Mr. Zarko Meseldzija reports

RECYCLICO BATTERY MATERIALS AND ZENITH CHEMICAL CORPORATION PROVIDE COMMERCIAL JOINT VENTURE UPDATE

Recyclico Battery Materials Inc. has provided an update on its commercial joint venture in Taiwan with Zenith Chemical Corp.

Recyclico and Zenith have signed an amended and restated joint venture agreement in order to expedite the set up of the joint venture. Under the amended agreement, the parties will make cash contributions to the joint venture vehicle in accordance with a revised schedule, which will facilitate approval by the Taiwanese regulatory authorities. The amended agreement will not alter the economic substance of the original agreement as all other terms will remain the same, including the 50/50 ownership of the joint venture by the parties.

Recyclico's management has recently visited the site of the future plant in Taiwan, in addition to holding extensive discussions with Zenith on the technical and business aspects of the plant's design and construction. Moreover, the parties have identified several battery market opportunities and collaborators that promote the completion of the plant.

"We are very pleased with the progress of the joint venture, and excited by the prospect of a ramp up in the near future," said Zarko Meseldzija, chief executive officer of Recyclico.

The commercial plant, once completed, will utilize Recyclico's advanced hydrometallurgical recycling process to convert approximately 2,000 tonnes of black mass per year into battery-grade lithium-carbonate (Li2CO3), lithium hydroxide (LiOH) and precursor cathode active material (pCAM) for future lithium-ion battery manufacturing.

About Recyclico Battery Materials Inc.

Recyclico Battery Materials is a battery materials company specializing in sustainable lithium-ion battery recycling and materials production. Recyclico has developed advanced technologies that efficiently recover battery-grade materials from lithium-ion batteries, addressing the global demand for environmentally friendly solutions in energy storage. With minimal processing steps and up to 99 per cent extraction of lithium, cobalt, nickel and manganese, the patented, closed-loop hydrometallurgical process turns lithium-ion battery waste into battery-grade cathode precursor, lithium hydroxide and lithium carbonate for direct integration into the remanufacturing of new lithium-ion batteries.

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