Mr. Paul Cataford reports

LOOP ENERGY PROVIDES UPDATE TO PREVIOUSLY ANNOUNCED MERGER TRANSACTION

The merger transaction provided for in the amalgamation agreement between Loop Energy Inc., H2 Portable Power Corp. and 1465123 B.C. Ltd. dated Feb. 9, 2024, cannot be completed without an amendment, and as at the date of this announcement, no amendment has been proposed or agreed to. Accordingly, there can be no assurance that such transaction or a similar transaction will be completed.

About Loop Energy Inc.

Loop is a leading designer and manufacturer of hydrogen fuel stacks targeted for the electrification of commercial vehicles such as buses and trucks, as well as stationary power applications. Loop's products feature the company's proprietary eFlow technology in the fuel cell stacks' bipolar plates. eFlow technology enables customers to achieve superior performance and higher fuel efficiency when using Loop's fuel cell stacks, which lowers operating cost for end-users while enabling original equipment manufacturers to achieve lower capital cost and faster time to market. Loop works closely with its partners to enable the production of hydrogen electric solutions.

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