Smoltek

For the semiconductor business area, Smoltek announced on December 6, 2023, that the Company expected to sign a global exclusive license and service agreement between its subsidiary Smoltek Semi AB and Kemet Electronics Corporation, a subsidiary of Yageo Group (`'Yageo''), for ultra-thin capacitors. As the negotiations with the Yageo Group unexpectedly ended in March 2024, which was announced via a press release on March 26, 2024, the Company now has the opportunity to, in a coordinated manner and in a significantly broader scale than before, offer interested parties to submit bids regarding license agreements or the acquisition of parts of or entire assets. This is possible as there no longer exists any exclusivity related to negotiations or bids regarding Smoltek's CNF-MIM technology.

For the hydrogen business area, it has been and still is the Company's strategic focus to sign agreements with one or more commercial or financial partners for its cell material for electrolyzers in 2024.

The bidding processes are estimated to take approximately 6-12 months, and the Company will, to the extent that it is possible, provide ongoing updates to the market during the implementation of the process.

"The board notices that there is currently a large gap between the stock market's confidence in Smoltek and the values that the board and management see in the Company for the two established business areas, but also within potential new areas of use. In order to secure the company's continued growth and development, the board has decided to explore the possibility of divesting the entire or parts of the subsidiaries Smoltek Semi and Smoltek Hydrogen, or their technology. This step will help to ensure the Company's long-term success and enable continued investments and innovations and aims to maximize shareholder value in the short as well as the long term," says Smoltek's chairman of the board Per Zellman.

"We have achieved significant value-driven progress in Smoltek Semi and Smoltek Hydrogen, and now that we are no longer bound by any exclusivity in the semiconductor area, we can have a much more open dialogue with more potential partners. Based on our recent detailed analysis of competing solutions, we are convinced of the potential of our capacitor technology CNF-MIM. This technology may be the only viable alternative to today's silicon capacitors, more specifically so-called silicon deep trench capacitors, which are used in leading mobile phones and are beginning to approach their performance limit and are dominated by a few suppliers. In the hydrogen field, the recent positive technical results should convince existing and new potential business partners of the potential of our technology. When we now have full freedom to offer both of our business areas to financial and industrial companies, many new doors are opened, and we continue to look positively on the future of Smoltek's nanotechnology platform in both current and future business areas," says Smoltek's CEO Håkan Persson.

Smoltek has recently announced important value-driven milestones in both the semiconductor business area in the development of the Company's CNF-MIM technology for ultra-thin capacitors, as well as in the hydrogen business area regarding cell materials for PEM electrolyzers.

• In April 2024, it was announced that Smoltek's Gen-One CNF-MIM capacitors are expected to become commercially competitive in comparison with the competing silicon deep trench capacitors technology in 2024.

• In April 2024, successful test results for the Company's cell material for PEM electrolyzers were also announced. Hydrogen was produced during 1,000 hours of continuous operation, with a catalyst loading of only 0.2 mg of iridium/cm², supporting the technology's potential to radically minimize the amount of precious iridium.

These positive development results make both business areas highly interesting for both financial and industrial companies to create revolutionary products and new revenue streams that create value for themselves as well as Smoltek's shareholders.