Company: FMST
Filing Date: 2025-02-28
Form Type: 424B3
Source: 0001171843-25-001157
Chunk: 23

Company: Foremost Clean Energy Ltd.
Filing Date: 2025-02-28
Form: 424B3
Chunk 23
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 $        |     - |     |           |       - |     |         |       - |     |           |       - |   |     |             |       - |   |     |           |       - |     |             |       - |
| Total                                   |     |          |       |     |           | 211,300 |     |         | 238,500 |     |           | (36,000 | ) |     |             | (80,300 | ) |     |           | 333,500 |     |             | 333,500 |
| Weighted average exercise price         |     |          |       |     | $         |   10.81 |     | $       |    5.87 |     | $         |    4.70 |   |     | $           |    9.95 |   |     | $         |    7.38 |     | $           |    7.38 |
| Weighted average remaining life (years) |     |          |       |     |           |    2.57 |     |         |         |     |           |         |   |     |             |         |   |     |           |    2.61 |     |             |         |

The average market price of the options exercised was $ per share.

The fair value of stock options granted was calculated using the Black-Scholes option pricing model with the following weighted average assumptions.

|                                                        |     |   | For the nine 
 months ended 
 December 31, 
         2024 |   |     |   | For the year 
        ended 
    March 31, 
         2024 |   |
|:-------------------------------------------------------|:----|:--|-------------:|:--|:----|:--|-------------:|:--|
| Fair value per option                                  |     | $ |         2.13 |   |     | $ |         5.42 |   |
| Exercise price                                         |     | $ |         2.96 |   |     | $ |         5.49 |   |
| Expected life (years)                                  |     |   |         4.23 |   |     |   |         3.50 |   |
| Interest rate                                          |     |   |         3.14 | % |     |   |         4.17 | % |
| Annualized volatility (based