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

Company: Foremost Clean Energy Ltd.
Filing Date: 2025-07-28
Form: DRS
Chunk 28
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 Receipt Agreement. Prospective investors should refer to the Subscription Receipt Agreement relating to the specific Subscription
Receipts being offered for the complete terms of the Subscription Receipts. We will file a copy of any Subscription Receipt Agreement
relating to an offering of Subscription Receipts with the SEC and such Subscription Receipt Agreement will be available electronically
at www.sec.gov/edgar.

#### General
The Prospectus Supplement and the Subscription Receipt
Agreement for any Subscription Receipts that we may offer will describe the specific terms of the Subscription Receipts offered. This
description may include, but may not be limited to, any of the following, if applicable:

| · | the designation and aggregate number of Subscription Receipts being offered; |

| · | the price at which the Subscription Receipts will be offered; |

| 13 |

| · | the designation, number and terms of the Equity Securities, Debt Securities, Warrants, Units or any combination                          
 thereof to be received by the holders of Subscription Receipts upon satisfaction of the release conditions, and any procedures that will 
 result in the adjustment of those numbers;                                                                                               |

| · | the conditions (the “Release Conditions”) that must be met in order for holders of                                                            
 Subscription Receipts to receive, for no additional consideration, the Equity Securities, Debt Securities, Warrants, Units or any combination 
 thereof;                                                                                                                                      |

| · | the procedures for the issuance and delivery of the Equity Securities, Debt Securities, Warrants, Units     
 or any combination thereof to holders of Subscription Receipts upon satisfaction of the Release Conditions; |

| · | whether any payments will be made to holders of Subscription Receipts upon delivery of the Equity Securities, 
 Debt Securities, Warrants, Units or any combination thereof upon satisfaction of the Release Conditions;      |

| · | the identity of the Escrow Agent; |

| · | the terms and conditions under which the Escrow Agent will hold all or a portion of the gross proceeds                         
 from the sale of Subscription Receipts, together with interest and income earned thereon (collectively, the “Escrowed Funds”), 
 pending satisfaction of the Release Conditions;                                                                                |

| · | the terms and conditions pursuant to which the Escrow Agent will hold Equity Securities, Debt Securities, 
 Warrants, Units or any combination thereof pending satisfaction of the Release Conditions;                |

| · | the terms and conditions under which the Escrow Agent will release all or a portion of the Escrowed Funds 
 to us upon satisfaction of the Release Conditions;