Mr. Denis Geoffroy reports

NANO ONE ADVANCES CANDIAC LFP PRODUCTION CAPACITY EXPANSION PROJECT, DETAILED ENGINEERING & EQUIPMENT PROCUREMENT

Nano One Materials Corp. has provided a progress update on its lithium-iron-phosphate (LFP) production capacity expansion project at its Candiac facility, which will result in an increased capacity of 800 tonnes per annum.

Highlights:

• Detailed engineering work has progressed as planned and is targeted for completion by July, 2026.
• Purchase orders for major equipment have been issued and fabrication is in progress with suppliers in various countries.
• Work activities to date are advancing the 800-tonne-per-annum expansion project toward construction readiness.
• Procurement and vendor qualification will also support future licensing and technology solution offerings.

Following the investment decision gate announced in Q4 2025, detailed engineering work has now progressed past 25 per cent and is targeted for completion by July, 2026. Purchase orders have been initiated for major equipment with suppliers in France, Germany and other countries. Vendor selection has been completed for the balance of major equipment packages and the activities to date are important steps toward construction readiness. As disclosed in the company's prospectus supplement dated Dec. 8, 2025, the company is targeting completion of procurement, installation and commissioning of the newly expanded production capacity in the first half of 2027.

"Advancing detailed engineering and long-lead equipment procurement at Candiac has progressed as scheduled and according to plan," states Denis Geoffroy, chief operating officer of Nano One. "I am confident that this expansion project will be completed on budget and on time for the first half of 2027."

The current equipment procurement and vendor qualification work will also help Nano One prepare for its future licensing and technology solutions. Equipment compatibility and vendor qualification will support the company's CAM (cathode active materials) package commercial offerings.

Nano One's Candiac facility includes multiple One-Pot production lines, each designed for a distinct role in technology development, demonstration and scale-up.

The piloting line, which was commissioned at the end of 2023, consists of two two-cubic-metre reactors and supports scale-up, customer qualification and small-volume production.

The commercial demonstration line integrates the existing 20-cubic-metre reactor with the balance-of-plant to form an automated production line. This forms the basis for near-term commercial production and supports product and process validation with larger-volume offtakers and potential licensees of Nano One's modular plant design.

The engineering work is specifically directed to the integration and automation of an existing 20-cubic-metre reactor and scaling up its production capacity to 800 tonnes per year once completed. At 20 cubic metres, this reactor is already at full-scale and its design can be replicated many times, in a modular fashion, to meet the capacity requirements of higher-volume LFP production plants.

About Nano One Materials Corp.

Nano One Materials is a technology company changing how the world makes cathode active materials for lithium-ion batteries. Applications include stationary energy storage systems (ESS), portable electronics and electric vehicles (EVs). 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 existing plant and decades of commercial lithium-iron-phosphate (LFP) manufacturing experience. Strategic collaborations and partnerships with international companies such as 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 materials production solutions around the world. 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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