Mr. Don Currie reports

HILLCREST CLOSES DEBT SETTLEMENT

Further to the news release dated July 21, 2026, Hillcrest Energy Technologies Ltd. has closed a debt settlement with certain arm's-length creditors. Pursuant to the debt settlement, the company issued an aggregate of 783,870 units of the company at a deemed price of 18 cents per unit in full satisfaction of an aggregate amount of $141,096.64 owing to such certain arm's-length creditors.

Each unit consists of one common share in the capital of the company and one share purchase warrant. Each warrant entitles the holder to purchase an additional share at a price of 20 cents per warrant share for a period of 24 months following the date of issuance of the warrant.

All securities issued in connection with the debt settlement are subject to a statutory hold period of four months and one day following the date of issuance in accordance with applicable Canadian securities laws.

About Hillcrest Energy Technologies Ltd.

Hillcrest Energy Technologies is an energy technology company focused on providing advanced power conversion technologies and digital control systems for next-generation powertrains and grid-connected renewable energy systems. From concept to commercialization, Hillcrest is investing in the development of energy solutions that will power a more sustainable and electrified future. Hillcrest is publicly traded on the Canadian Securities Exchange under the symbol HEAT, on the OTCQB Venture Market as HLRTF and on the Frankfurt exchange as 7HI.

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