Mr. John LaGourgue reports

FIRST CANADIAN GRAPHITE INC CORPORATE UPDATE

First Canadian Graphite Inc. has granted stock options to its directors, officers and consultants as part of a long-term incentive program in accordance with the company's 2026 omnibus share incentive plan adopted at the annual and special general meeting held on July 7, 2026.

Grants under the 2026 omnibus share incentive plan

The company has approved the grant of 2.3 million stock options with a 10-year term at an exercise price of 50 cents, vesting as to 25 per cent every six months. The options granted shall have the required four-month-plus-one-day hold period.

The 2026 omnibus equity incentive plan's objective is to create an incentive compensation program that is aligned with the company's long-term objectives. Stock options and share units are granted in accordance with Policy 4.4 (Security Based Compensation) of the TSX Venture Exchange and the terms and conditions of the 2026 omnibus share incentive plan.

About First Canadian Graphite Inc.

First Canadian Graphite is engaged in the exploration of critical minerals and is committed to advancing its Lac Gueret South high-grade graphite property to support applications in energy transition and advanced technologies.

The Lac Gueret South project, formerly known as the Berkwood project, borders Nouveau Monde Graphite's Uatnan graphite project in the southwestern Manicouagan reservoir area, 234 kilometres north-northwest of Baie-Comeau in the Cote-Nord administrative region of Quebec on the Nitassinan (ancestral territory) of the Pessamit Innu. Lac Gueret South features surface-exposed graphite and a historical National Instrument 43-101-compliant resource at Zone 1 containing: 1.76 million tonnes indicated at 17 per cent graphitic carbon and 1.53 million tonnes inferred at 16.4 per cent Cg (NI 43-101 technical report mineral resource estimate). The property also features several other zones with surface graphite samples, offering strong exploration potential. In early 2026, the company increased its landholdings to 167 square kilometres, establishing one of the most extensive claim portfolios within the Lac Gueret graphite district. With substantial exploration opportunities remaining and total investments exceeding $10-million, First Canadian is actively engaged in expanding its resources and advancing toward the completion of its preliminary economic assessment. The company possesses sufficient financing to further advance this project throughout 2026.

Pessamit Innu First Nation engagement

First Canadian formally acknowledges that the Lac Gueret South project is situated within the Nitassinan (ancestral territory) of the Pessamit Innu First Nation. The company remains dedicated to cultivating respectful, transparent and co-operative relationships with local indigenous communities at every stage of the project's development.