Saguenay, Quebec - Newsfile Corp. - 10 August 2026 - First Phosphate Corp. (NASDAQ: PHOS) (CSE: PHOS) (OTCQX: FRSPF) (FSE: KD0) ("First Phosphate" or the "Company") is pleased to announce that its American Depositary Receipts ("ADRs") will be uplisted to Nasdaq Global Market as a Level 2 ADR under ticker symbol "PHOS" (CUSIP: 33611D301; ISIN: US33611D3017) effective at the opening of trading on August 10, 2026. The First Phosphate ADR ratio remains set to ten (10) First Phosphate common shares for each (1) First Phosphate ADR. Effective August 10, 2026, First Phosphate level 1 ADRs will be delisted from the OTCQX market and will be automatically converted to First Phosphate level 2 ADRs readily tradeable on the Nasdaq Stock Exchange under ticker symbol "PHOS". The First Phosphate Level 2 ADR under Nasdaq ticker symbol "PHOS" remains complimentary to all other Company listings on all other stock exchanges and does not affect the Company's currently listed common shares on the OTCQX under symbol "FRSPF", on the CSE under symbol "PHOS" and on the FSE under symbol "KD0". Participants may continue to convert First Phosphate common shares into ADRs at no cost until December 31, 2026 through The Bank of New York Mellon ("BNY") which is currently the depositary bank for the First Phosphate ADR program. BNY facilitates the issuance and cancellation of First Phosphate ADRs in accordance with instructions received from market participants. The First Phosphate ADR program operates in accordance with a deposit agreement, filed with the United States Securities and Exchange Commission ("SEC") and available through https://www.sec.gov/Archives/edgar/data/2108542/000101915526000028/0001019155-26-000028-index.htm. The First Phosphate common shares underlying the First Phosphate ADRs are held in custody by BNY. Investors can convert First Phosphate common shares into First Phosphate ADRs by instructing their broker or custodian to deliver the common shares through CDS to BNY's safekeeping account at CIBC Mellon. For questions about issuances and cancellations of ADRs, please contact canadadrconversions@bny.com. The First Phosphate Level 2 ADR program does not constitute a new offering of securities and, therefore, no additional shares are being issued nor is any capital being raised in connection with the uplist of the First Phosphate ADR to the Nasdaq Stock Exchange. Moreover, nothing herein shall be deemed to constitute an offer to sell or a solicitation of an offer to buy securities. ADRs are negotiable U.S. securities that represent a non-U.S. company's equity. ADRs trade freely in global markets and facilitate cross-border trading. Additional information is available through BNY Depositary Receipts website: www.adrbny.com.

The issuer is solely responsible for the content of this announcement.

About First Phosphate Corp.

First Phosphate (NASDAQ: PHOS) (CSE: PHOS) (OTCQX: FRSPF) (FSE: KD0) 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 centers, robotics, mobility, and national security. First Phosphate's flagship Bégin-Lamarche property, located in Saguenay-Lac-Saint-Jean, Québec, Canada, represents a rare North American igneous phosphate resource producing high-purity phosphate characterized by very low levels of impurities. Investor Relations: investor@firstphosphate.com Media Relations: media@firstphosphate.com Website: www.FirstPhosphate.comFollow First Phosphate: X: https://x.com/FirstPhosphateLinkedIn: https://www.linkedin.com/company/first-phosphate -30- Forward-Looking Information and Cautionary StatementsThis release includes certain statements that may be deemed "forward-looking information". Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information. In particular, this press release contains forward-looking information relating to, among other things: the transition of ADR securities from OTC to Nasdaq and the listing of the ADRs on Nasdaq.Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those forward-looking statements. Factors that could...