Itafos Inc. announced that, further to its news release on May 17, 2023, it has filed the National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") technical report for the Farim Phosphate Project (the "Farim Project"), a high-grade phosphate mine project located in the northern part of central Guinea-Bissau, West Africa. The technical report, entitled "Farim Phosphate Project - NI 43-101 Technical Report and Feasibility Study," with an effective date of May 17, 2023 (the "Farim Technical Report"), was prepared for the Company by Ausenco Engineering Canada Inc. ("Ausenco") in accordance with NI 43-101. The Farim Technical Report was prepared to summarize the results of an updated Feasibility Study for the Farim Project and consolidate all project de-risk work conducted between 2015 and 2022.

Ausenco was supported by KEMWorks Technology Inc., WSP/Golder, Knight Piésold Ltd., WF Baird & Associates and Kristal Font Inc.