Mr. Blake Hylands reports

LITHIUM IONIC ANNOUNCES GRANT OF MANAGEMENT CEASE TRADE ORDER AND STATUS REPORT

Further to Lithium Ionic Corp.'s news release dated April 22, 2026 (the initial news release), the Ontario Securities Commission (the OSC) has accepted the company's application, dated April 21, 2026, for a temporary management cease trade order (the MCTO) under National Policy 12-203 -- Management Cease Trade Orders.

The company filed the MCTO application with the OSC due to an anticipated delay in filing its audited annual financial statements and management's discussion and analysis for the financial year ended Dec. 31, 2025, and the certification of the foregoing filings as required by National Instrument 51-102 -- Continuous Disclosure Obligations and National Instrument 52-109 -- Certification of Disclosure in Issuers' Annual and Interim Filings. The required filings were required to be filed by April 30, 2026.

The MCTO will prohibit the chief executive officer and the chief financial officer of the company from trading in securities of the company for so long as the required filings are not filed and the MCTO remains in effect. The issuance of the MCTO does not affect the ability of persons other than the Restricted Persons to trade in the company's securities.

The company has confirmed that it intends to satisfy the provisions of the alternative information guidelines described in sections 9 and 10 of NP 12-203 for so long as it remains in default for failure to file the required filings, including by issuing biweekly default status reports (as defined in, and prescribed by, NP 12-203) by way of further news releases. Should the company fail to file the appropriate default status reports, the securities commissions or regulators, including the OSC, may, as a result of such failure, impose a failure-to-file cease trade order.

The company confirms that it is not subject to any insolvency proceeding as of the date hereof. The company also confirms that there is no other material information concerning the affairs of the company that has not been generally disclosed as of the date herein. For additional details as to why the required filings were not filed within the prescribed time period, please refer to the initial news release. Other than as disclosed in this news release, no changes have occurred in the matters disclosed in the initial news release.

Since April 9, 2026, management, together with its audit committee, has cooperated and worked diligently and expeditiously to complete the required filings as soon as practicable.

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 centered 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.

We seek Safe Harbor.