Mr. Dan Sutton reports

SYNTHOLENE ENGAGES IMPERIAL COLLEGE OF LONDON EXPERT FOR INDEPENDENT TECHNICAL REVIEW OF OPERATING DATA FROM ICELAND DEMONSTRATION FACILITY

Syntholene Energy Corp. has engaged researchers from Imperial College London, through Imperial Consultants, a wholly owned subsidiary of Imperial College London, to conduct an independent technical review of operating data from the company's geothermal-integrated solid oxide electrolysis cell demonstration facility in Husavik, Iceland.

The review will be undertaken by Dr. Nigel Brandon, OBE, FREng, FRS, dean of the faculty of engineering and professor of sustainable development in energy at Imperial College London.

"Prof. Brandon has been engaged to perform technical review on Syntholene's operating data from our Iceland demo facility. Syntholene will utilize this data to understand the extent to which the company's unique thermal hybrid architecture can support enhanced efficiencies and cost advantages," stated Dan Sutton, chief executive officer of Syntholene. "Dr. Brandon brings deep experience in solid oxide electrolyzer cells, systems integration and the commercialization of electrochemical systems. This engagement is intended to establish what efficiency gains Syntholene's operating data supports, and prepare us to move from technology demonstration to commercial project planning."

As announced on Sept. 8, 2026, Syntholene has completed phase 1 of its effect testing program and initiated phase 2 high-power operations. The review conducted through Imperial Consultants is intended to assess the performance of the integrated SOEC, thermal coupling heat exchanger and balance of plant systems. High-power operating data are expected to be included in the review concurrently as they become available.

Scope of the independent technical review

Dr. Brandon has been engaged to independently analyze operating data from Syntholene's demonstration facility, and prepare a technical report addressing, among other things, electrical consumption per kilogram of hydrogen produced, projected commercial system efficiency including balance-of-plant electrical loads, operational stability, capacity factor and variability. The review will also examine whether there is evidence of degradation in the SOEC stack and heat exchange system over the available operating period, together with any other technically significant observations.

The report is also expected to address projections and modelling of how demonstrated performance may translate to a commercial-scale configuration.

Prof. Nigel Brandon

Prof. Brandon is the dean of Imperial College London's faculty of engineering and professor of sustainable development in energy. He earned his engineering degree and PhD at Imperial and returned as an academic in 1998 following a 14-year research career with BP and Rolls-Royce. His work spans fuel cells, electrolyzers and flow batteries, with a focus on the science, engineering and practical application of electrochemical energy technologies.

He co-founded Ceres Power, an Imperial spinout established in 2000 that develops solid oxide fuel cell and electrolyzer technology, and previously served as its chief executive officer, chief technology officer and chief scientist. He also co-founded flow-battery company RFC Power and was the founding director of Imperial's Energy Futures Lab and Sustainable Gas Institute.

Prof. Brandon is a fellow of the Royal Society and the Royal Academy of Engineering, and an international member of the U.S. National Academy of Engineering. His election to the U.S. academy recognized his contributions to solid oxide fuel cell science, engineering and commercialization. His honours include an OBE for services to United Kingdom-Chinese science, the American Society of Mechanical Engineers' Francis Bacon medal in 2014 and the Christian Friedrich Schonbein gold medal of honour in 2024 for contributions to solid oxide technology.

Timing and other considerations

Syntholene anticipates receiving the final report before the end of 2026. Imperial Consultants will be paid a fixed cash fee in the amount of 27,500 pounds sterling for its services. Such fee is not success or contingency based, and Imperial Consultants and Prof. Brandon act independently of the company.

Update regarding investor relations activity

Syntholene Energy further announced today that it has engaged various consultants to provide corporate marketing and communications support in accordance with Policy 3.4 of the TSX Venture Exchange.

About Euroswiss Capital Partners Inc.

Euroswiss is an international consulting company based in Switzerland. Euroswiss will assist the company with the development and dissemination of corporate information in Europe and serve as a strategic and financial consultant to the company in Europe.

The company has agreed to pay Euroswiss $60,000 for a six-month engagement. Euroswiss operates independently. To the knowledge of the company, neither Euroswiss nor its principals hold any securities of the company other than 266,666 common shares and 133,333 common share purchase warrants held by an associated party of Euroswiss, nor do they any other rights to acquire securities of the company except as may occur in the ordinary course of business. Euroswiss will not act as a broker dealer and will not receive any compensation for introducing investors to the company.

The company acknowledges that certain activities to be undertaken by Euroswiss, including dissemination of corporate information, may be considered promotional in nature under applicable securities policies and may result in increased visibility of the company's securities. The company's agreement with Euroswiss does not include any provisions that would require or incentivize Euroswiss to achieve or maintain a specific share price or trading volume.

The engagement of Euroswiss remains subject to the acceptance of the TSX Venture Exchange, and services will not commence until such acceptance has been obtained.

About Outside The Box Capital Inc.

Outside The Box is a third party marketing firm. OTB will assist the company with the development and dissemination of corporate information.

The company has agreed to pay OTB $150,000 for a six-month engagement. OTB operates independently. To the knowledge of the company, neither OTB nor its principals hold any securities of the company, nor do they have any right to acquire such securities except as may occur in the ordinary course of business. OTB will not act as a broker dealer and will not receive any compensation for introducing investors to the company.

The company acknowledges that certain activities to be undertaken by OTB, including dissemination of corporate information, may be considered promotional in nature under applicable securities policies and may result in increased visibility of the company's securities. The company's agreement with OTB does not include any provisions that would require or incentivize OTB to achieve or maintain a specific share price or trading volume.

The engagement of OTB remains subject to the acceptance of the TSX-V, and services will not commence until such acceptance has been obtained.

About Departures Capital Inc.

Departures Capital is a third party marketing firm. Departures Capital will assist the company with the development and dissemination of corporate information.

The company has agreed to pay Departures Capital $20,000 for a 12-month engagement. Departures Capital operates independently. To the knowledge of the company, neither Departures Capital nor its principals hold any securities of the company, nor do they have any right to acquire such securities except as may occur in the ordinary course of business. Departures Capital will not act as a broker dealer and will not receive any compensation for introducing investors to the company.

The company acknowledges that certain activities to be undertaken by Departures Capital, including dissemination of corporate information, may be considered promotional in nature under applicable securities policies and may result in increased visibility of the company's securities. The company's agreement with Departures Capital does not include any provisions that would require or incentivize Departures Capital to achieve or maintain a specific share price or trading volume.

The engagement of Departures Capital remains subject to the acceptance of the TSX-V, and services will not commence until such acceptance has been obtained.

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.

Syntholene operates the world's first geothermally integrated high-temperature electrolysis demonstration facility in Husavik, Iceland, which is producing 99.9-plus-per-cent-purity hydrogen.

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.

We seek Safe Harbor.