Mr. Bernard Tourillon reports

18650 TYPE BATTERIES MADE WITH ADVANCED SILICON BASED MATERIAL CONTINUES TO DELIVER STRONG PERFORMANCE AT 50 CYCLES

HPQ Silicon Inc.'s France-based affiliate, Novacium SAS, has achieved a major milestone. This underscores the promising results witnessed during the continuous charge-discharge cycle testing of 18650 industrial batteries, reaching a significant milestone at the 50-cycle mark. 18650 industrial batteries are considered the industry standard.

"These ongoing results continue to surpass our expectations," stated Dr. Jed Kraiem PhD, chief operating officer of Novacium. "The fact that battery consistently exceeds our internal theoretical estimate of a 10-per-cent improvement in battery performance, even after 50 cycles is a powerful validation of our approach."

Maintaining 14-per-cent battery capacity improvement with minimal degradation for 50 cycles

Analysis of the data reveals that the three industrial-type batteries, which utilize Novacium's custom-engineered silicon base material blend (blue lines), continue to demonstrate impressive performance at the 50-cycle mark. These batteries exhibit a high discharge capacity of approximately 3.18 ampere-hours (Ah), surpassing the benchmark set by three comparison batteries (red lines) with a capacity of 2.70 Ah. These results mark another significant milestone after 50 cycles of testing. These results confirm and extend the 14-per-cent enhancement in full-battery capacity compared to 100 per cent graphite benchmark batteries, that was observed in the previous five and 25 cycles testing.

Furthermore, the data reveal that, at the 50-cycle test mark, the measurable cycle degradation between the batteries made entirely of graphite (the red lines) ranges from 1 per cent to 2 per cent and those incorporating Novacium's custom-engineered silicon base material blend (the blue lines) is consistently around 1 per cent.

"These are encouraging indicators of the material's commercial viability in the battery manufacturing sector," added Dr. Kraiem. "These results underscore our ability to produce an advanced blend of graphite and engineered silicon material that significantly enhances battery performance."

Comparing capacity degradation between 18650 battery types

One of the best to ways to visualize the potencies of the degradation results to date is to compare side-by-side industry 18650 type graphite batteries capacity degradation with the Novacium 18650 batteries at the 50-cycle benchmark.

The data clearly demonstrate the potential of the company's material. At the 50-cycle test mark, the Samsung INR18650-35E battery capacity loss was around 5 per cent, while the HPQ and Novacium Gen 1 18650 industrial battery loss was near 1 per cent.

"I am profoundly encouraged by these promising results," expressed Bernard Tourillon, president and chief executive officer of HPQ Silicon and Novacium SAS. "Our vision extends far beyond mere innovation as we continue to see new third party interest in our material and capability to meet and exceed the rigorous demands being created across various industries."

About Novacium SAS

Novacium is an HPQ -- affiliated company started in Q3 2022. This green technology start-up is based in Lyon, France, and is a partnership with HPQ and three of France's leading research engineers, Dr. Jed Kraiem, PhD, Novacium's chief operating officer, Dr. Oleksiy Nichiporuk, PhD, Novacium's chief technical officer and Dr. Julien Degoulange, PhD, Novacium's chief innovation officer. Novacium is a new research and development company which allows the researchers to develop their own technology in high added-value fields connected to renewable energy, and allows HPQ Silicon, a Canadian company, to expand the depth and reach of its technical team to help develop its silicon and new renewable energy projects.

About HPQ Silicon Inc.

HPQ Silicon is a Quebec-based TSX Venture Exchange Tier 1 industrial issuer. HPQ is developing, with the support of world-class technology partners PyroGenesis Canada Inc. and Novacium SAS, new green processes crucial to make the critical materials needed to reach net-zero emissions.

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