Mr. Scott Davis reports

PUREWAVE HYDROGEN CORP. PROVIDES CORPORATE UPDATE

Purewave Hydrogen Corp. is providing an update regarding the suspension of trading in its securities, its annual general meeting requirements, and changes to its board of directors and management.

Trading suspension and cease trade order

Trading in the corporation's securities is currently suspended in connection with a cease trade order (CTO) issued by the Alberta Securities Commission (ASC) on March 2, 2026. The CTO directs that trading and purchasing cease in respect of all securities of the corporation and relates to the outstanding filing of: (i) the corporation's audited annual financial statements, annual management's discussion and analysis, and certifications of annual filings, for the year ended Aug. 31, 2025; and (ii) its interim unaudited financial reports, interim management's discussion and analysis, and certifications of interim filings, for the interim period ended Nov. 30, 2025. Upon issuance, the CTO replaced and revoked the management cease trade order issued by the ASC on Jan. 2, 2026, in respect of Bruce Nurse and Cesar Herrera. The CTO will remain in effect until revoked by the ASC and, pursuant to applicable reciprocal order provisions, has effect in other jurisdictions of Canada. The corporation is actively working with its auditor and advisers to finalize the required filings, and, once they have been filed, intends to promptly apply to the ASC for revocation of the CTO.

Annual general meeting

The corporation has not held an annual general meeting (AGM) of shareholders since April 5, 2024, and, as a result, is not currently in compliance with Section 4.1 of TSX Venture Exchange Policy 3.2. The exchange placed the corporation on notice for an AGM on July 16, 2026. The corporation is taking steps to address this matter and currently expects to hold its next annual general meeting on or before Jan. 20, 2027. Further details regarding the meeting date and related shareholder materials will be provided as soon as they are available.

Board and management changes

The corporation also announces the appointment of Dr. Nathan Chutas and Gordon Villeneuve as directors of the corporation. In addition, Dr. Chutas has been appointed chief executive officer of the corporation, and Scott Davis, who was appointed as a director of the corporation on June 1, 2026, following the resignations of Mr. Nurse (as interim CEO and director) and Mr. Herrera (as CFO and director), has been formally appointed chief financial officer and treasurer of the corporation.

Dr. Nathan Chutas

Dr. Chutas is a professional geologist with over 20 years of experience with a variety of exploration and mining companies, including Teck Cominco, NovaGold Resources, Sandfire Resources America, Era Resources and Freeport Resources. He has served in a spectrum of roles, including senior positions in management and technical roles. His experience in management includes successfully tracking and managing budgets for exploration and development programs and projects while working closely with the finance teams. Dr. Chutas holds a PhD in geological sciences from the University of Washington and is a certified professional geologist with the American Institute of Professional Geologists.

Gordon Villeneuve

Mr. Villeneuve is the owner and operator of Apex Business Brokers, a full-service business brokerage firm operating in Vancouver, B.C. Mr. Villeneuve is a certified business broker and has over 20 years of experience with business ownership and management in both large and small organizations.

Scott Davis

Mr. Davis is a partner of Cross Davis & Company LLP, chartered professional accountants, a firm focused on providing accounting and management services for publicly listed companies. Mr. Davis has over 23 years of experience working with junior exploration public companies and has held several CFO positions with companies listed on Canadian exchanges, including serving as the chief financial officer of Encore Energy Corp. from 2015 to 2019. Mr. Davis's past experience consists of senior management positions, including assistant financial controller with Appleby, auditor with Davidson & Company LLP, chartered professional accountants, auditing junior exploration companies, and accounting manager with Pacific Opportunity Capital Ltd.

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