Mr. Andrew White reports

CHAR TECHNOLOGIES ANNOUNCES C$2M PRIVATE PLACEMENT

Char Technologies Ltd. intends to complete a non-brokered private placement of up to 8,511,000 units at a price of 23.5 cents per unit for gross proceeds of up to $2,000,085.

Each unit will comprise one common share of the company and one-half of a share purchase warrant. Each whole warrant will entitle the holder to acquire one share for 24 months after the closing of the offering at a price of 35 cents.

The BMI Group, through its 50-per-cent-owned joint venture, BMI Industrial, will be subscribing for 4,255,500 units, representing 50 per cent of the offering. The BMI Group currently holds 10 million shares of the company through its wholly owned subsidiary, Bioveld Canada. Upon completion of the offering, it is anticipated that the BMI Group, across its affiliated entities, will beneficially own or control greater than 10 per cent of the issued and outstanding shares of the company, thereby becoming a new insider of the company pursuant to the policies of the TSX Venture Exchange.

The remaining units under the offering will be offered by way of private placement pursuant to applicable exemptions from the prospectus requirements in each of the provinces of Canada, and are being offered to purchasers outside of Canada pursuant to an exemption from the prospectus requirement available under Section 2.3 of Ontario Securities Commission Rule 72-503, Distributions Outside Canada, and accordingly, the securities issued pursuant to OSC 72-503 will not be subject to resale restrictions. All securities issued to purchasers in Canada pursuant to the offering will be subject to a statutory hold period of four months and one day from the date of issuance in accordance with applicable Canadian securities laws. The company confirms that the offering is not a related party transaction.

Proceeds of the offering will be used for general working capital, to support continuing project development work to continue to progress the company's project pipeline and to support emerging strategic initiatives.

The company may pay finders' fees on a portion of the offering, subject to compliance with the policies of the TSX Venture Exchange and applicable securities legislation.

The closing of the offering is expected to occur on or around Feb. 27, 2026, and is subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange and the applicable securities regulatory authorities.

About Char Technologies Ltd.

Char Technologies' first-in-kind high-temperature pyrolysis (HTP) technology processes unmerchantable wood and organic wastes to simultaneously generate two renewable energy revenue streams, renewable natural gas (RNG) or green hydrogen, and a solid biocarbon that is a carbon neutral drop-in replacement for metallurgical steel making coal.

Char's HTP is an ideal waste to energy solution that aligns with the global green energy transition by diverting waste from landfills and generating sustainable clean energy to decarbonize heavy industry.

We seek Safe Harbor.