BBA modelling identifies five potential grid benefits, while separate Triple Point preliminary analysis estimates up to $700 million in potential net savings over 10 years.

St. John's, Newfoundland--(Newsfile Corp. - October 1, 2026) - An independent technical assessment completed by BBA has identified several potential benefits associated with Triple Point Resources Ltd. ("Triple Point" or the "Company") proposed Fischells Salt Dome Power Generation Project on Newfoundland's west coast.

The compressed air energy storage (CAES) project is designed to use surplus renewable electricity to compress air and store it in underground salt caverns. When electricity is needed, the stored air can be released in a controlled process to generate power. This long-duration energy storage capability could help the system manage changes in renewable electricity supply and customer demand, contributing to a more flexible, reliable and resilient electricity system.

BBA's assessment evaluated how the project could support Newfoundland and Labrador's electricity system under a range of future operating conditions over the coming decade.

The study found that the Fischells project has the potential to:

• Increase operational flexibility across the provincial electricity system;
• Improve utilization of existing transmission and generation infrastructure;
• Reduce dependence on thermal generation resources;
• Improve transmission system efficiency;
• Strengthen electrical system performance in western Newfoundland; and
• Support the continued integration of clean and renewable energy resources.

The assessment concluded that strategically located energy storage and generation resources can provide benefits beyond electricity production alone by helping improve how power is delivered, managed and utilized across the provincial grid.

"The study demonstrated that the Fischells project has the potential to provide meaningful technical benefits to Newfoundland and Labrador's electricity system," said Dan Kell, Director, HVDC and Power Systems at BBA. "Our analysis identified opportunities to enhance system flexibility, improve efficiency, strengthen local grid performance, and reduce reliance on higher-emission generation sources under a range of future operating scenarios."

The BBA study focused solely on grid benefits. Separately, Triple Point has completed a preliminary, high-level analysis of the potential financial benefits associated with Fischells if it were deployed for this use case. That analysis estimates the project could generate approximately $500 million to $700 million in net cost savings across the provincial electricity system over 10 years, after accounting for assumed payments to procure capacity and grid services.

"BBA's modelling identifies the operational benefits that long-duration storage could bring to the provincial electricity system. Our separate preliminary analysis suggests those benefits could translate into more than half a billion in potential net cost savings over a decade," said Julie Lemieux, chief executive officer at Triple Point Resources. "Those figures require further validation, which is exactly why we believe a detailed value-for-money assessment with government and NL Hydro is the appropriate next step."

Reliable and flexible electricity is also important to economic growth. As demand increases through electrification, mining and industrial development, long-duration storage could help the province make better use of renewable generation and provide dependable capacity.

Triple Point is working with Siemens Energy on the technical development of the proposed CAES system. Siemens Energy's expertise in system design and performance is supporting the continued evaluation of the technology for the Fischells Salt Dome.

The first phase of the Fischells Salt Dome Power Generation Project is designed to provide 150 MW of dispatchable electricity for up to 10 hours a day. This long-duration energy storage facility would supply clean electricity when it's needed, with opportunities for future expansion.

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About BBA Consultants
BBA Consultants has been a trusted partner in the energy and natural resources sector for more than 45 years. With over 2,000 professionals in 30+ offices across Canada, the U.S. and Latin America, the firm delivers engineering, strategic advisory, environmental and field services. Our experts work closely with clients to quickly assess their needs and deliver innovative, practical and sustainable solutions. Recognized for its high-level expertise and collaborative approach, BBA combines technical excellence with strong field presence to rapidly mobilize the right experts wherever they are needed.

About Triple Point Resources Ltd.
Triple Point Resources owns the Fischells Salt Dome mineral rights and 126 sq. km of mineral licenses on the west coast of Newfoundland. The dome is strategically located beneath the Trans-Canada Highway, 10 km from the coast, and intersected by the Maritime Link. Triple Point is developing large-scale underground salt caverns to support energy integration, stabilize the grid, and build Canada's clean energy backbone on the East Coast.

Forward-Looking Statements

Certain information contained herein constitutes forward-looking information or statements ("forward looking statements") under applicable securities legislation and rules. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "will be", or variations of such words and phrases or statements that certain actions, events or results "will" occur. All statements within, other than statements of historical fact, are to be considered forward-looking. Such statements include that the Company's salt dome assets are suitable for and can be commercially utilized for hydrogen storage, that demand for such storage will in the future exist at commercially viable levels, that expected capacity can be achieved and that the Company will be successful in developing such project with the support of all stakeholders. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.

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