Court Approves Option to Acquire the Renard Mine Site

Li-FT Power Ltd. (“LIFT” or the “Company”) (TSXV: LIFT) (ASX: LFT) (OTCQX: LIFFF) (Frankfurt: WS0) is pleased to announce, further to the Company’s news release dated June 24, 2026, that the Superior Court of Québec (the “Court”) has approved the binding call option agreement dated June 23, 2026 (the “Option Agreement”) with Stornoway Diamonds (Canada) Inc. (“Stornoway”), 11272420 Canada Inc. (“1127 Canada”) and Deloitte Restructuring Inc. (the “Monitor”), in its capacity as monitor in the CCAA Proceedings (as defined below). Pursuant to the Option Agreement, LIFT has acquired the sole and exclusive call option (the “Option”) to acquire, at its election, the assets comprising the Renard diamond mine, processing facility and associated infrastructure (“Renard”) or all of the issued shares in the capital in Stornoway (the 100% owner of Renard) or 1127 Canada (the 100% owner of Stornoway) (the “Transaction”). A summary of the terms of the Transaction follows.

LIFT may exercise the Option for C$1.00 at any time during a two-year period ending June 23, 2028, unless extended by the parties (the “Option Period”). The Option Period will be used to confirm the technical, economic, environmental, and social feasibility of repurposing Renard for lithium processing, to determine the optimal Transaction structure, and to negotiate definitive acquisition agreements. As consideration for the Option, LIFT paid a C$12 million fee in cash (the “Option Fee”), which is being held in trust by the Monitor pending receipt of the authorization of Ministère des Ressources naturelles et des Forêts for the postponement of rehabilitation and restoration work at Renard during the Opti...