Mr. Massimo Bressi reports

BATTERY X METALS ENGAGES U.S. INVESTMENT BANK TO SUPPORT STRATEGIC PATH TOWARD POTENTIAL UNITED STATES NATIONAL SECURITIES EXCHANGE LISTING ALIGNED WITH U.S. GROWTH INITIATIVES

Battery X Metals Inc. has entered into a letter agreement and engaged a United States-based investment bank as its exclusive financial adviser and investment banker.

Under the terms of the agreement, the U.S. investment bank will provide a range of strategic advisory services in support of the company's continuing corporate development initiatives, including potentially uplisting to a U.S. national securities exchange such as Nasdaq composite (Nasdaq), New York Stock Exchange (NYSE) or the NYSE American. The U.S. investment bank's mandate also includes advising on potential financing alternatives, facilitating investor access through non-deal road shows, and assisting with structural and financial aspects of a potential listing on a U.S. national securities exchange, that may be mutually agreed upon by the parties.

While the engagement encompasses all qualifying U.S. national securities exchanges, Battery X Metals has identified the Nasdaq as its preferred listing exchange. The board of directors and management believe that a Nasdaq uplisting aligns with the company's long-term growth strategy, enhances visibility among U.S. institutional and retail investors, and could position Battery X Metals as a next-generation growth company focused on both U.S. and international markets. This objective is directly supported by the company's growth initiatives across its core business verticals, including its wholly owned subsidiary, Battery X Rebalancing Technologies Inc.'s, continued validation toward commercialization of its patent-pending lithium-ion battery cell rebalancing technology and machine. As part of Battery X Rebalancing Technologies' broader commercialization strategy, future deployment is envisioned across automotive service centres and dealership service departments, with a long-term strategic focus on the U.S. market, subject to the successful completion of continuing product development, validation initiatives and establishment of commercial agreements.

The company is also advancing sustainable lithium-ion battery recycling through its wholly owned subsidiary, Battery X Recycling Technologies Inc., via an amended research collaboration agreement with a globally ranked top 20 university's Institute of Mining Engineering, as disclosed in the company's news release dated Sept. 24, 2024. This research has focused on the development of proprietary froth flotation technology designed to recover battery-grade materials -- including graphite, lithium, nickel, cobalt, manganese and copper -- from end-of-life lithium-ion batteries, supporting a circular battery economy. While the amended research collaboration agreement concluded on June 30, 2025, Battery X Recycling Technologies is currently reviewing the potential to enter into a new research collaboration agreement with the global top 20 university that would continue and expand upon the prior work. Any material developments will be disclosed in accordance with applicable securities laws.

The company is also advancing artificial-intelligence-(AI)-powered mineral exploration through its wholly owned subsidiary, Battery X Discoveries Inc., via a joint venture framework established under a binding memorandum of understanding (MOU) with TerraDX Discoveries Inc. and MineMind Metals Inc., as disclosed in the company's news release dated April 25, 2025. This initiative focuses on the exploration of battery metals in Nevada, United States, using proprietary AI targeting models to drive subsurface intelligence and accelerate critical battery metal discoveries. The AI models are designed to integrate and analyze large, complex geological data sets -- often siloed and underutilized -- to identify high-probability mineral targets. This data-driven approach is expected to derisk early stage exploration, shorten discovery timelines and unlock new opportunities for lithium, cobalt, graphite, nickel and manganese deposits. TerraDX is a member of the Nvidia Inception program, which supports leading AI-focused start-ups through access to advanced computing infrastructure, technical expertise and go-to-market support. This affiliation underscores TerraDX's technological leadership and further enhances the proposed joint venture's innovation profile.

These initiatives collectively reflect Battery X Metals' integrated 360-degree strategy across the battery metals value chain -- spanning exploration, rebalancing and recycling -- and reinforce its commitment to scaling next-generation solutions that support the clean energy transition.

"This engagement with the U.S. investment bank marks an important step as we advance Battery X Metals toward a national U.S. exchange listing," said Massimo Bellini Bressi, chief executive officer of Battery X Metals. "We are confident that the U.S. investment bank's deep capital markets expertise and robust retail and institutional relationships will strengthen our strategic positioning and accelerate our capital markets and business growth trajectory."

Terms of engagement

As consideration for its services, Battery X Metals has agreed to issue to the U.S. investment bank or its designees 577,915 common shares in the capital of the company, payable in four equal monthly instalments beginning July 20, 2025. The common shares will carry piggyback registration rights and the same rights afforded to other holders of the company's common shares in connection with the potential listing on a U.S. national securities exchange. The company further agrees to register such common shares as part of the registration statement filed in connection with the potential listing on a U.S. national securities exchange.

For any financing completed through the U.S. investment bank, the company will pay a cash fee equal to 7.0 per cent of gross proceeds raised and will issue broker warrants equal to 7.0 per cent of the securities sold. The broker warrants will have a three-year term and include customary features such as cashless exercise, anti-dilution protections and registration rights. The exercise price will be equal to that of the securities sold in the applicable financing. In the event the company completes a reverse merger, merger, business combination or other M&A-(merger and acquisition)-type of potential listing on a U.S. national securities exchange, the U.S. investment bank will be entitled to a success fee equal to 3.5 per cent of the total aggregate consideration paid or received in connection with such transaction, subject to customary carve-outs. Consideration may include cash, stock, notes, the assumption or forgiveness of liabilities, and any contingent, deferred or earnout payments. The company has also agreed to reimburse the U.S. investment bank for reasonable expenses incurred in connection with the engagement, including legal, travel and third party costs, subject to prior written approval. Legal fees are reimbursable up to $125,000 (U.S.) if a financing is completed, and up to $35,000 (U.S.) if no financing occurs. A transaction includes other strategic events introduced by the U.S. investment bank, such as mergers, acquisitions, joint ventures, asset sales or strategic alliances. The engagement also grants the U.S. investment bank a right of first offer for a period of 18 months following the completion of any potential listing on a U.S. national securities exchange. If the company proposes to engage an underwriter, placement agent, adviser or other financial intermediary on more favourable terms in connection with a financing, it must first offer such terms to the U.S. investment bank in writing and the U.S. investment bank may accept the offer within five days. This right does not apply if the U.S. investment bank is terminated for cause, in the case of financings that do not involve an investment bank or financial intermediary, or for transactions not introduced by the U.S. investment bank. The engagement includes customary terms regarding confidentiality, indemnification and dispute resolution.

Any potential listing on a U.S. national securities exchange remains subject to the company satisfying all applicable qualitative and quantitative listing requirements of a U.S. national securities exchange. These requirements include, but are not limited to, achieving adequate minimum bid price, minimum shareholders' equity, free-trading public float, number of round-lot shareholders and market capitalization thresholds, as well as obtaining all necessary approvals from the relevant exchange, regulatory authorities and securities commissions.

About Battery X Metals Inc.

Battery X Metals is an energy transition resource exploration and technology company committed to advancing domestic and critical battery metal resource exploration and developing next-generation proprietary technologies. Taking a diversified, 360-degree approach to the battery metals industry, the company focuses on exploration, life span extension, and recycling of lithium-ion batteries and battery materials.

We seek Safe Harbor.