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PUREWAVE HYDROGEN CORP. PROVIDES CORPORATE UPDATE

Calgary, Alberta, October 14, 2026 - PureWave Hydrogen Corp. (the "Corporation") 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 (the "CTO") issued by the Alberta Securities Commission (the "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 August 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 November 30, 2025 (collectively, the "Required Filings"). Upon issuance, the CTO replaced and revoked the management cease trade order issued by the ASC on January 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 auditors and advisors 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 of shareholders since April 5, 2024 and, as a result, is not currently in compliance with section 4.1 of TSX Venture Exchange (the "Exchange") Policy 3.2. The Exchange placed the Corporation on Notice for 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 January 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 Nathan Chutas and Gordon Villeneuve as directors of the Corporation. In addition, Mr. 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 Bruce Nurse (as Interim CEO and director) and Cesar Herrera (as CFO and director), has been formally appointed Chief Financial Officer and Treasurer of the Corporation.

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, British Columbia. Mr. Villeneuve is a Certified Business Broker and has over twenty 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. Scott'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.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

For more information, please contact:

Scott Davis

Chief Financial Officer

Email: sdavis@crossdavis.com

Phone: (604) 558-4300

Forward Looking Statements

This news release contains forward-looking information and forward-looking statements (collectively, "forward-looking statements") within the meaning of applicable Canadian securities laws. Forward-looking statements are based on management's current expectations and are subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially. Forward-looking statements in this news release include statements regarding: (i) the anticipated timing for filing the Required Filings; (ii) the anticipated revocation of the CTO and resumption of trading in the Corporation's securities; (iii) the Corporation's plans to address its non-compliance with the Exchange's annual general meeting requirements and the anticipated timing of its next annual general meeting; and (iv) the Corporation's ability to remedy its defaults and comply with its continuous disclosure and Exchange obligations. The forward-looking statements are based on certain assumptions, including: (i) the Corporation's ability to obtain sufficient funding to pay audit fees and related professional costs; (ii) the timely completion of the audit and other Required Filings; (iii) the ASC revoking the CTO following completion of the Required Filings; (iv) the Corporation being able to schedule and hold its next annual general meeting within the anticipated timeframe; and (v) the absence of unanticipated delays or regulatory issues affecting the Corporation's remediation plans. Risks and uncertainties that could cause actual results to differ materially include: (i) delays in completing the audit and other Required Filings; (ii) the Corporation's inability to secure necessary financing or resources; (iii) delays in obtaining revocation of the CTO or resuming trading; (iv) delays in scheduling or holding the annual general meeting; (v) the possibility of additional regulatory or Exchange action; and (vi) general economic and market conditions. The Corporation undertakes no obligation to update forward-looking statements except as required by applicable securities laws. Readers are cautioned not to place undue reliance on forward-looking statements.