Mr. Gervais Jacques reports

5N PLUS INC. SCALES UP AND EXPANDS CRITICAL MATERIALS SUPPLY AGREEMENT WITH FIRST SOLAR

5N Plus Inc. has entered into a new and expanded supply agreement with First Solar Inc. including revised terms to the contract period under way (2025 to 2026) to reflect increased semiconductor compound volume commitments, as well the terms for the subsequent contract period (2027 to 2028), also reflecting increased volumes.

Under the new contract terms, 5N Plus will increase its production and delivery of cadmium telluride (CdTe) by 33 per cent for the 2025 to 2026 period compared with initial levels, and by an additional 25 per cent for the subsequent term/2027 to 2028 period. These specialty semiconductors materials are used by First Solar for the manufacture of thin-film photovoltaic (PV) solar modules integrated to its semiconductor stack. In addition, starting in 2026, 5N Plus will begin to produce and deliver cadmium selenide (CdSe) to First Solar, another critical material utilized in their PV solar panel manufacturing.

This historic new agreement reflects the strength of 5N Plus's long-standing collaboration with First Solar and supports their growing semiconductor supply needs as they scale their U.S. manufacturing capacity with a strategic focus on using critical materials sourced from American sources or allied nations. As the leading American solar power generation technology manufacturer, First Solar is well positioned to support economic growth, digital infrastructure expansion and accelerating electrification in the United States, with advanced American-made technology. The company has four operating factories in Ohio and Alabama, and a fifth expected to begin commercial production in the second half of 2025. As First Solar ramps up its domestic production, it expects to achieve 14 gigawatts (GW) of American manufacturing capacity in 2026.

"We are proud to help enable the growth in U.S. power generation by expanding our partnership with America's largest solar technology manufacturer," said Gervais Jacques, president and chief executive officer of 5N Plus. "At a time when the security of critical materials supply chains are under intense scrutiny, we're pleased to reinforce our position as a trusted partner, with the expertise, supply chain and capacity to deliver the advanced materials this critical and growing sector depends on.

"Our ability to meet this significant increase in volume with minimal additional investment is a direct result of our manufacturing flexibility and the recent expansion of our semiconductor compound production and recycling capabilities in Canada and Germany," added Mr. Jacques.

"Access to secure critical materials supply chains supports our growth strategy, making 5N Plus a valued long-time partner," said Mike Koralewski, chief supply chain officer, First Solar. "They have consistently demonstrated the ability to scale production capacity while maintaining the highest quality standards. Crucially, they continue to support our efforts to onshore production of critical minerals."

About 5N Plus Inc.

5N Plus is a leading global producer of specialty semiconductors and performance materials. The company's ultrapure materials often form the core element of its customers' products. These customers rely on 5N Plus's products to enable performance and sustainability in their own products. 5N Plus deploys a range of proprietary and proven technologies to develop and manufacture its products. The company's products enable various applications in several key industries, including renewable energy, security, space, pharmaceutical, medical imaging and industrial. Headquartered in Montreal, Que., 5N Plus operates R&D (research and development), manufacturing and commercial centres in strategically located facilities around the world including Europe, North America and Asia.

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