ANTWERP, Belgium, April 6, 2026 /CNW/ - SCR-Sibelco NV ("Sibelco") issues this news release pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues and National Instrument 62-104 – Take Over Bids and Issuer Bids in connection with a change in material fact contained in Sibelco's early warning report filed on November 18, 2024 which relates to common shares ("Avalon Shares") of Avalon Advanced Materials Inc. ("Avalon").

On April 2, 2026, Sibelco and Avalon completed a strategic reorganization of their Separation Rapids joint venture pursuant to which (i) Sibelco acquired Avalon's 40% interest in Separation Rapids Ltd. ("SRL"), resulting in 100% being owned by Sibelco, and (ii) Avalon acquired ownership over the Lilypad property. As part of the transaction, the amended and restated secured convertible debenture with a principal amount of $6,500,000, previously issued by Avalon to Sibelco on November 14, 2024, was satisfied in full and the related share pledge agreement over shares of SRL was terminated. No cash consideration was exchanged between Sibelco and Avalon. In connection with the transaction the investor rights agreement entered into by Sibelco and Avalon on June 14, 2023 was terminated.

Immediately prior to, and immediately after, the closing of the transaction, Sibelco had beneficial ownership over 111,486,486 Avalon Shares, representing approximately 13.35% of the issued and outstanding Avalon Shares on a non-diluted basis.

Sibelco holds Avalon Shares for investment purposes. Sibelco intends to review its investment in Avalon on a continuing basis and may, from time to time and at any time subject to compliance with applicable securities laws, and depending on market and other conditions, acquire or dispose of equity, debt or other securities of Avalon through open market transactions, private placements and other privately negotiated transactions, or otherwise, in each case, depending on a number of factors, including general market and economic conditions and other factors and conditions Sibelco deems appropriate.

About SCR-Sibelco NV

Sibelco is a Belgian-based global leader in material solutions. Sibelco mines, processes and sells specialty industrial minerals – particularly silica, clays, felspathic minerals and olivine – and is a leader in glass recycling. Sibelco's solutions serve a diverse range of industries including semi-conductors, solar photovoltaic, glass, ceramics, construction, coatings, polymers and water purification. The Sibelco Group has production facilities in more than 30 countries and a team of more than 5,000 people worldwide.

Sibelco has its global headquarters at Plantin en Moretuslei 1A, 2018 Antwerpen, Belgium.

For further information, or to obtain a copy of the early warning report filed by Sibelco in accordance with applicable securities laws, please contact:

Sofie EyckermanNAM Communicationspress@sibelco.comTel + 32 (0) 3 393 10 28Tel + 32 (0) 3 393 10 10

SOURCE SCR-Sibelco NV

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