Mr. Koby Kushner reports

EARLY WARNING REPORT REGARDING LIBRA ENERGY MATERIALS INC.

Koby Kushner and David Goodman, directors and officers of Libra Energy Materials Inc., have each filed on SEDAR+ an early warning report dated Sept. 29, 2026, with respect to the acquisition of an aggregate of 1.2 million common shares in the capital of Libra Energy on Sept. 17, 2026. Filing of the early warning reports was inadvertently delayed.

Koby Kushner

On Sept. 17, 2026, Mr. Kushner acquired 200,000 common shares at a price of 10 cents per share, pursuant to the transaction. Prior to the transaction, Mr. Kushner beneficially owned and controlled 6,954,957 common shares (of which 6,356,334 were held directly and 598,623 were held indirectly through Brie Inc., a company beneficially owned and controlled by Mr. Kushner), together with 425,000 stock options, representing 10.01 per cent of the issued and outstanding shares of the issuer on a non-diluted basis, and approximately 10.56 per cent on a partially diluted basis.

Following completion of the transaction, Mr. Kushner beneficially owns and controls 7,154,957 common shares (of which 6,356,334 are held directly and 798,623 are held indirectly through Brie, a company beneficially owned and controlled by Mr. Kushner), together with 425,000 stock options, representing 8.64 per cent of the issued and outstanding shares of the issuer on a non-diluted basis, and 9.11 per cent on a partially diluted basis.

Subsequent to the transaction, Libra Energy issued an aggregate of 9,602,908 common shares pursuant to additional private placement financings. As a result, while the number of common shares (and stock options) beneficially owned or controlled by Mr. Kushner remains unchanged, the percentage held by Mr. Kushner has been further reduced from 8.64 per cent to 7.74 per cent on a non-diluted basis and from 9.11 per cent to 8.17 per cent on a partially diluted basis.

David Goodman

On Sept. 17, 2026, Mr. Goodman acquired one million common shares at a price of 10 cents per share, pursuant to the transaction. Prior to the transaction, Mr. Goodman beneficially owned and controlled 9,744,117 common shares (of which five million were held directly, 294,117 were held indirectly through GFI Investment Counsel Ltd. and 4.45 million were held indirectly through The D2 Financial Corp., both companies beneficially owned and controlled by Mr. Goodman), together with 300,000 stock options, representing 14.03 per cent of the issued and outstanding shares of the issuer on a non-diluted basis, and 14.40 per cent on a partially diluted basis.

Following completion of the transaction, Mr. Goodman beneficially owns and controls 10,744,117 common shares (of which five million are held directly, 294,117 are held indirectly through GFI Investment Counsel and 5.45 million are held indirectly through D2 Financial, both companies beneficially owned and controlled by Mr. Goodman), together with 300,000 stock options, representing 12.98 per cent of the issued and outstanding shares of the issuer on a non-diluted basis, and 13.29 per cent on a partially diluted basis.

Subsequent to the transaction, Libra Energy issued an aggregate of 9,602,908 common shares pursuant to private placement financings. As a result, while the number of common shares (and stock options) beneficially owned or controlled by Mr. Goodman remains unchanged, the percentage held by Mr. Goodman has been further reduced from 12.98 per cent to 11.63 per cent on a non-diluted basis and from 13.29 per cent to 11.92 per cent on a partially diluted basis.

The common shares were acquired for investment purposes. Neither Mr. Kushner nor Mr. Goodman have any present intention to dispose of any common shares. In the future, Mr. Kushner or Mr. Goodman may, from time to time, increase or decrease their ownership, control or direction over securities of the issuer held by them through market transactions, private agreements or otherwise, depending on market conditions, the business and prospects of the issuer, and other relevant factors.

The transaction was conducted in reliance on the listed issuer financing exemption (LIFE) under Part 5A of National Instrument 45-106, Prospectus Exemptions, as amended and supplemented by Coordinated Blanket Order 45-935, Exemptions from Certain Conditions of the Listed Issuer Financing Exemption. Accordingly, the shares issued in the LIFE offering are not subject to resale restrictions pursuant to applicable Canadian securities laws.

This news release is being issued pursuant to National Instrument 62-103, The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which also requires a corresponding early warning report to be filed in accordance with applicable securities laws. A copy of the early warning reports are available under the issuer's profile on SEDAR+. The issuer's head office is located at Suite 301, 15 Toronto St., Toronto, Ont., M5C 2E3. A copy of the early warning reports can be obtained by contacting either Mr. Kushner or Mr. Goodman at the issuer's head office or by telephone at 1-416-846-6164.

About Libra Energy Materials Inc.

Libra Energy is a Canadian mineral exploration company focused on the discovery and development of the critical minerals necessary for the green energy transition. Libra Energy's flagship Canadian projects include the recently optioned Cisco West and Obamska lithium projects in Quebec, located adjacent to Q2 Metals' Cisco deposit -- the largest hard-rock lithium deposit in the Western Hemisphere. Libra Energy's Flanders North, Flanders South and SBC lithium projects in Ontario are being explored under a $33-million earn-in deal with KoBold Metals Company. In addition, Libra Energy holds a broader portfolio of battery metals projects across Canada and Brazil. The Libra Energy team comprises a mix of seasoned executives, engineers and geoscientists, with extensive experience in mining and mineral exploration, capital markets, asset management, energy, and first nations engagement.

We seek Safe Harbor.