Graphite One Inc. — Capital/Financing Update 2026

Feb 12, 2026

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Borden Ladner Gervais LLP 1200 Waterfront Centre 200 Burrard St, P.O. Box 48600 Vancouver, BC, Canada V7X 1T2 T 604.687.5744 F 604.687.1415 blg.com

February 11, 2026

VIA SEDAR+

British Columbia Securities Commission Alberta Securities Commission Financial and Consumer Affairs Authority of Saskatchewan Manitoba Securities Commission Ontario Securities Commission Financial and Consumer Services Commission (New Brunswick) Nova Scotia Securities Commission Office of the Superintendent of Securities Service, Newfoundland & Labrador Financial and Consumer Services Division (Prince Edward Island) Office of the Yukon Superintendent of Securities Office of the Superintendent of Securities (Northwest Territories) Office of the Superintendent of Securities (Nunavut)

Dear Sirs/Mesdames:

Graphite One Inc. (the "Company") – Prospectus Supplement dated February 11, 2026 to the Short Form Base Shelf Prospectus dated January 20, 2026

We refer to the prospectus supplement (the "Prospectus Supplement") of the Company dated February 11, 2026 to the short form base shelf prospectus of the Company dated January 20, 2026.

We hereby consent to the references to our name on Pages iii and 11, and under the heading "Legal Matters" in the Prospectus Supplement.

Yours truly,

(signed) "Borden Ladner Gervais LLP"

Borden Ladner Gervais LLP