Mr. Mike Lindsay reports

QUESTOR TECHNOLOGY REPORTS PROGRESS ON EXECUTION OF PHASE III SHAREHOLDER VALUE CREATION PLAN

Questor Technology Inc. has made significant progress in the continued execution of its phase III shareholder value creation plan, announced on Aug. 17, 2026, as part of the company's strategy refresh in connection with the management team transition initiated in Q2 (second quarter) 2026. The company's rental fleet is ready for deployment, commercial activity is advancing across North America, Africa and the Middle East, and a strategic partnership in Mexico is opening the path to a Pemex enterprise-wide contract.

Fleet strategically positioned for deployment

Questor owns 109 clean combustion units -- 94 in the United States, nine in Canada and six in Mexico. Following a unit-by-unit review, 50 Q5000 units are designated for rental service, and 11 are being prepared to standard international specifications to ensure international orders can be delivered on time and on budget.

The fleet sits where the customers are. The fleet configuration enables Questor to fulfill rental contracts in Mexico, Canada and the United States without moving equipment across the Canada-United States border, while units designated for international sale are shipped from North Dakota and Alberta. The company does not expect tariffs between Canada and the United States to materially impact its rental business.

Commercial activity accelerating

Near-term opportunities include:

• In Nigeria, discussions are advancing for additional Q5000 units following the successful commissioning of a unit in Q2 2026, with regulatory certification anticipated soon.
• In East Africa, Questor has submitted a firm proposal for a Q5000 unit; a letter of award is under discussion with an established international oil field services client.
• In Western Canada, a firm proposal has been submitted for the sale of a Q5000 unit to an industrial customer for late 2026 delivery. Additionally, a short-term Q500 rental with an option to purchase has been signed in Alberta.

Except for the signed rental in Alberta, these opportunities are not binding. Consistent with the company's phase III plan, revenue targets are not contingent on any single opportunity.

Longer-term, the company is also actively pursuing:

• A proposal for a 90-foot Q5000 unit for the second phase of a Western Canadian mid-stream gas processing project, with a decision expected in Q4 (fourth quarter) 2026;
• Proposals for three Q5000 units across two projects in Africa with an existing customer, with front-end engineering expected in the first quarter of 2027;
• Participation in prefront-end engineering and design for a heat recovery project in Iraq;
• A two-unit proposal in Kurdistan, subject to customer capital allocation and regional conditions.

Regulatory approval in Nigeria for the expanded use of Questor solutions is anticipated before year-end, which would position Questor for additional orders in the region in 2027 and beyond.

Mexico: consortium with JHJ Servicios and strategic adviser appointment

Six units are in Mexico, positioned for deployment pending service orders through third parties, which are being expedited. While, to date, revenue generation in Mexico has been slower than anticipated, two developments -- the consortium with JHJ Servicios and the appointment of Rogelio Garcia as strategic adviser -- are advancing the company toward contracted revenue in Mexico.

Development 1: consortium with JHJ Servicios

Questor and its in-country partner, JHJ Servicios, have entered into a non-binding letter of intent to form an unincorporated consortium. The consortium will pursue an enterprise-wide, multiple-use contract with Pemex to support its flare elimination program. This structure would enable site-specific service orders across Pemex's exploration and production business units.

The partnership combines Questor's emissions-reduction technology and in-country equipment with JHJ Servicios's in-country commercial access, regulatory familiarity, direct Pemex operational experience, vendor standing and stakeholder relationships.

The next step is a consortium agreement, which would qualify the partnership for contract awards across Pemex's business units and provide a scalable, recurring-revenue model in one of the Western Hemisphere's largest flaring markets, and a template for other Latin American markets. Mexico's announced plan to develop unconventional natural gas resources from 2027 would, if implemented, further expand the addressable market.

Development 2: strategic adviser appointment

Questor has appointed Mr. Garcia as strategic adviser, Mexico. Mr. Garcia will provide commercial guidance and in-country support as Questor advances the consortium negotiations, structures its Mexico operations, and navigates the financial and regulatory aspects of contracting with Pemex. Mr. Garcia previously served in a senior finance role at Alfa Corporativo, one of Mexico's largest industrial conglomerates.

"Questor's high-efficiency incinerator technology is well aligned with Pemex's 2025-2035 strategic plan," said Mr. Garcia. "The opportunity is real and the timing is right. I look forward to helping Questor build a sustainable, long-term business in Mexico."

United States: Colorado, North Dakota and Emission Rx Ltd.

Questor has completed a field assessment of the Colorado DJ basin, centred on Weld county, where multiwell pads and continuous drilling and completion programs drive demand for high-capacity combustion equipment. Near-term pursuits include a defined multiwell pad in Q4 2026 and a winter rental program. Questor's trailer-mounted units are deployed without a crane, cutting time on and off site compared with crane-dependent equipment. The existing Q5000 units owned by operators in the basin present refurbishment and service opportunities.

The basin has three segments: high-volume drilling and completions (primary Q-Series offering); plugging, abandonment and emissions-reduction work; and low-pressure tank vapour at permanent facilities. The second and third segments favour low-cost, portable equipment on utilization-based models -- segments served by Emission Rx. Subject to finalizing and closing of the proposed acquisition subject to the non-binding letter of intent announced on Aug. 20, 2026 (targeted on or before Oct. 1, 2026), Emission Rx's installed base of more than 800 units, five product lines and field service capabilities would enable Questor to provide a comprehensive offering across all three segments in Colorado and in North Dakota, where the company has its largest concentration of units. As previously disclosed, the Emission Rx letter of intent terminates automatically if a majority of the current directors are not re-elected at the Sept. 9, 2026, annual general meeting of the company.

"Fifty units are designated for rental and eleven are being prepared for international sale, so we deliver on time and on budget when orders arrive," said Mike Lindsay, interim president and chief executive officer of Questor. "The fleet is already where the demand is. In Mexico, the proposed consortium with JHJ Servicios puts units we already own on the path to a Pemex enterprise-wide contract. With Emission Rx, we would cover every segment of the combustion market in Colorado and North Dakota, not only the high-capacity end."

Update on elevated legal and professional fees

Legal and other professional fees related to the management team transition and elated strategy refresh, defence of the legal proceedings initiated by the former president and chief executive officer against the company, its independent directors and chief financial officer, and in respect of the contested election of directors at the upcoming annual general meeting, remain elevated in Q3 (third quarter) to date and are expected to remain so through the annual general meeting.

About Questor Technology Inc.

Questor Technology, incorporated in Canada under the Business Corporations Act (Alberta), is an environmental emissions reduction technology company founded in 1994, with global operations. The company is focused on clean air technologies that safely and cost-effectively improve air quality, and support energy efficiency and greenhouse gas emission reductions. The company designs, manufactures and services high-efficiency clean combustion systems that destroy harmful pollutants, including methane, hydrogen sulphide gas, volatile organic hydrocarbons, hazardous air pollutants and BTEX (benzene, toluene, ethylbenzene and xylene) gases within waste gas streams at efficiency of 99.99 per cent per its ISO 14034 certification.

The company also has proprietary heat to power generation technology and is currently targeting new markets, including landfill biogas, syngas, waste engine exhaust, geothermal and solar, cement plant waste heat, in addition to a wide variety of oil and gas projects. The combination of Questor's clean combustion and power generation technologies can help clients achieve net zero emission targets for minimal cost.

The company's common shares are traded on the TSX Venture Exchange under the symbol QST.

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