LIFT Commences Lithium Carbonate Converter Scoping Study as Part of Integrated Downstream Strategy FOR the Yellowknife Lithium Project

LIFT COMMENCES LITHIUM CARBONATE CONVERTER SCOPING

STUDY AS PART OF INTEGRATED DOWNSTREAM STRATEGY

FOR THE YELLOWKNIFE LITHIUM PROJECT

March 2, 202 6 – Vancouver, B.C., Li-FT Power Ltd. (“ LIFT” or the “ Company”) ( TSXV: LIFT )

(OTCQX: LIFFF) (Frankfurt: WS0) is pleased to announce the commencement of a Scoping Study

to build a Lithium Carbonate Converter (“Converter Project”), to be integrated with its Yellowknife

Lithium Project in the Northwest Territories. The Converter Project will have a planned production

capacity of 30ktpa Lithium Carbonate Equivalent (“ LCE”) of Battery Grade Lithium Carbonate,

sourcing future feedstock from the Yellowknife Lithium Project. The launch of the Scoping Study

is coordinated with the emerging regional demand considerations, as the lithium battery value

chain continues to evolve and develop in Canada and more broadly the North American market.

HIGHLIGHTS

 LIFT to launch Scoping Study for a Lithium Carbonate Converter as part of advancing

its integrated downstream strategy

 Scoping Study to be based on a planned 30,000 tonnes per annum ( “tpa” or together

“30ktpa”) production capacity of battery grade lithium carbonate, taking spodumene

concentrate feedstock supplied from the Yellowknife Lithium Project

 The exercise will also include a high-level site evaluation study to best ascertain the

optimal location for the future Lithium Carbonate Converter, based on a number of key

factors and considerations, including proximity and logistics to the Yellowknife Lithium

Project location in the Northwest Territories

 LIFT’s advancement of this integrated strategy, taking spodumene concentrate

produced at Yellowknife and processing the raw materials through to lithium

chemicals, will help support the continued build-out of a vertically integrated domestic

supply chain in Canada

Lithium carbonate is a key chemical input material used in the production of cathode active

materials and electrolyte, which are both key components used in the manufacturing of lithium -

ion batteries. The decision to focus the Scoping Study on the future p roduction of Lithium

Carbonate, has taken into consideration of it being the preferred input material used in the

production of LFP (“Lithium Ferro Phosphate” or “Lithium Iron Phosphate”) cathode materials.

The LFP chemistry has continued its growth in not only Electric Vehicle (“EV”) applications, where

LFP is growing in adoption particularly within the mass market vehicle segment, but more notably

and significantly in recent years within the Energy Storage System (“ ESS”) application sector.

According to the International Energy Agency, LFP based technology in 2025 commanded a share

in the global EV market of more than 50 percent, while it dominates the global ESS market with a

share of more than 90 percent.

For the Scoping Study, LIFT has elected to partner with SCT – a globally leading engineering

design, technology and equipment provider, focused on the lithium chemicals and battery

materials sector. The company was established in 2002 and has offices in Australia, South Korea,

China, Indonesia and Germany – providing engineering and technology solutions for lithium

minerals conversion, refinery and cathode active material projects. To date, SCT has built one of

the strongest track records of project execution in the lithium industry, participating in over 60

lithium conversion facility projects worldwide resulting in a total of 1,000,000 tpa LCE of planned

production capacity, of which 650,000 tpa LCE capacity has actually entered into operations and

production at or above nameplate capacity, involving an aggregate capital investment of well over

US$7 billion to date . SCT is a specialist in the area of pyrometallurgy and has built up deep

experience in handling the conversion and processing of a multitude of lithium minerals, including

spodumene concentrate, lepidolite concentrate, clay etc., from various lithium resource projects

around the world.

Anthony Tse, Executive Chairman of Li -FT Power, commenting on the commencement of the

Scoping Study “I am excited to see LIFT advancing its integrated downstream strategy with the

commencement of this study. The Converter Project will allow the Company to further add value

by processing the mined spodumene concentrate from its Yellowknife Lithium Project and

processing it all the way through to lithium chemicals, thus importantly capturing that value

locally. This strategy also allows LIFT to play an important role in supporting the build -out of a

vertically integrated domestic supply chain in Canada, providing a key input for the future

production of battery materials which in turn will support cell manufacturing in the region. I am

also pleased to be establishing this relationship between LIFT and SCT, a strong technology and

engineering partner with an invaluable depth of experience to support the Company’s integrated

downstream strategy going forward.”

About LIFT

LIFT is a mineral exploration company engaged in the acquisition, exploration, and development

of lithium pegmatite projects located in Canada. The Company’s flagship project is the

Yellowknife Lithium Project located in Northwest Territories, Canada. LIFT also holds three early-

stage exploration properties in Quebec, Canada with excellent potential for the discovery of buried

lithium pegmatites, as well as the Cali Project in Northwest Territories within the Little Nahanni

Pegmatite Group.

For further information, please contact:

Francis MacDonald Daniel Gordon

Chief Executive Officer Investor Relations

Tel: + 1.604.609.6185 Tel: +1.604.609.6185

Email: [email protected] Email: [email protected]

Website: www.li-ft.com

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statements (collectively, “forward -looking statements”), including those identified by the

expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “inten d”, “may”, “should” and

similar expressions to the extent they relate to the Company or its management. The forward -

looking statements are not historical facts but reflect current expectations regarding future

results or events. This press release contains forward looking statements. These forward-looking

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uncertainties that could cause actual results to differ materially from those expressed or implied

by such statements. Additional information about these assumptions and risks and uncertainties

is contained under "Risk Factors" in the Company's latest annual information form filed on March

21, 2025, which is available under the Company' s SEDAR+ profile at www.sedarplus.ca, and in

other filings that the Company has made and may make with applicable securities authorities in

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