Mr. Anthony Huston reports

GRAPHITE ONE RECEIVES FURTHER INDICATION OF SUPPORT FOR UP TO US$570 MILLION FUNDING FROM U.S. EXPORT-IMPORT BANK AND ENGAGES EUROPEAN MARKETING FIRM

The Export-Import Bank of the United States (EXIM) has extended a non-binding letter of interest (LOI) to Graphite One Inc. for up to $570-million (U.S.) in financing to advance the development of G1's Graphite Creek mine development in Alaska. Combined with EXIM's $325-million (U.S.) LOI announced in October, 2024, for the company's planned advanced graphite materials facility in Ohio, total EXIM indications of support for Graphite One's U.S. supply chain strategy now stand at $895-million (U.S.).

The LOI states: "Based on the preliminary information submitted, EXIM would be able to consider financing up to $570-million of the U.S. export contract. Please note that based on the OECD arrangement for Export Credits and EXIM Bank guidelines, this transaction is eligible for a maximum repayment term of 10 years. We trust that this letter of interest, coupled with the quality of U.S. products and services, will make a compelling case for U.S. procurement."

"EXIM's extension of its LOI to our company validates Graphite One's strategy to develop a 100-per-cent U.S.-based advanced graphite materials supply chain," said Anthony Huston, president and chief executive officer of Graphite One. "The announcement follows the recent acceptance of our Graphite Creek project as a 'covered project' onto the federal FAST-41 permitting dashboard and, along with G1's two Department of Defense grants under the Defense Production Act and from the Defense Logistics Agency, underscores the U.S. government's keen understanding of the urgency to end the United States 100-per-cent dependence of foreign sources of graphite supply."

Against the backdrop of China's ongoing dominance over global graphite production, the EXIM LOI further indicates that this "transaction may be eligible for special consideration under Section 402 of EXIM's 2019 reauthorization (PL 116-94), which directs EXIM to take steps to mitigate the competitive impact of export support provided by the People's Republic of China and other covered countries for opportunities such as this one and/or to advance the comparative leadership of the United States in the Transformational Export Areas."

G1 expects to submit a formal application to EXIM under both LOIs in 2026. Upon receipt, EXIM will conduct due diligence and underwriting. Any final commitment is subject to EXIM's eligibility, credit, and approval requirements and satisfaction of terms and conditions. All final commitments must comply with EXIM policies as well as program, legal and eligibility requirements.

Engages European marketing firm

As part of its continuing strategy to raise the profile of Graphite One and its Graphite One project to European investors, Graphite One has entered into an agreement effective immediately, with MCS Market Communication Service GmbH (MCS), an on-line marketing and investor relations firm based in Westfalen, Germany, to provide marketing and investor relations services to enhance visibility with the European institutional and retail investment community.

Anthony Huston, president and chief executive officer of Graphite One, quotes, "We are excited to partner with MCS to heighten market and brand awareness for Graphite One and to broaden the company's reach within the European investment community."

Under the terms of the agreement, MCS will provide content creation, distribution and advertising services focused on the European market for an aggregate marketing budget of 800,000 euros for a six-month period, subject to early cancellation notice after 60 days from the effective date of the agreement. Prior to the end of the service period, the company may elect to continue on a month-to-month basis until terminated by either party. MCS has agreed to comply with all applicable securities laws and the policies of the TSX Venture Exchange in providing its services.

There are no performance factors impacting compensation in the agreement and MCS will not receive common shares or options of the company as compensation.

MCS is arm's length to the company and currently does not own, directly or indirectly, any common shares of the company, nor does it have any right or intent to acquire such an interest. The engagement of MCS remains subject to TSX-V approval and these disclosures are made in accordance with the requirements of TSX-V Policy 3.4 -- Investor Relations, Promotional and Market-Making Activities.

Graphite One's supply chain strategy

The project is planned as an integrated business operation to produce lithium-ion battery anode materials and other graphite products for the U.S. domestic market on a commercial scale using primarily natural graphite from Alaska. The project combines the operation of an advanced graphite manufacturing facility to be located in Warren, Ohio, subject to financing, with the supply of natural flake graphite from the company's proposed Graphite Creek mine in Alaska. The resources associated with the company's Alaska state mining claims were cited by the U.S. Geological Survey in January, 2022, as America's largest natural graphite deposit, and in 2023, "as among the largest in the world." This precedes the FS-verified deposit amount increase. The company entered into a non-binding letter of interest with the EXIM Bank in September, 2024, for a potential $325-million loan to finance the Ohio manufacturing facility.

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 active materials primarily for the lithium-ion electric vehicle battery and energy storage markets.

We seek Safe Harbor.