Highlights

• Positive feedback from SMM’s cell manufacturer and automaker customers on One-Pot™ samples
• Latest-generation LFP cathode material now ready for those customers as the next step in qualification
• Nano One estimates potential savings of up to US$1 million per year for every 1,000 tonnes per annum of capacity, based on SMM’s evaluation of One-Pot™

Company Website: https://nanoone.ca/
VANCOUVER, British Columbia -- (Business Wire)

Nano One® Materials Corp. (“Nano One” or the “Company”) (TSX: NANO) (OTCQB: NNOMF) (Frankfurt: LBMB), a process technology company specializing in lithium-ion battery cathode active materials, provides an update on its strategic collaboration with Sumitomo Metal Mining Co., Ltd. (TSE: 5713) (“SMM”), a strategic project partner under Nano One’s NRCan-funded programs.

Since SMM’s strategic investment in 2023, the two companies have been closely collaborating on both technical and commercial aspects of the Company’s LFP cathode material production technology. The focus on LFP chemistry remains a key priority for this partnership, given the significant market opportunity as LFP continues its robust growth in volume and share of the lithium battery energy storage segment.

Munekazu Kawata, Managing Executive Officer, General Manager of SMM’s Battery Materials Division said, “Our economic modelling of the One-Pot process continues to be positive, and we see it as a high-quality, cost-effective manufacturing solution for LFP cathode materials with potential from both a production and a commercial standpoint. Our customers have provided positive feedback on samples produced through the One-Pot process. We continue to advance our own LFP business, and our collaboration with Nano One is complementary to it as we work to serve growing demand for LFP.”

Continued Validation Work

SMM has continued to advance its validation work on the One-Pot process over the past year, including its own economic modelling, product testing and the supply of One-Pot LFP samples to its customers. This reflects SMM's stated commitment to providing large, secure supplies of high-quality LFP cathode materials to markets around the world as demand grows. SMM continues to advance its existing LFP production and solid-phase process development while evaluating One-Pot as a complementary route to cost-competitive supply for its customers. Based on that modelling, Nano One estimates potential conversion cost savings of up to US$1 million per year for every 1,000 tonnes of annual capacity.¹ The positive customer feedback on One-Pot samples follows from that work and builds on the confidence in the One-Pot process that SMM expressed in September 2025.

“Sumitomo Metal Mining is a well-established producer with over two decades of experience in battery cathode materials. We are pleased that SMM sees the potential of our proprietary One-Pot technology from both a production and a commercial standpoint, and that their customers are responding positively to our samples. I believe this will further enhance the value proposition to potential customers, licensees and joint venture partners that we are engaging with. We are appreciative of the support and guidance that SMM has provided Nano One since their initial investment in the Company and are very pleased to see them advancing sampling of our One-Pot LFP with their own customers,” said Denis Geoffroy, COO of Nano One.

Advancing Towards Commercial Supply

Nano One's latest One-Pot LFP has reached a pressed density suitable for evaluation by high-performance cell producers and samples are ready for customer evaluation. Engagement with SMM's existing cell manufacturing and automotive customers is underway. These are key steps in a multi-step product qualification pathway that must be completed in order to advance to eventual commercial offtake.

Strategic Collaboration

SMM and Nano One continue to work towards collaboration on a large-scale LFP production facility in Canada, subject to securing customer offtake, project financing and government funding support. SMM has participated as an in-kind project partner under the C$9.3 million NRCan Energy Innovation Program funding awarded to Nano One and has also been contributing technical expertise, testing and external validation as part of the C$3 million NRCan LFP supply chain initiative.

About Nano One®

Nano One® Materials Corp. (Nano One) is a process technology company changing how cathode active materials (CAMs) are produced for lithium-ion batteries. Nano One’s platform is built on a portfolio of patented processes, decades of manufacturing know-how and modular plant designs that enable scalable, cost-competitive and easier-to-permit CAM production with resilient supply chains. The technology eliminates wastewater and byproducts while enabling regionally sourced raw materials and reducing exposure to foreign supply chain volatility. Modular plants are designed with fewer steps to reduce capex, energy and environmental intensity and to accelerate deployment, manufacturing and licensing. Product development and process optimization are based at Nano One’s Innovation Centre in Burnaby, British Columbia while piloting, demonstration and commercial production are based in Candiac, Québec, supported by a team with more than 15 years of commercial cathode manufacturing experience supplying global cell manufacturers. Strategic collaborations with global partners including Sumitomo Metal Mining, Rio Tinto and Worley support Nano One’s Design-One-Build-Many growth strategy. Nano One has received funding support from the Governments of Canada, the United States, Québec and British Columbia.

For more information, please visit nanoOne.ca.

Cautionary Notes and Forward-Looking Statements

Certain information contained herein may constitute “forward-looking information” and “forward-looking statements” within the meaning of applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements. Generally, forward-looking information can be identified by the use of terminology such as ‘believe’, ‘expect’, ‘anticipate’, ‘plan’, ‘intend’, ‘continue’, ‘estimate’, ‘may’, ‘will’, ‘should’, ‘ongoing’, ‘target’, ‘goal’, ‘potential’ or variations of such words and phrases or statements that certain actions, events or results “will” occur.

Forward-looking information in this news release includes, but is not limited to: the Company’s collaboration with Sumitomo Metal Mining Co., Ltd. (“SMM”), including SMM’s continued validation of the One-Pot™ process through economic modelling, product testing and the supply of One-Pot LFP samples to its customers; the anticipated positive feedback from, and engagement with, SMM’s cell manufacturing and automotive customers on One-Pot LFP samples; the readiness of the Company’s latest-generation LFP cathode material samples for evaluation by lithium battery cell manufacturers and a Japanese automotive customer; the estimated potential conversion cost savings of up to US$1 million per year for every thousand tonnes of annual capacity based on SMM’s modelling; the anticipated benefits of the One-Pot process as a high-quality, cost-effective and complementary manufacturing solution for LFP cathode materials; the product qualification pathway and the Company’s ability to advance toward eventual commercial offtake; the potential enhancement of the Company’s value proposition to customers, licensees and joint venture partners; the potential collaboration between SMM and Nano One on a large-scale LFP production facility in Canada, including the securing of customer offtake, project financing and government funding support; SMM’s continued participation as a project partner under the Company’s NRCan-funded programs; and anticipated demand and growth for LFP in the lithium battery energy storage segment.

Forward-looking statements are based on the current opinions and estimates of management as of the date such statements are made and are not, and cannot be, a guarantee of future results or events. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including but not limited to: the outcome of customer sample evaluations and the risk that positive feedback does not result in successful product qualification, commercial offtake or definitive agreements; the accuracy of SMM’s and the Company’s economic modelling and cost savings estimates, which are subject to assumptions that may differ materially from actual results; SMM’s continued interest in and commitment to its collaboration with the Company; the Company’s ability to secure customer offtake, project financing and government funding on acceptable terms or at all; receipt of the total amount of announced anticipated funding from NRCan and other government related grants and loans; the continued advancement of SMM’s own LFP business and solid-phase process, which may compete with or reduce the need for the One-Pot process; the timely execution of the Company’s business plans; the development of technology, supply chains and cathode production facilities; the Company’s ability to achieve its stated goals and commercialize its technology and patents via license, joint venture, DevCo or independent production; general and global economic, geopolitical and regulatory changes; trade and export controls; anticipated global demand and projected growth for LFP batteries; and other risk factors as identified in Nano One’s Annual Information Form dated March 25, 2026, for the year ended December 31, 2025, its MD&A for the year then ended, and in recent securities filings for the Company which are available at www.sedarplus.ca. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company does not undertake any obligation to update any forward-looking statements or forward-looking information that is incorporated by reference herein, except as required by applicable securities laws.

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Contacts:

Company:
info@nanoone.ca
+1 (604) 420-2041

Source: Nano One Materials Corp.