Mr. Guy Bourassa reports

SCANDIUM CANADA APPOINTS FORMER CRITICAL MATERIALS LEADER AT GENERAL MOTORS, SIMON THIBAULT, AS NEXT PRESIDENT AND CEO

Scandium Canada Ltd.'s board of directors has appointed Simon Thibault as president and chief executive officer of Scandium Canada and president of Scalium+, the company's wholly owned advanced alloys and technologies subsidiary, effective Monday, Aug. 24, 2026.

The appointment concludes a planned succession process as the company enters its next phase of development. Guy Bourassa, the company's chief executive officer since 2024, will continue to serve on the board of directors and take on the role of strategic adviser to management to continue advancing projects related to Crater Lake.

A detailed video message from Guy Bourassa, Simon Thibault and Felix Lapointe is available now on the company's YouTube channel.

A leader with vast experience in mining and manufacturing

Mr. Thibault joins Scandium Canada from General Motors, where he has served since 2023 as EV Critical Materials Leader within the global purchasing and supply chain organization, supporting the sourcing of critical materials for GM's electric vehicle and energy storage programs and the development of a resilient North American supply chain. With 20 years of experience across the mining, critical materials, battery materials and automotive sectors, he brings a unique combination of operational, policy, sustainability and supply chain expertise. His career also includes leadership roles at Nemaska Lithium, Investissement Quebec and Propulsion Quebec, where he worked with industry and government stakeholders to advance the development of Quebec's battery ecosystem and strengthen North America's critical minerals value chain.

Quotes

"On behalf of the board, I would like to welcome and congratulate Simon on his appointment as president and CEO of Scandium Canada, and president of Scalium+. Simon brings a unique combination of experience across mining, critical materials, government and the automotive sector, including first-hand knowledge of what major manufacturers require from their critical-material suppliers. As we continue to advance Crater Lake and accelerate the commercialization of our aluminum-scandium alloys through Scalium+, we believe Simon has the experience, relationships and perspective to lead Scandium Canada through this important next stage of its development. I would also like to sincerely thank Guy for his leadership and significant contributions to the company and am very pleased that we will continue to benefit from his experience as a director and strategic adviser to management," said Jeff Swinoga, chair of the board of directors, Scandium Canada.

"When I joined Scandium Canada in 2024, we set out a long-term vision. We built something solid, and now it is time for Scandium Canada to become greater. That means bringing in the right people at the right time, and Simon is exactly that person. I will personally set him and the team up for success, as I remain a director, a strategic adviser to management and a dedicated shareholder. Building this company to where it is today, with Scalium+ now part of the group and the Naskapi Nation as a shareholder, is one of the great prides of my career, and I look forward to supporting Simon and the team through this transition," said Guy Bourassa, director and strategic adviser to management, Scandium Canada.

"Having spent years securing critical materials for large-scale manufacturing, I've learned that success depends on three things: a product that meets market requirements, a clear path to adoption and a compelling value proposition. What sets Scandium Canada apart is that it is not starting with a mine and searching for a market. Through Scalium+, the company already has aluminum-scandium (Al-Sc) alloy products, customers and an active qualification pipeline. Combined with the Crater Lake project, a primary scandium asset in the stable jurisdiction that is Quebec, and the Naskapi Nation's participation as a shareholder, the company has assembled a uniquely differentiated platform to build an integrated scandium supply chain from resource to end-use applications. That combination of commercial readiness, strategic assets and strong partnerships is what convinced me to join Scandium Canada, and I look forward to helping execute the next phase of growth," said Simon Thibault, president and chief executive officer, Scandium Canada, and president, Scalium+.

"Since joining Scandium Canada in June, we have been hard at work accelerating the commercialization of our aluminum-scandium alloys. With scandium, aluminum gets stronger, easier to weld and faster to print, which is exactly what the aerospace, defence, automotive and additive manufacturing end users are looking for. Our patent-pending alloys are being developed with many public and private collaborators, and each qualified alloy brings us closer to major OEMs. Simon's valuable experience in manufacturing will be a powerful amplifier for what we are building," said Felix Lapointe, Chief executive officer, Scalium+.

Management and continuity

Pierre Neatby has resigned from the board of directors and from his role as president and chief operating officer, effective Aug. 21, 2026, to pursue other opportunities. The board wishes to thank Mr. Neatby for his contribution, as president and chief operating officer, to the advancement of the Crater Lake project.

Stock option grant

The company also announces that its board of directors has granted to Mr. Thibault, as president and chief executive officer, an aggregate of three million options to purchase common shares of the company at an exercise price of 22 cents for a period of five years from the date of grant, which ends on Aug. 21, 2031.

The stock options vest in accordance with the following schedule: one/36th (approximately 2.78 per cent) vests monthly starting on the last day of the month following Aug. 21, 2026.

The grant remains subject to the approval of the TSX Venture Exchange.

About Scandium Canada Ltd.

Scandium Canada is a critical advanced materials company developing North America's only vertically integrated primary source of scandium, from its Crater Lake project in Nunavik, Que., to aluminum-scandium (Al-Sc) alloy products. Through Scalium+, its wholly owned commercialization subsidiary, the company brings proprietary, patent-pending Al-Sc alloys and the Scalium line of alloys and technologies to market today, while advancing the Crater Lake mining project for the future. This dual-engine strategy positions Scandium Canada to anchor a secure, resilient North American scandium supply chain and to shape the future of lighter, stronger, and longer-lasting materials for advanced manufacturing end users, while committing itself to building a more responsible economy through innovation and agility.

About Scalium+

Scalium+, formerly Ferreol Technologies, is Scandium Canada's wholly owned commercialization subsidiary for aluminum-scandium (Al-Sc) alloys. It unites the alloys developed by the company's Scandium+ division with the Scalium line of alloys and surface treatment created by the Ferreol Technologies team. Scalium alloys add value on multiple fronts: significantly higher mechanical strength than conventional alloys in rolled products, better weldability in wire form, faster print speeds in powder form and much higher corrosion resistance. For manufacturers, this translates into lighter parts, shorter build times in additive manufacturing and better lifetime value for primary and secondary components. Scalium+ brings these specialized materials to market today, across multiple sectors.

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