Mr. Braam Jonker reports

COTEC FILES PRELIMINARY ECONOMIC ASSESSMENT AND TECHNICAL REPORT FOR THE LAC JEANNINE MINE TAILINGS RECLAMATION AND RESTORATION PROJECT, QUÉBEC, CANADA

Cotec Holdings Corp. has filed an independent National Instrument 43-101 technical report entitled "Mineral Resource Estimate, Preliminary Economic Assessment and NI 43-101 technical report for Cotec's Lac Jeannine Mine Tailings Reclamation and Restoration project, Canada" dated June 24, 2026, and having an effective date of March 23, 2026, prepared by JPL GeoServices Inc., Soutex Inc., Amerston Consulting Ltd. and Axe Valley Mining Consultants Ltd. (the PEA).

The results of the PEA were previously announced by the company in a news release dated May 20, 2026.

The company is not aware of any new information or data that materially affects the information included in the PEA results release and confirms that there are no material differences in the results of the preliminary economic assessment between the PEA and the PEA results release.

A copy of the PEA is available under the company's profile on SEDAR+ and the company's website.

The Lac Jeannine mine tailings reclamation and restoration project

The Lac Jeannine property comprises a contiguous block of 31 mineral claims covering an aggregate of 1,649.34 hectares (ha) in the Caniapiscau regional county municipality (RCM) of the Cote-Nord region of Eastern Quebec, approximately eight kilometres (km) southeast of the abandoned town site of Gagnon and 290 km north of the city of Baie-comeau. The property is located on the traditional territory of the Innu of Pessamit.

The project encompasses the former Lac Jeannine open pit mine, from which approximately 260 million long tons of ore at 33 per cent iron, in mainly specular hematite form, was extracted between 1961 to 1976. The property also covers the tailings storage facility (TSF), the area where the tailings from the on-site ore concentrator were deposited but not reclaimed. In 1984 the Lac Jeannine Lake mining and processing facilities were shut down.

The Lac Jeannine mine site is identified by Quebec's Ministry of Natural Resources and Forests (MRNF) as the largest abandoned mining site under government responsibility. Cotec's focus is on the tailing's material, planned to be reprocessed for residual iron and rehabilitate the TSF to as close to its natural state as possible.

About Cotec Holdings Corp.

Cotec is redefining the future of resource extraction and recycling. Focused on rare-earth magnets and strategic materials, Cotec integrates breakthrough technologies with strategic assets to unlock secure, sustainable and low-cost supply chains.

Cotec's mission is clear: accelerate the energy transition while strengthening strategic mineral supply chains for the countries it operates in. By investing in and deploying disruptive technologies, the company delivers capital-efficient, scalable solutions that transform marginal assets, tailings, waste streams and recycled products into high-value critical minerals.

From its HyproMag USA magnet recycling joint venture in Texas, to iron tailings reprocessing and reclamation in Quebec, to next-generation copper and iron solutions backed by global majors, Cotec is building a diversified portfolio with long-term growth, rapid cash flow potential and high barriers to entry. The result is a differentiated platform at the intersection of technology, sustainability and strategic materials.

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