Hillcrest Energy Technologies Expands Executive Team

August 31, 2021

CSE: HEAT

Jamie Hogue, COO and Raj Clair, CFO Tapped to Help Drive Organizational Performance as Commercialization /Proof of Concept Testing Efforts Heat Up

VANCOUVER, B.C., August 31, 2021 – Hillcrest Energy Technologies (CSE: HEAT) (OTCQB: HLRTF) (FRA: 7HIA.F) (“Hillcrest” or the “Company”), a clean tech innovation and e-mobility development company, today announced the additions of Jamie Hogue as Chief Operating Officer and Raj Clair as Chief Financial Officer. Both will join Hillcrest’s executive team, contributing strategic support to the Company’s evolving growth strategy and vision.

Ms. Hogue brings more than 20 years of progressive policy leadership, economic analysis and organizational development experience to Hillcrest. As Hillcrest COO, Jamie will oversee operations and management across the Company, working closely with the CEO to ensure the proper practices and processes are in place to set actionable strategies and support business planning and goal delivery. Most recently, she served as the Director of Operations for Arizona State University’s Ten Across initiative, a compelling observatory study of economic, social and climate change and associated implications for the southern United States. Throughout her career, Jamie has built diversified expertise in energy, water, natural resource and sustainability policy and practice, and will lead Hillcrest’s ESG initiatives (environmental, social and governance), including commitments to diversity, inclusion and sustainability.

Ms. Clair takes over as CFO from Aaron Triplett who is departing, effective August 27, to pursue another opportunity.  The Board and staff thank Mr. Triplett for dedication to the Company and wish him well in his next endeavor.

As CFO, Ms. Clair will be responsible for overseeing all finance related activities including financial reporting, internal controls, budgeting and business planning. Raj joins Hillcrest with more than 11 years of experience in finance. Ms. Clair began her career at Deloitte and has since served in advanced finance and account roles in the energy and resources sector. A highly collaborative team leader and builder, Ms. Clair will also help support R&D and Operations efforts at Hillcrest.

“We are thrilled to welcome Raj and Jamie to the Hillcrest senior management team,” said Hillcrest Energy Technologies CEO, Don Currie.  “They both bring solid renewable energy, sustainability and capital markets experience, matched with equally impressive collaborative leadership qualities that unite cross-functional teams and drive organizational transformation.  As we expand our tech-driven clean energy pursuits and benefit from an increased market cap, having the right people at the helm to lead operations and finance is essential.”

The Company has also granted incentive stock options to certain advisors, consultants and employees of the Company to purchase up to 1,700,000 common shares in the capital of the Company, pursuant to the share option plan of the Company.  The options are exercisable on or before August 30, 2026 at an exercise price of $0.20 per share.

About Hillcrest Energy Technologies

Hillcrest Energy Technologies is a clean tech innovation company developing transformative energy conversion devices and control systems for next-generation powertrains. The Company is transitioning from the production of fossil fuels from its West Hazel asset in Saskatchewan, to clean energy technologies that help unlock efficiencies and maximize performance of electric systems including electric vehicles, propulsion systems and renewable energy generation + storage. From concept to commercialization, Hillcrest is investing in the development of energy solutions that will power the future. Hillcrest is publicly traded on the CSE under the symbol “HEAT”, on the OTCQB Venture Market as “HLRTF” and the Frankfurt Stock Exchange as “7HIA.F”.

ON BEHALF OF THE BOARD

Donald Currie

Chief Executive Officer and Director

CONTACT INFORMATION

Don Currie

Tel: +1-604-609-0006

Toll-free: 1-855-609-0006

dcurrie@hillcrestenergy.tech

www.hillcrestenergy.tech

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAS REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Cautionary Statement Regarding “Forward-Looking” Information

Some of the statements contained in this news release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words or phrases, or statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved.  This forward-looking information is provided as of the date of this news release.  The forward-looking information reflects our current expectations and assumptions, and is subject to a number of known and unknown risks, uncertainties and other factors, which may cause actual results, performance, or achievements to be materially different from any anticipated future results, performance or expectations expressed or implied by the forward looking information.   No assurance can be given that these assumptions will prove correct.  Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company’s control. Investors are advised to consider the risk factors under the heading “Risks and Uncertainties” in the Company’s MD&A for the year ended December 31, 2020 available at www.sedar.com for a discussion of the factors that could cause the Company’s actual results, performance and achievements to be materially different from any anticipated future results, performance, or achievements expressed or implied by the forward looking information.. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.

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