Announcement • Jun 02
Nano One Materials Corp. Announces CEO Changes, Effective June 12, 2026 Nano One Materials Corp. announced that Dan Blondal, Founder and Chief Executive Officer, will retire from his executive management and Board Director role effective June 12, 2026. Alex Holmes, currently President and Chief Strategy Officer, will assume the role of Chief Executive Officer on the same date, June 12, 2026. Mr. Blondal will continue to support the Company in an advisory capacity following his retirement. The transition reflects a planned succession process developed in concert with the Board of Directors and supports continuity as Nano One advances toward commercialization of its cathode active materials technology. Mr. Blondal founded Nano One in 2011 and has served as Chief Executive Officer since the Company's inception, leading the development of its global portfolio of more than 50 patented cathode active materials process technologies, guiding the Company through its public listing on the TSX Venture Exchange in 2015 and graduation to the Toronto Stock Exchange in 2021, and establishing the early relationships with Canadian and provincial government partners that have continued to deepen and expand. His leadership built the credibility and relationships-across the global battery supply chain, with government partners and within capital markets-that opened doors for the Company and laid the foundation for its current commercialization phase. Mr. Holmes was appointed President and Chief Strategy Officer in February 2026, having previously served as Chief Operating Officer since 2021. He draws on nearly 25 years of experience in capital markets and corporate leadership, including approximately ten years in investment banking and senior executive roles at several public companies focused on critical minerals and technology. New Risk • May 19
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$17m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$17m free cash flow). Earnings are forecast to decline by an average of 44% per year for the foreseeable future. Revenue is less than US$1m. Minor Risks Currently unprofitable and not forecast to become profitable next year (CA$26m net loss next year). Market cap is less than US$100m (CA$116.2m market cap, or US$84.6m). 
