Company: FMST
Filing Date: 2025-07-28
Form Type: DRS
Source: 0001171843-25-004725
Chunk: 23

Company: Foremost Clean Energy Ltd.
Filing Date: 2025-07-28
Form: DRS
Chunk 23
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 particular terms and provisions of the Preferred
Shares as may be offered pursuant to this Prospectus will be set forth in the applicable Prospectus Supplement pertaining to such offering
of Preferred Shares, and the extent to which the general terms and provisions described below may apply to such Preferred Shares will
be described in the applicable Prospectus Supplement. Preferred Shares may be offered separately or together with other Securities, as
the case may be.

The Preferred Shares of each class or series will
be entitled, with respect to the payment of dividends and the distribution of assets or return of capital in the event of liquidation,
dissolution or winding-up of our business, or any other return of capital or distribution, to a preference over the Common Shares and
over any other of our shares ranking by their terms junior to the Preferred Shares of that class or series. The Prospectus Supplement
relating to the Preferred Shares offered will contain a description of the specific terms of that class or series of Preferred Shares
as fixed by the Board, including, as applicable:

| · | the number of Preferred Shares offered and the offering price of the Preferred Shares; |

| · | the designation and any stated value of the Preferred Shares; |

| · | the dividend rate(s), period(s) and/or payment date(s) or method(s) of calculation of such rates, periods 
 or dates applicable to the Preferred Shares;                                                              |

| · | the date from which dividends on the Preferred Shares will accumulate, if applicable; |

| · | the liquidation rights of the Preferred Shares; |

| · | the procedures for auction and remarketing, if any, of the Preferred Shares; |

| · | the sinking fund provisions, if applicable, for the Preferred Shares; |

| · | the redemption provisions, if applicable, for the Preferred Shares; |

| 10 |

| · | whether the Preferred Shares will be convertible into or exchangeable for other securities and, if so,                                  
 the terms and conditions of the conversion or exchange, including the conversion price or exchange ratio and the conversion or exchange 
 period (or the method of determining the same);                                                                                         |

| · | whether the Preferred Shares will have voting rights and the terms of any voting rights; |

| · | whether the Preferred Shares will be listed on any securities or stock exchange or on any automated dealer 
 quotation system;                                                                                          |

| · | whether the Preferred Shares will be issued with any other securities and, if so, the amount and terms 
 of these securities; and                                                                               |

|