POWER METALS CORP. — Proxy Solicitation & Information Statement 2026

Apr 9, 2026

CUC

You've got the power

Paribbean Utilities Company, Ltd.

(the "Company")

Proxy Voting – Guidelines and Conditions

1. THIS PROXY IS SOLICITED BY OR ON BEHALF OF THE MANAGEMENT OF THE COMPANY.
2. THIS PROXY SHOULD BE READ IN CONJUNCTION WITH THE MEETING MATERIALS PRIOR TO VOTING.
3. If you appoint the Management Nominees indicated on the reverse to vote on your behalf, they must also vote in accordance with your instructions or, if no instructions are given, in accordance with the Voting Recommendations highlighted for each Resolution on the reverse. If you appoint someone else to vote your securities, they will also vote in accordance with your instructions or, if no instructions are given, as they in their discretion choose.
4. This proxy confers discretionary authority on the person named to vote in their discretion with respect to amendments or variations to the matters identified in the Notice of the Meeting accompanying the proxy or such other matters which may properly come before the meeting or any adjournment or postponement thereof.
5. The securityholder has a right to appoint a person or company to represent the securityholder at the meeting other than the person or company designated in the form of proxy. Such right may be exercised by inserting, on the reverse of this form, in the space labeled "Please print appointee name", the name of the person to be appointed, who need not be a securityholder of the Company.
6. To be valid, this proxy must be signed. Please date the proxy. If the proxy is not dated, it is deemed to bear the date of its mailing to the securityholders of the Company.
7. To be valid, this proxy must be filed using one of the Voting Methods and must be received by TSX Trust Company before the Filing Deadline for Proxy, noted on the reverse or in the case of any adjournment or postponement of the meeting not less than 48 hours (Saturdays, Sundays and holidays excepted) before the time of the adjourned or postponed meeting. Late proxies may be accepted or rejected by the Chair of the meeting in their discretion, and the Chair is under no obligation to accept or reject any particular late proxy.
8. If the holder is a corporation, the proxy must be executed by an officer or attorney thereof duly authorized, and the holder may be required to provide documentation evidencing the signatory's power to sign the proxy.
9. Guidelines for proper execution of the proxy are available at www.stac.ca. Please refer to the Proxy Protocol.

Annual General Meeting

May 11, 2026 at 3:00 p.m. (Cayman time)

The Hotel Indigo, 32 Seafire Way, West Bay, Grand Cayman, Cayman Islands & meetings.lumiconnect.com/400-719-424-928

(the "Meeting")

Electronic Delivery

If you are a registered securityholder and wish to enroll for electronic delivery for future issuer communications including meeting related materials, financial statements, DRS, etc., where applicable, you may do so:

1. After you vote online at https://www.meeting-vote.com using your 13-digit control number.
2. Through TSX Trust's online portal, Investor Central. You may log in or enroll at services.tsxtrust.com/edelivery

VOTING METHOD
INTERNET	Go to https://www.meeting-vote.com and enter the 13 digit control numbers above
FACSIMILE	416-607-7964
MAIL or HAND DELIVERY	TSX Trust Company
BY MAIL: Proxy Department, P.O. Box 721, Agincourt, ON M1S 0A1
BY HAND: 301 - 100 Adelaide Street West, Toronto, Ontario, M5H 4H1
Investor Central
TSX Trust Company offers at no cost to holders, the convenience of secure 24-hour access to all data relating to their account including summary of holdings, transaction history, and links to valuable holder forms and Frequently Asked Questions.
To register, please visit: https://www.tsxtrust.com/icreg and complete the registration form.
For assistance, please contact TSX TRUST INVESTOR SERVICES.
Mail: 301 - 100 Adelaide Street West Toronto, ON, M5H 4H1
Tel: 1-800-387-0825 or 416-682-3860
Email: shareholderinquiries@tmx.com

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TMX

TSX TRUST

FORM OF PROXY ("PROXY")

Caribbean Utilities Company, Ltd.
(the "Company")

Annual General Meeting
May 11, 2026 at 3:00 p.m. (Cayman time)
The Hotel Indigo, 32 Seafire Way, West Bay, Grand Cayman, Cayman Islands & meetings.lumiconnect.com/400-719-424-928

SECURITY CLASS: CLASS A
RECORD DATE: March 20, 2026
FILING DEADLINE FOR PROXY: May 7, 2026 at 3:00 p.m. (Cayman time)

APPOINTEES

The undersigned hereby appoints J.F. Richard Hew, President of the Company, whom failing Letitia T. Lawrence, Chief Financial Officer of the Company, or failing both of them, Claire J. Stafford, Company Secretary of the Company (the "Management Nominees"), or instead of any of them, the following Appointee

Please print appointee name

as proxyholder on behalf of the undersigned with the power of substitution to attend, act and vote for and on behalf of the undersigned in respect of all matters that may properly come before the meeting and at any adjournment(s) or postponement(s) thereof, to the same extent and with the same power as if the undersigned were personally present at the said meeting or such adjournment(s) or postponement(s) thereof in accordance with voting instructions, if any, provided below.

• SEE VOTING GUIDELINES ON REVERSE -

RESOLUTIONS - VOTING RECOMMENDATIONS ARE INDICATED BY HIGHLIGHTED TEXT ABOVE THE BOXES

1. Election of Directors		FOR	WITHHOLD
a)	Jennifer P. Dilbert	☐	☐
b)	Sheree L. Ebanks	☐	☐
c)	Woodrow S. Foster	☐	☐
d)	Jennifer Frizzelle	☐	☐
e)	Sophia A. Harris	☐	☐
f)	J. F. Richard Hew	☐	☐
g)	Stuart Lochray	☐	☐
h)	Mark R. Macfee	☐	☐
i)	Kay Menzies	☐	☐
j)	Regan O'Dea	☐	☐
k)	David A. B. Smailes	☐	☐
l)	Gary J. Smith	☐	☐
2. Appointment of Auditor		FOR	WITHHOLD
Appointment of Deloitte LLP as auditors of the Company and authorization of the board of directors of the Company to fix the auditors' compensation		☐	☐
3. Approval of Revised Board Compensation Structure		FOR	AGAINST
Resolution to approve the adoption of a revised compensation structure of the board of directors of the Company and its committees		☐	☐

This proxy revokes and supersedes all earlier dated proxies and MUST BE SIGNED

PLEASE PRINT NAME

Signature of registered owner(s)

Date (MM/DD/YYYY)