Mr. Chris Castle reports

CHATHAM ROCK AND WETSTONE GLOBAL AMEND INVESTMENT AGREEMENT FOR CHATHAM RISE PROJECT FINANCING

Chatham Rock Phosphate Ltd., its wholly owned subsidiary Chatham Rock Phosphate (NZ) Ltd. (CRPNZ), Wetstone Ltd. (Wetstone NZ) and Wetstone Global Inc. have agreed to amend the definitive investment agreement dated May 6, 2026 (as announced by press release dated May 7, 2026). Under the terms of the written amendment agreement dated July 11, 2026 (New Zealand time), the parties agreed to increase the maximum percentage of the outstanding shares of CRPNZ the limited recourse loan balance (plus accrued interest) from Wetstone Global can be converted into from 70 per cent to 75 per cent, as well as various consequential amendments. All other terms of the investment agreement remain in full force and effect.

As disclosed in the company's press release dated June 23, 2026, as a result of the company's decision to pursue delisting from the TSX Venture Exchange, the company has asked the TSX-V not to continue with its review of the investment agreement. The transaction will be subject to the regulatory regime of the NZX, or such other stock exchange as the company is listed on following delisting from the TSX-V.

About Chatham Rock Phosphate Ltd.

Chatham Rock aims to be the premier supplier of direct application phosphate to the New Zealand and global agricultural sector. The company is committed to supporting sustainable farming and advancing the benefits of direct application fertilizer for long-term soil and environmental health.

We seek Safe Harbor.