Mr. Chad Levesque reports

MAX POWER ENGAGES GLOBAL TECHNOLOGY LEADER KYNDRYL TO BUILD COMMERCIALIZATION STRATEGY FOR MAXX LEMI

Max Power Mining Corp. has engaged Kyndryl, a leading provider of mission-critical enterprise technology services, to deliver a comprehensive commercialization strategy and go-to-market plan for Maxx Lemi, the company's proprietary artificial-intelligence-assisted large Earth model integration platform for natural hydrogen exploration.

Under the terms of the engagement, Kyndryl Consult will provide consulting and advisory services to evaluate market opportunities and develop actionable recommendations for the potential commercialization of Maxx Lemi. The work comprises a detailed technology review, a market and competitive analysis, and business model design, culminating in a set of strategic recommendations to guide the company's potential commercialization pathways. Drawing on Kyndryl's expertise in data, AI and emerging agentic AI capabilities, the engagement will also help assess opportunities to position and scale Maxx Lemi for future growth and market adoption. This engagement has just commenced and is expected to run approximately nine weeks.

In April, 2026, Maxx Lemi -- still in development stage -- was named runner-up in the Digital Innovator category at the Canadian Hydrogen Convention in Edmonton.

Highlights

• Global technology partner: Kyndryl is recognized as a leading provider of mission-critical enterprise technology services, serving thousands of customers in more than 60 countries.
• Unparalleled proprietary dataset: Maxx Lemi incorporates proprietary data generated through Max Power's natural hydrogen exploration programs, including its ongoing commercial validation program at the Lawson Discovery, together with extensive geological, geophysical and other subsurface data sets relevant to natural hydrogen exploration.
• Defined scope: Kyndryl's support will cover product and technology discovery, market sizing, and competitive analysis across natural hydrogen and selected adjacent applications, and the evaluation of potential business models and go-to-market approaches for Maxx Lemi.
• Dual advantage: Maxx Lemi was designed to identify and rank targets and accelerate discovery across the company's 2.5 million acres (approximately one million hectares) of permits in Saskatchewan while also capturing monetization opportunities with companies focused on natural hydrogen exploration and discovery around the world. The broader value of unique subsurface data to various industries has also become apparent to Max Power management following the launch of Maxx Lemi.
• A new category of asset: In an era in which proprietary data is of growing importance, Maxx Lemi further strengthens Max Power as a global leader in the emerging natural hydrogen sector.

Management commentary

Ran Narayanasamy, Max Power chief executive officer, commented: "Maxx Lemi was born out of necessity. We needed a highly efficient way to find natural hydrogen deposits across an enormous land position, so we built one and it has been earning its keep on our own ground ever since. What has changed is the quality of the proprietary exploration information now available to Max Power. We hold proprietary drilling, core and seismic data from Canada's first confirmed natural hydrogen system, layered onto one of the richest legacy subsurface archives in the world. Engaging Kyndryl is the logical next step: bringing in a global technology leader to determine, independently and rigorously, how best to bring this platform to market."

Mr. Narayanasamy continued: "We are pursuing the world's first large-scale commercial discovery of natural hydrogen, and we intend to be every bit as serious about the technology that supports it. There are very few junior companies applying artificial intelligence in this way, in an industry this new. Maxx Lemi is designed to ramp up discoveries in Saskatchewan and to be of real value to others working on natural hydrogen and on the broader question of what unique subsurface data is worth."

Steve Halabura, PGeo, Max Power chief geoscientist, added: "The data we have acquired from these wells, in addition to all the legacy data the Saskatchewan Geological Survey has accumulated over decades, is of immense value when one considers how it can be integrated and applied not just at the regional level but globally through artificial intelligence. Maxx Lemi has the potential to drive natural hydrogen exploration on a global scale and dramatically shorten timelines to discovery and commercialization."

Scope of the engagement

Under the engagement, Max Power and Kyndryl intend to evaluate:

• The Maxx Lemi technology and its applications, through a structured technology discovery covering intended use cases, current capabilities, data workflows and product road map;
• Market opportunities and the competitive landscape across the natural hydrogen, helium, geothermal and carbon capture sectors, and the broader subsurface AI and exploration technology market;
• Business models and go-to-market approaches through which Maxx Lemi could be commercialized, assessed against defined commercial and strategic criteria.

Any commercialization pathway arising from this work would be subject to further technical validation, internal review, regulatory considerations, financing and future definitive agreements.

Saskatchewan's new data centre power framework

The timing of Max Power's natural hydrogen and Maxx Lemi strategy is increasingly relevant following the government of Saskatchewan's new data centre framework, which requires new data centre proponents to supply their own power rather than place additional demand on the provincial electricity system. The province currently has more than 30 data centre applications under review, while Bell Canada has just announced a massive expansion of its previously announced 300-megawatt project already under construction near Regina. Max Power believes this emerging requirement for dedicated power generation could create a significant opportunity for natural hydrogen and modular generation, where electricity could potentially be produced at or near the energy source to support AI and high performance computing infrastructure while reducing pressure on the existing grid.

About Maxx Lemi

The latest version of Maxx Lemi incorporates machine-learning capabilities designed to assist in the analysis and interpretation of large subsurface data sets and support natural hydrogen exploration targeting. Max Power continues to develop and evaluate the platform for use across its Saskatchewan land position and its potential application to natural hydrogen exploration in other jurisdictions.

Development is overseen by Max Power chief geoscientist Steve Halabura, PGeo, supported by the company's technical team and its various collaborations.

Why the timing matters

Natural hydrogen is an emerging new primary energy source, and quickly identifying high-quality targets and knowing where to drill is the key to unlocking its potential. A model trained on Canada's first confirmed subsurface natural hydrogen system, in a jurisdiction with an extensive subsurface archive, is ideally positioned to fully optimize the exploration process.

At the same time, the value of proprietary subsurface data is being rerated across the energy and technology sectors, and global technology companies are moving to secure power for AI infrastructure. Saskatchewan sits at the intersection of both trends: the Regina-Moose Jaw industrial corridor adjoins the Genesis trend where heavy industry is a source of potential natural hydrogen demand. This is also where Bell Canada is undertaking a massive expansion of its AI infrastructure, adding up to 900 megawatts of new capacity to create a 1.2-gigawatt AI infrastructure hub in Saskatchewan.

Max Power believes the combination of a new primary energy source and the data intelligence used to find it may provide the foundation for a strategic position that few companies of any size are able to hold.

Why this matters to investors

The barrier to a new energy industry is rarely appetite. It is knowing where to drill.

Max Power has spent the past year building two things at once: Canada's first confirmed subsurface natural hydrogen system, and the proprietary data set and AI platform used to find it. Until now, Maxx Lemi has been valued by the market, if at all, as an internal exploration tool. This engagement reflects management's view that Maxx Lemi is a unique asset with multiple potential avenues for commercialization that warrant independent evaluation.

Kyndryl brings the discipline of a global technology consultancy to that question, sizing the addressable market, mapping the competitive landscape and evaluating business models against defined criteria rather than assuming an outcome. For shareholders the significance is twofold: Max Power is treating its data and technology as a distinct asset alongside its ground, and it is testing that thesis with independent, professional analysis before committing capital or strategy to a path.

This engagement is an evaluation rather than a transaction, and no commercialization outcome is assured. But in an industry where the central constraint is targeting, a platform trained on a real discovery in one of the world's deepest subsurface archives is a scarce asset. If successfully advanced, Maxx Lemi could become a second source of value for Max Power alongside the Lawson complex, the broader Genesis trend, and its other Saskatchewan land packages, and a contributor to the pace at which natural hydrogen is discovered worldwide.

Amended marketing agreement

Max Power has amended its investor marketing and consulting agreement with RazorPitch Inc., previously announced in the company's news release dated Sept. 15, 2026, to expand the scope of services and increase the compensation payable thereunder.

Under the amendment, RazorPitch will provide additional investor awareness marketing services, including digital, social, influencer and broker marketing, together with news amplification services, in addition to the services previously disclosed under the agreement.

In consideration for the additional services, the company will pay RazorPitch an additional cash fee of $50,000 (U.S.), bringing total cash consideration payable to RazorPitch under the agreement, as amended, to $150,000 (U.S.). No securities of the company are issuable to RazorPitch as compensation under the agreement, as amended.

All other terms of the agreement remain unchanged. To the knowledge of the company, RazorPitch and its principals remain at arm's length to the company and do not hold any securities of the company. RazorPitch is responsible for ensuring that its promotional activities comply with applicable securities laws and Canadian Securities Exchange policies.

About Max Power Mining Corp.

Max Power is an innovative mineral and energy exploration company focused on the shift to decarbonization. The company's Lawson Discovery near Central Butte, Sask., represents Canada's first-ever subsurface natural hydrogen system confirmed through deep drilling with data validated by three independent labs. Max Power has built dominant district-scale land positions across Saskatchewan with approximately 2.5 million acres (approximately one million hectares) of permits covering prime exploration ground prospective for large-volume accumulations of natural hydrogen, and has commenced a multiwell follow-up drill program to validate the commerciality of the broader Lawson complex interpreted to cover a 28-square-kilometre area along the 475 km Genesis trend. Max Power also holds a significant equity position in Homeland Critical Minerals, which now owns the Willcox project in Arizona, a lithium discovery confirmed in early 2024 by Max Power. Max Power is committed to responsible exploration and development practices that prioritize environmental stewardship, meaningful community engagement and strong corporate governance.

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