LIFT Completes Combination with Winsome Resources

LIFT COMPLETES COMBINATION WITH WINSOME RESOURCES

May 21, 2026 – Vancouver, B.C., Li-FT Power Ltd. (“LIFT” or the “Company”) (TSXV: LIFT) (OTCQX:

LIFFF) (Frankfurt: WS0) is pleased to announce the successful completion of the combination

with Winsome Resources Limited (“Winsome”) (ASX: WR1), as previously announced on

December 15, 2025.

The transaction adds the tier- one Adina lithium project, located in the Eeyou Istchee James Bay

region of Québec, to LIFT’s portfolio and, together with the previously announced acquisition of a

75% interest in the adjacent Galinée property, creates one of the largest hard rock lithium

developers in Canada. The combined Adina -Galinée project unlocks the potential to enhance

scale, resource profile and project economics in the near-term.

Pursuant to the transaction, eligible Winsome shareholders receive 0.107 of a new LIFT common

share (or 0.107 of a CHESS Depository Interest (“CDI”) representing 0.107 of a LIFT common

share) for each Winsome ordinary share held. All of the outstanding options in Winsome will be

cancelled and Winsome optionholders will receive a specified fraction of a LIFT common share

or a LIFT CDI for each option held (see the table in Section 3.7(a) of the Scheme Booklet which

sets out the specified fraction of a L IFT common share or LIFT CDI provided as consideration

based on the relevant tranche of Winsome options). In aggregate, 27,136,492 LI FT common

shares are to be issued ( 25,879,073 as CDIs and 1,257,419 as common shares) to acquire

253,623,451 ordinary shares of Winsome that are currently issued and outstanding, and 722,092

LIFT common shares are to be issued (691,694 as CDIs and 30,398 as common shares) to acquire

18,288,900 options of Winsome that are currently issued and outstanding.

Completion of the transaction follows (i) receipt by Winsome of requisite shareholder and

optionholder approval in favour of the schemes of arrangement in relation to the transaction on

May 5, 2026, and (ii) approval by the Supreme Court of Western Australia of such schemes of

arrangement on May 11, 2026. The transaction was negotiated by LIFT and Winsome on an arms-

length basis and no finder’s fee is payable by LIFT in connection with the transaction, other than

certain customary investment banking advisory fees.

In connection with the completion of the transaction, the 6, 085,300 subscription receipts issued

by LIFT pursuant to the financing completed and announced by LIFT on January 29, 2026 have

been converted into the same number of LIFT common shares, and the net proceeds from the

sale of such subscription receipts have been released from escrow to the Company.

LIFT has also completed its admission to the official list of the Australian Securities Exchange

(“ASX”). LIFT CDIs will commence trading on ASX under the ticker “LFT”, with each CDI

representing one common share in LIFT . Quotation of the CDIs is “expected” to commence on

Tuesday, May 26, 2026. LIFT remains listed on the TSX Venture Exchange (“TSXV”) under the

symbol “LIFT”, providing the combined company with access to a broader pool of institutional

and retail investors across Canada and Australia.

Francis MacDonald, President and CEO of LIFT, commented: “The completion of the Winsome

acquisition is a transformative milestone for LIFT and our shareholders. With Adina now part of

our portfolio, alongside our flagship Yellowknife Lithium Project and the Galinée property, we have

established a leading platform of high value spodumene assets in Canada. We welcome

Winsome shareholders and employees to the combined company and look forward to advancing

development across our enhanced portfolio.”

About LIFT

LIFT is focused on developing a portfolio of hard rock lithium assets in Canada, with core

development assets in both Quebec and the Northwest Territories. The Company owns the

Yellowknife Lithium Project in the Northwest Territories and the Adina Lithium Project in the

Eeyou Istchee James Bay region of Quebec. LIFT also holds early-stage exploration properties in

both jurisdictions.

For further information, please contact:

Francis MacDonald Daniel Gordon

Chief Executive Officer Investor Relations Manager

Tel: + 1.604.609.6185 Tel: +1.604.609.6185

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

Website: www.li-ft.com

Cautionary Statement Regarding Forward-Looking Information

Certain statements included in this press release constitute forward -looking information or

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

expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, “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. The forward-looking statements in this press release relate to, among other

things, the issuance of LIFT common shares and CDIs as consideration for the acquisition of

Winsome ordinary shares and options, including the timing thereof, the timing for the

commencement of trading of LIFT CDIs on the ASX and the advancement of LIFT’s portfolio of

mineral properties. These forward -looking statements and information reflect management's

current beliefs and are based on assumptions made by and information currently available to the

company with respect to the matter described in this new release.

Forward-looking statements involve risks and uncertainties, which are based on current

expectations as of the date of this release and subject to known and unknown risks and

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 April

27, 2026, 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

the future. Forward -looking statements contained herein are made only as to the date of this

press release and we undertake no obligation to update or revise any forward-looking statements

whether as a result of new information, future events or otherwise, except as required by law. We

caution investors not to place considerable reliance on the forward-looking statements contained

in this press release.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in

the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of

this news release.