Officer Stock Option Grant

Mark A. Smith, President & CEO of NIOCORP DEVELOPMENTS LTD, was granted 293,160 employee stock options on July 6, 2026. The options have an exercise price of $4.74 and expire on July 6, 2031. 34% of the options vested immediately, with the remaining 66% vesting in two equal installments on the first and second anniversaries of the grant date. This transaction is reported on Form 4.