Mr. Ryan Shacklock reports

ZENTEK ANNOUNCES SALE OF CORPORATE COURT OFFICE

As part of a strategic review of Zentek Ltd.'s portfolio and assets to support long-term business goals, it has entered into an agreement of purchase and sale (the APS) dated April 15, 2025, for the sale of its property located at 24 Corporate Court, Guelph, Ont., N1G 5G5, which houses Zentek's corporate office and laboratory space.

Under the terms of the APS, the buyer will pay the company an aggregate purchase price of $2.5-million. The company will lease back the property from the buyer until Jan. 31, 2026, allowing for a transition period and uninterrupted operations. The company does not anticipate any disruption to its day-to-day operations or staff as a result of the sale. Relocation planning beyond the leaseback period is currently unde rway and will be communicated at a later date.

Completion of the sale of the property is expected to occur on or around May 15, 2025.

About Zentek Ltd.

Zentek is an ISO 13485:2016-certified intellectual property technology company focused on the research, development and commercialization of novel products seeking to give the company's commercial partners a competitive advantage by making their products better, safer and greener.

Zentek's patented technology platform, ZenGuard, is shown to significantly increase the bacterial and viral filtration efficiency for surgical masks and aims to do the same for HVAC (heating, ventilation and air conditioning) systems. Zentek's ZenGuard production facility is in Guelph, Ont.

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