Mr. Avshalom Vicus reports
AVSHALOM OFER VICUS FILES EARLY WARNING REPORT
FOLLOWING ESTATE PLANNING TRANSFER
Avshalom Ofer Vicus (the reporting person) has provided an update on his securityholdings with respect to Aduro Clean Technologies Inc. The reporting person transferred one million common shares of the company to a family-owned-and-controlled company pursuant to tax-driven estate freeze transaction. While the reporting person no longer exercises any voting control or dispositive authority over the transferred shares, he and members of his family retain an indirect economic interest in the shares as a result of the reporting person's long-term estate and succession planning. There is no intention for the transferred shares to be sold into the market.
The reporting person owns 24.9 per cent of the shares, calculated based on 35,871,442 shares, which consists of 35,733,749 shares outstanding as of Sept. 25, 2026, and 137,693 shares that may be acquired on exercise of stock options.
Prior to the transaction, the reporting person directly and indirectly owned and controlled an aggregate of: (i) 9,794,875 shares; and (ii) 137,693 shares that may be issued on exercise of options, of which 47,693 are exercisable at a price of $6.50 per share and 90,000 are exercisable at a price of $13.50 per share, which represent 27.69 per cent of the shares, calculated based on 35,871,442 shares, which consists of 35,733,749 shares outstanding as of Sept. 25, 2026, and 137,693 shares that may be acquired on exercise of options.
After the transaction, the reporting person directly and indirectly owns and controls an aggregate of: (i) 8,794,875 shares; and (ii) 137,693 shares that may be issued on exercise of options, of which 47,693 are exercisable at a price of $6.50 per share and 90,000 are exercisable at a price of $13.50 per share, which represent 24.9 per cent of the shares, calculated based on 35,871,442 shares, which consists of 35,733,749 shares outstanding as of Sept. 25, 2026, and 137,693 shares that may be acquired on exercise of options.
The shares were transferred for estate planning purposes. The transaction was not effected through the facilities of any stock exchange and was undertaken solely in connection with the reporting person's estate planning arrangements. The transaction does not reflect a reduction in the reporting person's support for or commitment to the company.
The reporting person has filed an early warning report pursuant to National Instrument 62-103F1, The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, describing the above securityholdings with the applicable securities regulatory authorities. A copy of the early warning report is available on SEDAR+ under the profile of the company.
© 2026 Canjex Publishing Ltd. All rights reserved.