Vecima Networks Announces Offering of Common Shares

• NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES

December 7, 2022 – Victoria, B.C., Vecima Networks Inc. (“Vecima” or the “Company”) (TSX:VCM), is pleased to announce that it has entered into an agreement with Raymond James Ltd. and Cormark Securities Inc. (together, the “Agents”), pursuant to which the Agents have agreed to offer for sale 507,100 common shares (the “Common Shares”) in the capital of the Company at a price of $17.75 per Common Share (the“Issue Price”) for aggregate gross proceeds to the Company of approximately $9 million (the “Offering”).

In addition, the Company has granted the Agents and option (the “Agents’ Option”), exercisable up to 48 hours prior to closing to offer for sale 56,280 Common Shares, for market stabilization purposes and to cover over-allotments, if any. In the event the Agents Option is exercised in its entirety total gross proceeds to the Company will be approximately $10 million. The Agents have agreed to purchase the Common Shares which remain unsold on the Closing Date, for investment purposes, at the Issue Price.

The Common Shares will be offered in all Canadian provinces pursuant to the Listed Issuer Financing Exemption under National Instrument 45-106 – Prospectus Exemptions.

The Company intends to use the net proceeds of the Offering for the repayment of the line of credit.

The Offering is expected to close on or about December 14, 2022, subject to customary closing conditions, including, but not limited to, the receipt of all necessary approvals including the approval of the Toronto Stock Exchange.

There is an offering document related to this offering that can be access under the Company’s profile at www.sedar.com and at http://vecima.com/investor-relations/investor-information/. Prospective investors should read this offering document before making an investment decision.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or in any other jurisdiction in which such offer, solicitation orsale would be unlawful. The securities have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements thereunder.

About Vecima Networks Inc.
Vecima Networks Inc. (TSX: VCM) is leading the global evolution to the multi-gigabit, content-rich networks of the future. Our talented people deliver future-ready software, services, and integrated platforms that power broadband and video streaming networks, monitor and manage transportation, and transform
experiences in homes, businesses, and everywhere people connect. We help our customers evolve their networks with cloud-based solutions that deliver ground-breaking speed, superior video quality, and exciting new services to their subscribers. There is power in connectivity – it enables people, businesses, and communities to grow and thrive. Learn more at www.vecima.com.

For further information please contact:
Dean Rockwell
Investor Relations – 250-881-1982
invest@vecima.com

Forward-Looking Statements

Some statements in this release may contain forward-looking information. All statements, other than of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding the Offering
generally, the terms thereof, the use of the proceeds, the exercise of the Agents’ Option, the jurisdictions in which the Offering will be conducted, the filing of the offering materials and the satisfaction of the conditions of closing of the Offering, including the receipt, in a timely manner, of required approvals) are
forward-looking statements. Forward-looking statements are generally identifiable by use of the words “may”, “will”, “should”, “continue”, “expect”, “anticipate”, “estimate”, “believe”, “intend”, “plan” or “project” or the negative of these words or other variations on these words or comparable terminology.

Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company’s ability to control or predict, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. A more complete discussion of the risks
and uncertainties facing Vecima is disclosed under the heading “Risk Factors” in the Company’s Annual Information Form dated September 22, 2022, as well as the Company’s continuous disclosure filings with Canadian securities regulatory authorities available at www.sedar.com.

In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, assumptions regarding the Company receiving all required approvals; the satisfaction or waiver of the conditions of closing of the Offering and the completion of the
Offering on the expected terms.

Although the Company has attempted to identify important factors that could cause actual results or events to differ materially from those described in forward-looking statements, there may be other factors that cause results or events not to be as anticipated, estimated or intended. Readers should not place undue
reliance on forward-looking statements. The forward-looking statements included in this news release are made as of the date of this news release and the Company does not undertake an obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise unless
required by applicable securities legislation.

All forward-looking information herein is qualified in its entirety by this cautionary statement, and Vecima disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future
results, events or developments, except as required by law