International Lithium Corp. AGM Chairman's Statement

Core Viewpoint - 2025 has been a successful year for International Lithium Corp. (ILC), marked by a significant turnaround in the lithium market from June onwards, alongside strategic expansions into other critical minerals [2][3]. Company Developments - ILC completed the sale of its Avalonia property in Ireland, generating C$2.5 million, which was reinvested into the Namibian project and other initiatives [8]. - The company acquired an option to buy Lepidico's 100% interest in Lepidico Mauritius for C$975,000, which includes an 80% interest in the Karibib project in Namibia, known for its substantial rubidium and cesium resources [6][8]. - The flagship Raleigh Lake project in Ontario remains economically viable at current spodumene prices and also contains significant rubidium resources [5][10]. Market Insights - The lithium market experienced a challenging first half in 2025, with prices dropping to about 10% of 2023 highs, but saw a recovery in the second half, with spodumene prices rising over 100% and lithium carbonate prices increasing by approximately 65% from June lows [3][4]. - The rebound in lithium prices has been largely overlooked, yet it has outperformed precious metals, indicating a positive trend for the lithium sector [4]. Future Outlook - The positive developments in 2025 and the recovery in lithium prices suggest a strong potential for ILC in 2026, especially if the company exercises its option to acquire Lepidico Mauritius, which would significantly enhance its resource portfolio [9][10]. - The Karibib project could provide ILC with a world-class resource in rubidium and one of the largest cesium deposits not controlled by a Chinese company, positioning the company for substantial growth [9].