Mr. Francis MacDonald reports

LIFT COMPLETES COMBINATION WITH WINSOME RESOURCES

Li-FT Power Ltd. has completed the combination with Winsome Resources Ltd. (Australian Securities Exchange: WR1), as previously announced on Dec. 15, 2025.

The transaction adds the Tier 1 Adina lithium project, located in the Eeyou Istchee James Bay region of Quebec, to Li-FT's portfolio and, together with the previously announced acquisition of a 75-per-cent interest in the adjacent Galinee property, creates one of the largest hard rock lithium developers in Canada. The combined Adina-Galinee project unlocks the potential to enhance scale, resource profile and project economics in the near term.

Pursuant to the transaction, eligible Winsome shareholders receive 0.107 of a new Li-FT common share (or 0.107 of a chess depository interest (CDI) representing 0.107 of a Li-FT common share) for each Winsome ordinary share held. All of the outstanding options in Winsome will be cancelled and Winsome optionholders will receive a specified fraction of a Li-FT common share or a Li-FT CDI for each option held (see the table in Section 3.7(a) of the scheme booklet which sets out the specified fraction of a Li-FT common share or Li-FT CDI provided as consideration based on the relevant tranche of Winsome options). In aggregate, 27,136,492 Li-FT common shares are to be issued (25,879,073 as CDIs and 1,257,419 as common shares) to acquire 253,623,451 ordinary shares of Winsome that are currently issued and outstanding, and 722,092 Li-FT common shares are to be issued (691,694 as CDIs and 30,398 as common shares) to acquire 18,288,900 options of Winsome that are currently issued and outstanding.

Completion of the transaction follows (i) receipt by Winsome of requisite shareholder and optionholder approval in favour of the schemes of arrangement in relation to the transaction on May 5, 2026, and (ii) approval by the Supreme Court of Western Australia of such schemes of arrangement on May 11, 2026. The transaction was negotiated by Li-FT and Winsome on an arm's-length basis and no finder's fee is payable by Li-FT in connection with the transaction, other than certain customary investment banking advisory fees.

In connection with the completion of the transaction, the 6,085,300 subscription receipts issued by Li-FT pursuant to the financing completed and announced by Li-FT on Jan. 29, 2026, have been converted into the same number of Li-FT common shares, and the net proceeds from the sale of such subscription receipts have been released from escrow to the company.

Li-FT has also completed its admission to the official list of the Australian Securities Exchange (ASX). Li-FT CDIs will commence trading on ASX under the ticker LFT, with each CDI representing one common share in Li-FT. Quotation of the CDIs is expected to commence on Tuesday, May 26, 2026. Li-FT remains listed on the TSX Venture Exchange under the symbol LIFT, providing the combined company with access to a broader pool of institutional and retail investors across Canada and Australia.

Francis MacDonald, president and chief executive officer of Li-FT, commented: "The completion of the Winsome acquisition is a transformative milestone for Li-FT and our shareholders. With Adina now part of our portfolio, alongside our flagship Yellowknife lithium project and the Galinee property, we have established a leading platform of high-value spodumene assets in Canada. We welcome Winsome shareholders and employees to the combined company and look forward to advancing development across our enhanced portfolio."

About Li-FT Power Ltd.

Li-FT is focused on developing a portfolio of hard rock lithium assets in Canada, with core development assets in both Quebec and the Northwest Territories. The company owns the Yellowknife lithium project in the Northwest Territories and the Adina lithium project in the Eeyou Istchee James Bay region of Quebec. Li-FT also holds early stage exploration properties in both jurisdictions.

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