Future Fuels Inc. — Capital/Financing Update 2026

Apr 10, 2026

FORM 51-102F3
MATERIAL CHANGE REPORT

Item 1: Name and Address of Company

Future Fuels Inc. (the “Company”)
Suite 1450, 789 West Pender Street
Vancouver, BC V6C 2T7

Item 2: Date of Material Change

April 8, 2026

Item 3: News Release

A news release dated April 8, 2026 was disseminated via Accesswire and subsequently filed on SEDAR+.

Item 4: Summary of Material Change

On April 8, 2026, the Company announced the closing of its previously announced non-brokered private placement pursuant to which the Company issued an aggregate of 2,469,135 “flow-through” units of the Company (each, an “FT Unit”, and collectively, the “FT Units”) at a price of C$0.81 per FT Unit (the “LIFE Offering”) for gross proceeds of $2,000,000 under the Listed Issuer Financing Exemption.

Item 5 Full Description of Material Change

On April 8, 2026, the Company announced the closing of its previously announced non-brokered private placement pursuant to which the Company issued an aggregate of 2,469,135 FT Units at a price of C$0.81 per FT Unit for gross proceeds of $2,000,000 under the Listed Issuer Financing Exemption. Each FT Unit consists of one charity “flow-through” common share (each, an “FT Share” and collectively, the “FT Shares”) and one common share purchase warrant (each an “FT Warrant” and collectively, the “FT Warrants”), issued as “flow-through shares”, as defined in subsection 66(15) of the Income Tax Act (Canada) (the “Tax Act”). Each FT Warrant is exercisable to acquire one common share (each a “Warrant Share”, and collectively, the “Warrant Shares”) at a price of $1.00 per Warrant Share for a period of 24 months from the date of issuance. The Warrant Shares underlying the FT Units will not qualify as “flow-through shares” under the Tax Act. The FT Warrants to be issued pursuant to the LIFE Offering will not be listed for trading on any stock exchange.

The gross proceeds of the LIFE Offering will be used to incur “Canadian exploration expenses” that are “flow-through critical mineral mining expenditures”, within the meaning of the Tax Act, on the Company’s 100%-owned Hornby Basin Project. The Company will not use any proceeds from the LIFE Offering toward its proposed acquisition of Hatchet Uranium Corp. (the “Acquisition”), as announced on February 26, 2026, or toward any properties intended to be acquired under the Acquisition, until the Company has received approval for the Acquisition from the TSX Venture Exchange.

Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 – Prospectus Exemptions (“NI 45-106”), the LIFE Offering was made to purchasers resident in all provinces of Canada pursuant to the listed issuer financing exemption under Part 5A of NI 45-106 (the “Listed Issuer Financing Exemption”). The securities offered under the LIFE Offering pursuant to the Listed Issuer Financing Exemption are not subject to resale restrictions in accordance with applicable Canadian securities laws.

Item 6: Reliance on subsection 7.1(2) of National Instrument 51-102

N/A

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2

Item 7: Omitted Information

N/A

Item 8: Executive Officer

Rob Leckie, CEO and a Director
604.681.1568
info@futurefuelsinc.com

Item 9: Date of Report

April 9, 2026