Graphite One and Lucid Enter into Second Non-Binding Supply Agreement

June 4, 2025 – Vancouver, British Columbia – Graphite One Inc. (TSX‐V: GPH; OTCQX: GPHOF) (“Graphite One”, or the “Company”), is pleased to announce that as part of its plan to build a complete U.S. supply chain for advanced graphite materials, the Company has entered into a second non-binding supply agreement (the “Supply Agreement”) for anode active materials (“AAM”) with Lucid Group, Inc. (NASDAQ: LCID) (“Lucid”), maker of the world’s most advanced electric vehicles.

Whereas the previous agreement announced in July 2024 involved synthetic graphite AAM, the agreement announced today covers natural graphite AAM which will be supplied to Lucid and its battery cell suppliers for use in future vehicles.