Ms. Sasha Jacob reports

CEYLON GRAPHITE ENTERS INTO DISTRIBUTION AGREEMENT WITH ADVANCED PERFORMANCE MATERIALS

Ceylon Graphite Corp. has entered into a distribution agreement dated Aug. 1, 2023, with Advanced Performance Materials LLC (APM), a materials and chemical technology specialist company.

"Ceylon's graphite has performance characteristics that exceed those of other graphite suppliers", said Jay Mondal, APM's chief technology officer. "This is tremendously beneficial to our customers ranging from battery manufacturers to defence industry applications. In addition, Ceylon's graphite has a very low environmental footprint given its very high natural purity, which is increasingly important to many of our customers. We are excited to supply Ceylon's graphite to the U.S. market and collaborate on a range of value-added products."

APM expects the range of products using Ceylon graphite to include energy storage, nuclear energy, lubricant, coating, flame retardant, and engineered products and materials. The companies have already begun to exchange customer specifications and quotations.

The distribution agreement provides APM with preferred pricing and guaranteed supply if certain volume thresholds are maintained. The distribution agreement is not exclusive and does not restrict Ceylon from any other sales or agreements related to its graphite.

"We are pleased to be working with APM in pursuing many potential customer relationships," said Sasha Jacob, Ceylon chief executive officer. "As the Ceylon graphite material and its performance becomes more widely known, we are seeing a consistent growth in interest from customers in a wide range of sectors seeking to take advantage of the benefits of our high-carbon, low-environmental footprint natural vein graphite."

About Ceylon Graphite Corp.

Ceylon is a public company listed on the TSX Venture Exchange that is in the business of mining for graphite and developing and commercializing innovative graphene and graphite applications and products.

We seek Safe Harbor.