Mr. Don Currie reports

HILLCREST ANNOUNCES CLOSING OF NON-BROKERED PRIVATE PLACEMENT OF UNITS

Further to the news release of May 27, 2026, Hillcrest Energy Technologies Ltd. has closed its previously announced non-brokered private placement of 7,968,319 units of the company for gross proceeds of $1,195,247.85 at a price of 15 cents per unit.

Each unit consists of one common share in the capital of the company and one common share purchase warrant. As a result, the company issued a total of 7,968,319 common shares and 7,968,319 warrants pursuant to the offering.

Each warrant entitles the holder thereof to acquire one common share at an exercise price of 20 cents per common share for a period of 24 months from the date of issuance.

It is intended that the proceeds from closing of the offering will be used for retirement of existing accounts payable, payment of new advisers and consultants, and general working capital purposes.

In connection with the closing of the offering, the company paid aggregate cash finders' fees of $19,999.99 and issued an aggregate of 133,333 non-transferable finders' warrants to eligible arm's-length finders. Each finder's warrant is exercisable into one common share at a price of 20 cents per common share for a period of 24 months from the date of issuance.

The securities issued in connection with the offering, including any common shares issuable upon the exercise of the warrants and finders' warrants, are subject to a statutory four-month-and-one-day hold period in accordance with the policies of the Canadian Securities Exchange and applicable Canadian securities laws.

About Hillcrest Energy Technologies Ltd.

Hillcrest Energy Technologies is a Canadian clean technology company focused on developing and commercializing advanced power conversion technologies and digital control systems for next-generation powertrains and grid-connected energy systems. The company's proprietary zero voltage switching technology platform is being commercialized across multiple markets, including next-generation artificial intelligence data centres, microgrids and electric vehicle powertrains. From concept to commercialization, Hillcrest is investing in the development of energy solutions that will power a more sustainable and electrified future. Hillcrest is publicly traded on the CSE under the symbol HEAT, on the OTCQB Venture Market as HLRTF and on the Frankfurt exchange as 7HI.

We seek Safe Harbor.