Third Quarter 2026 & Subsequent Results

• The Company reported net assets of $15.4 million, working capital of $12.4 million and cash of $14.1 million at period end
• Construction underway for the Candiac Facility expansion, with detailed engineering completed at the end of September 2026, construction expected to be complete in Q1 2027 and commissioning targeted for Q2 2027, supporting sales, licensing and joint venture opportunities under the Design One Build Many strategy
• Over $75.3 million in non-dilutive capital secured since the beginning of 2024, of which $16.0 million was government funding received in the first nine months of 2026 and approximately $16.0 million remains undrawn as at November 2026

Company Website: https://nanoone.ca/
VANCOUVER, British Columbia -- (Business Wire)

Nano One® Materials Corp. ("Nano One" or the "Company") has filed its condensed interim consolidated financial statements (the "financial statements") and Management’s Discussion & Analysis ("MD&A") for the three and nine months ended September 30, 2026 ("Q3 2026") and is pleased to provide a summary and an update on subsequent events.

Q3 2026—Financial Position and Non-Dilutive Funding

As at September 30, 2026, the Company reported total net assets and working capital of $15.4 million and $12.4 million respectively, with cash of $14.1 million. Cumulatively since the beginning of 2024, Nano One has secured over $75.3 million in non-dilutive capital across government grants and loans, sale-leaseback proceeds and land sale proceeds. Government funding of $16.0 million received in the first nine months of 2026 limited the net use of cash for the nine-month period to $9.5 million, and as at November 2026 the Company had approximately $16.0 million in undrawn government funding available for use in pre-commercial activities under existing grant agreements and programs.

Candiac Facility Capacity Expansion Update

As announced on November 5, 2026, detailed engineering for the Candiac Facility expansion project was completed at the end of September 2026, and construction is now underway and expected to be completed in Q1 2027, with commissioning targeted for Q2 2027. Automation improvements to the Demonstration Line will increase production capacity to approximately 800 tpa of LFP cathode material.

For a more detailed discussion of Nano One’s Q3 2026 interim quarterly results, please refer to the Company’s financial statements, and MD&A, which are available at www.sedarplus.ca.

About Nano One®

Nano One® Materials Corp. (Nano One) is a process technology company changing how cathode active materials (CAMs) are produced for lithium-ion batteries. Nano One’s platform is built on a portfolio of patented processes, decades of manufacturing know-how and modular plant designs that enable scalable, cost-competitive and easier-to-permit CAM production with resilient supply chains. The technology eliminates wastewater and byproducts while enabling regionally sourced raw materials and reducing exposure to foreign supply chain volatility. Modular plants are designed with fewer steps to reduce capex, energy and environmental intensity and to accelerate deployment, manufacturing and licensing. Product development and process optimization are based at Nano One’s Innovation Centre in Burnaby, British Columbia while piloting, demonstration and commercial production are based in Candiac, Québec, supported by a team with more than 15 years of commercial cathode manufacturing experience supplying global cell manufacturers. Strategic collaborations with global partners including Sumitomo Metal Mining, Rio Tinto and Worley support Nano One’s Design-One-Build-Many growth strategy. Nano One has received funding support from the Governments of Canada, the United States, Québec and British Columbia.

For more information, please visit www.nanoone.ca.

Cautionary Notes and Forward-Looking Statements

Certain information contained herein may constitute "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements. Forward-looking information in this news release includes, but is not limited to: plans, timing, and execution as well as the purpose for expanding the Candiac facilities and scalability of developed technology; receipt of the total amount of announced anticipated funding from the Government of Canada/NRCan and other government related grants and loans; use of proceeds; ongoing product and process improvement and innovations as potential additional revenue opportunities for the Company; the development of technology, supply chains, and plans for construction and operation of cathode production facilities for acceptance of the Company's product and licensing packages; industry acceleration and demand; successful current and future collaborations that are/may happen with OEMs, miners or others; the value, functions and intended benefits of the Company's technology and products efforts to build resilient and sustainable supply chains for critical minerals and battery materials; the development and evolution of Nano One's technology and products for scale up and commercialization; achieving commercial production of LFP; the Company's licensing, supply chain, joint venture strategies, opportunities and potential royalty arrangements; expected timing of commercialization milestones, including product qualification, initial sales, capacity expansion, and development project timelines; the anticipated future sales, and revenue streams from product sales, technology licensing, joint ventures, and royalty arrangements; progression of customer engagement activities, including sampling, qualification, and conversion into commercial agreements; and the execution of the Company's plans - which are contingent on capital support and grants. Generally, forward-looking information can be identified by the use of terminology such as ‘believe', ‘expect', ‘anticipate', ‘plan', ‘intend', ‘continue', ‘estimate', ‘may', ‘will', ‘should', ‘ongoing', ‘target', ‘goal', ‘encouraged', ‘projected', ‘potential' or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the current opinions and estimates of management as of the date such statements are made are not, and cannot be, a guarantee of future results or events. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including but not limited to: receipt of the total amount of announced anticipated funding from the Government of Canada/NRCan and other government related grants and loans; use of proceeds; ongoing product and process improvement and innovations as potential additional revenue opportunities for the Company; de‑risking supply chains for prospective licensees; general and global economic and regulatory changes; next steps and timely execution of the Company's business plans; the development of technology, supply chains, and plans for construction and operation of cathode production facilities; risks relating to cost overruns, delays, and execution challenges associated with engineering, procurement, construction, and scale-up activities; successful current or future collaborations that may happen with OEMs, miners or others; the execution of the Company's plans which are contingent on capital sources; the Company's ability to achieve its stated goals; the commercialization of the Company's technology and patents via license, joint venture and independent production; the Company’s efforts to build resilient and sustainable supply chains for critical minerals and battery materials; anticipated global demand and projected growth for LFP batteries; and other risk factors as identified in Nano One's Annual Information Form dated March 25, 2026, for the year ended December 31, 2025, its MD&A for the year then ended, and in recent securities filings for the Company which are available at www.sedarplus.ca. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company does not undertake any obligation to update any forward-looking statements or forward-looking information that is incorporated by reference herein, except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements.

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Contacts:

Company:
ir@nanoone.ca
+1 (604) 520-9421

Source: Nano One Materials Corp.