Mr. Allen Wilson reports

JERICHO ENERGY VENTURES' PORTFOLIO COMPANY H2U ACHIEVES UNPRECEDENTED PERFORMANCE AND DURABILITY WITH NON-IRIDIUM CATALYSTS

Jericho Energy Ventures Inc.'s portfolio company, H2U Technologies, a next-generation electrolyzer developer, has released results from durability tests on new, lower-cost, iridium-free catalyst materials that demonstrate a projected lifetime of 25,000 hours.

Jericho co-led H2U's 2021 Series A financing, alongside Dolby Family Ventures, Hess Corp. and Motus Ventures, and also has an appointee to H2U's board of directors.

H2U's new durability test results represent a significant milestone and address supply chain bottlenecks for sustainable hydrogen production with proton exchange membrane (PEM) electrolyzers.

Discovering non-iridium catalysts for commercial applications has been challenging, as novel materials often degrade rapidly under the harsh acidic conditions of the oxygen evolution reaction (OER). For perspective, the best iridium-free catalysts known to date offer lifetimes of approximately 1,000 to 1,400 hours. With a baseline of over 4,000 hours of continuous operation thus far, H2U's iridium-free catalysts, tested at 10-times higher current density, are demonstrating projected lifetimes of over 25,000 hours. H2U catalysts are projected to last at least six years for targeted applications, such as in PEM electrolyzers paired with curtailed renewables.

H2U's innovative catalysts are cost-effective and more readily available than iridium. Utilizing these affordable alternatives expands the possibilities for electrolyzer stack design, enabling H2U to explore avenues unrestricted by ultrathin catalyst layers and low usage of catalysts. H2U believes this flexibility should significantly reduce capital expenses, producing more affordable delivered hydrogen.

The full H2U news release regarding its milestone durability tests can be viewed at the H2U website.

About Jericho Energy Ventures Inc.

Jericho Energy Ventures is an energy company positioned for the current energy transitions -- owning, operating and developing both traditional hydrocarbon joint venture assets and advancing the low-carbon energy transition, with active investments in hydrogen. Jericho Energy Ventures' wholly owned subsidiary, Hydrogen Technologies, delivers breakthrough, patented, zero-emission boiler technology to the commercial and industrial heat and steam industry. Jericho Energy Ventures also holds strategic investments and board positions in H2U Technologies (a breakthrough electrocatalyst and low-cost electrolyzer platform) and Supercritical Solutions (developing the world's first high-pressure, ultraefficient electrolyzer). Jericho Energy Ventures also owns and operates long-held producing oil and gas joint venture assets in Oklahoma, which it is currently developing from cash flows in an effort to further increase production into the current elevated commodity price environment.

We seek Safe Harbor.