Volt Carbon Technologies Inc. — Capital/Financing Update 2026

Feb 3, 2026

FORM 51-102F3
MATERIAL CHANGE REPORT

Item 1. Name and Address of Company
Volt Carbon Technologies Inc. (“Volt” or the “Company”)
Suite 117 – Arcuri Business Centre
70 Country Hills Landing NW
Calgary, Alberta T3K 2L2

Item 2. Date of Material Change
October 24, 2025

Item 3. New Release
A new release with respect to the material change was issued by the Company on October 24, 2025, and disseminated in Canada throughout the facilities of News File.

Item 4. Summary of Material Change
On October 24, 2025, the Company announced that on October 24, 2025, it closed the first tranche (the “First Tranche”) of the non-brokered private placement financing (the “Offering”) by issuing 6,000,000 units at a price of C$0.025 per unit for gross proceeds of C$150,000.

Item 5. Full Description of Material Change
On October 24, 2025, the Company announced that on October 24, 2025, it closed the first tranche of the private placement (the “Offering”) announced on October 22, 2025, by issuing an aggregate number of 6,000,000 units (“Units”) at a price of $0.025 per Unit for gross proceeds of $150,000 (the “First Tranche”).

Each Unit consists of one (1) common share in the capital of the Company and one (1) common share purchase warrant (each a “Warrant”). Each Warrant will entitle the holder to purchase one (1) additional common share in the capital of the Company (each a “Warrant Share”) at an exercise price of C$0.05 per Warrant Share until October 24, 2027. All securities issued as part of the Offering shall be subject to a four-month and one-day hold period. There were no Finder’s Fee associated with the Offering.

The Company intends to use the proceeds of the Offering to pay outstanding payables, to advance battery and mineral separation technology, and for working capital. Although the Company intends to use the proceeds of the Offering as described above, the actual use of proceeds may vary from the uses set forth above, depending on future operations or unforeseen events.

Item 6. Reliance of subsection 7.1(2) of National Instrument 51-102
Not applicable.

Item 7. Omitted Information
None.

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Item 8. Executive Officer
V-Bond Lee, Chairman of the Board, CEO and President Telephone: (289) 926-7049.

Item 9. Date of Report
February,03 2026