Mr. Carlos Vicens reports

FULL CIRCLE LITHIUM'S PROPRIETARY LITHIUM-ION BATTERY FIRE EXTINGUISHING AGENT PROVEN HIGHLY EFFECTIVE IN THIRD-PARTY LABORATORY TESTING

Full Circle Lithium Corp. has released the latest third party testing results of its lithium-ion battery fire-fighting agent.

An independent United States-based accredited third party laboratory conducted a series of tests utilizing different size lithium-ion batteries, including a collection of 19 NMC 2,800-milliampere-hour battery cells, a 960-watt-hour electric bike battery (made up of 48 by 18,650 NMC cells) and, most recently, an electric-vehicle-size 57-kilowatt-hour battery. The third party laboratory reported on the first two test results and will report on the EV-size battery test after all internal analyses and comparisons are completed.

Uncontrollable lithium-ion battery fires are proving to be a growing critical risk and challenge worldwide given the continued growth of electric lithium-ion battery-powered devices as well as for e-mobility and energy storage systems. The purpose of the third party testing was to compare and understand the effects of different extinguishing agents on secondary lithium-ion batteries undergoing thermal runaway. The testing protocol was developed by a third party laboratory to replicate current industry standards for lithium-ion propagation testing as well as fire suppression certification testing outlined in UL 9540A fourth edition and UL 711 eighth edition.

While all three agents (the Full Circle agent, water and the leading third party fire-fighting agent) mitigated the initial fires, the Full Circle agent was orders of magnitude faster to extinguish the fires with only one application applied and produced considerably less volume of smoke (which contain hazardous chemicals). Water alone was only able to put out the battery fires after several voluminous applications as the batteries reignited multiple times. This highlights Full Circle agent's potential for rapid and effective lithium-ion battery fire control in real-world settings.

The EV-size battery fire testing was recently completed, and the third party laboratory will provide its report once its analysis is completed. Full Circle's personnel observing the EV fire testing reported that the Full Circle agent extinguished the fire quickly and safely, with limited hazardous smoke being released.

Carlos Vicens, founder and chief executive officer, stated: "We are very excited by these results that have now validated and surpassed our internal initial views. The FCL agent is proving to be fast-acting, safe and effective on both small- and large-scale lithium-ion battery fires. We also believe our FCL agent has significant advantages in health/safety/environment concerns and costs when compared to other competing agents. We will now focus on having the FCL agent UL rated for both retail and commercial use over the upcoming months as well as having broader discussions with third parties on potential market avenues."

Join Mr. Vicens, CEO of Full Circle Lithium, for a live virtual event

Learn more about this massive breakthrough in modern-day safety, with incredible global implications, and ask questions during the interactive question-and-answer.

Date and time: Tuesday, March 26, at 11 a.m. ET/8 a.m. PT

About Full Circle Lithium Corp.

Situated in the epicentre of the largest EV buildout in North America, Full Circle's fully permitted lithium carbonate processing plant in the state of Georgia, U.S., combined with a complement of seasoned lithium experts, makes Full Circle a unique processor and manufacturer of lithium compounds. Full Circle is focused on lithium and battery materials reintegration to meet the demand for crucial battery-grade raw materials, utilizing proprietary technology and know-how. In addition to its lithium carbonate plant, Full Circle is focused on three complementary feedstock processing divisions: battery recycling from off-spec and end-of-life lithium-ion batteries; lithium mid-stream recycling from industrial and chemical feedstock; and lithium refinery from upstream feedstock. Following on the company's mantra of "the home of lithium science," Full Circle has also developed, and filed a patent application for an innovative battery fire-extinguishing agent, to address the increasing number of difficult to extinguish and hazardous lithium-based fires.

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