Mr. Tim Daniels reports

BORON ONE SIGNS SECOND BINDING OFFTAKE AGREEMENT FOR SALE OF BORON CONCENTRATES AND REFINED BORON PRODUCTS

Boron One Holdings Inc. has entered a binding three-year offtake agreement with a Singapore-based global distribution company for the future sale of boron mineral concentrates and derivative boron products.

The agreement represents Boron One's second binding offtake arrangement and is expected to support the company's efforts to secure strategic partners and project financing for the continued development of its operations.

Offtake commitments

Under the terms of the agreement, the buyer has committed to the following annual purchases of products:

• 50,000 tons of ulexite concentrate per year, with the option to increase purchases to 60,000 tons per year;

• Up to 20,000 tons of colemanite concentrate per year, with no minimum purchase commitment;

• 50,000 tons of boric acid per year, with the option to increase purchases to 60,000 tons per year;

• 50,000 tons of borax (five mol) per year, with the option to increase purchases to 60,000 tons per year.

Other material terms of the agreement include:

• The three-year contract term will commence upon the company's production facilities becoming fully operational;

• Product pricing will be based on prevailing market prices and adjusted annually;

• The agreement includes a minimum floor price formula;

• The agreement contains take-or-pay provisions requiring the buyer to make specified payments in respect of certain annual purchase shortfalls;

• The purchase commitment is binding on the buyer, subject to the terms and conditions of the agreement;

• Boron One retains the right, at its sole discretion, to elect not to supply some or all of the agreed quantities of boric acid and/or borax;

• The buyer has been granted a non-exclusive right to market and sell the products to customers in certain Asian countries.

Tim Daniels, president of Boron One, commented:

"We are pleased to have signed our second offtake agreement. These agreements further validate our business model, as we have now secured binding commitments for a substantial portion of our anticipated production. Demonstrating customer demand is an important milestone that supports our efforts to attract strategic partners and secure project financing."

About the buyer

The buyer is a Singapore-based global distribution company with an established history in boron product sales and customer service. The buyer has earned recognition as a leading exporter of U.S.-sourced boron products and has facilitated the sale of significant volumes of boron products into Southeast Asian markets. Its core business includes the wholesale distribution of industrial chemicals and chemical fertilizers.

Conditions precedent

The agreement remains subject to the satisfaction of certain conditions precedent, including the completion of the company's planned mining and processing facilities and the receipt of all permits, licences, and regulatory approvals necessary to commence commercial production and operations.

About Boron One Holdings Inc.

Boron One Holdings is a leading company dedicated to advancing the decarbonization of the planet through the responsible utilization of its boron assets.

We seek Safe Harbor.