Corporate Matters - Update

Tuesday, December 23, 2025 3:50 PM PST

(via TheNewswire)

December 23, 2025 – TheNewswire - (Vancouver) First Canadian Graphite Inc. (the “Company”) (TSX-V: FCI | Frankfurt: BK2) is pleased to announce that on December 9, 2025 the annual and special general meeting of shareholders (the “Meeting”) was held. A total of 5,212,511 common shares (approximately 20.37% of the outstanding common shares) were represented at the Meeting in person or proxy.

1. NUMBER OF DIRECTORS

Shareholders approved setting the number of directors at four (3) with 5,185,929 (99.49%) total votes cast “FOR” and 26,582 (0.51%) Against. The motion carried.

2. Election of Directors

Each of the following individuals were elected as directors of the Company as approved by a vote by ballot, for a term expiring at the conclusion of the next annual meeting of shareholders of the Company or until their successors are elected or appointed, as follows:

Name	Votes “For” (%)	Votes “Against” (%)	Votes “Withheld/Abstained” (%)
Thomas Yingling	99.45%	0	0.55%
Brijender (Binny) Jassal	99.45%	0	0.55%
Florent Baril	99.46%	0	0.54%

Charn Deol did not stand for re-election and the Company would like to thank him for his many years of service.

3. Appointment of Auditor

The appointment of Smythe LLP, Chartered Professional Accountants as the auditor of the Company, to hold office until the next annual meeting of shareholders of the Company, and the authorization of the directors of the Company to fix the auditor’s remuneration, was approved by a resolution passed by a vote by ballot, with 5,179,791 (99.37%) total votes cast “FOR” and 32,720 (0.63%) Withheld/Abstain.

4. Approval of the Company's 2025 Omnibus Share Incentive Plan

The adoption of the 2025 Share Incentive Plan was approved by a resolution passed by disinterested shareholders by a vote by ballot, with 3,353,710 (98.58%) total votes cast “FOR” and 48,349 (1.42%) “AGAINST”. The 2025 Share Incentive Plan will now be filed with the regulatory authorities.

5. Re-pricing of Eligible Outstanding Options

The re-pricing of outstanding eligible options was approved by a resolution passed by disinterested shareholders by a vote by ballot, with 3,349,545 (3,349,545%) total votes cast “FOR” and 52,514 (1.54%) “AGAINST”. The eligible outstanding options will be amended to an exercise price of $0.18.

About the Company: First Canadian Graphite is managed by a team with over 150 years collectively with a proven track record of not just finding numerous mines but building and operating them too. The Company’s management team’s most recent success is discovering the Berkwood graphite resource in Northern Quebec. The Company owns this asset 100 percent, and the Company’s shareholders will benefit from this asset as the demand for Graphite for electric vehicles increases significantly.

On Behalf of the Board of Directors

First Canadian Graphite lnc.

SIGNED: “Thomas Yingling”

Thomas Yingling,

President, CEO & Director

2200 – 1250 Rene Levesque Blvd. Montreal, QC, H3B 4W8 Phone: (438) 469-0705

#1100 - 1111 Melville Street, Vancouver, BC, V6E 3V6 Phone: (604) 343-7740

FOR MORE INFORMATION, PLEASE CONTACT:

[email protected] or 1-604-343-7740

Website: www.firstcanadiangraphite.com

Disclaimer for Forward-Looking Information: Certain statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward looking statements in this news release include that the Company will carry out the drill program described in this news release, conduct the Offering and expend funds on Berkwood Graphite Project exploration. It is important to note that the Company's actual business outcomes and exploration results could differ materially from those in such forward-looking statements. Risks and uncertainties include that further permits may not be granted timely or at all; the mineral claims may prove to be unworthy of further expenditure; there may not be an economic mineral resource; methods we thought would be effective may not prove to be in practice or on our claims; economic, competitive, governmental, environmental and technological factors may affect the Company's operations, markets, products and prices; our specific plans and timing drilling, field work and other plans may change; we may not have access to or be able to develop any minerals because of cost factors, type of terrain, or availability of equipment and technology; and we may also not raise sufficient funds to carry out our plans. Additional risk factors are discussed in the section entitled "Risk Factors" in the Company's Management Discussion and Analysis for its recently completed fiscal period, which is available under Company's SEDAR profile at www.sedar.com. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions, which may prove to be incorrect. Except as required by law, we will not update these forward-looking statement risk factors.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this News Release.