Cotec notes HyProMag's recycling hub 25% complete

Mr. Julian Treger reports COTEC HOLDINGS CORP. NOTES HYPROMAG USA PROJECT UPDATE Cotec Holdings Corp. has noted today's press release by HyProMag USA LLC, its United States-based joint venture rare earth permanent magnet recycling and manufacturing company. HyProMag USA announced an update on the detailed design phase of its Dallas-Fort Worth rare earth magnet recycling and manufacturing hub. The engineering, procurement and construction management work is being led by PegasusTSI Inc. and BBA USA Inc. Highlights of the update include: Detailed design now 25 per cent complete, incorporating learnings from HyProMag's United Kingdom and German facilities; Advanced grain boundary diffusion techniques added to enhance magnet performance; Tripled throughput capacity at the University of Birmingham HPMS pilot facility, with over 50 pilot runs completed; Circa 900 kilograms of recycled NdFeB alloy powder already produced at the Tyseley energy park facility in the U.K.; Four shortlisted Dallas-Fort Worth hub site options identified, with permitting to commence in third quarter 2025; Feedstock supply collaboration advancing with Intelligent Lifecycle Solutions, which has begun stockpiling feed; Expansion planning under way for additional hubs in Nevada and South Carolina, and a concept study initiated for a complementary long loop recycling process led by Worley. Julian Treger, chief executive officer of Cotec, commented: "We are very pleased with the progress of the EPCM detailed design. The learnings from HyProMag's facilities in the U.K. and Germany continue to inform PegasusTSI's and BBA's work and support an accelerated project schedule targeting first magnets in H1 2027. In parallel with the EPCM detailed design, the company is focused on securing funding from the U.S. government, commercial lenders, equity providers and offtakers. With the commencement of the long-loop concept study, the company is in a unique position as it provides both short- and long-loop rare earth permanent magnet recycling. HyProMag USA's proposed U.S. facility fully meets the requirements of the U.S. Defence Production Act Title III, and will provide a secure, long-term, commercial-scale magnet recycling and production facilities in the United States." About Cotec Holdings Corp. Cotec Holdings is redefining the future of resource extraction and recycling. Focused on rare earth magnets and strategic materials, Cotec integrates breakthrough technologies with strategic assets to unlock secure, sustainable and low-cost supply chains for the United States and its allies. Cotec's mission is clear: accelerate the energy transition while strengthening U.S. economic and national security. By investing in and deploying disruptive technologies, the company delivers capital-efficient, scalable solutions that transform marginal assets, tailings, waste streams and recycled products into high-value critical minerals. From its HyProMag USA magnet recycling joint venture in Texas to iron tailings reprocessing in Quebec to next-generation copper and iron solutions backed by global majors, Cotec is building a diversified portfolio with long-term growth, rapid cash flow potential and high barriers to entry. The result is a game-changing platform at the intersection of technology, sustainability and strategic materials. We seek Safe Harbor.