Mr. Jeffrey Beck reports

ARIANNE PHOSPHATE EXECUTES JOINT VENTURE FRAMEWORK AGREEMENT WITH TRAVERTINE TECHNOLOGIES

Arianne Phosphate Inc. has signed its joint venture framework agreement with Travertine Technologies Inc., which will serve as the template for its final shareholder agreement between the parties. As previously announced (see press release dated Nov. 6, 2025), Arianne partnered with Travertine, by way of a memorandum of understanding (MoU), for the production of purified phosphoric acid (PPA) by combining Travertine's proprietary process with Arianne's high-purity phosphate concentrate.

Arianne's phosphate concentrate is a perfect feedstock for the Travertine process given its high-purity, low-contaminant nature. Travertine's phosphate process can produce PPA from phosphate concentrate using recycled sulphuric acid, addressing both the significant cost and supply concerns that are now being felt in the sulphur and phosphate markets. As well, the process eliminates phosphogypsum waste, converting it into material that can be used in several other industries, resulting in a more environmentally friendly process and enhanced economics. The PPA produced from this process would meet the requirements necessary for LFP (lithium-iron-phosphate) batteries, as well as other technical grades used in pharmaceuticals, semiconductor production and food additives.

"Since the signing of our MoU, global events have led to significant issues in the sulphur market, greatly affecting many industries, including phosphate production," said Brian Ostroff, head of strategic and business initiatives at Arianne Phosphate. "Due to the nature of our phosphate concentrate, less sulphuric acid is required in the production of the phosphoric acid feedstock and then, when put through the Travertine process, much of the sulphuric acid can be recycled and used again in the process. If successful, the implications would be little to no reliance on sulphur. This would remove the requirement and cost of a sulphur-burning operation as part of our downstream PPA facility capex, along with the opex associated with ongoing sulphuric acid costs. Additionally, the process would bring about a large reduction in the environmental footprint of the downstream project and could produce a carbon-neutral/-negative byproduct. I would say that there is considerable interest on the part of would-be partners in our efforts."

Arianne and Travertine have been working together on pilot-scale testing at Travertine's current facilities and should be in a position to provide initial results within the next few weeks. Additionally, Arianne has also taken the step of optioning a facility in the Saguenay-Lac-Saint-Jean region for a demonstration plant for the joint venture to produce PPA at a larger scale (see press release dated April 21, 2026).

Lastly, Arianne has granted 200,000 stock options to Jeffrey Beck, chief executive officer of Arianne Phosphate, in lieu of any salary or cash remuneration for his employment with the company. These options entitle Mr. Beck to purchase one common share of the company until June 2, 2036, at a price of 42.5 cents per share, this being the closing price of the company's shares on the trading day of the grant. The options are subject to a vesting period and are also subject to regulatory approval.

About Arianne Phosphate Inc.

Arianne Phosphate is developing the Lac a Paul phosphate deposits located approximately 200 kilometres north of the Saguenay/Lac St. Jean area of Quebec, Canada. These deposits will produce a high-quality igneous apatite concentrate grading 39 per cent P2O5 (phosphorus pentoxide) with little or no contaminants (feasibility study released in 2013).

Qualified person

Raphael Gaudreault, Eng, qualified person by Regulation 43-101, has approved the technical information in this release. Mr. Gaudreault is also the company's chief operating officer.

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