The Westaim Corporation (“Westaim” or the “Company”) (TSXV: WED) is pleased to announce that it has been named as one of the top performing companies from the past year on the TSX Venture Exchange (the “TSXV”). The 2023 TSX Venture 50 is an annual ranking of the top performing companies based on each firm’s performance across three key indicators: market capitalization growth, share price appreciation and trading volume.

As part of the 2023 TSX Venture Top 50, Westaim was named the top performer in the Diversified Industries sector, which includes Financial Services. More details on the 2023 TSX Venture 50 and a congratulatory video from the Exchange highlighting Westaim can be found at www.tmx.com/venture50.

About Westaim

Westaim is a Canadian investment company specializing in providing long-term capital to businesses operating primarily within the global financial services industry. The Company invests, directly and indirectly, through acquisitions, joint ventures and other arrangements, with the objective of providing its shareholders with capital appreciation and real wealth preservation. Westaim’s strategy is to pursue investment opportunities with a focus towards the financial services industry and grow shareholder value over the long term. Westaim’s investments include significant interests in Skyward Specialty (NASDAQ: SKWD), Arena Investors and Arena FINCOs. Skyward Specialty, the HIIG Partnership, Arena FINCOs and Arena Investors are defined in the notes to Westaim’s audited consolidated financial statements for the year ended December 31, 2021 and 2020 and the MD&A. Westaim's common shares are listed on the TSXV under the trading symbol “WED”.

For more information, contact:

J. Cameron MacDonald, President and Chief Executive Officer or

Robert T. Kittel, Chief Operating Officer

The Westaim Corporation

info@westaim.com

(416) 969-3333

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

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