Mr. Anthony Huston reports

GRAPHITE ONE ENTERS INTO TEAMING AGREEMENT WITH VORBECK MATERIALS CORP.

Graphite One Inc. has entered into a teaming agreement with Vorbeck Materials Corp. of Jessup, Md., a global leader in graphene production and advanced graphene applications.

"We are excited to team with Vorbeck Materials, a recognized leader in advanced graphite and graphene applications," said Anthony Huston, founder and chief executive officer of Graphite One. "While the majority of Graphite One's production will serve the electric vehicle battery and energy storage systems markets, we understand that the versatility of graphite and graphene offers opportunities to develop entirely new markets in both the commercial and defence sectors. Those transformative applications are what we intend to pursue with Vorbeck."

"Vorbeck Materials is excited to team with Graphite One to meet unique defence and commercial requirements with Graphite One's high-grade, U.S.-sourced graphite for advanced graphite and graphene applications," said John Lettow, CEO and co-founder or Vorbeck Materials. "There are significant emergent requirements that will benefit from high-grade U.S.-sourced graphite and a team of engineers and scientists with deep experience in both industrial and technical formulations that leverage the unique mechanical and electrical properties of high-quality graphite and graphene. Teaming with Graphite One will provide best-in-class capability and performance for the most demanding customers."

Terms of the teaming agreement were not disclosed.

Graphite One's supply chain strategy

With the United States currently 100 per cent import dependent for natural graphite, Graphite One is planning to develop a complete U.S.-based, advanced graphite supply chain solution anchored by the Graphite Creek resource. The Graphite One project plan includes an advanced graphite material and battery anode manufacturing plant expected to be sited in Washington State integrated with the development of the property. The plan includes a recycling facility to reclaim graphite and the other battery materials, to be co-located at the Washington State site, the third link in Graphite One's circular economy strategy.

About Graphite One Inc.

Graphite One continues to develop its Graphite One project to become an American producer of high-grade anode materials that is integrated with a domestic graphite resource. The project is proposed as a vertically integrated enterprise to mine, process and manufacture anode materials primarily for the lithium-ion electric vehicle battery market. As set forth in the company's 2022 prefeasibility study, graphite mineralization mined from the company's Graphite Creek property, situated on the Seward peninsula about 35 miles north of Nome, Alaska, would be processed into concentrate at an adjacent processing plant. Natural and artificial graphite anode materials and other value-added graphite products would be manufactured from the concentrate and other materials at the company's proposed advanced graphite materials manufacturing facility expected to be located in Washington State. The company intends to make a production decision on the project upon the completion of a feasibility study.

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