Mr. Blake Hylands reports

LITHIUM IONIC PROVIDES BI-WEEKLY MCTO STATUS UPDATE

Lithium Ionic Corp. has provided this biweekly update on the status of the management cease trade order (MCTO) granted by its principal regulator, the Ontario Securities Commission (OSC), under National Policy 12-203, Management Cease Trade Orders, on May 4, 2026. As previously announced, the company applied for the MCTO as it was unable to file its audited annual financial statements for the year ended Dec. 31, 2025, the related management discussion and analysis, and its Form 52-109FV1 chief executive officer and chief financial officer certifications of annual filings. Under National Instrument 51-102, Continuous Disclosure Obligations, the annual filings were required to be made no later than April 30, 2026.

As a result of the delay in filing the annual filings, the company will be unable to file its interim financial statements for the three months ended March 31, 2026, the related management discussion and analysis, and it Form 52-109FV2 CEO and CFO certifications of interim filings by the deadline under NI 51-102 of June 1, 2026. The company anticipates it will file the interim filings concurrently with filing the annual filings.

Since the issuance of the MCTO, there have been no material changes to the information contained in the company's May 5, 2026, news release other than the delay in filing the interim filings. The company continues to work expeditiously and diligently with its auditor to complete the required filings as soon as possible.

In addition: (i) the company is satisfying and confirms that it intends to continue to satisfy the provisions of the alternative information guidelines under NP 12-203 and issue biweekly default status reports in the form of news releases, for so long as the company remains in default with the required filings and/or interim filings; (ii) the company does not have any information at this time regarding any anticipated specified default subsequent to the default in filing the required filings; and (iii) the company confirms that, as of the date of this news release, that the company is not subject to any insolvency proceedings.

The MCTO prohibits the chief executive officer and the chief financial officer of the company from trading in securities of the company for so long as the required filings are not filed and the MCTO remains in effect. The issuance of the MCTO does not affect the ability of persons other than the restricted persons to trade in the company's securities.

About Lithium Ionic Corp.

Lithium Ionic is a Canadian lithium development company focused on responsibly advancing its 100-per-cent-owned Bandeira lithium project in Minas Gerais, Brazil, a region coined the Lithium Valley that is emerging as a world-class hard-rock lithium district. The company is executing on a focused development strategy centred on engineering derisking, permitting advancement, commercial planning and construction readiness, with the goal of becoming a near-term producer of high-quality spodumene concentrate for global battery supply chains.

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