Formation Metals Inc. — Proxy Solicitation & Information Statement 2025

Aug 6, 2025

FORMATION METALS

NOTICE OF ANNUAL GENERAL MEETING OF SHAREHOLDERS

NOTICE IS HEREBY GIVEN that the annual general meeting (the “Meeting”) of the holders of common shares of Formation Metals Inc. (the “Company”) will be held on Friday, August 29, 2025 at 10:00 am (Pacific Time) via Microsoft Teams for the following purposes:

1. To receive the audited financial statements of the Company for the financial year ended March 31, 2025, the auditor’s report thereon and the management’s discussion and analysis for the financial year ended March 31, 2025;
2. To fix the number of directors for the ensuing year at three (3);
3. To elect directors of the Company for the ensuing year;
4. To appoint Horizon Assurance LLP, Chartered Professional Accountant, as auditor of the Company for the ensuing year and to authorize the board of directors to fix the auditor’s remuneration;
5. To consider and, if thought advisable, pass an ordinary resolution to ratify and approve the Company’s 10% rolling amended stock option plan, as described in the Company’s management information circular (the “Circular”);
6. To consider and, if thought advisable, pass an ordinary resolution to ratify and approve the Company’s 10% rolling amended restricted share unit plan, as described in the Company’s Circular; and
7. To transact such other business as may properly come before the Meeting or at any adjournment thereof.

Accompanying this notice is the Circular. The Circular contains details of matters to be considered at the Meeting.

The Meeting will be held in virtual only format, which will be conducted via Microsoft Teams. The Company is offering shareholders the ability to listen and participate (but not vote) at the Meeting in real time. Registered shareholders and validly appointed proxyholders may attend the Meeting at:

Meeting Link: https://www.microsoft.com/en-ca/microsoft-teams/join-a-meeting
Meeting ID: 220 966 472 734 7
Passcode: 5ZM3gi7F

Shareholders who wish to ensure that their common shares will be voted at the Meeting, must complete, date and execute the enclosed form of proxy, or another suitable form of proxy, and deliver it by hand, by mail or by fax in accordance with the instructions set out in the form of proxy and in the Circular accompanying this Notice of Meeting.

If you have any questions about the procedures required to qualify to vote at the Meeting or about obtaining and depositing the required form of Proxy, you should contact Computershare Investor Services Inc. at 1-800-564-6253.

DATED at Vancouver, British Columbia, this 23rd day of July, 2025.

FORMATION METALS INC.

“Deepak Varshney”

Deepak Varshney
CEO