CHARBONE CORPORATION Files Amended 2025 Financial Statements Following Regulatory Review

Varennes, Quebec, November 13, 2026 — Leads & Copy — CHARBONE CORPORATION (TSXV: CH; OTCQB: CHHYF; FSE: K47), an industrial gases company, has filed its 2025 Amended Consolidated Financial Statements and Management’s Discussion & Analysis, along with the corresponding officers’ certificates. This action follows a routine continuous disclosure review by the Autorité des marchés financiers (AMF). The company stated that the corrections have no impact on its operating loss or its operating, investing, and financing cash flows.

The amendments address an accounting treatment for the settlement of trade payables during the fiscal year ended December 31, 2025. CHARBONE had agreed with certain suppliers to settle outstanding payables through the issuance of units, with each unit comprising either one common share or one common share and one warrant. Following a review in the third quarter of 2026, the Company determined that certain gains on these settlements were incorrectly measured.

The error has been corrected by restating the amounts for the year ended December 31, 2025. The restatement reflects the measurement of equity instruments using quoted prices in active markets at the issuance date, rather than at the time of the transactions with suppliers. This correction involved an increase of $1 million in share capital and $0.7 million in warrants, with no net impact on shareholder equity or total assets and liabilities. However, the financial expense for the year ending December 31, 2025, increased by $1.7 million.

Benoit Veilleux, Chief Financial Officer and Corporate Secretary of CHARBONE, stated that the correction is primarily linked to the appreciation of the share price between the negotiation of the settlement agreement in 2025 and the subsequent issuance of shares. He added that the company understands and agrees with the AMF's technical accounting perspective and takes the regulator's comments seriously, demonstrating good faith in its discussions.

CHARBONE has implemented corrective disclosures in the amended annual filings and is continuously enhancing its disclosure controls and procedures for financial reporting.

In other news, CHARBONE will host a webinar on Tuesday, December 1, 2026, at 11:00 am ET to present its third-quarter 2026 results, recent operational achievements, and upcoming milestones. Investors can register for the webinar online, with opportunities to submit questions beforehand or during the live session.

CHARBONE is a vertically integrated industrial gases company focused on producing, distributing, and storing clean ultra-high purity hydrogen and other strategic industrial gases. The company serves sectors such as semiconductors, artificial intelligence, data centers, pharmaceuticals, and aerospace and defense. CHARBONE is developing a network of clean UHP hydrogen production plants across North America and internationally, utilizing a modular, decentralized approach. The company is listed on the TSX Venture Exchange (TSXV: CH), the OTC Markets (OTCQB: CHHYF), and the Frankfurt Stock Exchange (FSE: K47).

Source: CHARBONE CORPORATION