Aduro closes underwriter's overallotment option

Executive Summary

• Aduro Clean Technologies announced the closing of its underwriter's over-allotment option for a previously announced underwritten U.S. public offering of common shares and warrants.
• The transaction generated approximately $3 million in gross proceeds through the issuance of 260,869 common shares and 130,434 accompanying warrants.
• Net proceeds will be primarily directed toward the construction of a demonstration-scale plant, with remaining funds allocated to research and development, general corporate purposes, and working capital.

Key Details

• Gross Proceeds: Approximately $3 million (U.S.)
• Shares Issued: 260,869 common shares
• Warrants Issued: 130,434 warrants to purchase common shares
• Warrant Structure: Common shares sold in combination with a half warrant (each whole warrant = 2 half warrants); each whole warrant is exercisable into one common share
• Warrant Terms: Exercise price of $16 (U.S.) per share; exercisable immediately; expires three years from issuance date
• Underwriter: D. Boral Capital LLC (lead underwriter)
• Financial Adviser: Roth Capital Partners
• Use of Proceeds: Construction of demonstration-scale plant, continuing R&D, general corporate purposes, and working capital
• Regulatory Filing: Made pursuant to an effective shelf registration statement on Form F-10 (file No. 333-292023), filed with the SEC on Dec. 15, 2025
• Offering Scope: U.S. public offering only; no securities offered or sold to Canadian purchasers
• Prospectus Documentation: Final prospectus supplement filed with the SEC and applicable Canadian securities commissions (British Columbia and Ontario)