Nano One Advances One-Pot LFP Customer Sampling with Sumitomo Metal Mining

• Positive feedback from SMM’s cell manufacturer and automaker customers on One-Pot™ samples
• Latest-generation LFP cathode material now ready for those customers as the next step in qualification
• Nano One estimates potential savings of up to US$1 million per year for every 1,000 tonnes per annum of capacity, based on SMM’s evaluation of One-Pot™

VANCOUVER, British Columbia — 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, provides an update on its strategic collaboration with Sumitomo Metal Mining Co., Ltd. (TSE: 5713) (“SMM”), a strategic project partner under Nano One’s NRCan-funded programs.

Since SMM’s strategic investment in 2023, the two companies have been closely collaborating on both technical and commercial aspects of the Company’s LFP cathode material production technology. The focus on LFP chemistry remains a key priority for this partnership, given the significant market opportunity as LFP continues its robust growth in volume and share of the lithium battery energy storage segment.

Munekazu Kawata, Managing Executive Officer, General Manager of SMM’s Battery Materials Division said, “Our economic modelling of the One-Pot process continues to be positive, and we see it as a high-quality, cost-effective manufacturing solution for LFP cathode materials with potential from both a production and a commercial standpoint. Our customers have provided positive feedback on samples produced through the One-Pot process. We continue to advance our own LFP business, and our collaboration with Nano One is complementary to it as we work to serve growing demand for LFP.”

SMM has continued to advance its validation work on the One-Pot process over the past year, including its own economic modelling, product testing and the supply of One-Pot LFP samples to its customers. This reflects SMM’s stated commitment to providing large, secure supplies of high-quality LFP cathode materials to markets around the world as demand grows. SMM continues to advance its existing LFP production and solid-phase process development while evaluating One-Pot as a complementary route to cost-competitive supply for its customers. Based on that modelling, Nano One estimates potential conversion cost savings of up to US$1 million per year for every 1,000 tonnes of annual capacity.¹ The positive customer feedback on One-Pot samples follows from that work and builds on the confidence in the One-Pot process that SMM expressed in September 2025.

“Sumitomo Metal Mining is a well-established producer with over two decades of experience in battery cathode materials. We are pleased that SMM sees the potential of our proprietary One-Pot technology from both a production and a commercial standpoint, and that their customers are responding positively to our samples. I believe this will further enhance the value proposition to potential customers, licensees and joint venture partners that we are engaging with. We are appreciative of the support and guidance that SMM has provided Nano One since their initial investment in the Company and are very pleased to see them advancing sampling of our One-Pot LFP with their own customers,” said Denis Geoffroy, COO of Nano One.

Nano One’s latest One-Pot LFP has reached a pressed density suitable for evaluation by high-performance cell producers and samples are ready for customer evaluation. Engagement with SMM’s existing cell manufacturing and automotive customers is underway. These are key steps in a multi-step product qualification pathway that must be completed in order to advance to eventual commercial offtake.

SMM and Nano One continue to work towards collaboration on a large-scale LFP production facility in Canada, subject to securing customer offtake, project financing and government funding support. SMM has participated as an in-kind project partner under the C$9.3 million NRCan Energy Innovation Program funding awarded to Nano One and has also been contributing technical expertise, testing and external validation as part of the C$3 million NRCan LFP supply chain initiative.

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.

¹ Derived from SMM internal economic modelling; US$ figures converted by Nano One at the three-year average USD/JPY exchange rate of ¥152 (Federal Reserve G.5A annual averages for 2024 and 2025 and 2026 year-to-date).

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