Mr. Andrew White reports

CHAR TECHNOLOGIES ANNOUNCES INCREASE TO C$ 3.97M AND CLOSING OF BOOK ON PREVIOUSLY ANNOUNCED PRIVATE PLACEMENT

Char Technologies Ltd., in response to investor demand, has increased the size of the $2-million non-brokered private placement it announced on Feb. 23, 2026.

The company has upsized the offering for an additional 8,371,978 units at the offering price of 23.5 cents per unit for additional gross proceeds of $1,967,500. The offering will now amount to up to 16,882,978 units at a price of 23.5 cents per unit for aggregate gross proceeds of approximately $3.97-million. The other terms of the offering will remain unchanged.

The offering has been fully subscribed with institutional investor representation, existing long-term shareholders and a follow-on investment from current strategic investor BMI Group. The closing is expected to occur by or around the end of the week of March 9, 2026, or a later date that may be determined by the company or approving entities. The offering is subject to certain closing conditions, including, but not limited to, the receipt of all necessary approvals, including the conditional acceptance by the TSX Venture Exchange.

Each unit consists of one common share of the company and one-half of a non-transferable common share purchase warrant. Each whole warrant will be exercisable to acquire one common share of the company at an exercise price of 35 cents for a period of 24 months from the closing date of the offering. 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.

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 capital advisory and investor relations services.

The units under the offering are being 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. The offering is not a related party transaction as defined by Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions, and therefore is not subject to TSX-V Policy 5.9.

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 steelmaking coal.

Char Technologies' 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.