Falcon Energy Materials Initiates US$100 Million Damages Claim Against Republic of Guinea

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Falcon Energy Materials Initiates US$100 Million Damages Claim Against Republic of Guinea (TheNewswire)   Abu Dhabi, United Arab Emirates – TheNewswire - March 16, 2026 – Falcon Energy Materials plc (TSX-V: FLCN) (“Falcon” or the “Company”) announces that it has formally commenced international arbitration proceedings over the illegal expropriation of the Lola Graphite Project (the “Project”) by the Republic of Guinea (“Guinea”) and other breaches of the bilateral investment treaty between the Governments of the United Arab Emirates and Guinea (“UAE-Guinea BIT”). The Company lodged a Request for Arbitration (“RfA”) under the UAE-Guinea BIT with the International Centre for Settlement of Investment Disputes (“ICSID”), part of the World Bank. The RfA is filed in accordance with the Convention on the Settlement of Investment Disputes between States and Nationals of Other States (the “ICSID Convention”). The RfA contains a description of the background to the dispute, a summary of the Company’s claims and an initial estimate of compensation for the damages sustained by the Company resulting from the actions of the Government of Guinea, currently estimated at US$100 million. Falcon’s Chief Executive Officer Matthieu Bos said: “While we regret that legal proceedings have become necessary, we are fully prepared to present our claim for compensation in arbitration, encompassing both the loss of the Company’s assets in Guinea and the additional damages arising from the actions of the Government of Guinea. Following our recent capital raise, the Company has secured full support from its shareholders to pursue this case as well as sufficient funding to cover all legal costs, and we remain confident that shareholders’ interests are protected. We will continue to refine our claims as part of the arbitration process while we keep our focus firmly on the development of our Anode Plant in Morocco.” Background to the Request for Arbitration On May 14, 2025, by virtue of a decree signed by its President, Guinea unilaterally revoked the exploitation license of the Project. The Company subsequently approached the Ministry of Mines in an effort to resolve the situation amicably. In the absence of any respo...

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