Mr. Anthony Huston reports

GRAPHITE ONE ANNOUNCES AGM RESULTS AND GRANT OF LONG-TERM INCENTIVE AWARDS

Graphite One Inc. has released the results of voting at its annual general and special meeting of shareholders, which was held on June 26, 2026, in Vancouver, B.C. All matters submitted to the shareholders for approval as set out in the company's notice of meeting and information circular dated May 15, 2026, which is available on SEDAR+ under the company's profile, were approved by the requisite majority of votes cast at the meeting, including:

• Electing all nominees to the board of directors of the company, including Anthony Huston, Douglas Smith, Scott Packman, Bedi A. Singh, Brian Budd and Patrick Smith;
• Reappointing PricewaterhouseCoopers LLP, chartered professional accountants, as the auditor for the ensuing year and authorizing the directors to determine the auditor's compensation;
• Ratifying and approving the company's amended 20-per-cent fixed limit omnibus incentive plan;
• By special resolution, granting the board discretionary authority to effect a consolidation of the company's common shares on the basis of one postconsolidation share for up to 10 preconsolidation shares and the timing of any consolidation will be determined by the board prior to the company's next annual general meeting.

The board currently intends to implement a consolidation only if it determines to pursue a listing on the New York Stock Exchange or Nasdaq Stock Market, and that a consolidation is necessary or advisable to satisfy the applicable listing requirements, including minimum share price criteria. The company will not proceed with a consolidation if it does not pursue such a listing or if it can satisfy the applicable listing requirements without one. Any consolidation remains subject to acceptance by the TSX Venture Exchange, and the company will announce the applicable ratio, timing and effective date in advance. Further details are set out in the circular.

Management of the company would like to thank the company's shareholders for their continued support.

"We are grateful for the continued support of our shareholders as evidenced by the strong approval of all matters at today's annual general and special meeting. The ratification of our omnibus plan and the authority to effect a share consolidation, if and when appropriate, provide the company with valuable tools to support our growth. The long-term incentive awards granted today align the interests of our team with those of shareholders as we advance the Graphite Creek project and our planned Ohio anode materials facility toward production," stated Anthony Huston, chief executive officer, president and director.

Grant of long-term incentive (LTI) awards

The company announces that the board has approved a grant of 2,809,978 restricted share units (RSUs) and 2,809,978 performance share units (PSUs) to senior management and one million RSUs to a consultant pursuant to the terms of the company's omnibus plan. The grant of the management LTI awards were previously disclosed in the company's May 19, 2026, news release and was subject to receipt of the approval of shareholders to increase the number of common shares available under the omnibus plan and the approval from the TSX Venture Exchange.

Each RSU will vest and convert into one common share of the company on the following vesting dates:

• One-third vest on June 26, 2027;
• One-third vest on May 19, 2028;
• One-third vest on May 19, 2029.

All of the consultant RSUs vest on June 26, 2027.

Each PSU will convert into one common share of the company on the May 19, 2029, vest date subject to the achievement of certain corporate share price performance criteria. Further details regarding the omnibus plan are set out in the circular, which is available on the company's website or on SEDAR+.

Following the above-noted grants, the company has 208,967,736 common shares issued and outstanding, and has 8,207,984 RSUs, 7,683,250 PSUs and 10,705,738 stock options issued and outstanding under the company's omnibus plan.

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

We seek Safe Harbor.