Jpeg is lossy regardless of the setting. At 100, you just get the LEAST loss possible.
It's easy enough to test. Whip up a simple .bmp, compress that to a q=100 jpeg, then re-extract back to a .bmp. Use Gimp/Photoshop to do a "difference" of the two bitmaps, and you'll see the lossiness - it'll be much less noticeable than on a q=50 or q=1 conversion, but still be present.
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