MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION

FOR THE THREE AND SIX MONTHS ENDED

For the three and six months ended June 30, 2022

(All amounts in Canadian Dollars, unless otherwise stated)

SIGNIFICANT ACCOUNTING POLICIES AND CRITICAL ACCOUNTING ESTIMATES & JUDGEMENTS.....

MANAGEMENT'S RESPONSIBILITY FOR FINANCIAL INFORMATION..........................................................

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS ....................................................

For the three and six months ended June 30, 2022

(All amounts in Canadian Dollars, unless otherwise stated)

The following discussion of the results of operations and financial condition of Global Atomic Corporation ("Global Atomic" or the "Company") prepared as of August 11, 2022 summarizes management's review of the factors that affected the Company's financial and operating performance for the three and six months ended June 30, 2022, and the factors reasonably expected to impact on future operations and results ("Management's Discussion and Analysis of Financial Condition and Results of Operations" or "MD&A").

This MD&A is intended to supplement and complement the Company's unaudited condensed interim consolidated financial statements as at and for the three and six months ended June 30, 2022 ("Financial Statements") and the notes thereto, which were prepared in accordance with International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board ("IASB").

Certain information and discussion included in this MD&A constitute forward-looking information, which should be read in consideration of the cautionary notes contained in the section "Forward-Looking Statements" at the end of this MD&A.

Further information about the Company and its operations can be obtained from the offices of the Company, at www.globalatomiccorp.com or from www.sedar.com .

For the three and six months ended June 30, 2022

(All amounts in Canadian Dollars, unless otherwise stated)

For the three and six months ended June 30, 2022

(All amounts in Canadian Dollars, unless otherwise stated)

Global Atomic is a reporting issuer under applicable securities legislation in the provinces of Alberta, British Columbia and Ontario and trades under the symbol "GLO" on the Toronto Stock Exchange (the "TSX"), under the symbol "GLATF" on the Over-The-Counter Market (the "OTC:QX") in the United States of America and under the symbol "G12" on the Frankfurt Stock Exchange.

On December 22, 2017, the predecessor company, Silvermet Inc., completed the acquisition of Global Atomic Fuels Corporation ("GAFC"). Under the terms of the transaction, GAFC amalgamated with a wholly-owned subsidiary of Global Atomic, and all the issued and outstanding common shares of GAFC were acquired by Silvermet, now "the Company", in exchange for the issuance of 2.147 common shares of the Company for each GAFC share. On completion of the transaction, the Company consolidated its share capital on the basis of one new share for every 2.75 shares outstanding. Silvermet Inc. also changed its name to Global Atomic Corporation.

Global Atomic is headquartered in Toronto, Canada and is incorporated under the laws of the Province of Ontario. Global Atomic and its subsidiaries have two principal lines of business:

The Company carries out its Niger uranium exploration and development activities through its wholly-owned subsidiary, GAFC. GAFC was incorporated on January 31, 2005, to pursue uranium mining projects. After an analysis of the prospective exploration sites in Niger, GAFC entered into six Mining Agreements with the Government of the Republic of Niger. Each Mining Agreement covers a period of 20 years. Under the terms of a Mining Agreement, GAFC is granted an initial three-year Exploration Permit, which is renewable for two successive three-year periods.

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Global Atomic Corp. published this content on 12 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 August 2022 12:04:08 UTC.