Mr. Paul Guedes reports

NANO ONE RECEIVES C$12.75 MILLION IN CONTRIBUTIONS FROM GOVERNMENT PROGRAMS

Nano One Materials Corp. has received $12.75-million in non-dilutive cash contributions from various government funding programs, mostly as reimbursement for recent eligible project expenditures.

Highlights:

• Adds $12.75-million working capital for LFP commercialization initiatives;
• Draws from various government awards, previously announced;
• Supports pilot, capacity expansion and demonstration scale operations, engineering feasibility, commercial production, and licensing initiatives;
• Video tour of modernized Candiac demonstration facility featuring the one-pot process.

"These funds strengthen our balance sheet," said Nano One's chief executive officer and founder, Dan Blondal, "and enable us to fully execute on our capacity expansion, production and licensing plans through 2025 and further. We are drawing down from approximately $45-million in government awards previously announced with some contributions retroactive as far back as Jan. 1, 2023. This reflects the strategic importance of our one-pot process for energy and supply chain security, adds considerable shareholder value, and supports commercialization and the fulfilment of our corporate objectives."

These programs support Nano One's engineering, capacity expansion, demonstration and commercialization at its LFP plant in Candiac, Que. The $12.75-million from governments along with previously announced sale of vacant land and sale and lease back have provided combined working capital totalling $31.25-million. The proceeds also finance continued activities on engineering feasibility for the company's design-one-build-many licensing growth strategy.

Nano One also has approximately $29-million in reimbursements remaining to claim over the coming two years from its contracted government programs and continues to collaborate with governments on new programs.

Nano One is pleased to provide a video tour highlighting advancements made with the one-pot process at its LFP demonstration plant in Candiac, Que.

About Nano One Materials Corp.

Nano One Materials is a technology company changing how the world makes cathode active materials for lithium-ion batteries. Applications include stationary energy storage systems (ESS), portable electronics and electric vehicles (EVs). The company's patented one-pot process reduces costs, is easier to permit, lowers energy intensity, environmental footprint and reliance on problematic supply chains. The company is helping to drive energy security, supply chain resilience, industrial competitiveness and increased performance through process innovation. Scalability is proven and being demonstrated at Nano One's LFP (lithium-iron-phosphate) pilot production plant in Quebec -- leveraging the only facility and expertise of its kind outside of Asia. Strategic collaborations and partnerships with international companies like Sumitomo Metal Mining, Rio Tinto and Worley are supporting a design-one-build-many licensing growth strategy -- delivering cost-competitive, easier-to-permit and faster-to-market battery materials production solutions worldwide. Nano One has received funding from the government of Canada, the government of the United States, the government of Quebec and the government of British Columbia.

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