Mr. Brad Kitchen reports

ELEMENT ONE COMPLETES $0.15 UNIT PRIVATE PLACEMENT FINANCING

Element One Hydrogen and Critical Minerals Corp. has completed a second tranche of a non-brokered private placement for total gross proceeds of $471,000.

The company has allocated and issued its second tranche of 3.14 million units at a price of 15 cents per unit. Each unit consists of one of the company and one transferable share purchase warrant, with each unit warrant entitling the holder to acquire one additional common share at an exercise price of 20 cents for a period of 36 months from the closing date. The units have been purchased by directors and officers of the company.

All securities issued under these private placements will be subject to a hold period of four months plus a day. There were no finders' fees involved with the offerings.

The gross proceeds from both private placements will be used for continuing research, marketing, and general and administrative expenses.

Two insiders of the company subscribed in the units for aggregate gross proceeds of $240,000. The issuance of units to the insiders is considered a related-party transaction within the meaning of Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). The company relied on exemptions from the formal valuation and minority shareholder approval requirements provided under sections 5.5(a) and 5.7(a) of MI 61-101 on the basis that the insiders' participation in the private placement did not exceed 25 per cent of the fair market value of the company's market capitalization. The company will file a material change report in respect of the related-party transaction.

Option and restricted share unit grants

The company also wishes to announce that, pursuant to the company's omnibus incentive plan, it has issued 600,000 stock options to PRAI Inc., which is providing marketing services for Element One as announced on June 23, 2026. The stock options entitle the holder to acquire 200,000 common shares at an exercise price of 20 cents for 12 months from the date of issuance, 200,000 common shares at an exercise price of 40 cents for 12 months from the date of issuance and 200,000 common shares at an exercise price of 60 cents for 12 months from the date of issuance.

The company has also issued 3,406,667 restricted share units to certain officers, directors and corporate consultants of the company. Both the options and the RSUs vest immediately, and any shares issued by conversion of the options or the RSUs will have a hold period of four months plus a day.

Other corporate news

The company also wishes to announce the departure of Dr. Hosford Scheirer as senior consulting geologist to focus on other opportunities. The company would like to thank Dr. Scheirer for her assistance in developing geologic hydrogen targets in North America for the company to peruse and wishes her well in her next venture.

About Element One Hydrogen and Critical Minerals Corp.

Element One is building an integrated North American natural hydrogen and critical mineral platform focused on advancing secure, domestic energy and critical mineral supply chains. Through a growing portfolio of strategic resource assets, proprietary technologies and industry partnerships, the company is advancing the exploration, development and commercialization of natural hydrogen, magnesium and other critical minerals. Element One's projects span British Columbia, Washington State and Alaska, and are supported by collaborations with world-class research institutions, including Columbia University, and strategic partnerships with industry, indigenous communities and government. By combining resource development with innovative processing technologies, Element One is positioned to help strengthen North America's energy security and domestic critical mineral supply chains.

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