Mr. Guy Bourgeois reports

PLAID TECHNOLOGIES SHIPS PROPRIETARY GRAPHENE TO PETRO FLOW AHEAD OF INITIAL U.S. WELL PLUGGING FIELD TESTS

Plaid Technologies Inc. has shipped an initial quantity of its proprietary graphene material to Petro Flow LLC in advance of the first planned field tests of graphene-enhanced wellbore cement for plugging and abandonment (P&A) applications. The initial test wells are expected to be conducted during the second quarter of 2026 in the continental United States.

The shipment represents a key early milestone in Plaid's commercialization pathway for its graphene-enhanced cement technology. Petro Flow is currently engaged in advanced discussions with multiple well plugging and abandonment service providers to support upcoming field trials and potential broader deployment.

As previously announced on Jan. 13, 2026, Plaid has been working with its contracted development partner, Petro Flow, to integrate an ultrasonic injection process intended to improve the dispersion of graphene oxide within cementitious mixtures. Internal laboratory-scale evaluations to date have indicated that improved dispersion may influence cement hydration behavior and cured material performance. Plaid continues to evaluate performance characteristics, scalability and cost implications as part of its continuing development program.

"These initial shipments mark an important transition from laboratory development to field-level evaluation," said Guy Bourgeois, chief executive officer of Plaid Technologies. "Our collaboration with Petro Flow allows us to test our graphene technology in real-world well plugging operations while continuing to validate performance, ease of use and scalability. This is a key step as we move toward commercialization and engage with service companies serving the well plugging market."

The shipment consists of graphene dispatched from Plaid's European-based stockpile of high-grade graphene. Upon delivery to Petro Flow and prior to cement mixing, the graphene will be converted into a water-dispersible graphene oxide (GO) formulation.

When incorporated at the point of placement using Plaid's proprietary layering and dispersion approach, GO-reinforced cement formulations are expected to offer several potential benefits for well plugging and abandonment applications, including:

• Faster job completion: Graphene-enhanced cement has demonstrated faster setting and earlier strength development in prior studies, with reported reductions in set time of up to approximately 25 per cent. Faster setting may allow well plugging work to be completed more quickly, helping reduce overall project time.
• Stronger, more reliable plugs: Laboratory testing indicates that graphene-reinforced cement can form a denser, stronger structure, which may improve the long-term reliability of well plugs and reduce the risk of leakage over time.
• Improved durability: Graphene-enhanced cement formulations have reported strength improvements of up to 50 per cent compared with traditional cement, which may help plugs better withstand stress, temperature changes and harsh downhole conditions.
• Better performance in high-temperature conditions: In testing, graphene-reinforced cement has shown improved stability at higher temperatures, which is particularly relevant for well plugging operations conducted deep underground.
• Potential cost savings over the life of a well: By enabling faster work, improving early strength and reducing the likelihood of rework or remediation, graphene-reinforced cement may lower total plugging and abandonment costs and reduce long-term liabilities.
• Fits existing undustry practices: Plaid's graphene technology is designed to work with standard oilfield cement systems and equipment, allowing service companies to adopt the technology without major changes to current operations.

Plaid believes the planned test wells will provide valuable data to further evaluate the performance and commercial potential of its graphene-enhanced cement solutions under real-world conditions. The company intends to provide updates as testing progresses and additional milestones are achieved.

About Plaid Technologies Inc.

The company focuses on the development and commercialization of graphene-enhanced technologies. Plaid is simultaneously pursuing a range of applications for its proprietary graphene-infused concrete mixture, with an initial focus on wellbore cement and subsurface applications. Management expects Plaid's unique mixture to pave the way for a new era in well abandonment, combining cutting-edge materials with precision engineering.

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