J-Star Holding Co., Ltd. (NASDAQ:YMAT) ("J-Star" or the "Company"), an innovator in advanced composite manufacturing, today announced that shareholders approved key capital restructuring initiatives at the Company’s extraordinary general meeting (the "Meeting") held on October 29, 2026. The capital restructuring initiatives approved by our shareholders represent a deliberate and crucial step in our broader strategy. By moderating insider ownership concentration to enhance market liquidity, and by building a robust financial foundation following our debt-to-equity conversion, we are optimizing our capital structure pending the final approval of Nasdaq. These proactive measures are specifically designed to support our aggressive strategic growth, advanced unmanned aerial vehicle (UAV) carbon fiber frame manufacturing and commercialization roadmap in the United States.

At the Meeting, among the proposals approved was authorization for a 1-for-10 share consolidation, which will become effective subject to the receipt of all necessary regulatory clearances. The Company will announce the effective date in a subsequent press release.

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