First Phosphate Applauds Government of Canada Investment to Build Second Wharf at Port Saguenay

Saguenay, Quebec--(Newsfile Corp. - November 13, 2025) - First Phosphate Corp. (CSE: PHOS) (OTCQX: FRSPF) (FSE: KD0) ("First Phosphate" or the "Company") applauds the announcement by the Canadian Minister of Government Transformation, Public Works and Procurement, Joël Lightbound, to invest $57.6 million to build the second wharf at the Port Saguenay, Quebec, Canada.

The second wharf at Port Saguenay is to be positioned directly adjacent to First Phosphate's planned phosphoric acid plant and will greatly assist in the transportation of the Company's future phosphate concentrate, phosphoric acid and lithium iron phosphate ("LFP") products to North American, European and international destinations.

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This federal government investment announcement comes on the heels of the recent visit to Port Saguenay by Canada's Minister of Energy and Natural Resources, Tim Hodgson, on October 4, 2025.

First Phosphate President, Armand MacKenzie said: "This proposed investment by the Canadian Government is a most welcome development that will expand the economy of the region of Saguenay-Lac-St-Jean and bring quality jobs to the area. Most importantly, it will facilitate the commercialization of the region's natural resources, and especially First Phosphate's mineral properties that are greatly needed in the drive to onshore the LFP battery supply chain".

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First Phosphate recently announced that it has finalized an industrial land option agreement (the "Agreement") with Port Saguenay. The Agreement covers lands where the Company plans to develop a phosphoric acid plant using advanced clean technology from Prayon SA of Belgium and to be implemented by international engineering firm Ballestra S.pA. of Italy. The lands at Port Saguenay offer strategic benefits and a competitive position, including:

• Direct rail and vessel access to North American and global markets, especially to the company's European offtakers;

• Access to large-scale industrial infrastructure, utilities and expansion lands; and

• Eventual vertical integration between upstream phosphoric acid and downstream LFP battery material production.

The Agreement was signed in Montreal on July 18, 2025 at the premises of the Wallonia Export & Investment Agency ("AWEX") and in Saguenay, at Port Saguenay.