Mr. Bernard Tourillon reports

HPQ RECEIVES FIRST PURCHASE ORDER FOR 50 KG OF FUMED SILICA FOR ADVANCED CUSTOMER TESTING

HPQ Silicon Inc.'s subsidiary, HPQ Silica Polvere Inc., has received a first purchase order for 50 kilograms of fumed silica from the strategic industrial partner previously disclosed on Feb. 12, 2026.

The material was produced by HSPI's technology supplier, PyroGenesis Inc., utilizing the fumed silica reactor pilot plant. The product is currently being prepared for delivery to the customer for advanced qualification testing.

To fulfill the order, the FSR was operated in semi-continuous mode for extended production runs beyond prior test campaigns. These longer-duration operations generated critical process and engineering data that will support scale-up modelling and commercial design for the proposed 1,000-tonne-per-year facility contemplated under the previously announced non-binding memorandum of understanding.

"This first purchase order marks an important operational milestone," said Bernard Tourillon, chairman, president and chief executive officer of HPQ Silicon and HPQ Silica Polvere. "It demonstrates that our pilot plant is transitioning from technical validation toward commercial engagement. Equally important, the extended production runs are providing the engineering data required to responsibly design and derisk the proposed commercial-scale facility."

Technical validation supports commercial progression

Progress toward final agreements under the MOU remains subject to the successful completion of third party testing and validation of fumed silica produced by the FSR pilot plant.

HSPI confirms that it has received results from production samples previously manufactured and analyzed by an independent specialty laboratory in the United States. The testing evaluated chemical composition and material characteristics relevant to the targeted commercial applications and confirmed that the material meets the fundamental specifications required to advance the project.

The combination of independent laboratory validation and the recent 50-kilogram purchase order for advanced customer testing indicates that fumed silica produced using the FSR has achieved defined chemical and compositional benchmarks necessary to support continued commercial development efforts.

Industry context

Fumed silica is a high-value industrial material used across cosmetics, pharmaceuticals, food products, paints, coatings, sealants, adhesives and construction materials. Its function as a thickening, anti-caking, rheology-modifying and reinforcing agent makes it critical to performance and product consistency in large-volume global markets.

Conventional production methods typically rely on energy-intensive processes and centralized large-scale facilities. The FSR technology seeks to provide an alternative plasma-based approach using quartz (SiO2) as feedstock, with the objective of reducing process complexity and eliminating the need for hazardous chemical intermediates.

"The ability to operate the FSR in extended semi-continuous mode while meeting core material specifications reinforces the engineering viability of this plasma-based approach," P. Peter Pascali, president and chief executive officer of PyroGenesis, commented on the development. "Our objective has always been to demonstrate that fumed silica can be produced in a more energy-efficient and modular manner. These production runs represent another step in validating that the process can support commercial deployment parameters."

Next steps toward commercialization

The formation of the joint venture contemplated under the MOU remains subject to the negotiation and execution of definitive agreements governing the rights and obligations of the parties. The parties currently anticipate completing such agreements by the end of second quarter 2026; however, there can be no assurance that a joint venture will be formed, that definitive agreements will be executed within the anticipated time frame or that any resulting joint venture will be commercially viable.

"We are advancing methodically," added Mr. Tourillon. "Independent validation, extended pilot production and customer qualification testing are all required steps before commercial commitments are finalized. Our focus remains on aligning technical performance, engineering scalability and market demand before moving to definitive agreements."

About HPQ Silicon Inc.

HPQ Silicon is a Quebec-based TSX Venture Exchange industrial issuer focused on innovation in advanced materials and critical process development. In partnership with its research and development partner Novacium -- of which HPQ is a shareholder -- the company is advancing next-generation silicon-based anode materials (Gen3) for batteries, commercializing its Endura+ lithium-ion cells, and developing breakthrough clean-hydrogen and waste-to-energy technologies, for which HPQ holds exclusive North American rights.

HPQ is also pursuing proprietary technologies to become a low-cost, zero-carbon-dioxide producer of fumed silica and high-purity silicon, with technical support from PyroGenesis. Together, these initiatives position HPQ to capture growth opportunities in the energy storage, clean hydrogen and advanced material markets essential to achieving global net-zero goals.

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