NB NIOCORP DEVELOPMENTS LTD

“As discussed in Item 9A, Controls and Procedures, of this Annual Report on Form 10-K, the Company s management has assessed the effectiveness of its internal control over financial reporting and its disclosure controls and procedures and concluded that they were not effective as of June 30, 2026.”

“Our management has identified a material weakness in its internal control over financial reporting relating to a deficiency in the principles associated with the control activities component of internal control based on the criteria established by the COSO Framework (as defined below), that constitute a material weakness.”

“the material weakness in NioCorp s internal control over financial reporting, NioCorp s efforts to remediate such material weakness and the timing of remediation”

“The Company has identified a material weakness in its internal control over financial reporting. If not remediated, the Company s failure to establish and maintain effective disclosure controls and procedures and internal control over financial reporting could result in material misstatements in its financial statements”

“the material weakness in NioCorp’s internal control over financial reporting, NioCorp’s efforts to remediate such material weakness and the timing of remediation”

“Control Activities: Management did not maintain effective controls over the design and implementation of process-level control activities related to vendor banking information.”

“Based on that evaluation, the CEO and the CFO have concluded that, as of September 30, 2026, our disclosure controls and procedures were not effective due to the material weakness in internal control over financial reporting described below.”

“the material weakness in NioCorp s internal control over financial reporting, NioCorp s efforts to remediate such material weakness and the timing of remediation;”