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Photon Control Provides Update on New Product Introductions

Vancouver, BC, October 11, 2018 – Photon Control Inc. (“Photon Control” or the “Company”) (TSX: PHO), a leading developer and supplier of optical measurement technologies to the global semiconductor industry, is pleased to announce that it has transitioned three new products to the final pre-production release step in its New Product Introduction (“NPI”) process.

The new fiber optic products include a new real-time wafer position sensor, a temperature sensor with improved accuracy and manufacturing robustness, and an offline wafer position sensor. These new products have been developed for deployment in the Etch and Deposition steps with existing customers. The pre-production release step is the final approval stage prior to production release for new products and indicates that the customer has approved the final design of prototypes delivered after the proof-of-concept and in-house validation phases. All three products are scheduled to be released to production by Photon Control’s customers by the end of 2018.

“We are pleased to announce this progress on our strategy of diversifying our product offerings and expanding the reach of our fiber optic solutions across the semiconductor value chain. This is particularly gratifying given the recent slowdown in semiconductor capital spending, during which time we have seen our NPI funnel continue to grow and our customers have continued to accept new products according to previously agreed schedules,” said Scott Edmonds, Chief Executive Officer. “Each of these new products is expected to add to our revenue base in 2019 and beyond, and demonstrates that our investments in engineering, customer service and quality are providing the expected returns for our shareholders.”

About Photon Control Inc.

Photon Control Inc. designs, manufactures and distributes a wide range of optical sensors and systems to measure temperature and position. These products are used by the world’s largest wafer fabrication equipment manufacturers and end users in the semiconductor and solid-state industries. Photon Control Inc.’s high quality products provide industry leading accuracy, speed and quality in the most extreme conditions and are backed by a team of experts providing a variety of on-site and remote services including custom design, installation, training and support. Headquartered in an ISO 9001:2015 manufacturing facility in Vancouver, BC, Photon Control Inc. is listed on TSX, trading under the symbol "PHO." Additional information about the company can be found at www.photoncontrol.com/investors.html

Investor Relations Contact:
ir@photoncontrol.com

News Release 17-18