FRONTIER LITHIUM INC. — Capital/Financing Update 2026

Apr 8, 2026

Frontier Lithium Inc.
Treasury Offering of Units
April 8, 2026

The Units will be offered by way of a short form prospectus in all of the provinces of Canada, other than Quebec. A preliminary short form prospectus containing important information relating to the Units has not yet been filed with the applicable Canadian securities regulatory authorities. A copy of the preliminary short form prospectus will be accessible through SEDAR+. A copy of the preliminary short form prospectus may be obtained from BMO Capital Markets at Brampton Distribution Centre C/O The Data Group of Companies, 9195 Torbram Road, Brampton, Ontario, L6S 6H2 by telephone at 905-791-3151 Ext 4312 or by email at torbramwarehouse@datagroup.ca. There will not be any sale or any acceptance of an offer to buy the Units until a receipt for the final short form prospectus has been issued. This term sheet does not provide full disclosure of all material facts relating to the Units. Investors should read the preliminary short form prospectus, final short form prospectus and any amendment, for disclosure of those facts, especially risk factors relating to the Units, before making an investment decision.

Terms and Conditions

Issuer: Frontier Lithium Inc. (the "Company")

Offering: Treasury offering of 20,000,000 units ("Units")
Each Unit consists of one common share of the Company (a "Common Share") and half of one common share purchase warrant of the Company (each whole common share purchase warrant, a "Warrant"). Each Warrant will entitle the holder to acquire one Common Share (a "Warrant Share") at an exercise price of C$1.00 for a period of 24 months following the Closing Date.

Offering Price: C$0.75 per Unit

Issue Amount: C$15,000,000

Over-Allotment Option: The Company has granted the Underwriters an option, exercisable, in whole or in part, at any time until and including 30 days following the closing of the Offering, to purchase up to an additional 15% of the Offering at the Offering Price to cover over-allotments, if any. Securities sold on exercise of the over-allotment option may be comprised of additional Units, Common Shares, Warrants or any combination thereof.

Use of Proceeds: The net proceeds of the Offering will be used for advancing the PAK Lithium Project. These funds will support the completion of an updated mine and mill technical report, facilitate activities related to government-funded or cost-shared infrastructure initiatives, permitting, advancement of Lithium Conversion Study and cover general administrative as well as corporate expenses.

Form of Offering: Bought deal by way of a short-form prospectus to be filed in all provinces of Canada, other than Quebec. U.S. sales by private placement via Rule 144A.

Listing: The outstanding Common Shares are listed on the TSX Venture Exchange (the "TSXV") under the symbol "FL". An application will be made to list the Common Shares and Warrant Shares on the TSXV. The Warrants will also be listed on a reasonable best efforts basis.

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Eligibility: Eligible for RRSPs, RRIFs, RESPs, TFSAs, RDSPs, DPSPs and FHSAs.

Sole Bookrunner: BMO Capital Markets

Commission: 6.0% cash plus 6.0% broker warrants (exercisable to acquire one Unit at the Offering Price for a period of 24 months after Closing).

Closing: April 22, 2026