[1]

Earnout Shares (as defined in Note 6 below) are excluded as the vesting terms were not met as of the end of the reporting period.

[2]

The number of shares is based on the maximum number of shares issuable on exercise of the related securities as of the period end. For the three months ended March 31, 2026, amounts reflect only those securities excluded as antidilutive. In-the-money securities have been evaluated under the treasury stock method and are included in diluted weighted average shares outstanding.

[3]

Includes 15,666,526 NioCorp Assumed Warrants (as defined in Note 7c below) (March 31, 2025: 15,666,626) that are each exercisable into 1.11829212 Common Shares. The remaining Warrants are each exercisable into one Common Share.

(4)

For the three months ended March 31, 2026, 4,070,000 Options and 3,435,141 Warrants were determined to be dilutive under the treasury stock method and are included in the calculation of diluted weighted average Common Shares outstanding.