Company: FMST
Filing Date: 2025-07-28
Form Type: DRS
Source: 0001171843-25-004725
Chunk: 13

Company: Foremost Clean Energy Ltd.
Filing Date: 2025-07-28
Form: DRS
Chunk 13
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 will have the expected consequences
or effects on our business, financial condition or results of operation. Unless otherwise noted or the context otherwise indicates, the
forward-looking statements contained herein or incorporated by reference are provided as of the date hereof or the date of the document
incorporated by reference, and we do not undertake to update or amend such forward-looking statements whether as a result of new information,
future events or otherwise, except as may be required by applicable law.

| 4 |

### STATUS AS AN EMERGING GROWTH COMPANY
We are an “emerging growth company” as
defined in Section 3(a) of the United States Securities Exchange Act of 1934, as amended (the “Exchange Act”)
by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”), and we may take advantage of certain exemptions
from various reporting requirements that are applicable to other public companies that are not emerging growth companies. We will continue
to qualify as an “emerging growth company” until the earliest to occur of: (a) the last day of the fiscal year during
which we had total annual gross revenues of US$1,235,000,000 (as such amount is indexed for inflation every 5 years by the SEC) or
more; (b) the last day of our fiscal year following the fifth anniversary of the date of the first sale of equity securities pursuant
to an effective registration statement under the United States Securities Act of 1933, as amended (the “Securities Act”);
(c) the date on which we have, during the previous 3-year period, issued more than US$1,000,000,000 in non-convertible debt; or (d) the
date on which we are deemed to be a “large accelerated filer”, as defined in Exchange Act Rule 12b-2. We expect to continue
to be an emerging growth company for the immediate future.

Generally, a registrant that registers any class of
its securities under Section 12 of the Exchange Act is required to include in the second and all subsequent annual reports filed
by it under the Exchange Act a management report on internal control over financial reporting and, subject to an exemption available to
registrants that are neither an “accelerated filer” or a “large accelerated filer” (as those terms are defined
in Exchange Act Rule 12b-2), an auditor attestation report on management’s assessment of internal