Applied Graphite Technologies Corporation ("AGT") (TSXV: AGT), which is developing the Queens Mine Complex in Sri Lanka, has announced an amendment to its previously announced non-brokered private placement offering. The company now plans to offer up to 16,666,667 common shares ("Common Shares") at a price of Cdn$0.06 per share for gross proceeds of up to Cdn$1,000,000 (the "Offering").

Applied Graphite Technologies Corporation ("AGT") (TSXV: AGT) announces that it has amended the previously announced non-brokered private placement offering to instead offer up to 16,666,667 common shares ("Common Shares") at a price of Cdn$0.06 per share for gross proceeds of up to Cdn$1,000,000 (the "Offering"). The funds will support AGT’s ongoing graphite development activities in Sri Lanka.

Existing insiders of AGT intend to purchase a portion of the Offering.  Participation by insiders of AGT in the Offering constitutes a related-party transaction as defined under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The issuance of securities is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 on the basis that the fair market value of the insiders' participation in the Offering, as determined in accordance with MI 61-101, shall not exceed 25% of the Company's market capitalization.

The Offering is scheduled to close on or about July 21, 2025 and is subject to the Company receiving all necessary regulatory approvals, including the approval of the TSX Venture Exchange. Finder's fees of 8% in cash may be payable on a portion of the Offering. All securities to be issued pursuant to the Offering will be subject to a four-month hold period under applicable securities laws in Canada.

The net proceeds of the Offering will be used by AGT for project development and general working capital purposes.

This press release is not an offer to sell or the solicitation of an offer to buy the securities in the

United States or in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification or registration under the securities laws of such jurisdiction. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from U.S. registration requirements and applicable U.S. state securities laws.