[July 23, 2026]

Nano One Advances Candiac LFP Capacity Expansion With Engineering 85% Complete

Nano One® Materials Corp. ("Nano One" or the "Company") (TSX: NANO) (OTCQB: NNOMF) (Frankfurt: LBMB), a process technology company specializing in lithium-ion battery cathode active materials (CAM), is pleased to provide a further progress update on its lithium iron phosphate (LFP) production capacity expansion project at its Candiac Facility, which will increase total production capacity to approximately 800 tonnes per annum (tpa).

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Image: Nano One's Candiac Facility-Demonstration Line expansion 85% engineering complete as of mid-July 2026.

Expansion Project Update
Further to its March 17, 2026 update, the Company is pleased to report that detailed engineering is now 85% complete as of mid-July 2026 and that the expansion project remains on schedule.

Major equipment purchase orders were completed in March 2026; some equipment has been shipped, with initial deliveries already received at the Candiac Facility. Vendors for the balance of smaller equipment have been selected, with final purchase orders expected to be completed by the end of August 2026. Approximately 95% of the project's equipment, measured by procurement cost-and 100% of IP-sensitive equipment-is being sourced from Canada, the US and the EU. The project remains on track with commissioning of the newly expanded production capacity targeted for the first half of 2027.

"Having now attained 85% completion as of mid-July, we expect to complete the project on time and on budget," states Denis Geoffroy, Chief Operating Officer of Nano One. "Our currently contracted funding programs, for which we have approximately $24 million left undrawn*, together with our working capital, fund this capital project to completion."

Existing Production and Scale-Up at Candiac
The Candiac Facility demonstrates the One-Pot™ process in full-scale, production-intent equipment, de-risking adoption and enabling Nano One's Design One Build Many licensing and joint-venture model. The expansion integrates and automates an existing full-scale 20m³ reactor whose design can be replicated in modular fashion. Alongside this, the lines generate commercial sales and support customer sample qualification, product and process improvement and raw material validation.

The Candiac Facility includes multiple front-end One-Pot production lines feeding shared downstream processing equipment, each designed for a distinct role, with total facility capacity of approximately 800 tpa once the expansion is commissioned:

• ~200 tpa Pilot Line-supports sample validation to secure and supply smaller-volume offtakes for defence and energy storage system customers, running smaller batches that reduce cost and enable continuous product and process improvement
• ~800 tpa Demonstration Line-commissioning targeted for the first half of 2027, bringing total capacity to approximately 800 tpa and enabling C-sample product qualification at the larger volumes required for larger customer offtakes

Design One Build Many-Licensing and Partnerships
Nano One's Design One Build Many model lowers the barrier to technology adoption. A cathode producer can adopt One-Pot technology without the inherent lead times and upfront capital required to build its own Demonstration Line, and the cell manufacturers it supplies keep working with existing supply chain partners. The licensing model is flexible: customers with a preferred engineering vendor can license the One-Pot technology directly from Nano One and engineer the production line through to a final investment decision, while those seeking a more complete solution can procure the integrated CAM Package developed with Worley.

The CAM Package provides a feasibility-level One-Pot production line with pre-qualified equipment vendors and raw material feedstocks, and Worley's technology solutions team supports project execution and deployment, helping customers de-risk their investment. Both paths are backed by the Candiac Facility, where customers can run sample validation cycles to secure large-volume offtakes before building a plant of their own, supported by operator training built on Nano One's LFP manufacturing know-how-reducing start-up cost and risk.

* As of the Company's most recent Q1 2026 Public Filings

About Nano One®
Nano One® Materials Corp. (Nano One) is a process technology company changing how cathode active materials (CAMs) are produced for lithium-ion batteries. Nano One's platform is built on a portfolio of patented processes, decades of manufacturing know-how and modular plant designs that enable scalable, cost-competitive and easier-to-permit CAM production with resilient supply chains. The technology eliminates wastewater and byproducts while enabling regionally sourced raw materials and reducing exposure to foreign supply chain volatility. Modular plants are designed with fewer steps to reduce capex, energy and environmental intensity and to accelerate deployment, manufacturing and licensing. Product development and process optimization are based at Nano One's Innovation Centre in Burnaby, British Columbia while piloting, demonstration and commercial production are based in Candiac, Québec, supported by a team with more than 15 years of commercial cathode manufacturing experience supplying global cell manufacturers. Strategic collaborations with global partners including Sumitomo Metal Mining, Rio Tinto and Worley support Nano One's Design-One-Build-Many growth strategy. Nano One has received funding support from the Governments of Canada, the United States, Québec and British Columbia.

For more information, please visit nanoOne.ca.

Cautionary Notes and Forward-Looking Statements

Certain information contained herein may constitute "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable securities legislation. Generally, all statements, other than statements of historical fact, are forward-looking statements. Forward-looking statements in this news release include, but are not limited to, statements regarding the timing, cost, scope and completion of the Candiac Facility expansion and the commissioning of approximately 800 tpa of capacity in the first half of 2027; the expectation that the project will be completed on time and on budget and funded to completion from contracted funding programs (including approximately $24 million of undrawn funding) together with working capital; the expected benefits and performance of the One-Pot™ process; the ability of the expanded capacity to support large-volume sampling, customer qualification, offtakes, plant design licensing and joint-venture opportunities; and the Company's "Design One Build Many" strategy and its collaborations with Sumitomo Metal Mining, Rio Tinto and Worley. Generally, forward-looking statements can be identified by the use of terminology such as "believe", "expect", "anticipate", "plan", "intend", "continue", "estimate", "may", "will", "should", "ongoing", "target", "targeted", "potential" or variations of such words, or statements that certain actions, events or results "will" occur.

Forward-looking statements are based on the current opinions and estimates of management as of the date such statements are made and are not, and cannot be, a guarantee of future results or events. They are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those expressed or implied, including but not limited to: project delays, cost overruns and execution challenges in engineering, procurement, construction, commissioning and scale-up; the availability and timely drawdown of contracted funding and satisfaction of related milestones; the performance and scale-up of the One-Pot™ process; the timing and conversion of customer sampling and qualification into commercial agreements; the Company's licensing, joint-venture and supply-chain strategies; general and global economic, market and regulatory changes; the Company's need for and access to additional capital; competition and changes in battery chemistries and demand; and the other risk factors identified in Nano One's most recent Annual Information Form and MD&A, and its recent securities filings, available at www.sedarplus.ca.

Although management has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake any obligation to update forward-looking statements, except as required by applicable securities laws.

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