Plan of arrangement

The TSX Venture Exchange has accepted for filing documentation in connection with an arrangement agreement between ExGen Resources Inc. and MTB Metals Corp. dated Oct. 16, 2025. Pursuant to the agreement, ExGen has agreed to acquire all of the issued and outstanding common shares of MTB by way of a plan of arrangement under the provisions of the Business Corporations Act (British Columbia). Under the agreement, each MTB shareholder will be entitled to receive 0.286 of a common share of ExGen for each MTB share held. ExGen will issue an aggregate of 40,256,794 shares to MTB shareholders.

The exchange has been advised that approval of the transaction by the MTB securityholders was received at a special meeting of securityholders held on Dec. 11, 2025, and that approval of the transaction was received from the British Columbia Supreme Court on Dec. 16, 2025. The transaction completed on Dec. 19, 2025. The full particulars of the transaction are set forth in the management information circular of MTB, dated as of Nov. 5, 2025, and the closing news release dated Dec. 19, 2025, which are available on SEDAR+.

Postarrangement capitalization of ExGen

Capitalization:  unlimited common shares with no par value, of which 109,149,808 shares are issued and outstanding

Escrow:  nil shares

Transfer agent:  Endeavor Trust Corp.

Trading symbol:  EXG (no change)

Cusip No.:  30204R 20 0 (no change)

Delisting

Pursuant to a directors resolution dated Dec. 19, 2025, and in conjunction with the closing of the transaction, MTB has requested that its common shares be delisted. Accordingly, effective at the close of business, Dec. 23, 2025, the common shares of MTB will be delisted from the exchange.