Mr. Alex Wylie reports

LIBERTYSTREAM SIGNS FEEDSTOCK TERM SHEET WITH GOODNIGHT MIDSTREAM FOR NORTH DAKOTA LITHIUM EXPANSION; INDEPENDENCE 1 TARGETS 2027 COMMISSIONING

On Nov. 6, 2026, Libertystream Infrastructure Partners Inc. entered into a non-binding term sheet with Goodnight Midstream LLC. The term sheet establishes a proposed framework for Libertystream to deploy its proprietary direct lithium extraction (DLE) and refining systems within Goodnight's Bakken produced water infrastructure, beginning with Independence 1, the company's proposed first commercial lithium carbonate facility in North Dakota.

The proposed arrangement builds on the commercial model Libertystream established in the Permian basin: The mid-stream partner sources, transports and manages the produced water while Libertystream finances, designs, constructs and operates the lithium facilities. Signing the Goodnight term sheet advances the company's planned expansion into a second major U.S. produced water basin, building on its existing relationship with Select in Texas.

Goodnight Midstream term sheet

Under the term sheet, subject to the execution of definitive agreements, Goodnight would grant Libertystream the exclusive right to process produced water at Goodnight's Bakken facilities to recover lithium and other critical minerals. Libertystream would receive produced water at agreed delivery points, process it at its facilities and return treated water to Goodnight within agreed specifications. Libertystream would finance, design, construct, own and operate each facility, and Goodnight would have no capital or operating cost obligation. Libertystream's exclusivity would be subject to conditions, including commissioning an initial facility with capacity of approximately 23,000 barrels per day on or before Dec. 31, 2027. If those conditions are not met, Libertystream would retain exclusivity only at Goodnight facilities where a Libertystream facility has been commissioned. Libertystream would also be responsible, at its sole cost, for obtaining and maintaining all permits required to operate the facilities.

In return, Goodnight would receive a revenue share on lithium carbonate produced and sold from each facility, calculated on realized sale proceeds, with the rate increasing above a specified lithium carbonate price. The term sheet also contemplates a royalty on other products, such as other critical minerals, produced and sold from the facilities, at rates to be agreed. The term sheet contemplates that the initial facility may be followed by up to three additional facilities of similar scale at mutually agreed Goodnight locations.

The term sheet is a statement of intention only and, other than provisions relating to confidentiality, public statements and governing law, does not create binding obligations. There can be no assurance that a definitive agreement will be entered into on the terms described in this news release or at all.

Independence 1 and the North Dakota platform

Independence 1 would be Libertystream's first commercial lithium carbonate facility in North Dakota and is designed to produce approximately 500 tonnes per year of battery-grade lithium carbonate at a Goodnight site, with production targeted to begin in the third quarter of 2027, subject to execution of the definitive agreement, financing, permitting and construction. Independence 1 supports Libertystream's strategy to establish a domestic lithium supply chain in North Dakota, including supply to Packet Digital, a Fargo-based battery manufacturer, under the memorandum of understanding signed between the companies in November, 2025.

Independence 1 is the first of a planned series of Independence facilities across Goodnight's Bakken system. Each facility will use the same modular DLE and refining template Libertystream is deploying with Select in Howard county, Texas, allowing the company to replicate engineering, procurement and operations from one site to the next.

State of North Dakota funding support

Libertystream is developing its North Dakota activities with Wellspring Hydro, a North Dakota company that has worked on produced water and lithium development in the state since 2021. Wellspring has been awarded $2.2-million (U.S.) in grants and $2.5-million (U.S.) in loans from the North Dakota Industrial Commission's Clean Sustainable Energy Authority (CSEA), which may be utilized by Libertystream through Wellspring in connection with the project, subject to conditions. Libertystream is also working with the State of North Dakota on project financing options for up to 50 per cent of facility costs for Independence 1 and future Independence facilities.

About Libertystream Infrastructure Partners Inc.

Libertystream is a lithium development and technology company aiming to be one of North America's first commercial producers of lithium carbonate from oil field brine. The company's strategy is to generate value for shareholders by leveraging management's hydrocarbon experience to deploy its proprietary DLE technology directly into existing oil and gas infrastructure, thereby reducing capital costs, lowering risks and supporting the world's clean energy transition. The company is committed to operating efficiently and with transparency across all areas of the business, staying sharply focused on creating long-term, sustainable shareholder value.

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