Graphite One receives $2.07B EXIM financing interest

Mr. Anthony Huston reports EXIM BANK INCREASES LETTERS OF INTEREST FOR THE GRAPHITE ONE SUPPLY CHAIN TO $2.07 BILLION Graphite One Inc. has received amended, non-binding letters of interest (LOI) from the Export-Import Bank of the United States (EXIM) for potential debt financing. The previously issued EXIM LOI to finance the company's Graphite Creek project north of Nome, Alaska, is upsized from $570-million to $670-million, while the EXIM LOI for G1's advanced graphite materials manufacturing plant planned for northeastern Ohio, is upsized from $325-million to $1.4-billion with a repayment tenor of 15 years under EXIM's Make More in America Initiative. The upsizing of the Ohio facility LOI will support a phased increase in production capacity in 25,000-metric-ton increments to an annual production rate of 100,000 metric tons of anode active material. EXIM's combined LOIs for Graphite One's 100-per-cent United States-based supply chain solution now total $2.07-billion. The increases were made after a meeting between chairman Jovanovic and G1 chief executive officer Anthony Huston at EXIM headquarters in Washington, D.C. The LOIs are executed through EXIM's Make More in America and China and Transformational Exports Program (CTEP) initiatives. "Graphite One is building America's graphite supply chain from the ground up -- from the largest natural graphite deposit in the country in Alaska, to processing facilities in Ohio," said chairman Jovanovic. "This is exactly the kind of project President Trump's agenda demands: securing critical minerals, revitalizing American manufacturing capacity and helping support the jobs of the future across our great country." "All of us at G1 are so appreciative of the support we are receiving from EXIM under the leadership of chairman Jovanovic," said Mr. Huston. "There is no reason the U.S. should be dependent on foreign-sourced graphite when we have a generational resource in Graphite Creek anchoring a 100-per-cent U.S.-based advanced graphite materials supply chain." The EXIM meeting took place on the final day of Mr. Huston's Washington meetings at the White House as well as with multiple federal departments and senior U.S. government officials formulating Critical Mineral policy. G1 expects to submit a formal application to EXIM under both LOIs in 2026. Upon receipt, EXIM will conduct all requisite due diligence necessary to determine if a final commitment may be issued for this transaction. Any final commitment is subject to EXIM's eligibility, credit, and approval requirements and satisfaction of terms and conditions. All final commitments must comply with EXIM policies as well as program, legal and eligibility requirements. Given China's dominance over global graphite production, the EXIM letters of interest indicate the transaction may also be eligible for special consideration under Section 402 of EXIM's 2019 Reauthorization (P.L. 116-94), which directs EXIM to take steps to mitigate the competitive impact of export support provided by the People's Republic of China and other covered countries for opportunities such as this one under EXIM's CTEP initiative. Graphite One's domestic supply chain strategy With the United States currently 100-per-cent import-dependent for natural graphite, Graphite One is developing a complete U.S.-based, advanced graphite supply chain solution anchored by the Graphite Creek deposit, recognized by the U.S. Geological Survey as the largest graphite deposit in the U.S. "and among the largest in the world." The Graphite One project supply chain strategy involves transporting material to the lower 48 via the Port of Nome to an anticipated advanced graphite material and battery anode material manufacturing plant to be located in Warren, Ohio, subject to project financing. The plan also includes a potential recycling facility to reclaim graphite and the other battery materials, to be co-located at the Ohio site, the third link in Graphite One's circular economy strategy. About Graphite One Inc. Graphite One continues to develop its Graphite One project, with the goal of becoming an American producer of high-grade anode materials that is integrated with a domestic graphite resource. The project is proposed as a vertically integrated enterprise to mine and process natural graphite and to manufacture artificial and natural graphite anode active materials primarily for the lithium-ion electric vehicle battery and energy storage markets. We seek Safe Harbor.