DIRTT ENVIRONMENTAL SOLUTIONS Business Summary

DIRTT Environmental Solutions Ltd. (DRTTF) operates as a technology-driven manufacturer of prefabricated interior environments, utilizing its proprietary ICE® software to provide end-to-end design, configuration, and manufacturing integration. The company generates revenue through the sale of customized modular solutions—including architectural walls, millwork, power, and integrated networks—primarily distributed through a global network of over 100 Distribution Partners (DPs). Its business is segmented into four core sectors: Commercial, Healthcare, Education, and Government, with the U.S. market accounting for approximately 88% of total revenue. Positioned as a high-tech, sustainable alternative to traditional stick-built construction, DIRTT competes directly with modular furniture and prefab rivals such as Falkbuilt Ltd., Teknion, Allsteel, and Haworth, distinguishing itself through its software-centric "industrialized construction" model that ensures project certainty and rapid onsite installation. Originally founded in 2003 by Mogens Smed and Geoff Gosling, the company is currently led by CEO Benjamin Urban, who brings deep industry expertise from his previous leadership at Agile Interiors. The executive team was significantly bolstered in early 2026 with the appointment of Chief Technology Officer Aaron Merkin, a veteran of Fortive and IBM, and Chief Transformation Officer Adrian Zarate, who oversees the firm’s strategic restructuring. Scott Robinson, a former real estate investment banker and NYU professor, serves as Executive Chairman. The company’s governance and capital structure are heavily influenced by major institutional investors, including 22NW Fund, LP (its largest shareholder) and the 726 Entities, which are managed by Peter L. Briger Jr. of Fortress Investment Group. Recent board additions include Jeremy Gold of the Briger Family Office, reflecting a concentrated effort by activist shareholders to drive operational efficiency and long-term profitability.