Mr. Sage Berryman reports

ALUULA AND AIRSEAS ENSURE ALUULA'S COMPOSITE FABRICS FOR SEAWING KITE FOR CARGO VESSELS TO MOVE TOWARDS DECARBONIZATION

Aluula Composites Inc. has executed a binding supply purchase agreement, effective Jan. 1, 2026, with Oceanicwing SAS, operating under the commercial name Airseas and owned by a major international shipping company. The 12-month purchase agreement guarantees Airseas a continued supply of Aluula's composite materials for constructing Airseas' Seawing system to meet key objectives and deadlines in the next phase of its development.

Airseas is a leading company developing and commercializing a towing kite system to harness wind power for cargo vessel transportation. The Seawing uses automated parafoil kite wings to tow cargo ships and can reach dynamic flight speeds of 150 kilometres per hour, with an estimated 20 per cent in fuel savings and associated emission reductions. During phase 1 of Seawing's development and verification, Aluula's materials were used to construct a 300-square-metre kite, which was tested in June, 2025. Phase 2 is now under way, and the size of a Seawing kite has been scaled to 600 square metres, with the first large kite having been constructed. The kite will be tested and verified for strength, reliability, operability and safety. Following successful land-based testing, sea trials are planned in 2026 with a large bulk carrier.

The companies have entered into a supply agreement to secure Aluula's composite fabrics for the next phase of the Seawing system's development. The purchase agreement sets fixed prices for Airseas and covers minimum material purchase volumes while also including updated payment terms. The agreement enables better co-ordination in ordering input materials and scheduling Aluula's production. This ensures Airseas can meet its timelines during this critical development stage as it progresses toward full-scale commercialization.

Building on sustainable innovation

"We are proud to be able to work with Airseas, united by a joint vision to accelerate sustainable innovation. By pioneering high performance, ultralight and recycle-ready composite fabrics, we are helping Airseas, and other companies, to establish new standards that will shape the future of the shipping industry towards decarbonization," said Sage Berryman, chief executive officer and president of Aluula.

Cutting-edge materials engineered for the ocean

Aluula's patented materials are built around ultrahigh molecular weight fibres that are known to be eight times stronger than steel for equivalent weight and are recycle ready. They are designed to meet the rigorous demands of wind propulsion at sea-strong, lightweight and high performance even under extreme ultraviolet exposure and saltwater conditions. Unlike traditional glued composites that risk delamination, Aluula's materials are engineered for durability and long-lasting use. They are recyclable at the end of their lifespan, supporting the global need for fully circular maritime solutions.

About Aluula Composites Inc.

Aluula is an ultralight, high performance and recycle-ready composite material brand that enhances the performance of outdoor gear. Proudly manufactured on the Canadian West Coast, Aluula's innovation is driven by a deep understanding that equipment does not need to sacrifice performance for sustainability. Aluula's materials are known for their unique construction capabilities and their ability to make products lighter, stronger and more sustainable.

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