Mr. Dave Gagnon reports

CHARBONE HYDROGEN ANNOUNCES ITS STRATEGY TO REFOCUS ITS RESOURCES TOWARDS GREEN HYDROGEN

Charbone Hydrogen Corp. has made a change in its development and deployment strategy to refocusing all technical and financing resources toward green hydrogen rather than hydropower production. Charbone's priority is the completion of its first flagship green hydrogen facility in Sorel-Tracy (Quebec, Canada).

Furthermore, the purchase and sale agreement, lastly amended on May 30, 2023, for the acquisition of Tower Kleber LP, and Black River LP, both Michigan LPs, is terminated. Charbone will maximize its financial resources to support activities at the Charbone Hydrogen Quebec Inc., its fully owned subsidiary in Sorel-Tracy, that will own and operate the production facility.

"Charbone is refocusing all effort and resources on hydrogen because the future is all about hydrogen," stated Dave B. Gagnon, chief executive officer.

About Charbone Hydrogen Corp.

Charbone is a green hydrogen group established in North America. The company's strategy is to develop modular and expandable hydrogen facilities and regional hubs. Charbone will be able to produce green dihydrogen molecules using reliable and sustainable energy in order to distinguish itself as a supplier of an ecological solution for industrial, commercial and mobility users.

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