Reflex Advanced Materials Corp. — Capital/Financing Update 2026

Feb 7, 2026

{0}------------------------------------------------

FORM 51-102F3 MATERIAL CHANGE REPORT

Item 1 Name and Address of Company

Reflex Advanced Materials Corp. (the "Company") Suite 915 - 700 West Pender Street Vancouver, BC V6C 1G8

Item 2 Date of Material Change

January 30, 2026

Item 3 News Release

The Company disseminated a news release announcing the material change described herein through the news dissemination services of Globe Newswire on January 30, 2026, and a copy was subsequently filed on SEDAR+.

Item 4 Summary of Material Change

The Company announced that it has closed its previously announced non-brokered private placement offering of units of the Company ("Units"), at a price of C\$0.175 per Unit, for aggregate gross proceeds of C\$199,925.

Item 5 Full Description of Material Change

Item 5.1 Full Description of Material Change

The Company announced that it has closed its previously announced non-brokered private placement offering of Units, at a price of C\$0.175 per Unit, for aggregate gross proceeds of C\$199,925. Each Unit is comprised of one Share and one Warrant, with each Warrant entitling the holder to acquire one Warrant Share at a price of C\$0.23 for a period of 24 months.

The Company intends to use the net proceeds raised from the Offering for working capital and general corporate purposes. All securities issued in the Offering are subject to a four month and one day hold period.

The securities issued pursuant to the Offering have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons in the absence of U.S. registration or an applicable exemption from the U.S. registration requirements. Neither the news release nor this report shall constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.

Item 5.2 Disclosure for Restructuring Transactions

Not applicable.

Item 6 Reliance on subsection 7.1(2) of National Instrument 51-102

The report is not being filed on a confidential basis.

Item 7 Omitted Information

No information has been omitted.

Item 8 Executive Officer

For further information, please contact DJ Bowen, Interim CEO & Director of the Company, at info@reflexmaterials.com.

Item 9 Date of Report

February 6, 2026