Mr. Bernard Tourillon of HPQ reports

GEN3 PUREVAP(TM) QRR PILOT PLANT UPDATE PROCESS VALIDATION CONTINUES MOVING FORWARD

HPQ Silicon Inc. would like to inform shareholders of the latest QRR process testing takeaways following the completion of test No. 5 under test series No. 1 last week.

Technology provider PyroGenesis Canada Inc. informed HPQ that: All data gathered during process improvement tests done on the Gen3 QRR pilot plant, following tests No. 1 through 4, have made the system more stable and predictable for use in the production of 2N-plus silicon, which is the best commercially available purity in the market.

During test No. 5, the pilot plant was successfully powered up to the required operating state and, as usual, feedstock was loaded into the system. After this, four production cycles were completed resulting in the production of a large liquid silicon bath at the bottom of the reactor. This validated the system's semi-continuous batch production mode.

Going forward, testing will focus on improving silicon production yield (test series No. 2) and final purity to reach the purity percentage needed by battery manufacturers and for use in other high-value applications (test series No. 3).

"The achievements reached to date demonstrates the effectiveness of process improvement tests and the dedication of the team working on the Gen3 QRR pilot plant project," said Bernard Tourillon, president and chief executive officer of HPQ Silicon. "The successful completion of the production cycles during test No. 5 validates the semi-continuous batch production mode of the system, indicating a promising future for the production of 2N-plus silicon. The team's focus on improving silicon production yield and final purity in test series No. 2 and No. 3 shows their commitment to continuously improving and delivering high-value products to their customers."

Test No. 5 presented the company with a challenge when an unexpected electrical malfunction occurred just as it was preparing to pour the melted silicon. However, it approached this setback pro-actively and the team swiftly implemented measures to address the issue.

While the cause of the malfunction was quickly identified and fixed, the reactor must cool down before the company can recover the silicon at the bottom. But it has a clear plan for what comes next. It will send some of the material to an outside laboratory for purity testing and send silicon chunks to Novacium for further evaluation as battery material, specifically micron-sized Si and SiOx powders.

The reactor is also being inspected and prepared for the next test; test No. 1 (under test series No. 2), tentatively scheduled for the second week of May, 2023.

"This unexpected hiccup does not affect the testing campaign which is still under way as we continue to modernize how silicon and high-purity silicon is produced; something that has not yet been achieved in over 100 years," added Mr. Tourillon.

About PyroGenesis Canada Inc.

PyroGenesis Canada, a high-tech company, is a leader in the design, development, manufacture and commercialization of advanced plasma processes and sustainable solutions which reduce greenhouse gases (GHG) and are economically attractive alternatives to conventional dirty processes. PyroGenesis has created proprietary, patented and advanced plasma technologies that are being vetted and adopted by multiple multibillion-dollar industry leaders in three massive markets: iron ore pelletization, aluminum, waste management and additive manufacturing.

About HPQ Silicon Inc.

HPQ Silicon is a Quebec-based TSX Venture Exchange Tier 1 industrial issuer. HPQ is developing, with the support of world-class technology partners PyroGenesis Canada and Novacium SAS, new green processes crucial to make the critical materials needed to reach net-zero emissions.

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