Mr. Braam Jonker reports

COTEC ANNOUNCES ANNUAL STOCK OPTION, RESTRICTED SHARE UNIT AND DEFERRED SHARE UNIT GRANTS

Cotec Holdings Corp. has granted incentive stock options, restricted share units and deferred share units pursuant to the company's long-term incentive plan, with an effective grant date of April 30, 2026, based on the closing price of the company's common shares on the TSX Venture Exchange on that date of $1.34.

Stock options

A total of 598,274 incentive stock options have been granted to employees of the company. The options are exercisable for a period of 10 years at a price of $1.34 per common share, with one-third of the options vesting every 12 months over a three-year period.

Restricted share units

A total of 1,364,482 restricted share units have been issued, comprising 1,329,557 RSUs to officers of the company and 34,925 RSUs to a consultant of the company, pursuant to the company's LTIP. The RSUs vest over a three-year period as to one-third per annum, with the first vesting 12 months after issuance.

Deferred share units

A total of 213,919 deferred share units have been issued to members of the board of directors as compensation in lieu of director fees. The DSUs vest 12 months following the date of issuance.

About Cotec Holdings Corp.

Cotec is redefining the future of resource extraction and recycling. Focused on rare earth magnets and strategic materials, Cotec integrates breakthrough technologies with strategic assets to unlock secure, sustainable and low-cost supply chains.

Cotec's mission is clear: accelerate the energy transition while strengthening U.S. economic and national security. By investing in and deploying disruptive technologies, the company delivers capital-efficient, scalable solutions that transform marginal assets, tailings, waste streams and recycled products into high-value critical minerals.

From its HyProMag USA magnet recycling joint venture in Texas, to iron tailings reprocessing in Quebec, to next-generation copper and iron solutions backed by global majors, Cotec is building a diversified portfolio with long-term growth, rapid cash flow potential and high barriers to entry. The result is a differentiated platform at the intersection of technology, sustainability and strategic materials.

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