Microwave Chemical Co., Ltd. (hereinafter, "our company") has signed a Memorandum of Understanding (MOU) with PMET Resources Inc. (hereinafter, "PMET"), a Canadian lithium resource development company, and Mitsui & Co., Ltd. (hereinafter, "Mitsui & Co."). This MOU concerns the application of our company's proprietary "microwave calcination*1 technology" (hereinafter, "this technology") to spodumene ore, a raw material for lithium mined from a mine developed by PMET, and joint studies for future commercialization. This matter was announced by PMET on June 17, 2026 (local time)*2. [Background] Our company has been jointly researching, developing, and conducting pilot demonstrations of this technology with Mitsui & Co., verifying its effectiveness*3. With the participation of PMET, a mine development company, and the commencement of technical evaluations targeting their ore with a view to future business development, we are transitioning from the research and development phase to the business examination phase focused on commercialization. [Overview] The main objective of this collaboration is to conduct pilot plant tests using this technology on lithium resources such as PMET's "Shaakichiuwaanaan Project*4" at our Osaka office, and to evaluate the technical and commercial feasibility. The main roles of each company are as follows: PMET: Providing spodumene ore samples from this project, etc., and cooperating in the application of this technology to intermediate refining processes for the production of "high-value-added lithium intermediate materials" at the site. Mitsui & Co.: Evaluating pilot tests utilizing their global project development and business development capabilities, and supporting discussions for future commercialization. Our company: Leading pilot plant tests and technical management using our own technology, and leading conceptual design and equipment specification development for the calcination process in future commercial plants. [Future Outlook] We