Mr. Anthony Huston reports

GRAPHITE ONE COMMENDS ANNOUNCEMENT OF MEMORANDUM OF UNDERSTANDING (MOU) BETWEEN PERMITTING COUNCIL AND STATE OF ALASKA TO ADVANCE PERMITTING OF CRITICAL INFRASTRUCTURE PROJECTS

Graphite One Inc. has noted the signing of a memorandum of understanding (MOU) between the Federal Permitting Improvement Steering Council and the State of Alaska to provide federal permitting assistance via the permitting council's FAST-41 program in an effort to streamline the permitting process for key infrastructure projects across the State of Alaska.

"As the only project listed on both the federal FAST-41 and Alaska state permitting dashboards, Graphite One is delighted to see this new MOU between the State of Alaska and the permitting council," said Anthony Huston, chief executive officer of Graphite One. "This is yet another example of how Alaska leads the way in critical mineral development, bringing much-needed co-ordination between state and federal permitting efforts."

As announced during a press conference with permitting council executive director Emily Domenech and Alaska Governor Mike Dunleavy at the governor's Anchorage office on Aug. 27, 2025, pursuant to the MOU, for projects in the State of Alaska, the permitting council will, among other things, provide continuing support, engage regularly with both project sponsors and the state, and co-ordinate and consult with the state, and specifically the Office of Project Management and Permitting within the Alaska Department of Natural Resources, to facilitate a timely and efficient permitting process.

The State of Alaska will co-ordinate with the permitting council executive director to assess potential FAST-41 project eligibility of projects in the state's portfolio and encourage project sponsors to pursue FAST-41 coverage where practicable, among other things. Regular meetings with the permitting council's executive director will be used to develop best practices and assess future project potential.

The Fast-41 federal permitting dashboard and related announcements can be accessed on-line.

About Graphite One Inc.

Graphite One continues to develop its Graphite One project, with the goal of becoming 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 and process natural graphite, and to manufacture artificial and natural graphite anode materials primarily for the lithium-ion electric vehicle battery and energy storage markets.

We seek Safe Harbor.