Mr. Paul Huizinga reports

QUESTOR ISSUES LETTER TO SHAREHOLDERS HIGHLIGHTING PLAN TO RESTORE STABILITY AND GROWTH, FILES MANAGEMENT INFORMATION CIRCULAR

Questor Technology Inc. today advised shareholders that it has issued a letter to shareholders and filed a management information circular in connection with the upcoming annual general meeting of shareholders scheduled for Sept. 9, 2026, at 1 p.m. MDT.

The circular and accompanying materials are available on Questor's website and SEDAR+.

A critical turning point for shareholders: continue to move forward or risk a return to instability

Questor is at a significant inflection point, having undergone a leadership transition and embarking on a focused strategy. Since the termination of former chief executive officer, Audrey Mascarenhas, in April, 2026, the independent directors of your board have taken decisive action to reposition the company, including appointing new leadership, reactivating core markets, and establishing a special committee of independent directors responsible for restoring stability and driving a refresh of the company's strategic direction.

"The independent directors of your board and refreshed leadership team have a plan in motion, and we have the right team in place to execute it," said Paul Huizinga, chair of the board. "We have set a clear course for growth: Questor's certified technology addresses a clear and growing market need, and we are focused entirely on delivering results for shareholders."

The company has received advance notice from Ms. Mascarenhas in accordance with the company's advance notice bylaw that she intends to nominate an alternate slate of directors at the meeting, including herself. The notice has been reviewed for compliance with the company's bylaw requirements.

Shareholders now face a defining choice between a focused and disciplined board with a clear plan for growth already in motion, or risk handing control back to the former CEO, whose tenures were marked by failed leadership, governance concerns and continuing litigation against the company.

Ms. Mascarenhas's record of value destruction and failed leadership

During Ms. Mascarenhas's tenures as CEO, the company experienced shifting strategies and high turnover, including the resignation of six independent directors, key personnel and the company's independent external auditors. The result was an approximately $139-million collapse in market capitalization as the share price fell 95 per cent from its February, 2020, high until the day of her second termination in April, 2026. While shareholder value eroded, Ms. Mascarenhas extracted over $7-million in compensation since her initial appointment as CEO, which is over five times the current market value of her entire ownership stake.

Her continuing litigation against Questor and its independent directors, seeking more than $26-million in damages, creates an irreconcilable conflict of interest. If successful in reinstating herself as CEO for a third time, shareholders should expect Ms. Mascarenhas to seek reimbursement of her fees associated with her campaign. If Ms. Mascarenhas wins, shareholders will lose.

Over the past three years, the independent directors of two separate boards have concluded that Ms. Mascarenhas's termination was necessary, following serious governance failures. The company is now moving forward with the strategic focus required to deliver results.

Restoring operational discipline and growth

The independent directors of the board and refreshed leadership team have taken significant steps to stabilize the business and position Questor for near-term growth. This includes appointing Mike Lindsay as interim president and CEO, while initiating a comprehensive search for a permanent leader. To drive near-term results, the company has also hired Craig Joyce as senior director of sales to reactivate core North American revenue streams and has engaged an independent consultant to provide a "cold eyes" technical review of Questor's integrated Organic Rankine Cycle power generation solution and assess market opportunities.

The independent directors are committed to restoring what made Questor a profitable and market-leading company capable of generating significant free cash flow. With 99.99-per-cent combustion efficiency and ISO 14034 verified technology, Questor is uniquely positioned to meet audit-grade measurement required in a tightening regulatory environment -- converting the company's technical promise into consistent results for all shareholders.

A specialized board built for Questor's next phase

Questor's independent director nominees bring the deep expertise in energy operations, technology and capital markets required for Questor's next phase:

• Paul Huizinga: a partner with Senex Advisory and a proven business leader in driving innovation and growth. He previously served as regional managing director for Accenture, CEO of FT Services and senior vice-president of operations for Worley;
• Mike Krayacich: co-founder and chief technology officer of Portage Energy, leading technical strategy for sustainable aviation fuel creation. He previously spent 20 years at Suncor in senior leadership and executive roles, including major project execution and leading large technical organizations;
• Jason Smith: an international oil and gas leader with extensive experience managing onshore and offshore businesses. He is currently a principal at 26 North Ventures LLC and was previously the chief operating officer of QuarterNorth Energy. He also serves on the board of directors of B-32 Exploration;
• Saj Shapiro: a seasoned executive with over 25 years of leadership experience in energy, engineering and international growth. He was previously managing director at BMO Capital Markets and CEO of BMO Radicle;
• Bastien Commet: a fund manager in Paris with practical experience in engineering and manufacturing process analysis. His career includes research and technical roles at Solvay Rare Earths, Safran and Airbus.

Vote today

Questor recommends that shareholders vote using only the gold proxy well in advance of the voting deadline of Friday, Sept. 4, 2026, at 1 p.m. MDT, as follows:

• For the election of Mr. Huizinga, Mr. Krayacich, Mr. Smith, Mr. Commet and Mr. Shapiro as independent directors;
• For the approval of the other management resolutions;
• Discard any proxy materials received from Ms. Mascarenhas.

Shareholders who have questions or require assistance voting should contact Questor's proxy solicitation agent, Carson Proxy Advisors, North American toll-free at 1-800-530-5189, or local and text at 416-751-2066, e-mail: info@carsonproxy.com.

About Questor Technology Inc.

Questor Technology, incorporated in Canada under the Business Companies Act (Alberta), is an environmental emissions reduction technology company founded in 1994, with global operations. The company is focused on clean air technologies that safely and cost-effectively improve air quality and support energy efficiency and greenhouse gas emission reductions. The company designs, manufactures and services high-efficiency clean combustion systems that destroy harmful pollutants, including methane, hydrogen sulphide gas, volatile organic hydrocarbons, hazardous air pollutants, and BTEX (benzene, toluene, ethylbenzene and xylene) gases within waste gas streams at efficiency of 99.99 per cent per its ISO 14034 certification.

The company also has proprietary heat to power generation technology and is currently targeting new markets, including landfill biogas, syngas, waste engine exhaust, geothermal and solar, cement plant waste heat, in addition to a wide variety of oil and gas projects. The combination of Questor's clean combustion and power generation technologies can help clients achieve net zero emission targets for minimal cost.

The company's common shares are traded on the TSX Venture Exchange under the symbol QST.

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