Li-ft Power Ltd. · TSXV:LIFT
Li-ft Power — Merger or Acquisition (December 2025)
32 slides from Li-ft Power's merger presentation, Dec 15, 2025
Slide 1: Li-FT Power Agrees to Combine with Winsome Resources and Acquire Majority Interest in Galinée
Li-FT Power Agrees to Combine with Winsome Resources and Acquire Majority Interest in the Galinée Property to Unlock Value at the Tier-One Adina Project TSXV: LIFT OTCQX: LIFFF FRA: WS0 www.li-ft.com ASX: WR1 OTCQB: WRSLF FRA: 4XJ winsomeresources.com.au December 2025
Slide 2: Disclaimer
Disclaimer LEGAL DISCLAIMER This is a joint presentation (Presentation) by Li-FT Power Ltd (Li-FT) and Winsome Resources Limited (Winsome) dated December 15, 2025. This Presentation has been prepared in relation to: (1) the proposed acquisition by Li-FT of Winsome by way of a share scheme of arrange
Slide 3: Disclaimer (Continued)
Disclaimer (Continued) FORWARD LOOKING STATEMENTS (Continued) There is no certainty that Li-FT will complete the financings described herein nor whether the conditions to the conversion of the subscription receipts to be issued by Li-FT will be satisfied. Additionally, there are currently no binding
Slide 4: Disclaimer (Continued)
Disclaimer (Continued) CAUTIONARY NOTE REGARDING TECHNICAL DISCLOSURE CONCERNING LI-FT PROPERTIES The technical and scientific information in this Presentation related to Li-FT’s projects has been reviewed and approved by Ron Voordouw, Ph.D., P.Geo., Partner, Director Geoscience, Equity Exploration
Slide 5: Transaction Summary
Transaction Summary RECOMMENDED ACQUISITION OF WINSOME RESOURCES COMBINED PORTFOLIO • Li-FT Power Ltd (“Li-FT”) to acquire 100% of the issued shares in Winsome Resources Limited (“Winsome”) by way of scheme of arrangement under the Australian Corporations Act (the “Winsome Transaction”) YELLOWKNIFE
Slide 6: Transaction Rationale
Transaction Rationale UNLOCKING VALUE AT • Potential to significantly enhance Adina’s scale and project economics by integrating Galinée, ADINA & GALINÉE potentially expanding the mineral resource and increasing open-pittable resources • The Winsome Transaction and Galinée Acquisition have the suppo
Slide 7: Benefits to Shareholders
Benefits to Shareholders Benefits to Li-FT Shareholders Benefits to Winsome Shareholders ✓ Portfolio Growth: Strengthens Li-FT’s strategy to build a ✓ Attractive Premium: 62% premium to Winsome’s last closing leading portfolio of high-value spodumene assets in Canada price (A$0.310 per share) and 68
Slide 8: Key Terms of the Combination with Winsome
Key Terms of the Combination with Winsome • Li-FT to acquire 100% of the issued securities of Winsome pursuant to Australian share and option schemes of arrangement under the Australian PROPOSED Corporations Act (the “Winsome Schemes”) TRANSACTION • The Winsome Board unanimously recommends that Wins
Slide 9: Key Terms of the Galinée Acquisition
Key Terms of the Galinée Acquisition1 • Li-FT to acquire a 75% and controlling interest in Galinée Current Ownership Structure PROPOSED – 50% interest from Azimut Exploration TRANSACTION – 25% interest from SOQUEM (remaining 25% interest to be held by SOQUEM) Azimut SOQUEM • Upfront consideration: –
Slide 10: Pro Forma Asset Portfolio
Pro Forma Asset Portfolio ADINA-GALINÉE PROJECT YELLOWKNIFE PROJECT Québec, Canada Northwest Territories, Canada • Top-tier, near-surface hard rock spodumene deposit • Inferred MRE: 50.4Mt at 1.00% Li2O2 • Indicated Resource (Adina): 61.4Mt at 1.14% Li2O1 • Excellent transport infrastructure – • Inf
Slide 11: Adina & Galinée
Adina & Galinée Two Properties Under Separate Ownership That Should be Developed Together Adina • Ownership: 100% Winsome • Size: 44 km2 Québec • Indicated Resource: 61.4 Mt at 1.14% Li2O (1.73 Mt LCE)1 • Inferred Resource: 16.5 Mt at 1.19% Li2O (0.49 Mt LCE)1 Winsome Claims Azimut/SOQUEM Claims Ind
Slide 12: What Happens When You Combine Adina & Galinée?
What Happens When You Combine Adina & Galinée? Eliminating the Existing Constraint on Adina Has the Potential to Materially Increase the Mineral Resource Adina Pit Design1 vs. Pegmatites Shell Commentary • Winsome’s Adina deposit currently hosts a resource of 61.4 Mt at 1.14% Li2O (Indicated) and 16
Slide 13: Enhanced Capital Markets Profile
Enhanced Capital Markets Profile Dual Listing, a Deep Institutional Share Registry and Increased Research Coverage Pro Forma Share Structure1 Pro Forma Ownership (FD ITM)1,2 Li-FT Winsome Combined Company Standalone At Offer3 Pro Forma3,4 Basic Shares Outstanding 50,351,2675 243,968,451 78,289,638 I
Slide 14: Benchmarking
Benchmarking Positioned as a Leading Canadian Hard Rock Lithium Developer M&I Resources 1.10 Inf. Resources WR1 Ind. Resources WR1 Inf. Resources 0.49 1 Li-FT Inf. Resources (Mt LCE) 1.25 1 3.74 0.49 0.64 1 1 1.73 1.73 0.33 1.25 1.33 0.05 0.70 0.10 0.23 0.45 Key Asset Name Shaakichiuwaanaan Adina &
Slide 15: Adina-Galinée Development Plan
Adina-Galinée Development Plan Drilling Resource Technical & Baseline Studies • 30,000m drill campaign • Commence work on a • Start feasibility study scheduled for Q2-Q4 combined Adina-Galinee immediately after 2026 resource estimate during resource estimate • Delineate initial Galinée the Winsome T
Slide 16: Indicative Timeline
Indicative Timeline Period: Dec ‘25 Jan ’26 Feb ‘26 Mar ‘26 Apr ‘26 2026 2027+ ⚫ Scheme Period ⚫ Capital Raising ⚫ Scheme Booklet Lodged with ASIC ⚫ Court Hearings ⚫ Winsome Shareholder Vote ⚫ Winsome Record Date ⚫ Effective Date ⚫ Li-FT Lists on ASX ⚫ Implementation Date/Closing ⚫ Renard Assessment
Slide 17: Combined Company Leadership Team
Combined Company Leadership Team Proven Leadership Team with a Demonstrated Track Record of Value Creation in the Lithium Sector Francis MacDonald Anthony Tse Andrew Marshall President, CEO & Director Executive Chairman CFO 15+ years of experience in the 30 years of private and public corporate 20+
Slide 18: Asset Portfolio
Asset Portfolio www.li-ft.com www.li-ft.com
Slide 19: Overview of Adina
Overview of Adina Strong Foundation for Future Development Tier-1 Asset Project History • Strategically located in the Eeyou Istchee James Bay region of Quebec November 2021 – ~60 km north of the Renard mine and road network, providing WR1 Listed on the ASX access to established infrastructure Octob
Slide 20: Adina Lithium Project
Adina Lithium Project1 Low Strip Ratio High grade zones accessible by open pit conventional mining, near surface mineralisation Image: Cross Section 669000mE showing Mineral Resource means low strip ratio blocks and Phase 1 – 3 Pit Designs Strip Ratio Pit Phase A B (W : O) Phase 3 Phase 1 Phase 2 Ph
Slide 21: Adina Lithium Project: Simple Process Flowsheet
Adina Lithium Project Simple Process Flowsheet • Simple processing means lower cost and lower start up risk Spodumene Concentrate can be Produced using DMS ✓ Simple mineralogy - lithium contained in spodumene which separates well from lighter quartz and feldspar crystals using DMS ✓ Large spodumene
Slide 22: Adina Lithium Project: Transport to Port
Adina Lithium Project Transport to Port • CMIF funding in place for study of Trans Atikh road to link Adina to Quebec road network • Transportation of concentrate will take place along existing, well-maintained roads • Transport is on national sealed highways from Chibougamau • Alternatively, there
Slide 23: Exploration Upside at Adina
Exploration Upside at Adina Adina Mineral Resource1 Adina Project Claim Boundary ✓ Total of 186 diamond drill holes for 57,756m incorporated into MRE ✓ Adina JORC MRE stands at 61.4 Mt at 1.14% Li2O (Indicated) & 16.5 Mt at 1.19% Li2O (Inferred) ✓ 78% or 61.4 Mt classified into the JORC Indicated ca
Slide 24: Yellowknife
Yellowknife Infrastructure in an Established District • The Yellowknife Lithium Project is accessible by road from the city of Yellowknife • Spodumene concentrate can be shipped to rail at Hay River by road or by barge in summer Ingraham Trail Barge between Hay River and Yellowknife A C CN Railroad
Slide 25: Canadian Railway Infrastructure
Canadian Railway Infrastructure Ports easily accessible ADINA-GALINÉE PROJECT Chibougamau 25
Slide 26: Yellowknife Lithium Project
Yellowknife Lithium Project Visible from Space Abundant outcrop with almost complete exposure sets the Yellowknife Project apart Size potential and lithium grades are readily apparent based on outcrop exposure 26
Slide 27: Yellowknife Lithium Project: Mineral Resource Estimate
Yellowknife Lithium Project1 Mineral Resource Estimate • Estimate includes 286 drill holes or 50,000 m of drilling • Includes 8 of the 13 pegmatites across Li- FT’s land package, east of Yellowknife • 50.4 Mt at 1.0% Li2O of inferred resource category • Six of the eight dykes remain open in spodumen
Slide 28: Yellowknife Metallurgy
Yellowknife Metallurgy1 79% recoveries producing high-quality spodumene concentrate grading 5.83% Li2O Summary of Results • Global average recovery across all deposits on a Sample Flowsheet Wt. Grade (%) Recovery (%) (%) Li Li2O Fe2O3 Li Fe2O3 DMS + flotation circuit is 79.1% BigE 21.1 2.7 5.79 0.76
Slide 29: Appendix
Appendix www.li-ft.com www.li-ft.com
Slide 30: Li-FT Resources (Yellowknife)
Li-FT Resources (Yellowknife) Indicated Inferred Total Li20 Li20 Li20 Zone Tonnes (Mt) Tonnes (Mt) Tonnes (Mt) (%) (%) (%) Big East - - 16.5 1.06% 16.5 1.06% Fi Main & Fi Sw - - 13.8 1.03% 13.8 1.03% Shorty - - 5.2 1.01% 5.2 1.01% Echo - - 6.2 0.94% 6.2 0.94% Ki - - 2.8 0.91% 2.8 0.91% Nite - - 4.6
Slide 31: Winsome Resources (Adina)
Winsome Resources (Adina) Indicated Inferred Total Li20 Li20 Li20 Zone Tonnes (Mt) Tonnes (Mt) Tonnes (Mt) (%) (%) (%) Main 28.4 1.19% 8.7 1.37% 37.1 1.23% Footwall 33.0 1.10% 7.8 0.98% 40.8 1.08% Total 61.4 1.14% 16.5 1.19% 77.9 1.15% Note: The mineral resource estimate (the “Adina MRE”) for Adina
Slide 32: Resource References (Comparables)
Resource References (Comparables) PMET Resources: PMET Resources MRE has an effective date of October 20, 2025. For more information refer to PMET's NI 43-101 Technical Report entitled "CV5 Pegmatite Lithium-Only Feasibility Study NI 43-101 Technical Report Shaakichiuwaanaan Project". More details h