Mr. Anthony Huston reports

GRAPHITE ONE EXTENDS RESTRICTED SHARE UNIT VESTING DATES

The vesting date of certain restricted share units (RSUs) that were granted to employees and directors of Graphite One Inc. on Dec. 27, 2022, and Jan. 19, 2023, pursuant to the terms of the omnibus plan are being extended.

For 729,605 RSUs that are to vest on Dec. 27, 2023, and for all 659,831 RSUs that are to vest on Jan. 19, 2024, the company and the grantees have agreed to extend such vesting date to June 14, 2024. The extension of the RSUs vesting date is subject to approval by the TSX Venture Exchange. Such extensions are not expected to delay the award of the company's 2024 equity grants.

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 60 kilometres 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 to be located in the contiguous United States. The company intends to make a production decision on the project upon the completion of a feasibility study.

We seek Safe Harbor.