Mr. Pierre Yves Terrisse reports

NANOXPLORE RECEIVES TSX APPROVAL FOR NORMAL COURSE ISSUER BID

The Toronto Stock Exchange has approved Nanoxplore Inc.'s request to adopt a new normal course issuer bid program, through which Nanoxplore may purchase, for cancellation, up to 5,976,834 common shares or approximately 5 per cent of the public float (consisting of 119,536,699 common shares as of Feb. 24, 2025, out of the 170,608,431 common shares issued and outstanding). The corporation may purchase shares under the NCIB over a period of 12 months commencing on March 1, 2025, and ending Feb. 28, 2026, when the bid expires. NCIB purchases are made through the facilities of the TSX and Canadian alternative trading systems (such as Nasdaq CXC and CX2, TSX Alpha Exchange, and Omega ATS), and the price for any repurchased shares will be the prevailing market price at the time of the acquisition.

All common shares purchased by the corporation will be cancelled. The number of shares repurchased on any given day may not exceed 18,141 common shares, which are equal to 25 per cent of the average daily trading volume on the TSX for the six-month period ending Jan. 31, 2025, except where purchases are made in accordance with the block purchase exception of the TSX rules. The average daily volume for this period was calculated in accordance with the rules of the TSX and is equal to 72,567 common shares.

The corporation's board of directors believes that the purchase by the corporation of its own common shares may, in appropriate circumstances, be a responsible investment of funds on hand.

The extent to which Nanoxplore repurchases its shares and the timing of such repurchases will depend upon market conditions and other corporate considerations, as determined by Nanoxplore's management team. The corporation will use funds from its existing cash balances to purchase the shares.

Under the previously approved NCIB, which commenced on Dec. 1, 2023, and terminated on Nov. 30, 2024, Nanoxplore could repurchase up to 5,936,205 common shares. No common shares were repurchased under the previous NCIB.

About Nanoxplore Inc.

Nanoxplore is a graphene company, a manufacturer and supplier of high-volume graphene powder for use in transportation and industrial markets. Also, the corporation provides standard and custom graphene-enhanced plastic and composite products to various customers in transportation, packaging, electronics and other industrial sectors. The corporation is also a silicon-graphene-enhanced lithium-ion-battery manufacturer for the electric vehicle and grid storage markets. Nanoxplore is headquartered in Montreal, Que., with manufacturing facilities in Canada, the United States and Europe.

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