Acceleware Ltd. — Board/Management Information 2025

Sep 15, 2025

Accelerware Announces Advisory Board Appointments and Grant of Stock Options

CALGARY, ALBERTA – September 15, 2025 – Accelerware® Ltd. (“Accelerware” or the “Company”) (TSX-V: AXE), a leading innovator of cutting-edge radio frequency (“RF”) power-to-heat technologies targeting process heat for critical minerals, amine regeneration (for $\mathrm{CO}{2}$ and $\mathrm{H}{2}\mathrm{S}$ removal and other applications), and enhanced oil production, today announced the appointment of three senior executive advisors to Accelerware’s advisory board (“Advisory Board”). The Company is also announcing a grant of options to the members of the Advisory Board, and certain members of the Accelerware’s board of directors.

Advisory Board Update

Effective September 12, 2025, Accelerware welcomes Juan Benitez, Jason de Jong and Ryan Cross to its Advisory Board joining returning members Cal Coulter, Sean David and Don Verdonck. John Howard, Jeff Reading and Chad Robinson have stepped down from the Advisory Board after several years of valued counsel but will remain available to support a smooth transition.

“We are grateful to John, Jeff and Chad for their many contributions and commitment to Accelerware over the years,” said Geoff Clark, Chief Executive Officer. “I am equally delighted to welcome Juan, Jason and Ryan to the Advisory Board. Accelerware requires a team of strategic, hands-on, and highly experienced individuals to accelerate commercialization and drive shareholder value. This refreshed Advisory Board supports our urgency to bring our technologies to market, and these new appointments are an excellent fit to help deliver strong results.”

About the Appointees

Juan Benitez, P. Eng., MBA, has served as a Venture Partner at BDC Capital and as an Executive Business Advisor with Alberta Innovates. He spent six years at Cenovus Energy, where he co-founded Evok Innovations and managed the Cenovus corporate venture capital fund portfolio. He brings extensive experience in building strategic partnerships and advancing technology commercialization to address environmental and economic challenges in the energy sector.

Jason de Jong, MBA, has been focused on the intersection of thermodynamics, economics and public policy. Jason has been working in the Canadian Energy Industry since 1995, consulting as an Energy Resource Project Developer since 2004, and pursuing advancement of energy decarbonization systems since 2016. His development experience spans conventional oil and gas production, thermal heavy oil recovery including greenfield and brownfield SAGD projects, combined steam and power generation, gas processing, hydrogen production, and technology evaluation and demonstration.

Ryan Cross, C.E.T., PMP, MBA, is a senior executive with more than 30 years of hands-on experience in energy and clean technology. He has led operations, commercialization, and business development efforts in carbon capture, renewables, and emerging energy technologies globally. Ryan excels at advancing innovations from development to deployment.

As of September 12, 2025, Accelerware has granted stock options to acquire up to 1,445,000 common shares of the Corporation (“Common Shares”) to certain of its advisors and directors. The options have an exercise price of $0.09 per Common Share and expire on September 12, 2030.

Of the 1,445,000 options granted, 722,500 shall vest on the first anniversary of the grant date, and 722,500 shall vest on the second anniversary of the grant date. The Corporation’s stock option plan allows for 13,044,026 Common Shares to be reserved for issuance under the plan. Upon issuance of the options granted, there will be 11,007,466 Common Shares reserved under options outstanding, leaving 2,036,560 Common Shares that may be reserved for issuance under the Corporation’s stock option plan. The stock option grant is subject to regulatory approval.

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About Acceleware

Acceleware is an advanced electromagnetic heating company with cutting-edge RF power-to-heat solutions for large industrial applications. The Company's technologies provide an opportunity to electrify and decarbonize industrial process heat applications while reducing costs.

The Company is working to use its patented and field proven Clean Tech Inverter to materially improve the efficiency of amine regeneration, and has partnered with a consortium of world-class potash partners seeking to decarbonize drying of potash ore and other critical minerals. Acceleware is actively developing other process heat applications and partnerships for RF heating.

Acceleware's RF XL is a patented low-cost, low-carbon RF thermal enhanced oil production technology for heavy oil that is materially different from any enhanced recovery technique used today. Acceleware is a public company listed on the TSXV under the trading symbol "AXE".

For more information:

Geoff Clark
Tel: +1 (403) 249-9099
geoff.clark@acceleware.com