Mr. Andrew White reports

CHAR TECH PROVIDES YEAR-END UPDATE AND LISTS ON THE FRANKFURT STOCK EXCHANGE

Char Technologies Ltd. has provided a year-end corporate update highlighting progress across its development portfolio and key priorities as the company enters 2026. In December, 2025, the company also listed on the Frankfurt Stock Exchange (ticker: 68K).

Two thousand twenty-five was a year focused on building and advancing Char's first commercial-scale projects, including:

• The Thorold renewable energy facility, which is scheduled to enter commissioning in January, 2026; this phase of the Thorold project (phase 1) will bring 5,000 tonnes per year of biocarbon production on line;
• Completion of the biosolids PFAS (perfluoroalkyl and polyfluoroalkyl substances) destruction demonstration project in Baltimore, with performance data currently being compiled and analyzed;
• Continued advancement of the Lake Nipigon project toward a targeted construction start in 2026;
• Expansion of the company's strategic partnership with The BMI Group to include initial feasibility work for the Espanola clean-energy initiative.

Frankfurt Stock Exchange listing

The listing on the Frankfurt Stock Exchange under ticker symbol 68K provides Char with access to European retail and institutional investors and is expected to improve trading visibility and accessibility for investors in key European markets as the company advances commercial discussions on the continent.

Thorold renewable energy facility -- commissioning beginning January, 2026

Phase 1 construction at Char's Thorold renewable energy facility, which enables commercial biocarbon production, has made significant progress in 2025. Major equipment has been delivered, with mechanical and electrical installation activities nearing completion. Commissioning is scheduled in January, 2026, and will proceed in a phased and controlled manner, with a focus on safety and operating stability. The company remains aligned with its planned 2026 production objectives. Additionally, the company continues to progress phase 2 (the renewable natural gas phase) of the Thorold project, with major works scheduled for 2026.

PFAS destruction demonstration project in Baltimore -- fieldwork complete, data under review

Char's biosolids PFAS destruction demonstration project in Baltimore reached a key milestone in 2025 with the completion of the six-month operational program. The company is working with project partners and third party reviewers to compile and analyze performance data generated during the demonstration. The results are expected to validate Char's high-temperature pyrolysis (HTP) technology as a key PFAS destruction technology, which will support the advancement of future full commercial-scale PFAS destruction deployments.

Lake Nipigon project -- targeting construction start in 2026

Development of the Lake Nipigon project progressed throughout 2025, including engineering, feedstock and commercial workstreams with project partners. The project is targeting a construction date in 2026, subject to completion of remaining development activities, permitting, commercial agreements and financing. In anticipation of moving the Lake Nipigon project into operations quickly, the company's project and feedstock supply partner, Lake Nipigon Forest Management Inc., has been collecting and storing biomass at the site for the project.

Strategic partnership with The BMI Group -- investments completed and collaboration expanding to Espanola

During 2025, Char further strengthened its strategic partnership with The BMI Group. BMI completed its $2-million equity investment in Char and invested approximately $8-million toward the Thorold project.

With Thorold approaching commissioning, the partners are now progressing elements of the Espanola clean-energy transition initiative associated with BMI's acquisition of the former pulp and paper mill site. Current planning work includes assessment of site infrastructure, project concepts, feasibility study and potential sequencing of development phases.

Chief executive officer comment

"As we close the year, Char Tech is completing its transition to commercial operations and entering its next phase as an operating company," said Andrew White, chief executive officer of Char. "Thorold is scheduled to enter its commissioning phase, our PFAS project is expected to deliver the data required to support commercial application, and our partnerships are translating into tangible projects. In 2026, we plan to continue to build on the significant progress and developments we've made in 2025, with projects moving to commercial production."

About Char Technologies Ltd.

Char's first-in-kind high-temperature pyrolysis (HTP) technology processes unmerchantable wood and organic wastes to simultaneously generate two renewable energy revenue streams: renewable natural gas (RNG) or green hydrogen and a solid biocarbon that is a carbon-neutral drop-in replacement for metallurgical steelmaking coal. Char's HTP is an ideal waste-to-energy solution that aligns with the global green energy transition by diverting waste from landfills and generating sustainable clean energy to decarbonize heavy industry.

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