X0306 4 2018-03-01 0 0001543418 Trilogy Metals Inc. TMQ 0001562653 Stairs Janice SUITE 1150, 609 GRANVILLE STREET VANCOUVER A1 V7Y 1G5 BRITISH COLUMBIA, CANADA 1 0 0 0 Deferred Share Units 0 2018-03-01 4 A 0 2038.83 0 A Common Stock 2038.83 180773.50 D The deferred share units vest immediately; however, the underlying common shares will not be issued to the grantee, and the grantee shall not have any voting or dispositive rights with respect to the underlying common shares, until termination of the grantee's employment or services as a director of the Issuer. The grants will expire no later than 90 days after the grantee's termination date. /s/ Elaine Sanders as attorney-in-fact for Janice Stairs 2018-03-02