Mr. Paul Guedes reports

NANO ONE CLOSES $6.96 MILLION OVERNIGHT MARKETED OFFERING

Nano One Materials Corp. has closed its previously announced overnight marketed underwritten offering of 4,970,500 units, including 320,500 units issued pursuant to partial exercise of the overallotment option (as defined below), at a price of $1.40 per unit for aggregate gross proceeds of $6,958,700.

Canaccord Genuity Corp. acted as lead underwriter and sole bookrunner under the offering on behalf of a syndicate of underwriters including Roth Canada Inc. and Cormark Securities Inc.

Each unit consists of one common share of the company and one-half of one common share purchase warrant. Each warrant entitles the holder thereof to acquire, upon payment of $1.75 to the company, one common share of the company, subject to adjustment in certain circumstances, until Dec. 10, 2027.

The net proceeds of the offering are expected to be used for research and business development activities, expansion of the company's Candiac facility, working capital, and general corporate purposes.

Pursuant to the underwriting agreement and in consideration of the underwriters' services rendered in connection with the offering, the company paid to the underwriters a cash fee equal to 6.0 per cent of the aggregate gross proceeds in respect of the offering, subject to a reduced fee of 3.0 per cent of the gross proceeds for units sold by the underwriter to certain purchasers designated by the company on the president's list and issued to the underwriters on the closing date such number of compensation warrants as is equal to 6.0 per cent of the number of units sold pursuant to the offering, subject to a reduced number of compensation warrants equal to 3.0 per cent of the units sold by the underwriter to purchasers on the president's list. The characteristics of the compensation warrants are more particularly described in the prospectus supplement.

The units were offered in each of the provinces of Canada, except Quebec, pursuant to a short form prospectus supplement dated Dec. 8, 2025, pursuant to the company's short form base shelf prospectus dated April 26, 2024, and in the United States on a private placement basis by way of a confidential offering memorandum pursuant to certain exemptions from the registration requirements of the U.S. Securities Act of 1933, as amended, and applicable state securities laws. The company has granted the underwriters an overallotment option exercisable, in whole or in part, at the sole discretion of the underwriters, the details of which are set forth in the prospectus supplement, and any units, common shares or warrants issued on exercise of the overallotment would be qualified by the prospectus supplement and form part of the offering.

The common shares issued pursuant to the offering have been listed on the Toronto Stock Exchange.

About Nano One Materials Corp.

Nano One is a technology company changing how the world makes cathode active materials for lithium-ion batteries. Applications include stationary energy storage systems, portable electronics and electric vehicles. The company's patented One-Pot process reduces costs, is easier to permit, and lowers energy intensity, environmental footprint and reliance on problematic supply chains. The company is supporting the drive toward energy security, supply chain resilience, industrial competitiveness and increased performance through process innovation. Production is being piloted and demonstrated in Candiac, Que., drawing on the existing plant and decades of commercial lithium-iron phosphate manufacturing experience. Strategic collaborations and partnerships with international companies like Sumitomo Metal Mining, Rio Tinto and Worley are supporting a design-one-build-many licensing growth strategy -- delivering cost-competitive, easier-to-permit and faster-to-market battery material production solutions worldwide. Nano One has received funding from the government of Canada, the government of the United States, the government of Quebec and the government of British Columbia.

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