Mr. John LaGourgue reports

FIRST CANADIAN GRAPHITE INC. ANNOUNCES $3M FINANCING

First Canadian Graphite Inc. intends to raise $3-million through the issuance of 6,666,667 units at 45 cents per unit. Each unit will consist of one common share and one-half warrant exercisable for two years at 75 cents, subject to an acceleration period wherein, should the company's shares trade on the TSX Venture Exchange at or above $1.10 per share for a period of 10 consecutive days, the company may, by written notice to the investors reduce the remaining exercise period applicable to the warrants to not less than 30 days from the date of such notice.

The gross proceeds from the financing will be for general working capital and the coming field stripping and diamond drilling program of an anticipated 20,000 metres. While the company intends to spend the proceeds from the financing as stated above, there may be circumstances where, for sound business reasons, funds may be reallocated at the discretion of the board.

Insiders may participate in the financing with full particulars of such participation to be included in the news release announcing the closing, when closed. A finder's fee may be payable in accordance with the policies of the TSX-V.

"After the encouraging results from our summer prospecting and airborne surveys, we're excited to begin testing the geology at Lac Gueret South with the drill bit," said John LaGourgue, president and chief executive officer of First Canadian Graphite. "Our work this past summer has outlined a large, high-grade graphite system at Zone 13, and this financing positions us to advance the project systematically, as planned. Field stripping will help us refine our targets, and our anticipated 20,000-metre diamond drilling program is designed to build our understanding of the deposit phase by phase as we work toward a first resource estimate."

The closing of the financing is subject to receipt of all necessary regulatory approvals, including the TSX-V. The securities issued under the financing will be subject to a hold period ending on the date that is four months plus one day following the date of issuance in accordance with applicable securities laws and, if applicable, will be subject to U.S. resale restrictions under U.S. securities laws.

Coming fall 2026 conference schedule

First Canadian Graphite also announces that president and chief executive officer John LaGourgue will be actively presenting and meeting with investors at several industry conferences across Canada through the end of the year to discuss the company's plans for the district-scale, high-grade graphite potential at Lac Gueret South, including the coming phase III program. Investors, analysts and stakeholders are invited to connect with management at the following events:

• Planet MicroCap Showcase (Toronto): Oct. 27 to Oct. 29, 2026;
• XPLOR (Montreal): Nov. 2 to Nov. 5, 2026;
• Mi3 Dinner (Laval): Nov. 2, 2026;
• Mi3 Lunch (Montreal): Nov. 3, 2026;
• Quebec Mines + Energie (Quebec City): Nov. 16 to Nov. 19, 2026.

Mr. LaGourgue and members of the First Canadian Graphite leadership team will attend the scheduled events and welcome opportunities for one-on-one meetings.

The company's updated corporate presentation is available on its website.

Grant of performance share units

The company announces the grant of an aggregate of 1,672,555 performance share units (PSUs) to executives as part of a short-term and long-term incentive program as determined by the board in accordance with the company's 2026 omnibus share incentive plan adopted at the annual general meeting held July 7, 2026. Each vested PSU can be redeemed for one fully paid and non-assessable common share of the company issued from treasury. The PSUs granted will vest upon the achievement of certain key performance indicators as determined by the board, vesting not before Oct. 13, 2027. The 2026 omnibus share incentive plan's objective is to create an incentive compensation program that is aligned with the company's long-term objectives.

About First Canadian Graphite Inc.

First Canadian Graphite is engaged in the exploration of critical minerals and is committed to advancing its Lac Gueret South high-grade graphite property to support applications in energy transition and advanced technologies.

The Lac Gueret South project (formerly the Berkwood project) borders Nouveau Monde Graphite's Uatnan graphite project in the southwest Manicouagan reservoir area, approximately 234 kilometres north-northwest of Baie-Comeau in Quebec's Cote-Nord region, on the Nitassinan (ancestral territory) of the Pessamit Innu.

Recent work at Zone 13 has outlined a significant new high-grade graphite-bearing anomaly with a confirmed strike length of 3.3 kilometres and widths exceeding 150 metres. Prospecting on this discovery has returned surface and near-surface high-grade graphite, with 46 samples assaying up to 43.4 per cent graphitic carbon (Cg). Refer to the company's press releases dated July 30, 2026, and Aug. 20, 2026.

The company's land claims and optioned ground now exceed 200 square kilometres, establishing one of the most extensive claim portfolios in the Lac Gueret graphite district. With more than $10-million invested to date and significant exploration upside remaining, First Canadian Graphite is focused on expanding resources and advancing the project toward a preliminary economic assessment (PEA). The company has sufficient financing to continue advancing Lac Gueret South through 2026.

We seek Safe Harbor.