FORMATION METALS INC.

NOTICE OF ANNUAL GENERAL MEETING OF SHAREHOLDERS

NOTICE IS HEREBY GIVEN that the annual general meeting (the “ Meeting ”) of the holders of common shares of Formation Metals Inc. (the “ Company ”) will be held on Friday, August 30, 2024 at 11:00 am (Pacific Time) via Microsoft Teams for the following purposes:

To receive the audited financial statements of the Company for the financial years ended March 31, 2024 and 2023, the auditor’s reports thereon and the management’s discussion and analyses for the financial years ended March 31, 2024 and 2023;
To fix the number of directors for the ensuing year at three (3);
To elect directors of the Company for the ensuing year;
To re-appoint Davidson & Company LLP, Chartered Professional Accountants, as auditor of the Company for the ensuing year and to authorize the board of directors to fix the auditor’s remuneration;
To consider and, if thought advisable, pass an ordinary resolution to ratify and approve the adoption of the Company’s 10% rolling amended stock option plan, as described in the Company’s management information circular (the “ Circular ”);
To consider and, if thought advisable, pass an ordinary resolution to ratify and approve the adoption of the Company’s 10% rolling restricted share unit plan, as described in the Company’s Circular; and
To transact such other business as may properly come before the Meeting or at any adjournment thereof.

Accompanying this notice is the Circular. The Circular contains details of matters to be considered at the Meeting.

The Meeting will be held in virtual only format , which will be conducted virtually via Teams. The Company is offering shareholders the ability to listen and participate (but not vote) at the Meeting in real time. Registered shareholders and validly appointed proxyholders may attend the Meeting at:

Meeting Link: https://www.microsoft.com/en-ca/microsoft-teams/join-a-meeting Meeting ID: 276 605 698 046 Passcode: UtYJaG

Shareholders who are unable to attend the Meeting in person and who wish to ensure that their common shares will be voted at the Meeting, must complete, date and execute the enclosed form of proxy, or another suitable form of proxy, and deliver it by hand, by mail or by fax in accordance with the instructions set out in the form of proxy and in the Circular accompanying this Notice of Meeting.

Shareholders who plan to attend the Meeting must follow the instructions set out in the form of proxy and in the Circular to ensure that their common shares will be voted at the Meeting.

If you have any questions about the procedures required to qualify to vote at the Meeting or about obtaining and depositing the required form of Proxy, you should contact Computershare Investor Services Inc. at 1-800-564-6253.

DATED at Vancouver, British Columbia, this 25^th day of July, 2024.