• Nano One and Johnson Matthey announce the signing of a Joint Development Agreement.
• Co-development of next generation products and processes for Johnson Matthey's eLNO® family of nickel-rich advanced cathode materials using Nano One's patented One-Pot process.
• Includes detailed commercialization study for pre-pilot, pilot and scaled up production.
• Builds on the successful technical reviews and evaluations conducted by Nano One and JM over the past year.

Nano One® Materials Corp. (TSXV: NNO) (OTC Pink: NNOMF) (FSE: LBMB) (Nano One), a clean technology innovator in battery materials, and Johnson Matthey (JM), a global leader in sustainable technologies, today announce a joint development agreement. Under this agreement the companies will co-develop next generation products and processes for Johnson Matthey's eLNO® family of nickel-rich advanced cathode materials using Nano One's patented One-Pot process and coated nanocrystal technology, for the low-cost, low-carbon footprint production of high-performance lithium ion battery cathode materials.

JM has already made significant progress in the commercialisation of its family of nickel rich advanced cathode materials and has set a new standard in the sustainable production of battery cathode materials. Nano One's patented One-Pot process is designed to form a type of cathode material known as "coated single crystal" which can deliver increased durability. The process will also enable these materials to be made directly from metal powders and lithium carbonate to address cost, energy and sustainability objectives across the entire lithium-ion battery supply chain.

The agreement will focus on developing materials, methods of production and a detailed commercialization study for pre-pilot, pilot and scaled up manufacturing. The agreement is the culmination of successful technical reviews and preliminary evaluations of both Nano One's high nickel cathode materials and IP conducted over the past year and represents a significant milestone in the business relationship between both companies.

Mr. Dan Blondal, Nano One CEO, said:

"Johnson Matthey is a global leader in advanced lithium-ion cathode materials, and we are proud to be working with them in the pursuit of high performance, long life cycles, low-carbon footprint and environmentally sustainable solutions. We share a common vision to develop and commercialize a highly differentiated and value-added cathode materials business and we are delighted to be introducing Johnson Matthey as a trusted partner and collaborating on process innovation for a new generation of lithium-ion battery materials. Our business is primed for such opportunities and we look forward to advancing this partnership and its joint development program."

Christian Gunther, Chief Executive, Battery Materials at Johnson Matthey, added:

"We are encouraged by Nano One's innovations and believe its technology has the potential to offer significant advantages in terms of product performance, sustainability and manufacturing cost for our eLNO® family of advanced cathode materials. We are looking forward to building business opportunities and a long lasting collaborative working relationship."

About Nano One

Nano One Materials Corp (Nano One) is a clean technology company with a patented, scalable and low carbon intensity industrial process for the low-cost production of high-performance lithium-ion battery cathode materials. The technology is applicable to electric vehicle, energy storage, consumer electronic and next generation batteries in the global push for a zero-emission future. Nano One's One-Pot process, its coated nanocrystal materials and its Metal to Cathode Active Material (M2CAM) technologies address fundamental performance needs and supply chain constraints while reducing costs and carbon footprint. Nano One has received funding from various government programs and the current "Scaling of Advanced Battery Materials Project" is supported by Sustainable Development Technology Canada (SDTC) and the Innovative Clean Energy (ICE) Fund of the Province of British Columbia. For more information, please visit www.nanoone.ca

About Johnson Matthey PLC

Johnson Matthey (JM) is a global leader in science that enables a cleaner and healthier world. With over 200 years of sustained commitment to innovation and technological breakthroughs, we improve the performance, function and safety of our customers' products. Through continued investment in research and development, we are tackling the world's big challenges, including through our pioneering work in battery material technologies. Here we are commercialising eLNO®, our family of nickel rich advanced cathode materials, which we expect to be ready to power the next generation of hybrid and battery electric vehicles in 2024. Our first manufacturing plant, currently under construction in Poland will initially supply 10,000 MT per year of eLNO®, equivalent to ~100,000 electric vehicles. The construction of our second plant is scheduled for later this year, and will initially supply 30,000MT of eLNO® per year.

Across JM, our science has a global impact in areas such as enabling the energy transition, low emission transport, pharmaceuticals, chemical processing and making the most efficient use of the planet's natural resources. Today, more than 15,000 JM professionals collaborate with our network of customers and partners to make a real difference to the world around us. For more information, visit www.matthey.com

Company Contact:

Nano One:
Paul Guedes
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(604) 420-2041

Media Contact:
Lisa Nash
Antenna Group for Nano One
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(646) 883-4296

Johnson Matthey:
Rebecca Williams
+44 (0)207 269 8400
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Certain information contained herein may constitute "forward-looking information" under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the actual receipt of the grant monies, the execution of the Company's plans which are contingent on the receipt of such monies and the commercialization of the Company's technology and patents. Generally, forward-looking information can be identified by the use of forward-looking terminology such as 'believe', 'expect', 'anticipate', 'plan', 'intend', 'continue', 'estimate', 'may', 'will', 'should', 'ongoing', or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, 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 from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company does not undertake to update any forward-looking statements or forward-looking information that is incorporated by reference herein, except as required by applicable securities laws.

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