Mr. Francis MacDonald reports

LIFT ANNOUNCES C$20 MILLION PUBLIC OFFERING

Li-FT Power Ltd. has entered into an agreement with Canaccord Genuity Corp., as lead underwriter and sole bookrunner on behalf of itself and a syndicate of underwriters, in connection with a bought deal public offering of 6.9 million common shares of the company at a price of $2.90 per offered share for gross proceeds of $20.01-million.

The company has also granted the underwriters an option exercisable, in whole or in part, at any time and from time to time, within 30 days after the closing of the offering, to purchase up to that number of additional offered shares at the offering price equal to 15 per cent of the number of offered shares issued pursuant to the offering.

The company is party to an investor rights agreement which provides Avenir Minerals Ltd. with certain rights, including a right to participate in certain equity financings of the company. The company will provide the necessary notice to Avenir in accordance with the terms of such investor rights agreement and anticipates that Avenir will participate in the offering.

The company intends to use the net proceeds from the offering to finance the estimated care and maintenance costs for the first year of the Renard option period under the Renard option agreement and for working capital, all as will be more particularly described in the prospectus supplement (as defined below).

The closing of the offering is expected to occur on or about Aug. 12, 2026, and is subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including the conditional acceptance of the TSX Venture Exchange.

The offered shares will be offered publicly in all provinces and territories of Canada (other than Quebec) by way of a prospectus supplement to the company's short form base shelf prospectus dated Nov. 14, 2025, and may be offered on a private placement basis to qualified institutional buyers in the United States pursuant to Rule 144A or such other available exemptions from registration under the U.S. Securities Act (as defined below) and in such other jurisdictions outside of Canada and the United States, which shall include Australia, pursuant to exemptions from prospectus and registration requirements, and in all cases in compliance with applicable securities laws.

The allotment of the offered shares will fall within the company's 15-per-cent placement capacity under Australian Securities Exchange listing Rule 7.1.

Access to the prospectus supplement, the base shelf prospectus and any amendment to such documents is provided in accordance with securities legislation relating to the procedures for providing access to a shelf prospectus supplement, a base shelf prospectus and any amendment. The base shelf prospectus is, and the prospectus supplement will be (within two business days from the date hereof), accessible on SEDAR+. An electronic or paper copy of the prospectus supplement, the base shelf prospectus and any amendment to such documents may be obtained, without charge, from Canaccord by phone at 416-869-3052 or by e-mail at ecm@cgf.com, by providing the contact with an e-mail address or address, as applicable.

About Li-FT Power Ltd.

Li-FT is focused on developing a portfolio of hardrock lithium assets in Canada, with core development assets in both Quebec and the Northwest Territories. The company owns the Adina-Galinee lithium project in the Eeyou Istchee James Bay region of Quebec and the Yellowknife lithium project in the Northwest Territories. Li-FT also holds early-stage exploration properties in both jurisdictions.

We seek Safe Harbor.