short form prospectus offering in Canada and concurrent offering in the United States by DIRTT Environmental Solutions Inc. of 6.25% convertible unsecured subordinated debentures with a syndicate of underwriters (the "Underwriters") led by National Bank Financial Inc.

The Company also granted the Underwriters an over-allotment option to purchase up to an additional C$5.25 million aggregate principal amount of Debentures on the same terms, exercisable in whole or in part at any time up to the 30th day following the closing of the Offering.

The Company intends to use a portion of the net proceeds of the Offering, together with cash reserves on hand, to fund its anticipated 2022 capital expenditure program of approximately US$7.0 million, comprised of approximately US$2.5 million related to refreshes of DIRTT Experience Centers, continued enhancement of the Company’s customer relationship management system and website redesign, approximately US$2.5 million on software development and approximately US$2.0 million on manufacturing and other capital upgrades.