German Federal Ministry for Economic Affairs and Energy Officially Opens HyProMag Second Plant in Pforzheim, Germany

• German Federal Ministry for Economic Affairs and Energy officially opens HyProMag plant in Pforzheim, Germany. HyProMag's second commercial scale rare earth sintered magnet manufacturing facility

• Facility further derisks HyProMag USA roll out and accelerates opportunity for U.S. customer magnet product verification

VANCOUVER, BC / ACCESS Newswire / April 28, 2026 / CoTec Holdings Corp. (TSXV:CTH,OTC:CTHCF)(OTCQB:CTHCF) ("CoTec" or the "Company") is pleased to note today's press release by HyProMag USA, LLC ("HyProMag USA"), its U.S.-based joint venture rare earth permanent magnet recycling and manufacturing company.

HyProMag USA announced the official launch of HyProMag GmbH's ("HyProMag Germany") rare earth magnet facility today at Pforzheim (the "Facility"). HyProMag Germany today hosted the opening of the Facility for separating and recycling rare earth magnets using the patented Hydrogen Processing of Magnet Scrap ("HPMS") technology, licensed exclusively to HyProMag. The Facility was officially opened by Stefan Rouenhoff, Parliamentary State Secretary of the Federal Ministry for Economic Affairs and Energy.

The Facility is the second commercial scale rare earth sintered magnet manufacturing facility alongside the recently commissioned HyProMag Ltd. facility in the UK. HyProMag Germany, once fully commissioned, will have a minimum initial capacity of approximately 100 metric tons per annum of NdFeB product increasing to up to circa 350 metric tons per annum of Product. A further scale-up to 750 tonnes per annum is currently under evaluation.

Julian Treger, CoTec CEO commented: "The official opening of HyProMag's second plant in Germany is a further major milestone after 20 years development at the University of Birmingham of the HPMS technology. HyProMag's second plant will provide the further technical expertise to support a scalable U.S. manufacturing platform and optimize products for U.S. customers. Collaboration between the HyProMag businesses provides a long-term solution in securing resilience in domestic supply chains and partnership between countries."

CoTec holds a 20.6% equity interest in Maginito, which owns 100% of HyProMag UK, 90% of HyProMag Germany and 50% of HyProMag USA.

CoTec owns the remaining 50% of HyProMag USA (CoTec effective interest in HyProMag USA is 60.3% - 50% direct and 10.3% indirect).

Building Momentum Toward U.S. Commercial Scale

HyProMag USA is building momentum through a series of recent milestones for HyProMag USA, including expansion announcement in South Carolina and Nevada^[i], detailed engineering and feasibility work on the Texas Hub^[ii], execution of the site lease^[iii] at the Ironhead Commerce Center, and the company's intention to pursue a U.S. public listing. Together these developments reflect accelerating momentum as HyProMag USA advances toward commercial operations and a scaled, multi-state U.S. manufacturing footprint.

In parallel, HyProMag USA is engaging with large technology and infrastructure operators to support the growing need for secure, domestic recycling solutions for magnet-bearing equipment used in hyperscale data centers and AI infrastructure. The Company's modular, low carbon, magnet-to-magnet recycling platform is designed to support end-of-life recovery of rare earth materials from servers, storage systems, and related equipment, positioning HyProMag USA as a preferred long-term recycling and manufacturing partner for hyperscale customers as capacity expands in the United States.

About HyProMag USA

HyProMag USA LLC is owned 50:50 by CoTec and HyProMag Limited. HyProMag Limited is 100 per cent owned by Maginito Limited which is owned on a 79.4/20.6 per cent basis by Mkango Resources Ltd. (AIM/TSX-V: MKA) and CoTec.

For more information, please visit www.hypromagusa.com

About CoTec

CoTec Holdings Corp. (TSXV:CTH,OTC:CTHCF)(OTCQB:CTHCF) is redefining the future of resource extraction and recycling. Focused on rare earth magnets and strategic materials, CoTec integrates breakthrough technologies with strategic assets to unlock secure, sustainable, and low-cost supply chains.

CoTec's mission is clear: accelerate the energy transition while strengthening U.S. economic and national security. By investing in and deploying disruptive technologies, the Company delivers capital-efficient, scalable solutions that transform marginal assets, tailings, waste streams, and recycled products into high-value critical minerals.

From its HyProMag USA magnet recycling joint venture in Texas, to iron tailings reprocessing in Québec, to next-generation copper and iron solutions backed by global majors, CoTec is building a diversified portfolio with long-term growth, rapid cash flow potential, and high barriers to entry. The result is a differentiated platform at the intersection of technology, sustainability, and strategic materials.

For further information, please contact:

Eugene Hercun - Company Communications - +1 604 537 2413

Forward-Looking Information Cautionary Statement

Statements in this press release regarding the Company and its investments which are not historical facts are "forward-looking statements" which involve risks and uncertainties, including statements relating to the Company's interest in HyProMag USA and HyProMag, the potential future value of HyProMag USA and HyProMag and management's expectations with respect to its current and potential future investments, including HyProMag USA and HyProMag, and the benefits to the Company which may be implied from such statements. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements, due to known and unknown risks and uncertainties affecting the Company, including but not limited to resource and reserve risks; environmental risks and costs; labor costs and shortages; uncertain supply and price fluctuations in materials; increases in energy costs; labor disputes and work stoppages; leasing costs and the availability of equipment; heavy equipment demand and availability; contractor and subcontractor performance issues; worksite safety issues; project delays and cost overruns; extreme weather conditions; and social and transport disruptions. For further details regarding risks and uncertainties facing the Company please refer to "Risk Factors" in the Company's filing statement dated April 6, 2022, a copy of which may be found under the Company's SEDAR profile at www.sedar.com. The Company assumes no responsibility to update forward-looking statements in this press release except as required by law. Readers should not place undue reliance on the forward-looking statements and information contained in this news release and are encouraged to read the Company's continuous disclosure documents which are available on SEDAR+ at www.sedarplus.ca.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

SOURCE: CoTec Holdings Corp.