Mr. Don Baxter reports

APPLIED GRAPHITE TECHNOLOGIES CORPORATION ANNOUNCES RESUMPTION OF TRADING

Applied Graphite Technologies Corp. (formerly, Audrey Capital Corp.) has received final acceptance of the TSX Venture Exchange in respect of the corporation's qualifying transaction (as defined in the policies of the TSX-V), and will resume trading on the TSX-V at market open tomorrow, March 12, 2024, under the symbol AGT. As indicated in the bulletin issued by the TSX-V relating to its acceptance of the qualifying transaction, the corporation will be classified as a Tier 2 mining company.

For further information, please refer to the corporation's profile on SEDAR+ and the corporation's news release dated March 8, 2024, announcing the completion of its qualifying transaction.

Don Baxter, chief executive officer of Applied Graphite, said: "We are excited to be the next publicly traded graphite company as the world's [original equipment manufacturers] recognize graphite as a critical supply material for the manufacture of lithium-ion batteries. AGT has an experienced team, not only for graphite, but for battery-ready graphite production. AGT is well positioned to capitalize on the massive demand for battery-ready graphite in the very near term."

About Applied Graphite Technologies Corp.

Applied Graphite owns a 90-per-cent ownership interest in C-Tech Ceylon Pvt. Ltd., a corporation incorporated pursuant to the laws of Sri Lanka, which in turn owns a 100-per-cent ownership interest in the Dodangaslanda graphite properties in Sri Lanka. The Dodangaslanda properties are on private land in the heart of the vein graphite district, with historical workings and vein graphite outcrops. Vein graphite is naturally high grade (greater than 95 per cent carbon content in the ground) and does not require primary processing. Testing of vein graphite in lithium-ion battery anodes has shown very high capacities, performing better than synthetic graphite. Natural vein graphite has a far superior environmental, social and governance footprint than synthetic and is cheaper without compromising performance.

The technical information in this news release has been prepared by Don Baxter, PEng, a qualified person as defined in National Instrument 43-101 (Standards of Disclosure for Mineral Projects).

We seek Safe Harbor.