Mr. Gary Lewis reports

AE FUELS APPOINTS JASON TONG AS CHIEF FINANCIAL OFFICER

AE Fuels Corp. has appointed Jason Tong, CPA, CA, CFA, as chief financial officer (CFO), effective Aug. 14, 2026, following the resignation of Jack Cartmel from the position.

Mr. Tong brings more than 15 years of experience working with publicly listed companies across the Toronto Stock Exchange, TSX Venture Exchange and Nasdaq exchanges, serving in senior financial leadership and advisory roles across the mining, finance and venture capital sectors. He previously served as chief financial officer of Pathway Capital Ltd., a venture capital firm managing a portfolio of early stage companies with market capitalizations ranging from approximately $5-million to $100-million. Earlier in his career, Mr. Tong worked as a senior auditor with Deloitte & Touche LLP.

Mr. Tong holds both the Chartered Professional Accountant (CPA, CA) designation and the Chartered Financial Analyst (CFA) charter.

In conjunction with Mr. Tong's appointment, Catapult Consulting Corp., of which Mr. Tong is founder and CEO, will provide accounting and financial reporting services to the company. Catapult provides CFO, accounting, financial reporting, and corporate advisory services to private and publicly traded companies.

Gary Lewis, chief executive officer of AE Fuels, commented: "Jason brings considerable public company, financial reporting and capital markets experience to AE Fuels. As our activities continue to grow, we want to ensure that our finance and accounting capabilities grow with them. Jason's experience, together with the broader resources available through Catapult, provides us with the depth and capability to support the company through its next stage of development."

The company thanks Mr. Cartmel for his service and wishes him well in his future endeavours.

This press release is approved by the board of directors of the company:

About AE Fuels Corp.

AE Fuels is a United States-aligned, critical minerals company focused on battery-grade manganese and fluorspar-hydrofluoric acid (HF) supply chains. The company's strategy connects allied-country manganese supply (Pilbara, Western Australia) and domestic United States fluorspar supply (New Mexico, U.S.) with U.S. mid-stream processing and downstream supply chains. Manganese and fluorspar are designated critical minerals in the U.S., Australia and European Union, and essential to multiple high-growth industries including battery materials, semiconductor fabrication and advanced electronics, nuclear fuel processing, and clean energy technologies. AE Fuels is advancing development activities aimed at delivering reliable, allied-sourced supply of these materials to reduce foreign dependency and strengthen U.S. industrial base resilience across these key industries.