Project’s first long-lead equipment order placed: Bandeira’s substation transformer

Lithium Ionic Corp. (TSXV: LTH) (OTCQX: LTHCF) (FSE: H3N) is pleased to provide an update on development progress at its 100%-owned Bandeira Lithium Project, located in Minas Gerais, Brazil’s globally significant “Lithium Valley.” The Company has placed its first long-lead equipment order at Bandeira, securing the Project’s main substation power transformer, and confirms that overall project engineering has advanced to approximately 65% completion.

The transformer order marks the start of long-lead procurement at Bandeira and an important step from engineering into execution. As one of the longer-lead items on the path to construction, ordering it now supports schedule certainty while the Company advances its broader procurement program and continues to refine the Project’s capital cost estimate.

Recent Progress

• First long-lead equipment order placed at Bandeira, securing the Project’s main substation power transformer from Brazilian manufacturer Blutrafos;
• Overall Engineering has advanced to 65% completion since the Feasibility Study press release from September 17, 2025;
• Geotechnical drilling (1,352m) completed in the project area to support detailed engineering and design;
• Project capital cost estimate being updated as part of the ongoing detailed engineering work;
• Positive community engagement underway with more than 4,500 personnel hours spent in community engagement near Bandeira since late 2025; over 700 attendees have been engaged to date

Blake Hylands, P.Geo., CEO of Lithium Ionic, commented, “Placing our first long-lead order is a tangible signal that Bandeira is moving from the drawing board into execution. With overall engineering now approximately 65% complete and geotechnical work and procurement advancing in parallel, we are steadily de-risking the Project and building momentum toward a construction decision. We’re also proud of the collaborative progress we’ve made with the community to-date and will continue to facilitate a productive dialogue. We are grateful for the community enthusiasm in response to our engagement efforts.”

First Long-Lead Order Placed for Bandeira’s Substation Transformer

The Company has issued its first long-lead equipment order at Bandeira for the main power 138/13.8 kV transformer that will serve the Project’s internal substation, to be supplied by Brazil-based manufacturer Blutrafos. As one of the longer-lead items required ahead of construction, securing it now provides early certainty on a critical-path component and reflects the Company’s transition into the procurement and execution phase of the Project. Lithium Ionic expects to issue further updates as additional long-lead packages move through tendering and award.

Ongoing Community Engagement

Lithium Ionic has invested significant time and resources in building relationships with the neighboring communities of the Bandeira Project. This engagement has been hands-on and community led. Through a series of in-person meetings and participatory workshops, residents have helped shape how the Project advances.

Lithium Ionic also held a series of impact assessment workshops with the community, facilitated by independent consultancy H&P. Through a structured, collective listening process, the workshops mapped impact perceptions associated with the Bandeira Project.

On April 26, 2026, representatives from Lithium Ionic delivered an in-person presentation of the Bandeira Project to the community, a roughly three-hour session attended by 145 people. The team walked through the project’s operational aspects in plain, accessible language, discussed potential socio-environmental impacts alongside the measures planned to prevent and mitigate them, and gave community members space to ask questions and share their views throughout.

At the gatherings, Lithium Ionic has contracted community members themselves to provide catering, transportation, photographic documentation, first aid, and activities for children, reflecting the Company’s commitment to generating local benefit from the earliest stages of engagement. The Company intends to continue prioritizing local hiring, shared prosperity, and open dialogue with its neighbors as Bandeira moves toward construction.

About Lithium Ionic Corp.

Lithium Ionic is a Canadian lithium development company focused on responsibly advancing its 100%-owned Bandeira Lithium Project in Minas Gerais, Brazil, a region coined the “Lithium Valley” that is emerging as a world-class hard-rock lithium district. The Company is executing on a focused development strategy centered on engineering de-risking, permitting advancement, commercial planning, and construction readiness, with the goal of becoming a near-term producer of high-quality spodumene concentrate for global battery supply chains.

Qualified Persons

The contents of this news release have been reviewed and approved by Blake Hylands, P.Geo., CEO and director of Lithium Ionic, who is a “qualified person” as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Mr. Hylands is not considered independent of the Company.