Loop Industries, Inc. announced that on April 4, 2023, the company announced that Mr. Fady Mansour has been appointed as the Company's principal accounting officer and principal financial officer, effective April 17, 2023. Prior to joining the Company, Mr. Mansour, age 50, most recently served as Senior Director at the Caisse de dépôt et placement du Québec (CDPQ), where he utilized his financial and operational skills to grow the infrastructure portfolio through acquisitions, as well as to guide key portfolio companies through his active management and representation on their respective boards. Prior to his role at CDPQ, Mr. Mansour spent over 20 years at the Canadian National Railway Company, where he served in several senior management roles focused on corporate strategy and innovation, business development, and financial planning and reporting.

Mr. Mansour is a CPA and holds a Graduate Diploma in Accounting from Concordia University. In connection with his appointment as Chief Financial Officer, the Company and Mr. Mansour entered into an Employment Agreement, dated March 22, 2023. The Mansour Employment Agreement may be voluntarily terminated by Mr. Mansour upon 30 days' advance written notice to the Company. The Company may terminate the Mansour Employment Agreement at any time without advance notice for Serious Reason (as defined in the Mansour Employment Agreement).

In the event that Mr. Mansour's employment is terminated by the Company without Serious Reason (as defined in the Mansour Employment Agreement), Mr. Mansour will be eligible to receive certain severance payments and benefits subject to his executing a release of claims in favor of the Company and complying with certain post-employment covenants. Such severance payments and benefits will consist of ten months salary, and Mr. Mansour's initial RSU award will be paid as if vested ratably over a period of 60 months from the date of Board approval, with any RSUs vested as of the date of termination paid in one lump sum.