Mr. Blake Hylands reports

LITHIUM IONIC ACKNOWLEDGES RECEIPT OF SHAREHOLDER REQUISITION

Lithium Ionic Corp. has received a requisition letter from Waratah Capital Advisors Ltd. requesting that the company's board of directors call a special meeting of the shareholders of the company to remove and replace David Gower, Lawrence Guy and Helio Diniz as directors of the company.

The company, including the board and the special committee (as defined below), are reviewing the requisition and will respond to the requests made by Waratah. The special committee has advised the named directors that their resignations as directors would be in the best interest of the company. The company expects to provide a further update when available. Shareholders are not required to take any action at this time.

Waratah's letter and request relates to a previously announced enforcement application dated April 9, 2026, initiated by the Ontario Securities Commission (OSC) against certain directors of the company and another reporting issuer. Lithium Ionic is not a respondent in this matter and no orders have been sought against Lithium Ionic. The allegations contained in the proceeding have not been proven. The board has established a special committee comprising independent directors to oversee the company's communications and disclosure in respect of this matter.

About Lithium Ionic Corp.

Lithium Ionic is a Canadian lithium development company focused on responsibly advancing its 100-per-cent-owned Bandeira lithium project in Minas Gerais, Brazil, a region coined the Lithium Valley that is emerging as a world-class hard-rock lithium district. The company is executing on a focused development strategy centred on engineering derisking, permitting advancement, commercial planning and construction readiness, with the goal of becoming a near-term producer of high-quality spodumene concentrate for global battery supply chains.

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