Mr. Dan Sutton reports

SYNTHOLENE ACCELERATES CONSTRUCTION OF DEMONSTRATION FACILITY BY SIX MONTHS, NOW TARGETING COMPLETION IN JUNE 2026

The construction of Syntholene Energy Corp.'s geothermal-integrated synthetic fuel demonstration facility in Husavik, Iceland, is ahead of schedule, and first operations could occur as soon as June, 2026. Effect testing and real-world data gathering are expected to commence shortly thereafter, and the company is targeting publication of its first efficiency and technoeconomic data as early as fourth quarter of 2026.

"Few advanced energy projects finish ahead of schedule, even at the demonstration stage," stated Dan Sutton, chief executive officer of Syntholene, "The fact that construction of Syntholene's demonstration facility is on track to finish six months ahead of schedule reflects the seasoned execution capabilities of Syntholene's engineering and project teams, as well as the elegance and modularity of the company's thermal hybrid architecture."

The accelerated construction timeline stems from the completion of several key engineering and manufacturing milestones ahead of schedule, including the fabrication of the demonstration facility's thermal coupling heat exchanger system in just 42 days. Factory acceptance and operational commissioning of the company's solid oxide electrolyzer cell system was also completed ahead of the originally scheduled fall 2026 completion timeline.

The demonstration facility has been designed to demonstrate the cost and energy efficiencies of integrating geothermal heat with high-temperature electrolysis for the production of low-cost hydrogen as the core feedstock for synthetic fuel production.

The company strives to become the first company to demonstrate the integration of geothermal heat with high-temperature electrolysis for synthetic fuel.

The demonstration facility is intended to validate continuous operational integration between geothermal heat infrastructure, SOEC hydrogen production and supporting balance-of-plant systems. Syntholene expects that data generated from the demonstration facility will support future engineering optimization, technoeconomic analysis, strategic partnerships and financing initiatives.

The company plans to host a site visit at the demonstration facility in Norturting, Iceland, in June for industry and market participants, strategic partners, and investors. Parties interested in attending may contact the company for additional information regarding timing and participation.

About Syntholene Energy Corp.

Syntholene is actively commercializing its novel hybrid thermal production system for low-cost clean fuel synthesis. The target output is ultrapure synthetic jet fuel, which the company seeks to manufacture at 70 per cent lower cost than the nearest competing technology today. The company's mission is to deliver the world's first truly high performance, low-cost and carbon-neutral synthetic fuel at an industrial scale, unlocking the potential to produce clean synthetic fuel at lower cost than fossil fuels for the first time.

Founded by experienced operators across advanced energy infrastructure, nuclear technology, low-emission steel refining, process engineering and capital markets, Syntholene aims to be the first team to deliver a scalable modular production platform for cost-competitive synthetic fuel, thus accelerating the commercialization of carbon-neutral e-fuels across global markets.

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