HPQ Silicon completes ownership increase in Novacium

Mr. Bernard Tourillon reports HPQ SILICON FINALIZES INCREASED OWNERSHIP IN NOVACIUM SAS The TSX Venture Exchange issued a bulletin on Feb. 24, 2026, confirming its acceptance of the transaction previously announced on Feb. 3, 2026, between HPQ Silicon Inc. and three arm's-length parties. Following the exchange's approval and in accordance with the terms of the agreement, HPQ has completed the increase in its ownership stake in Novacium SAS, an innovative France-based technology company, raising its interest from 28.4 per cent to 36.8 per cent. "This increased ownership strengthens our strategic exposure to Novacium's operations and its technological and commercial growth potential in both the near and medium term," said Bernard Tourillon, president and chief executive officer of HPQ Silicon. Strategic and operational alignment between HPQ and Novacium HPQ also informs shareholders that governance adjustments aimed at simplifying Novacium's governance structure have been approved by Novacium's shareholders. These changes are intended to better align the strategic interests of HPQ and Novacium as both companies advance the development and commercialization of their technologies in the near term and medium term. Novacium's activities are focused on energy-related technologies, including: High-performance silicon-based battery anodes; Hydrogen generation technologies. Because these sectors are considered strategic industries in France, the presence of the Category P priority share -- originally created at the start of the collaboration to provide HPQ with a right of veto on certain actions within Novacium -- could potentially complicate Novacium's eligibility for certain financing programs reserved for companies under French control, particularly in strategic sectors such as energy and defence. To better align with the companies' shared interests and facilitate Novacium's access to targeted financing programs, Novacium's articles of association have been amended to adopt a simple-majority decision-making framework. As part of this restructuring, HPQ elected to convert its Category P priority shares into common shares. This decision simplifies Novacium's governance structure and is expected to facilitate and accelerate Novacium's access to European financing programs reserved for companies under French control, particularly in the strategic energy and defence sectors. To this end, the company has initiated a deconsolidation process. As a result, HPQ's position in Novacium evolves from that of an associate company to a strategic investment, while maintaining close strategic alignment between the two companies in the development and commercialization of their technologies. Improved access to European innovation and industrial programs This new governance framework should also enable Novacium to significantly expand its access to public programs supporting innovation and industrial development as well as collaborative projects in the strategic energy and advanced technology sectors across France and Europe. "This evolution in governance reflects the growing maturity of Novacium's activities and is intended to support more efficient industrial and commercial deployment of its technologies in international markets," said Mr. Tourillon. Strengthened licensing agreement between HPQ and Novacium HPQ and Novacium have also entered into an enhanced licence agreement, further strengthening their strategic collaboration. This agreement reinforces HPQ's commitment to supporting Novacium's technology development and commercialization efforts, particularly with a view to deploying these technologies in North America. Under the terms of the agreement: Novacium secures part of its financing framework; HPQ receives perpetual, royalty-free usage rights to certain technologies upon full execution of the agreement. This structure significantly strengthens HPQ's strategic exposure to the value created through the commercialization of Novacium's technologies. "These strategic adjustments are extremely positive," said Jed Kraiem, founder and chief operating officer of Novacium. "They unlock Novacium's growth potential while significantly strengthening value creation for HPQ and its shareholders. We believe this synergy positions both companies to play an important role in the development of key technologies supporting the global energy transition." About Novacium SAS Novacium is an innovative technology start-up founded in 2022 in France. It is an engineering and R&D (research and development) company dedicated to energy-related materials, with specialization in silicon and hydrogen. Novacium is developing two technologies: a new silicon-based anode material that significantly increases lithium-ion battery capacity and a stand-alone hydrogen-generation system for civilian and military applications using a proprietary silicon-aluminum alloy fuel. 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 with technical support from PyroGenesis Inc. Together, these initiatives position HPQ to capture growth opportunities in the energy storage, clean hydrogen and advanced materials markets essential to achieving global net-zero goals. We seek Safe Harbor.