Zentek Ltd. announced the completion of a new study highlighting the potential significant energy, emission and cost savings for commercial buildings adopting ZenGUARDTM Enhanced Air Filters. As previously announced on February 6, 2023, and September 6, 2023, independent testing by the National Research Council of Canada ("NRC") and LMS Technologies Inc. ("LMS") demonstrated that ZenGUARD?? Enhanced Air Filters can significantly reduce the concentration of infectious aerosols indoors without adversely affecting flow and energy consumption compared to using equivalent non-coated, MERV-rated HVAC filters.

Using the test results from the NRC and LMS, the study determined the amount of outside air required to be brought into a typical office space to achieve an equivalent risk reduction as using a ZenGUARDTM Enhanced Air Filter instead of a regular MERV 9 filter. Key Findings: For a regular MERV 9 filter to achieve a reduction in infection risk consistent with a ZenGUARDTM Enhanced air Filter, the percentage of outside air would need to be increased from 20% to 53% By using a ZenGUARDTM enhanced Air Filter to control infectious aerosols instead of increasing the percentage of outside air to achieve a similar risk reduction, the Company estimates that a typical office space of 10,000 square feet with 75 occupants can reduce HVAC energy consumption by approximately 62% This reduction in energy consumption equates to monetary savings of approximately $12,400 per year and avoid of 32 tonnes of CO2 emissions per year for each office space1 (the CO2 emissions equivalent of driving an internal combustion engine car approximately 188,000 kilometres). The key assumptions underlying the Company's analysis for the Federal Government are as follows: 5,511 Federal government office buildings (cal calculated using 413,334 employees, 75 people per office and 10,000 square feet per office).

All federal government buildings where these employees work use MERV 9 filters currently and convert to ZenGUARD??-enhanced MERV 9 filters. Space prototype assumptions consistent with those outlined in Study Background section above The above analysis is disclosed for illustrative purposes only, and there can be no assurance that (i) the assumptions used by the Company in conducting its analysis are accurate and correct, (ii) the above analysis is or will be accurate or consistent with any third-party analysis, (iii) any third-party, including but not limited to, any governmental branch or office, awards or offers any contract.