Ms. Gordana Slepcev reports

LOMIKO METALS ANNOUNCES RECEIPT OF INTERIM COURT ORDER AND MAILING OF MANAGEMENT INFORMATION CIRCULAR RELATING TO ARRANGEMENT WITH GLOBAL BATTERY MATERIALS

Lomiko Metals Inc. has filed and is in the process of mailing its management information circular and related meeting materials in connection with its coming special meeting of holders of common shares and holders of common share purchase warrants to be held on Sept. 23, 2026.

The purpose of the meeting is to seek approval for the previously announced plan of arrangement under the Business Corporations Act (British Columbia), pursuant to which Global Battery Materials Corp. will acquire all of the outstanding shares in an all-cash transaction for 13 cents per share, all in accordance with the terms of the arrangement agreement dated July 27, 2026, between Lomiko and GBM.

In addition, Lomiko is pleased to announce that the Supreme Court of British Columbia has granted an interim order authorizing, among other things, the calling, holding and conducting of the meeting and other procedural matters in connection with the arrangement.

Lomiko has also initiated all government and legal preclearance requirements related to its grants and contribution agreement, and all is progressing well and as expected.

Meeting details

In accordance with the interim order, the meeting will be held in person on Sept. 23, 2026, at 10 a.m. Vancouver time, at the offices of Fasken Martineau DuMoulin LLP, 550 Burrard St., Suite 2900, Vancouver, B.C., V6C 0A3, and the record date for determining the securityholders entitled to receive notice of, and vote at, such meeting is the close of business on Aug. 19, 2026.

At the meeting, securityholders will be asked to consider and, if deemed advisable, pass, with or without variation, a special resolution approving the arrangement. The arrangement resolution must be approved by: (i) at least two-thirds (66-2/3rds per cent) of the votes cast on the arrangement resolution by the shareholders present in person or represented by proxy at the meeting; (ii) at least two-thirds (66-2/3rds per cent) of the votes cast on the arrangement resolution by the securityholders present in person or represented by proxy at the meeting, voting together as a single class, with securityholders being entitled to one vote for each share and warrant held; and (iii) a simple majority of the votes cast on the arrangement resolution by the shareholders present in person or represented by proxy at the meeting, excluding for this purpose, any votes attached to the shares held by persons described in items (a) through (d) of Section 8.1(2) of Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions).

The deadline for completed proxies to be received by the company's transfer agent, Computershare Investor Services Inc., is Sept. 21, 2026, at 10 a.m. Vancouver time.

Meeting materials

The circular, form of proxy, voting instruction form and letters of transmittal for the meeting contain important information with respect to how securityholders may vote at the meeting. Securityholders who wish to attend and/or vote at the meeting must follow the procedures set out in the meeting materials. Securityholders who are unable to attend the meeting are strongly encouraged to complete, date, sign and return the form of proxy (in the case of registered securityholders) or voting instruction form (in the case of non-registered shareholders) provided with the meeting materials so that as many securityholders as possible are represented and vote at the meeting.

Securityholders will receive the meeting materials by mail. Securityholders are encouraged to access an electronic version of the circular, which is available under the company's profile on SEDAR+ and on the company's website. The circular contains important information on the arrangement and related matters, including the terms of the arrangement agreement, the background to the arrangement, the reasons for the arrangement, the recommendations of the board of directors and the special committee of independent directors of Lomiko, and how securityholders can participate in and vote at the meeting. Securityholders are urged to read the circular carefully and in its entirety, to consult their financial, legal, tax or other professional advisers, and to vote as soon as possible ahead of the proxy deadline of Sept. 21, 2026, at 10 a.m. Vancouver time, in accordance with the instructions accompanying the form of proxy or voting instruction form, as applicable.

Recommendation of the board of directors and special committee

The board (with interested directors abstaining) and the special committee, respectively unanimously recommend that securityholders vote for the arrangement resolution at the meeting. Reasons for these recommendations are set out in the circular.

Transaction details

If the securityholder approval is obtained at the meeting, the arrangement is expected to close in the fourth quarter of 2026, subject to the satisfaction of customary closing conditions under the arrangement agreement, including the issuance of a final order by the court and other regulatory or third party approvals.

Assuming completion of the arrangement, GBM will hold 100 per cent of the outstanding shares and intends to cause the shares to be delisted from the TSX Venture Exchange and to cause Lomiko to apply to cease to be a reporting issuer under applicable Canadian securities laws.

About Lomiko Metals Inc.

The company holds mineral interests in its advanced La Loutre graphite project in Southern Quebec. Its La Loutre graphite project site is within the Kitigan Zibi Anishinabeg (KZA) First Nation's territory, which is situated within the Outaouais and Laurentides regions. Located 180 kilometres northwest of Montreal, the property consists of one large, continuous block with 76 mineral exclusive exploration rights totalling 4,528 hectares (45.3 square kilometres). The company also holds an interest in seven early-stage projects in Southern Quebec, including Ruisseau, Tremblant, Meloche, Boyd, Dieppe, North Low and Carmin, covering 328 exclusive exploration rights over 18,622 hectares in the Laurentian region of Quebec and within KZA territory. The company has optioned an early-stage property prospect in the precious metals, antimony and rare earth elements. The Yellow Fox property is located approximately 10 kilometres southwest of the town of Glenwood, Nfld., and south of the Trans-Canada Highway.

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