Dr. Carolyn Myers reports

FENDX COMPLETES SECOND PILOT RUN TO MANUFACTURE REPELWRAP(TM) FILM USING DUNMORE'S COMMERCIAL EQUIPMENT

Fendx Technologies Inc. has completed a second pilot manufacturing run on Dunmore International Corp.'s commercial manufacturing equipment which was successful in furthering optimization of the Repelwrap film manufacturing process and advancement of the company's scale-up development initiatives of Repelwrap film.

The results of the first pilot manufacturing run, announced on Oct. 3, 2023, confirmed the Repelwrap film formulation can be scaled up and was suitable for automated manufacturing. The first pilot run involved a two-pass coating process that involved the sequential coating of a roll of plastic film with each chemical used in the formulation, which required adjustments to the manufacturing line between each coating. This first run was successful and resulted in production of intermediate-sized sheets of film covered with the company's nanotechnology, and even with the adjustments between coatings, significantly reduced the manufacturing time compared with McMaster University's original lab prototype which took approximately 24 hours.

In this second pilot run, the company looked to further optimize the manufacturing process and further reduce manufacturing time. Using Dunmore's commercial manufacturing equipment, the company tested coating the plastic film roll in only one pass with a solution that combined all the chemicals used in the company's Repelwrap film formulation, so that no adjustments would be needed to the manufacturing line since there was only one coating to be applied. This second pilot run confirmed the plastic film could be coated with a combined mixture and reduce the manufacturing time compared with the first pilot run, which supports the company's ability to further advance and optimize the manufacturing process. The company plans to continue to refine the manufacturing process and conduct further testing, including real-world conditions testing.

"We are pleased with the advancements we are making as we continue to optimize the manufacturing process of the Repelwrap film formulation and are confident that we are on track to produce a product that meets the repelling properties we aim for in a cost-efficient way," said Dr. Carolyn Myers, chief executive officer of Fendx. "Our collaboration with Dunmore and McMaster is proving to be very valuable in our efforts to advance the manufacturing process as demonstrated in our first and second pilot manufacturing runs."

The company entered into a development-stage agreement with Dunmore, a Steel Partners Holdings LP operating company, to assess scale-up of Repelwrap film, as previously announced on April 12, 2023. On June 22, 2023, the company announced they had successfully completed the first phase of the work to adapt McMaster University's lab prototype formula to Dunmore's manufacturing process. The second phase of the work, which is in progress, is to conduct automated pilot runs on Dunmore's commercial manufacturing equipment.

About Repelwrap film

Repelwrap film is the company's first product under development and is a protective surface coating film that leverages the company's award-winning nanotechnology. Repelwrap film has demonstrated unique repelling properties that prevent the adhesion of pathogens, bacteria and viruses, reducing their transmission on surfaces prone to contamination. The company believes Repelwrap film will have applications in health care settings and other industries.

About Fendx Technologies Inc.

Fendx is a Canada-based nanotechnology company focused on developing products to make people's lives safer by reducing the spread of pathogens. The company is developing both film and spray products to protect surfaces from contamination. The lead product under development, Repelwrap film, is a protective surface coating film that, due to its repelling properties, prevents the adhesion of pathogens and reduces their transmission on surfaces prone to contamination. The spray nanotechnology is a bifunctional spray coating being developed to reduce contamination on surfaces by repelling and killing pathogens. The company is conducting research and development activities using its nanotechnology in collaboration with industry-leading partners, including McMaster University. The company has an exclusive worldwide licence to its technology and intellectual property portfolio from McMaster, which encompass both film and spray coating nanotechnology formulations.

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