Nano One Reports Q4 2023 Results and Provides Progress Update - Seite 2

The Company has also achieved significant milestones on its commercialization roadmap including the recommissioning of its recently acquired Candiac LFP production facility. Testing, piloting and showcasing of LFP is underway in full scale equipment that demonstrates the commercial, environmental and security advantages of producing of LFP using the One-Pot process. A significant outcome from these achievements is the September 2023 C$17M strategic investment made by Sumitomo Metal Mining ("SMM") and the resulting collaboration to accelerate the commercial adoption of the One-Pot process for LFP and NMC through potential licensing and joint venture opportunities. SMM is a world-renowned miner, refiner and producer of cathode active materials dating back to applications in early portable electronics and the emergence of hybrid and fully electric vehicles.

• Secured $17M investment and collaboration with Sumitomo Metal Mining.
• Awarded $10M in grant funds from SDTC.
• Successfully completed NMC evaluations with global OEM and expanded collaboration to include LFP.
• Demonstrated, de-risked and fast-tracked tonne-scale sampling of One-Pot LFP.
• Completed pre-feasibility study ("FEL2") of 12,500 tpa LFP production line.
• Laid out commercialization plans for LFP and other materials.
• Signed JDA with Our Next Energy to collaborate on the validation, qualification, and production of a North American supply of LFP CAM.
  • Japan: Formation of lithium metal oxide cathodes from elemental metal.

2024 Q1 - Corporate Milestones and Developments

Additional Lithium Battery Manufacturing Patents added in Asia

On February 21, 2024, the Company announced the addition of four new patents in Asia, thereby expandingits portfolio to 40 patents with 55+ pending. These additional patents showcased the depth and global relevance of Nano One's innovative One-Pot process. They also added to shareholder value and Nano One's technology offering while enhancing Nano One's leadership position and safeguarding commercial advantages. The issued patents were as follows:

• Taiwan: Battery enhancement using simplified electrolyte and One-Pot cathode.
• China and Korea: Simultaneous formation of coating and cathode in single step.

Feasibility Study (FEL3) Study

On February 27, 2024, the Company announced the commencement of a feasibility study ("FEL3") for a 25,000 tpa LFP commercial plant to support customer offtake, feedstock supply, and future project funding efforts. The plant design will also form the basis of Nano One's turn-key Design-Once-Build-Many strategy to address the broader LFP market. The FEL3 study will provide an optimal production line layout and maximum utility of key equipment. Furthermore, this study will address Nano One's mid-to-longer-term objective of deploying multi-line facilities under license or joint venture with partners in Asian, Indo-Pacific, North American and European jurisdictions. Progress at Nano One's pilot plant has helped de-risk, improve, and optimize the One-Pot process for LFP in commercial scale equipment while informing engineering plans and providing confidence to Nano One's collaborators on the long-term competitive viability of Nano One's CAM production technologies.

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