Mr. Bernard Tourillon reports

HPQ PUREVAP(TM) GEN3 QRR PROJECT UPDATE

HPQ Silicon Inc. would like to provide shareholders with an update on the latest developments for the continuing Purevap Gen3 quartz reduction reactor pilot plan project (Gen3 QRR) since its Aug. 9, 2023, release.

The work completed so far has successfully validated approximately 80% of the project's key milestones, which include:

Achieving 99.5% Silicon purity (2N+) from the outset, a level that exceed best commercially available purity threshold.

Scaling up production by 2,500X from PUREVAP(TM) Gen2 QRR.

Demonstrating the semi-continuous batch production capability of the reactor.

Achieving one-step production of 3N+ Silicon or battery-grade Silicon.

Production of silicon using 25% less feedstock than conventional carbothermic processes that use a ratio of 6 tonnes (t) of raw materials to produce 1 ton of metallurgical grade silicon (MG Si - 98.5% to 99.5%) [1].

To successfully achieve the Silicon pour, PyroGenesis Canada Inc. ( TSX: PYR ) ( NASDAQ: PYR ) ( FRA: 8PY ) - the project's technology provider - completed essential upgrades to enhance the Gen3 QRR design in September 2023. These modifications were implemented to improve the fluidity of liquid silicon at the reactor's base. This was an issue that has prevented successful silicon pour during previous tests.

Also, PyroGenesis made some additional upgrades to the system, like improving the QRR crucible design to minimize silicon contamination during the pouring process.

Furthermore, PyroGenesis informed HPQ that the modified crucible will be delivered to the testing facility this week and that, if all goes according to plan, the silicon pour should be completed the following week.

"The key milestones reached to date by Gen3 QRR are demonstrations of how the HPQ PUREVAP(TM)

QRR process is progressing and is on the path to modernize the production of high-purity Silicon," stated Bernard Tourillon, President & CEO of HPQ Silicon. "Our technology has the potential to transform a century-old industrial process - known for its significant CO 2 emissions - into an efficient, scalable, and low carbon manufacturing process."

During the past month, HPQ's three key initiatives - Silicon, Fumed Silica, and Autonomous Hydrogen Generation via Hydrolysis - have all achieved significant milestones as we diligently executed our business plan.

HPQ SILICON INITIATIVE:

The demand for silicon is projected to surpass 3.8 million tonnes, valued between US$15 billion and US$20 billion, by 2025 [3]. These numbers do not take into consideration the 300,000 t of Silicon-based anode material demand projected by 2030, representing another market estimated to be worth about US$ 15 billion [4] that will need 3N+ Silicon as feedstock.

The conventional silicon manufacturing processes, with purity ranging from 98.5% to 99.5%, are both expensive and energy intensive. The process, invented in 1899, is still utilized today, making Silicon production the largest CO2 emitter among all metals and non-ferrous metals. This information is based on the Intergovernmental Panel on Climate Change (IPCC), a United Nations body dedicated to climate change research [5].

"According to the plan, with the upgraded GEN3 QRR crucible back at the plant, we can anticipate that a successful Silicon pour is within our reach," added Mr. Tourillon.

About PyroGenesis Canada Inc.

PyroGenesis Canada Inc., 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. With a team of experienced engineers, scientists and technicians working out of its Montreal office, and its 3,800 m2 and 2,940 m2 R&D and manufacturing facilities, PyroGenesis maintains its competitive advantage by remaining at the forefront of technology development and commercialization. The operations are ISO 9001:2015 and AS9100D certified, having been ISO certified since 1997. For more information, please visit: www.pyrogenesis.com.

About HPQ Silicon

HPQ Silicon Inc. ( TSX-V: HPQ ) is a Quebec-based TSX Venture Exchange Tier 1 Industrial Issuer. HPQ is developing, with the support of world-class technology providers PyroGenesis Canada Inc. ( TSX: PYR ) ( NASDAQ: PYR ) and NOVACIUM SAS, new green processes crucial to make the critical materials needed to reach net zero emissions. HPQ activities are centred around the following five (5) pillars:

1) Becoming a green low-cost (Capex and Opex) manufacturer of Fumed Silica using the FUMED SILICA REACTOR, a proprietary technology owned by HPQ being developed for HPQ by PyroGenesis. 2) Becoming a zero CO2 low-cost (Capex and Opex) producer of High Purity Silicon (2N+ to 4N) using our PUREVAP(TM) "Quartz Reduction Reactors" (QRR) , a proprietary technology owned by HPQ being developed for HPQ by PyroGenesis. 3) Becoming a producer of silicon-based anode materials for battery applications with the assistance of NOVACIUM SAS. 4) HPQ SILICON affiliate NOVACIUM SAS is developing a low carbon, chemical base on demand and high-pressure autonomous hydrogen production system. 5) Working to become the first producer of nano silicon materials from High Purity Silicon chunks using our proprietary PUREVAP(TM) Nano Silicon Reactor (NSiR ), a technology owned by HPQ being developed for HPQ by PyroGenesis.

We seek Safe Harbor.