Aduro closes US$15.6M offering, files LIFE amendment

Aduro Clean Technologies Inc has closed its underwritten U.S. and Canadian public offering, raising gross proceeds of US$15,635,404, and filed an amended and restated offering document for its concurrent private placement. The capital from the public offering will fund the design, engineering, and construction of a first-of-a-kind demonstration-scale industrial plant (FOAK Plant), alongside ongoing research and development costs and general corporate purposes. Following the completion of the public offering, the company filed the Amended and Restated LIFE Offering Document in accordance with applicable securities laws.

The public offering consisted of 1,028,645 common shares priced at US$15.20 per share. Canaccord Genuity acted as the sole bookrunning manager and representative of the several underwriters for the transaction. The offering was made pursuant to an effective shelf registration statement on Form F-10 filed with the U.S. Securities and Exchange Commission. The related base shelf prospectus and prospectus supplement were filed with securities regulatory authorities in British Columbia and Ontario.

The company had previously announced a concurrent non-brokered private placement termed the LIFE Offering, targeting gross proceeds of up to US$7,169,810. The LIFE Offering consists of up to 471,698 common shares at a price of US$15.20 (C$21.20) per Offered Share. The closing of the public offering was not conditional on the closing of the LIFE Offering. The LIFE Offering is expected to close on or about June 19, 2026, subject to applicable securities and the policies of the Toronto Stock Exchange (TSX).

Public Offering Details

Component	Shares	Price Per Share	Gross Proceeds
Public Offering	1,028,645	US$15.20	US$15,635,404
LIFE Offering	471,698	US$15.20	US$7,169,810

The TSX has conditionally approved the LIFE Offering, with final approval subject to the completion of customary conditions. The company is relying on the exemption set forth in Section 602.1 of the TSX Company Manual in connection with the LIFE Offering. Directors and/or officers may participate in the LIFE Offering, which would constitute a "related party transaction" under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions. The company expects to rely on exemptions from formal valuation and minority shareholder approval requirements as the transaction value is not expected to exceed 25% of the company's market capitalization.

All foreign exchange calculations referenced in the announcements are based on the exchange rate posted by the Bank of Canada on June 9, 2026, of US$1 = C$1.3947. The Amended and Restated LIFE Offering Document is available under the company's profile on SEDAR+ at www.sedarplus.ca and on the company's website at www.adurocleantech.com .

Aduro Clean Technologies Inc announced that its Next Generation Process (NGP) Pilot Plant achieved 86% liquid hydrocarbon recovery during its latest operating campaign. The results, derived from a 47-hour continuous run using polypropylene recovered from waste plastics, demonstrate the process's ability to maintain steady-state conditions and produce high-quality feedstocks. This performance supports the company's progression toward longer-duration operations and informs the design of its planned first-of-a-kind (FOAK) Industrial Plant.

The campaign was conducted under Aduro's current 24/4 operating model, which entails 24-hour operation across a planned four-day window. Excluding startup and shutdown phases, the plant operated continuously for 47 hours. Steady-state conditions were achieved after approximately 12 hours and sustained for an additional 35 hours. During this period, the reactor, feed-handling, and product recovery systems operated together under controlled temperature, pressure, and recipe conditions specific to the Hydrochemolytic technology.

To evaluate process robustness, the team intentionally altered operating conditions during the campaign. Steady-state conditions were re-established within approximately two hours, providing data on process-control response and operator procedures. Chemical analysis of samples collected during the steady-state window showed product quality consistent with prior batch and R2 experimental campaigns using the same feedstock.

Key Performance Metrics

Metric	Result
Liquid hydrocarbon recovery	86%
C20-and-below hydrocarbons	85% of liquid product
Steady-state duration	35 hours
Total continuous operation	47 hours
Recovery time after changes	~2 hours

The liquid hydrocarbon recovered consisted primarily of compounds with carbon numbers of 20 or below, a range typically associated with naphtha cracker feedstocks. The data collected from this campaign is being utilized to refine operating parameters, evaluate scale-up decisions, and support the engineering planning required for next-stage scale-up activities.

Ofer Vicus, Chief Executive Officer at Aduro, stated that the results strengthen the company's confidence in its understanding of the process and help define parameters for the next stage of scale-up. David Weizenbach, Chief Operating Officer, noted that the campaign represents an important operating milestone, demonstrating the team's ability to manage the process through startup, stabilization, and controlled recovery.