Company: FMST
Filing Date: 2025-07-28
Form Type: DRS
Source: 0001171843-25-004725
Chunk: 43

Company: Foremost Clean Energy Ltd.
Filing Date: 2025-07-28
Form: DRS
Chunk 43
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i) is subject to the
primary supervision of a court within the U.S. and the control of one or more U.S. persons for all substantial decisions or (ii) has a
valid election in effect under applicable Treasury Regulations to be treated as a U.S. person.

U.S. Holders Subject to Special U.S. Federal Income Tax Rules Not Addressed

This summary does not address the U.S. federal income
tax considerations applicable to U.S. Holders that are subject to special provisions under the Code, including, but not limited to, U.S.
Holders that: (a) are tax-exempt organizations, qualified retirement plans, individual retirement accounts, or other tax-deferred
accounts; (b) are financial institutions, underwriters, insurance companies, real estate investment trusts, or regulated investment
companies; (c) are broker-dealers, dealers, or traders in securities or currencies that elect to apply a mark-to-market accounting
method; (d) have a “functional currency” other than the U.S. dollar; (e) own Common Shares as part of a straddle,
hedging transaction, conversion transaction, constructive sale, or other integrated transaction; (f) acquire Common Shares in connection
with the exercise or cancellation of employee stock options or otherwise as compensation for services; (g) hold Common Shares other
than as a capital asset within the meaning of Section 1221 of the Code (generally, property held for investment purposes); (h) are
partnerships and other pass-through entities (and investors in such partnerships and entities); (i) are S corporations (and shareholders
or investors in such S corporations); (j) own, have owned or will own (directly, indirectly, or by attribution) 10% or more of the
total combined voting power or value of our outstanding shares; (k) are U.S. expatriates or former long-term residents of the U.S.
subject to Section 877 or 877A of the Code, (l) hold Common Shares in connection with a trade or business, permanent establishment,
or fixed base outside the United States, (m) are subject to special tax accounting rules with respect to Common Shares, or (n) are
subject to the alternative minimum tax. U.S. Holders that are subject to special provisions under the Code, including, but not limited
to, U.S. Holders described immediately above, should consult their own tax advisor regarding the U.S. federal,