Tranche Update on Park Aerospace Corp.'s Equity Buyback Plan announced on May 23, 2022.

Park Aerospace Corp. is an aerospace company. The Company develops and manufactures solutions and hot-melt advanced composite materials used to produce composite structures for the global aerospace markets. Its advanced composite materials include film adhesives and lightning strike protection materials. It offers an array of composite materials specifically designed for hand lay-up or automated fiber placement (AFP) manufacturing applications. Its advanced composite materials are used to produce primary and secondary structures for jet engines, large and regional transport aircraft, military aircraft, Unmanned Aerial Vehicles, business jets, general aviation aircraft and rotary wing aircraft. The Company is a distributor of RAYCARB C2B NG, which is used to produce ablative composite materials for critical rocketry and missile systems. The Company also offers specialty ablative materials for rocket motors and nozzles and specially designed materials for radome applications.