Mr. Dan Sutton reports

SYNTHOLENE ENERGY CORP. APPOINTS HY LEE TO ADVISORY BOARD AND GRANT TANAKA AS CORPORATE SECRETARY

Syntholene Energy Corp. has appointed H.Y. Lee to the company's advisory board. Mr. Lee is a senior infrastructure and energy executive with extensive experience in large-scale industrial project delivery, strategic partnerships and complex energy infrastructure execution. Over the course of his career, Mr. Lee has developed deep relationships within the engineering, energy and sovereign investment ecosystems, including strategic engagement with organizations connected to Hyundai Engineering & Construction, and Asian and Middle Eastern sovereign wealth funds.

"I am pleased to join Syntholene's advisory board at an important stage in the company's development," commented Mr. Lee. "I hope to help accelerate the commercialization of Syntholene's synthetic aviation fuel and contribute to securing a broad customer base."

During his former role at Korea Electric Power Corp. (KEPCO), Mr. Lee served as the lead executive and contract manager on the $24.4-billion Barakah nuclear energy plant project, located in the United Arab Emirates.

The Barakah project, which consists of four APR-1400 nuclear reactors representing approximately 5.6 gigawatts of generating capacity, was developed by a Korean-led consortium, including KEPCO, Korea Hydro & Nuclear Power (KHNP), and Hyundai Engineering & Construction. Mr. Lee was responsible for overseeing the construction of the reactor units from 2010 onward. The Barakah project has been widely recognized for its schedule discipline, construction execution and project management performance relative to global nuclear industry benchmarks.

"H.Y. brings firsthand experience from one of the most operationally disciplined large-scale energy infrastructure programs constructed this century," stated Dan Sutton, chief executive officer of Syntholene. "His background in complex project execution, multinational stakeholder coordination and strategic industrial partnerships strengthens Syntholene's capabilities as the company advances its geothermal-integrated synthetic fuel infrastructure strategy."

Appointment of Grant Tanaka as interim corporate secretary

The company also announced that it has appointed Mr. Tanaka, the company's chief financial officer, as interim corporate secretary effective May 8, 2026. Mr. Tanaka has served as the company's CFO since May, 2021, and has experience at both the corporate and operational levels having worked throughout North America, Mexico, Africa and the Middle East. Jen Hanson, the former corporate secretary of the company, resigned to pursue other business interests.

Further details regarding the Robert Rapier report

The company also announced additional details regarding Mr. Rapier's independent technical and economic assessment of the company's thermally integrated electrolysis platform dated May, 2026. The report was published and previously announced on May 7, 2026. Mr. Rapier is a chemical engineer with degrees in chemistry, mathematics and chemical engineering. He has publicly and rigorously assessed biofuel companies, and is recognized as a leading expert in the synthetic fuel sector. Mr. Rapier's assessment of the company and its thermally integrated electrolysis platform took place over three months, and involved, among other things, a technical analysis of the company's platform, an assessment of the hydrogen and synthetic fuel market, a risk assessment, and potential risk mitigation strategies. In consideration for his work, the company paid Mr. Rapier a fixed fee of $6,000 (U.S.). Such fee was not success or contingency based, and Mr. Rapier acts at arm's length to the company. A summary of the report is available on-line.

About Syntholene Energy Corp.

Syntholene is actively commercializing its novel hybrid thermal production system for low-cost clean fuel synthesis. The target output is ultrapure synthetic jet fuel, which the company seeks to manufacture at 70 per cent lower cost than the nearest competing technology today. The company's mission is to deliver the world's first truly high performance, low-cost and carbon-neutral synthetic fuel at an industrial scale, unlocking the potential to produce clean synthetic fuel at lower cost than fossil fuels, for the first time. Syntholene has begun construction of the world's first geothermally integrated high-temperature electrolysis demonstration facility in Husavik, Iceland.

Founded by experienced operators across advanced energy infrastructure, nuclear technology, low-emissions steel refining, process engineering and capital markets, Syntholene aims to be the first team to deliver a scalable modular production platform for cost-competitive synthetic fuel, thus accelerating the commercialization of carbon-neutral e-fuels across global markets.

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