Company: FMST
Filing Date: 2025-07-08
Form Type: POS AM
Source: 0001171843-25-004344
Chunk: 47

Company: Foremost Clean Energy Ltd.
Filing Date: 2025-07-08
Form: POS AM
Chunk 47
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 This summary
does not address the U.S. federal, state or local tax consequences to non-U.S. Holders arising from or relating to the acquisition, ownership
and disposition of Common Share Units, Pre-Funded Warrant Units, common shares, Pre-Funded Warrants, Common Share Purchase Warrants and
Warrant Shares. Accordingly, a non-U.S. Holder should consult its own tax advisors regarding the U.S. federal, state or local and non-U.S.
tax consequences (including the potential application of and operation of any income tax treaties) relating to the acquisition, ownership
and disposition of Common Share Units, Pre-Funded Warrant Units, common shares, Pre-Funded Warrants, Common Share Purchase Warrants and
Warrant Shares.

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 Share Units, Pre-Funded Warrant Units, common shares, Pre-Funded
Warrants, Common Share Purchase Warrants and Warrant Shares as part of a straddle, hedging transaction, conversion transaction, constructive
sale, or other integrated transaction; (f) acquire Common Share Units, Pre-Funded Warrant Units, common shares, Pre-Funded Warrants, Common
Share Purchase Warrants and Warrant Shares in connection with the exercise of employee stock options or otherwise as compensation for
services; (g) hold Common Share Units, Pre-Funded Warrant Units, common shares, Pre-Funded Warrants, Common Share Purchase Warrants and
Warrant Shares other than as a capital asset within the meaning of Section 1221 of the Code (generally, property held for investment purposes);
(h) are subject to the alternative minimum tax; (i) are subject to special tax accounting rules with respect to the Common Share Units,
Pre-Funded Warrant Units