Mr. Mohammed Jiwan reports

ZENTEK PROVIDES CORPORATE UPDATE ON NASDAQ LISTING

Zentek Ltd. has provided an update on the Nasdaq appeal process it began after the Nasdaq Stock Market LLC issued its delisting determination, as disclosed in the company's Aug. 28, 2026, news release.

After completing the appeal process, Nasdaq granted the company's request for continued listing, conditional on the company completing a share consolidation and demonstrating compliance with the $1 (U.S.) minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2), as evidenced by a closing bid price of at least $1 (U.S.) for 10 consecutive trading days by Dec. 24, 2026.

The board and management have determined not to proceed with a share consolidation at this time. Having weighed the benefits of maintaining the Nasdaq listing at this time, it concluded that Zentek's capital and management attention are best directed at the work that builds long-term value for shareholders: advancing Albany, developing routes to market and revenue, and progressing Triera. The company will reassess a senior listing as it reaches milestones that would make one more valuable to shareholders.

Accordingly, the company has notified Nasdaq that it does not intend to continue with its listing. Effective Sept. 2, 2026, the company's common shares were suspended from trading on Nasdaq and began trading on the OTCQX (symbol: ZTEKF) in the United States. The company's common shares continue to trade in Canada on the TSX Venture Exchange (symbol: ZEN).

"We believe the right decisions are those that strengthen Zentek's fundamentals and position the company for sustainable growth," said Mohammed (Moe) Jiwan, chief executive officer of Zentek. "By remaining focused on execution and disciplined capital allocation, we aim to build meaningful, lasting value for our shareholders. We will continue to evaluate opportunities to enhance our market presence as the company's business and commercial prospects evolve."

About Zentek Ltd.

Zentek is a Canadian intellectual property development and commercialization company advancing a portfolio of graphene-enabled and advanced material technologies across clean air, next-generation materials and critical minerals. Core platforms are Albany Graphite, ZenGuard and Triera. Albany is the company's principal critical-minerals asset.

We seek Safe Harbor.