Mr. Dan Blondal reports

NANO ONE AND JOHNSON MATTHEY ENTER INTO A JOINT DEVELOPMENT AGREEMENT FOR LITHIUM-ION BATTERY MATERIALS

Nano One Materials Corp. and Johnson Matthey (JM), a global leader in sustainable technologies, have entered into a joint development agreement. Under this agreement the companies will co-develop next-generation products and processes for Johnson Matthey's eLNO family of nickel-rich advanced cathode materials using Nano One's patented One-Pot process and coated nanocrystal technology, for the low-cost, low-carbon-footprint production of high performance lithium-ion battery cathode materials.

JM has already made significant progress in the commercialization of its family of nickel-rich advanced cathode materials and has set a new standard in the sustainable production of battery cathode materials. Nano One's patented One-Pot process is designed to form a type of cathode material known as coated single crystal, which can deliver increased durability. The process will also enable these materials to be made directly from metal powders and lithium carbonate to address cost, energy and sustainability objectives across the entire lithium-ion battery supply chain.

The agreement will focus on developing materials, methods of production and a detailed commercialization study for prepilot, pilot and scaled-up manufacturing. The agreement is the culmination of successful technical reviews and preliminary evaluations of both Nano One's high nickel cathode materials and IP (intellectual property) conducted over the past year and represents a significant milestone in the business relationship between both companies.

Dan Blondal, Nano One chief executive officer, said: "Johnson Matthey is a global leader in advanced lithium-ion cathode materials, and we are proud to be working with them in the pursuit of high performance, long life cycles, low-carbon-footprint and environmentally sustainable solutions. We share a common vision to develop and commercialize a highly differentiated and value-added cathode materials business, and we are delighted to be introducing Johnson Matthey as a trusted partner and collaborating on process innovation for a new generation of lithium-ion battery materials. Our business is primed for such opportunities, and we look forward to advancing this partnership and its joint development program."

Christian Gunther, chief executive, battery materials, at Johnson Matthey, added: "We are encouraged by Nano One's innovations and believe its technology has the potential to offer significant advantages in terms of product performance, sustainability and manufacturing cost for our eLNO family of advanced cathode materials. We are looking forward to building business opportunities and a long-lasting collaborative working relationship."

About Nano One Materials Corp.

Nano One Materials is a clean technology company with a patented, scalable and low-carbon-intensity industrial process for the low-cost production of high performance lithium-ion battery cathode materials. The technology is applicable to electric vehicle, energy storage, consumer electronic and next-generation batteries in the global push for a zero-emission future. Nano One's One-Pot process, its coated nanocrystal materials and its metal-to-cathode active material (M2CAM) technologies address fundamental performance needs and supply chain constraints while reducing costs and carbon footprint. Nano One has received funding from various government programs, and the current scaling of advanced battery materials project is supported by Sustainable Development Technology Canada (SDTC) and the Innovative Clean Energy (ICE) Fund of the Province of British Columbia.

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