Dr. Carolyn Myers reports

FENDX TO CONDUCT THIRD PILOT RUN ON DUNMORE'S COMMERCIAL MANUFACTURING LINE FOR FURTHER DEVELOPMENT OF REPELWRAP(TM) FILM

Fendx Technologies Inc. entered into a third development stage agreement on Jan. 23, 2024, with Dunmore International Corp., a Steel Partners Holdings LP operating company, for the company to continue its development efforts to optimize the intermediate scale-up of Repelwrap film and conduct a third manufacturing pilot run.

Dr. Carolyn Myers, chief executive officer of Fendx, states: "We are pleased with the progress we are making to advance the Repelwrap film scale-up development with Dunmore. This third pilot manufacturing run will give us the opportunity to further refine the manufacturing process and we anticipate will bring us that much closer to conducting real-world environmental conditions testing." Dr. Myers continues, "We are very fortunate to have strong collaborations with Dunmore and McMaster University who have been instrumental in our achievements with Repelwrap film to date."

On Oct. 3, 2023, the company announced completion of its first pilot run on Dunmore's commercial manufacturing line that confirmed the Repelwrap film formulation could be scaled up to an intermediate size and is suitable for automated manufacturing. On Jan. 10, 2024, the company announced it had completed its second pilot run. This run entailed combining the chemicals used to make Repelwrap film to enable a one-pass process on the manufacturing equipment to reduce machine adjustments needed between each coating, as was the case with the first pilot run. The second pilot run confirmed the plastic film could be coated with a combined mixture and reduced the manufacturing time compared to the first pilot run, which supports the company's ability to further advance and optimize the manufacturing process.

About Dunmore International Corp.

Dunmore is a global manufacturer of engineered coated and laminated films and foils with manufacturing facilities in the United States and Germany. Dunmore offers film conversion services such as coating, metallizing and laminating along with contract film manufacturing and custom film product development. Dunmore services a diverse group of industries including aircraft, spacecraft, photovoltaic, graphic arts and labels, packaging, and insulation. Dunmore is a subsidiary of Steel Partners and is ISO 9001:2015 and OSHA VPP Star certified.

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 encompasses both film and spray coating nanotechnology formulations.

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