International Battery Metals Ltd. Reports Fourth Quarter and Full Year Fiscal 2026 Financial Results

Continued Advancement Towards Commercial Positioning of Modular Direct Lithium Extraction (DLE) Technology VANCOUVER, BC AND HOUSTON, TX / ACCESS Newswire / June 17, 2026 / International Battery Metals Ltd. ("IBAT" or the "Company") (TSXV:IBAT)(OTCQB:IBATF), an advanced technology provider of modular direct lithium extraction (DLE) systems, today reported financial results for its fourth quarter and full year fiscal 2026, ended March 31, 2026. Joseph Mills, Chief Executive Officer of IBAT, commented: "The fourth quarter was about focus and execution, getting disciplined about where we spend our time and energy, what customers actually need and where IBAT fits in the supply chain. We've done that work, and the results are bearing fruit. The brine testing program we announced in June is the clearest demonstration of that. We have tested brine samples from multiple operators across the Smackover geological formation in Texas and Arkansas, as well as brines from the Middle East and Argentina, and the numbers are consistent. 98% lithium recovery. 99+% contaminant rejection. More than 1,200 cycles on a single column with zero degradation. Those are real-world samples from operators who are actively evaluating their commercial path forward, and our media and technology continue to perform at expected levels. "Every brine is different, and we have now proven our technology holds up across a wide range of compositions. We continue to have ongoing dialogue with several counterparties regarding the deployment of our existing modular DLE plant, and we are optimistic that we will engage to negotiate a commercial agreement soon. We know what our media does, we know how to engineer a deployment efficiently, and we know how to structure a deal that works for both sides. Secure the next deployment, execute well and build IBAT's reputation one project at a time. We remain focused on that objective." Fourth Quarter Fiscal Year 2026 Business Highlights Continued brine testing and technical evaluation activities with prospective customers in the United States, Argentina and the Middle East; Company focused on commercial discussions, including the deployment of the existing MDLE plant; Maintained disciplined cost structure while prioritizing customer engagement and proposal development; Continued positioning of IBAT's modular DLE technology as a scalable component within a broader lithium production flowsheet; Raised an additional $2.0 million of new equity financing. Management remains focused on securing one or more commercial deployments aligned with its overall commercial strategy. Fourth Quarter Financial Highlights (fiscal year 2026 versus fiscal year 2025) Revenue: $63 thousand compared to a reversal of ($11) thousand, reflecting service revenue from brine testing activities. Operating Costs (excluding depreciation): $0.5 million compared to $1.0 million; Selling, General and Administrative Expenses (excluding depreciation): $2.2 million compared to $2.3 million. Operating Income/Loss: loss of ($3.4) million compared to ($4.1) million; Change in Fair Value of Warrant Liability: ($1.4) million loss compared to a $5.3 million gain; Net Income/(Loss) and Basic and Diluted Earnings Per Share (EPS): net loss ($5.3) million, or $(0.02) basic and diluted earnings per share, compared to net income of $0.3 million, or $0.00 basic and diluted earnings per share; Cash: $9.2 million as of March 31, 2026. Full Year Financial Highlights (fiscal year 2026 versus fiscal year 2025) Revenue: $164 thousand compared to $871 thousand, reflecting service revenue from brine testing activities in the current year compared to reimbursable revenue in the prior year; Operating Costs (excluding depreciation): $2.1 million compared to $3.5 million; Selling, General and Administrative Expenses (excluding depreciation): $8.5 million compared to $9.0 million; Operating Income/Loss: loss of ($13.5) million compared to ($15.2) million; Change in Fair Value of Warrant Liability: $16.5 million gain compared to a $13.2 million gain; Net Income/(Loss) and Basic and Diluted Earnings Per Share (EPS): net income of $0.1 million, or $0.00 basic and diluted earnings per share, compared to a net loss of ($3.5) million, or $(0.01) basic and diluted earnings per share. Conference Call Information The Company will host a conference call and webcast tomorrow, Thursday, June 18, 2026, at 11:00 a.m. Eastern Time to discuss financial and operational results. Dial-in and Webcast Information Date/Time: Thursday, June 18 at 11:00 a.m. Eastern Time Toll-Free (North America): +1 (800) 715-9871 Toll/International: +1 (646) 307-1963 Conference Call ID: 2668118 Webcast Link: https://app.webinar.net/dZY10b95v2L EasyConnect 'Dial-Me In': Participants, visit the address https://registrations.events/easyconnect/8716727/recAHzvY1JZfBaJq0/ and enter your details. The system will dial out to you and connect you into the conference. You do not need to pre-register for this service. Replay Information Toll-Free (North America) +1 (800) 770-2030 Toll/International: +1(609) 800-9909 Conference Call ID: 2668118# Expiration: Replay will expire on Thursday, July 2, 2026, 11:59 p.m. Central Time. About International Battery Metals Ltd. International Battery Metals Ltd. is a direct lithium extraction technology company focused on advancing the development of lithium from brine resources. The Company delivers a proprietary DLE process through a modular plant design and architecture built around its media and column systems. Depending on customer requirements, IBAT integrates its DLE process into existing customer flowsheets or specifications or delivers a full flowsheet solution using its proprietary DLE design in conjunction with strategic partnerships. With operational field deployment experience, International Battery Metals is positioned to support the next phase of lithium project development as global battery demand continues to expand. The Company is headquartered in Houston, Texas. Special Note Regarding Forward-Looking Statements This press release and our earnings call include information regarding the Company's future financial and operational performance and plans, targets, aspirations, expectations, and objectives of management, constitute forward-looking statements within the meaning of Section 21E of the Exchange Act and forward-looking information within the meaning of Canadian provincial and territorial securities laws. We refer to all of these as forward-looking statements. Forward-looking statements are forward-looking in nature and, accordingly, are subject to risks and uncertainties. All statements other than statements of historical fact included in this quarterly report regarding the prospects of the Company's industry or its prospects, plans, financial position or business strategy may constitute forward-looking statements. In addition, forward-looking statements generally can be identified by the use of forward-looking words such as "plans," "expects," "does not expect," "is expected," "look forward to," "budget," "scheduled," "estimates," "forecasts," "will continue," "intends," "the intent of," "have the potential," "anticipates," "does not anticipate," "believes," "should," "should not," or variations of such words and phrases that indicate that certain actions, events or results "may," "could," "would," "might," "will," "be taken," "occur," "be achieved," or the negative of these terms or variations of them or similar terms and include, without limitation, statements regarding our expectations or beliefs regarding: our expectations regarding industry demand for lithium; our beliefs regarding demand for our current MDLE Plant and MDLE Plant technology; our strategies for attracting customers and deploying our MDLE Plant; and our expectations regarding the amount and timing of our future financing requirements and fundraising process. Our forward-looking statements, included in this quarterly report and elsewhere, represent management's expectations as of the date that they are made, and we undertake no obligation to update these statements. Our forward-looking statements are based on assumptions and analyses made by the Company in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors it believes are appropriate in the circumstances. However, these forward-looking statements are subject to a number of risks and uncertainties, and actual results may differ materially from those expressed or implied in such statements. Important factors that could cause actual results, level of activity, performance or achievements to differ materially from those expressed or implied by these forward-looking statements include those risks set forth in our SEC filings and risks related to: industry demand and market prices for lithium; our ability to attract and negotiate a definitive agreement with a customer for our current MDLE Plant; our ability to customize the MDLE Plant to meet the needs of a customer, including our ability to fund such customizations; our ability to protect our intellectual property rights in our technology; the success or failure of management's efforts to continue to develop the next generation of our MDLE Plant technology; rapid technological change that could cause our technology to become obsolete or not cost-effective; the loss of key members of our management team; our ability to expand in existing and new markets; and our ability to obtain adequate or timely funding to operate our business and meet our future capital expenditure requirements. Investor Relations Contact: Brian Siegel, IRC, MBA Senior Managing Director Hayden IR (346) 396-8696 [email protected] International Battery Metals Ltd. Consolidated Balance Sheets As of March 31, 2026 and March 31, 2025 (In thousands) March 31, 2026 2025 Assets Current assets Cash $ 9,187 $ 10,737 Accounts receivable, net 90 459 Inventory 1,061 1,061 Other current assets 251 273 Total current assets 10,589 12,530 Plant and equipment, net 26,842 28,450 Intangible assets, net 2,190 3,266 Right of use asset 141 232 Total assets $ 39,762 $ 44,478 Current liabilities Accounts payable $ 395 $ 1,293 Accrued liabilities 892 533 Obligation to issue shares, related party - 679 Lease obligation, current 99 89 Total current liabilities 1,386 2,594 Warrant liability 9,968 15,151 Lease obligation, long-term 44 143 Total liabilities 11,398 17,888 Commitments and contingencies Shareholders' equity Share capital, no par 343,033 and 268,992 common shares issued and outstanding, respectively, as of March 31, 2026 and 2025, respectively 67,808 66,156 Accumulated deficit (39,444 ) (39,566 ) Total shareholders' equity 28,364 26,590 Total liabilities and shareholders' equity $ 39,762 $ 44,478 International Battery Metals Ltd. Consolidated Statements of Income (Loss)(Unaudited) For the Three Months and Years Ended March 31, 2026 and 2025 (In thousands, except per share amounts) Three Months Ended March 31, Year Ended March 31, 2026 2025 2026 2025 REVENUE Service $ 63 $ - $ 164 $ - Reimbursable - (11 ) - 871 Total Revenue 63 (11 ) 164 871 COST OF REVENUE Cost of revenue - - 34 - Gross margin 63 (11 ) 130 871 OPERATING COSTS AND EXPENSES Operating costs, excluding depreciation 519 990 2,078 3,533 Selling, general and administrative expenses, excluding depreciation 2,186 2,317 8,460 9,042 Reimbursable expenses - (11 ) - 871 Amortization of intangible assets 269 269 1,076 1,076 Depreciation 504 495 2,009 1,552 Operating loss (3,415 ) (4,071 ) (13,493 ) (15,203 ) Bad debt expense - (502 ) - (502 ) Excess fair value of warrants over private placement proceeds (439 ) (381 ) (439 ) (1,040 ) Gain/loss on warrants modification 2 - (2,442 ) - Change in fair value of warrant liability (1,446 ) 5,283 16,493 13,229 Other income 3 - 3 - Net income before income tax provision (5,295 ) 329 122 (3,516 ) Net income (loss) $ (5,295 ) $ 329 $ 122 $ (3,516 ) Net income/(loss) per share, basic $ (0.02 ) $ 0.00 $ 0.00 $ (0.01 ) Net income/(loss) per share, diluted $ (0.02 ) $ 0.00 $ 0.00 $ (0.01 ) Weighted average shares outstanding, basic 306,233 242,908 296,635 238,431 Weighted average shares outstanding, diluted 310,685 242,908 301,027 238,431 SOURCE: International Battery Metals Ltd. 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