HPQ Silicon Finalizes Increased Ownership in Novacium SAS

• HPQ Silicon Expands Its Stake in Novacium and Streamlines Strategic and Operational Alignment Between the Two Companies

MONTREAL, Canada — HPQ Silicon Inc. (“HPQ” or the “Company”) (TSX-V: HPQ) (OTCQB: HPQFF) (FRA: 8PY1), a technology company specializing in advanced materials innovation and the development of next-generation processes, announces that the TSX Venture Exchange issued a bulletin on February 24, 2026, confirming its acceptance of the transaction previously announced on February 3, 2026, between the Company 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% to 36.8%.

“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 CEO of HPQ Silicon Inc.

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 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 defense.

To better align with the companies’ shared interests and facilitate Novacium’s access to targeted funding 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 share 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 defense 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 license 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 startup founded in 2022 in France. It is an engineering and R&D 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 Li-ion battery capacity, and a standalone hydrogen-generation system for civilian and military applications using a proprietary silicon–aluminum alloy fuel.