Saguenay, Québec - Newsfile Corp. - March 2, 2026 - First Phosphate Corp. (CSE: PHOS) (OTCQX: FRSPF) (OTCQX ADR: FPHOY) (FSE: KD0) ("First Phosphate" or the "Company") has been conditionally approved for a non-repayable contribution agreement for up to C$16.7 million with the Government of Canada through Natural Resources Canada ("NRCan") under the Global Partnerships Initiative ("GPI"). This contribution funded by the Government of Canada will be deployed to assess the technical and engineering parameters - including processing circuits and equipment - needed to validate the ability to produce a phosphate concentrate that meets the quality requirements of the lithium iron phosphate ("LFP") battery market. The work will be conducted based on the parameters established under the contract between First Phosphate and its definitive offtaker. "Canada and our partners are putting real capital behind the secure and resilient critical mineral supply chains that our economies and defence industries rely on," said The Honourable Tim Hodgson, Minister of Energy and Natural Resources. "By supporting companies like First Phosphate, we are helping deliver the minerals the world needs and the prosperity and security Canadians deserve." "This financial support of the Government of Canada represents an important lever for the continuation of our development work," stated Armand MacKenzie, President of First Phosphate. "This contribution enables us to carry out detailed work aimed at validating LFP application requirements and the expectations of our offtakers and international partners." The development work will help strengthen Canada's strategic positioning within the LFP battery value chain through the development of domestic capacity to process apatite (phosphate concentrate) into high-purity phosphoric acid ("PPA") for battery applications. The project will develop a scalable Canadian process for the production of battery-grade phosphate concentrate, reducing dependence on foreign supply chains. The activities will contribute to significant economic benefits, including the creation of skilled jobs and the potential establishment of a Canadian phosphoric acid facility supported by local commercial production of phosphate concentrate. The financial contribution is granted for the completion of a study of the Company's integrated phosphate concentrate project in Saguenay-Lac-Saint-Jean and covers eligible activities planned through 2028, in accordance with the terms of the agreement. It forms part of an initiative to support industrial collaboration and the integration of Canadian projects into international supply chains for battery materials. To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/8917/285984_19c5995ee4b229ba_001full.jpgQualified Person The scientific and technical disclosure for First Phosphate included in this news release has been reviewed and approved by Gilles Laverdière, P.Geo. Mr. Laverdière is Chief Geologist of First Phosphate and a Qualified Person under National Instrument 43-101 - Standards of Disclosure of Mineral Projects ("NI 43-101"). About Natural Resources Canada Natural Resources Canada ("NRCan") is the federal department responsible for developing policies and programs to ensure the sustainable and responsible development of Canada's natural resources. Through its initiatives and funding programs, including the International Partnerships Program, NRCan supports projects that contribute to strengthening supply chains, industrial innovation, and Canada's competitiveness in the critical and strategic minerals sectors. About First Phosphate Corp First Phosphate (CSE: PHOS) (OTCQX: FRSPF) (OTCQX ADR: FPHOY) (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. For further information, please contact: Armand MacKenzie President armand@firstphosphate.com Tel: +1 (514) 618-5289 Investor Relations: investor@firstphosphate.com Media Relations: media@firstphosphate.com Website: www.FirstPhosphate.comFollow First Phosphate: X: https://x.com/FirstPhosphate LinkedIn: https://www.linkedin.com/company/first-phosphateForward-Looking Information and Cautionary Statements This 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...