First Phosphate management commentary attributes wider net loss for six months ended Aug. 31, 2026 to higher exploration spending

• First Phosphate's management commentary reported a $19.5 million net loss for the six months ended August 31, 2026, versus $3.75 million.
• Management attributed exploration and metallurgy expenses of $13.57 million, versus $2.73 million, mainly to the latest Bégin-Lamarche drilling program.
• Business development expenses rose to $3.64 million from $274,236, reflecting increased activity associated with the Nasdaq American Depositary Receipts listing.
• Operating cash outflow reached $21.07 million as exploration, engineering and corporate activities expanded; financing provided $20.88 million.
• Cash and cash equivalents totaled $19.95 million at period-end, while working capital reached $22.67 million.

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