Syntholene Energy Corp. Appoints HY Lee to Advisory Board and Grant Tanaka as Corporate Secretary

Mr. Lee Served as Contract Director of Barakah Nuclear Energy Plant, One of the Very Few Modern Nuclear Projects to Meet its Original Schedule and Cost Targets

Syntholene Energy Corp (TSXV: ESAF) (OTCQB: SYNTF) (FSE: 3DD0) announces today that HY Lee has been appointed to the Company's Advisory Board. Mr. Lee is a senior infrastructure and energy executive with extensive experience in large-scale industrial project delivery, strategic partnerships, and complex energy infrastructure execution. Over the course of his career, Mr. Lee has developed deep relationships within the engineering, energy, and sovereign investment ecosystems, including strategic engagement with organizations connected to Hyundai Engineering & Construction and Asian and Middle Eastern Sovereign Wealth Funds.

"I am pleased to join Syntholene's Advisory Board at an important stage in the Company's development," commented Mr. Lee. "I hope to help accelerate the commercialization of Syntholene's synthetic aviation fuel, and contribute to securing a broad customer base."

During his former role at Korea Electric Power Corporation (KEPCO), Mr. Lee served as the Lead Executive and Contract Manager on the $24.4 billion Barakah Nuclear Energy Plant project, located in the United Arab Emirates.The Barakah project, which consists of four APR-1400 nuclear reactors representing approximately 5.6 gigawatts of generating capacity, was developed by a Korean-led consortium including KEPCO, Korea Hydro & Nuclear Power (KHNP), and Hyundai Engineering & Construction. Mr. Lee was responsible for overseeing the construction of the reactor units from 2010 onward. The Barakah project has been widely recognized for its schedule discipline, construction execution, and project management performance relative to global nuclear industry benchmarks.

"HY brings firsthand experience from one of the most operationally disciplined large-scale energy infrastructure programs constructed this century," stated Dan Sutton, CEO of Syntholene. "His background in complex project execution, multinational stakeholder coordination, and strategic industrial partnerships strengthens Syntholene's capabilities as the Company advances its geothermal-integrated synthetic fuel infrastructure strategy."

Appointment of Grant Tanaka as Interim Corporate Secretary

The Company also announced that it has appointed Grant Tanaka, the Company's Chief Financial Officer, as interim Corporate Secretary effective May 8, 2026. Mr. Tanaka has served as the Company's Chief Financial Officer since May 2021 and has experience at both the corporate and operational levels having worked throughout North America, Mexico, Africa and the Middle East. Jen Hanson, the former Corporate Secretary of the Company, resigned to pursue other business interests.

Further Details Regarding the Rapier Report

The Company also announced additional details regarding Mr. Robert Rapier's independent technical and economic assessment of the Company's thermally integrated electrolysis platform dated May 2026 (the "Report"). The Report was published and previously announced on May 7, 2026. Mr. Rapier is a chemical engineer with degrees in chemistry, mathematics, and chemical engineering. He has publicly and rigorously assessed biofuel companies and is recognized as a leading expert in the synthetic fuel sector. Mr. Rapier's assessment of the Company and its thermally integrated electrolysis platform took place over three months and involved, among other things, a technical analysis of the Company's platform, an assessment of the hydrogen and synthetic fuel market, a risk assessment, and potential risk mitigation strategies. In consideration for his work, the Company paid Mr. Rapier a fixed fee of US$6,000. Such fee was not success or contingency based and Mr. Rapier acts at arm's length to the Company. A summary of the Report is available here.

About Syntholene

Syntholene is actively commercializing its novel Hybrid Thermal Production System for low-cost clean fuel synthesis. The target output is ultrapure synthetic jet fuel, which the Company seeks to manufacture at 70% lower cost than the nearest competing technology today. The Company's mission is to deliver the world's first truly high-performance, low-cost, and carbon-neutral synthetic fuel at an industrial scale, unlocking the potential to produce clean synthetic fuel at lower cost than fossil fuels, for the first time. Syntholene has begun construction of the world's first geothermally-integrated high temperature electrolysis demonstration facility in Husavik, Iceland.

Founded by experienced operators across advanced energy infrastructure, nuclear technology, low-emissions steel refining, process engineering, and capital markets, Syntholene aims to be the first team to deliver a scalable modular production platform for cost-competitive synthetic fuel, thus accelerating the commercialization of carbon-neutral eFuels across global markets.

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

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "aims", "continue", "estimate", "objective", "may", "will", "project", "should", "believe", "plans", "intends", "targets" and similar expressions are intended to identify forward-looking information or statements. All statements, other than statements of historical fact, including but not limited to statements regarding the demonstration facility, commercial scalability, economic benefits of the Company's products relative to competitive products, the Company's ability to execute on its plans for advancement and commercialization of its technology, technical and economic viability, and future commercial opportunities, are forward-looking statements.

The forward-looking statements and information are based on certain key expectations and assumptions made by the Company, including without limitation the assumption that the Company will be able to execute its business plan in the manner and timeline set forth in its public disclosure or at all, that the engaged service providers have the skills to advance the Company's business plans, that the eFuel will have its expected benefits, that there will be market adoption, that the Company's review of the competitive landscape and that its understanding of being the world's first Company to have geothermal-SOEC integration remain accurate, that any potential competitors to the Company would not be able to develop or execute geothermal-SOEC integration as quickly or as well as the Company, that the Company will be able to produce the eFuel at competitive pricing in the range anticipated in this news release or at all, that the proposed validation testing will be able to be completed, and that the results from such tests will validate the Company's technology and support further commercialization, that geothermal heat will be available to the Company at the necessary levels, that the proposed demonstration facility will be completed on time and on budget, that the Company will continue to have access to skilled personnel with relevant experience, that regulatory requirements remain favourable for the Company, and that the Company will be able to access financing as needed to fund its business plan. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that they will prove to be correct. Since forward-looking statements and information address future events and conditions, by their very nature, they involve inherent risks and uncertainties.

Actual results could differ materially from those currently anticipated due to a number of factors and risks, including, without limitation, Syntholene's ability to complete the testing, that the results of the testing will support continued commercialization and the Company's technology, that the engaged service providers do not have the necessary skills to and do not advance the Company's business plan, that there are competitors in geothermal-SOEC integration that are unknown to the Company, that the Company may not be able to produce eFuel at the targeted prices or at a price that is lower than potential competitors, that definitive commercial purchase orders for Syntholene's eFuel may not materialize, Syntholene's ability to meet production targets, realize projected economic benefits, overcome technical challenges, secure financing, maintain regulatory compliance, manage geopolitical risks, and successfully negotiate definitive terms. Syntholene does not undertake any obligation to update or revise these forward-looking statements, except as required by applicable securities laws.

This news release contains future-oriented financial information and financial outlook information (collectively, "FOFI") about the cost and pricing of the eFuel product that Syntholene is seeking to commercialize, which is subject to the same assumptions, risk factors, limitations, and qualifications as set forth in the above paragraphs. FOFI contained in this news release was made as of the date hereof and was provided for the purpose of describing the anticipated effects of advancement of Syntholene's business operations. Syntholene's actual results, performance or achievement could differ materially from those expressed in, or implied by, such FOFI. Syntholene disclaims any intention or obligation to update or revise any FOFI contained in this news release, whether as a result of new information, future events or otherwise, unless required pursuant to applicable law. Readers are cautioned that the FOFI contained herein should not be used for purposes other than for which it is disclosed herein.

Readers are advised to exercise caution and not to place undue reliance on the forward-looking statements and FOFI in this news release.

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