Mr. Balraj Mann reports

FIRST HYDROGEN EXPANDS SMR DESIGN COLLABORATION WITH RENEWABLE THERMAL LABORATORY AT THE UNIVERSITY OF ALBERTA TO ADVANCE NUCLEAR SMR TECHNOLOGY

Further to First Hydrogen Corp.'s news release of June 9, 2025, First Hydrogen has added small modular nuclear reactor (SMR) design in the collaboration with Prof. Muhammad Taha Manzoor from the University of Alberta. The project will focus on fuel reactor materials, reactor design and reactor design optimization taking into consideration the growth of artificial intelligence (AI) data centres. SMRs offer some key benefits compared with traditional nuclear reactors: SMRs are compact and can be installed in remote locations, can be factory fabricated and shipped to the site, can scale incrementally with demand, are safer due to their simplified designs, can potentially use fuels other than enriched uranium, have longer periods between refuelling, and have lower upfront costs. Canada is globally recognized for its exceptional nuclear expertise, notably through its renowned Candu (Canadian deuterium-uranium) reactors, widely considered among the safest and most reliable nuclear technologies in the world.

Leveraging SMRs, First Hydrogen aims to deliver a stable, cost-effective and efficient process for producing green hydrogen, addressing the growing demand for clean energy solutions worldwide. By integrating advanced nuclear technology with green hydrogen production, the company is positioned to meet rising global demand for clean energy. The company is currently reviewing potential sites in Canada and Europe. First Hydrogen believes Canada's strong nuclear expertise and proven record position its technologies as a leading choice for SMR development.

Prime Minister Carney has endorsed SMR technology as crucial to ensuring energy independence and transforming the country into a leading energy superpower. As per the government of Canada (Jan. 8, 2025), there are currently five nuclear power plants situated in three provinces housing 22 nuclear power reactors. These power plants produce 15 per cent of Canada's electricity. Notable Canadian SMR projects include Ontario Power Generation's (OPG) Darlington SMR initiative aiming to build four reactors, New Brunswick's focus on fourth-generation SMRs, including ARC Clean Energy's development at Point Lepreau, and Saskatchewan's active exploration into SMRs for grid-scale power generation.

Goldman Sachs projects that artificial intelligence will drive a 160-per-cent increase in data centre power demand by 2030, reshaping global energy consumption. Unlike previous years when efficiency improvements offset growing workloads, artificial intelligence's heavy computational needs -- like a ChatGPT query using nearly 10 times the electricity of a Google search -- are overwhelming those gains. Currently responsible for about 1 to 2 per cent of global electricity, data centres could reach 3 to 4 per cent by decade-end, with AI accounting for 19 per cent of that demand by 2028, U.S. utilities needing $50-billion in new generation capacity, and Europe facing over $1.7-trillion in grid and renewable investments.

Dr. Manzoor commented: "We are pleased to see our collaboration with First Nuclear expanding as they broaden their small modular reactor (SMR) approach by integrating design elements and committing additional support to this challenging yet exciting endeavour. SMR design is a complex, multidisciplinary problem that requires assembling a diverse team of experts. We look forward to deepening our partnerships across Canadian academia and industry in the years ahead."

About First Nuclear Corp.

First Hydrogen is committed to developing and commercializing advanced clean energy solutions, including green hydrogen produced by state-of-the-art small modular reactors. The company aims to provide scalable, sustainable and economically viable alternatives to meet global climate goals and enhance energy security.

About First Hydrogen Corp.

First Hydrogen is a company (based in Vancouver, Montreal, Germany and London, United Kingdom) focused on zero-emission vehicles and green hydrogen production and distribution. The company has designed and built two hydrogen-fuel-cell-powered light commercial vehicles (FCEVs). The FCEVs are road legal in the United Kingdom (excluding Northern Ireland), with 6,000 kilometres of testing completed and have achieved a range of more than 630 kilometres on a single refuelling. The vehicles have successfully been trialled in real-world conditions with fleet operators in the United Kingdom.

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