Mr. Bennett Kurtz reports

FIRST PHOSPHATE REPORTS ANNUAL MEETING RESULTS, SUBSTANTIAL INCREASE IN SHAREHOLDER BASE AND ADOPTION OF ADVANCE NOTICE POLICY

First Phosphate Corp. has released the voting results for the company's annual general and special meeting of shareholders held on Aug. 28, 2026.

Voting results

Detailed voting results of the election of the company's board of directors are set out in the attached table.

All nominees, as set forth in the company's management information circular dated July 29, 2026, were elected as directors of First Phosphate at the meeting.

At the meeting, shareholders also approved: (1) the number of directors to be fixed at five, (2) the appointment of Davidson & Company LLP as auditor of the company for the ensuing year and authorizing the board to fix the remuneration of the auditor, (3) the company's advance notice policy; and (4) the reapproval of the company's omnibus equity incentive plan, all as more particularly described in the circular.

For further information regarding the matters considered at the meeting, readers are encouraged to review the circular, a copy of which is available under the profile for the company on SEDAR+.

Increase in shareholder base

The company is pleased to announce that its shareholders on record for the 2026 meeting increased by 861 per cent over the 2025 meeting. The total registered shareholders reported are based on the registrar of the company's transfer agent plus beneficial shareholders reported by Broadridge.

The company believes that this increase in shareholders represents a positive sign of maturation in the company's corporate development, one that can be attributed to successful financings, management's commitment to results, and a broader understanding and appreciation of the company's vision, initiatives and opportunities, among both retail and institutional investors.

Advance notice policy

The board has, effective immediately, adopted the policy which, among other things, and subject to certain exceptions, sets forth a procedure requiring advance notice to the company by any shareholder who intends to nominate any person for election as director of the company at a meeting of shareholders at which directors are to be elected. For additional details, please consult the full text of the policy included in the circular.

The board believes that the policy provides a clear and transparent process for all shareholders to follow, if they intend to nominate directors, by providing a reasonable time frame for shareholders to notify the company of their intention to nominate directors and requiring shareholders to disclose information concerning proposed nominees that is mandated by applicable securities laws.

The policy enables the board to evaluate the proposed nominees' qualifications and suitability as directors and respond as appropriate in the best interests of the company.

About First Phosphate Corp.

First Phosphate is a mineral exploration and development and clean technology company dedicated to building and reshoring a vertically integrated mine-to-market supply chain for the production of LFP batteries in North America. Target markets include energy storage, data centres, robotics, mobility and national security. First Phosphate's flagship Begin-Lamarche property, located in Saguenay-Lac-Saint-Jean, Que., Canada, represents a rare North American igneous phosphate resource producing high-purity phosphate characterized by very low levels of impurities.

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