<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0508</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2026-02-23</periodOfReport>

    <issuer>
        <issuerCik>0001786318</issuerCik>
        <issuerName>INTERNATIONAL BATTERY METALS LTD.</issuerName>
        <issuerTradingSymbol>IBATF</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0002082309</rptOwnerCik>
            <rptOwnerName>WARNOCK JACOB AARON</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>1 CALLE CERVANTES #5</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>SAN JUAN</rptOwnerCity>
            <rptOwnerState>PR</rptOwnerState>
            <rptOwnerZipCode>00907</rptOwnerZipCode>
            <rptOwnerStateDescription>PUERTO RICO</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>true</isDirector>
            <isOfficer>false</isOfficer>
            <isTenPercentOwner>true</isTenPercentOwner>
            <isOther>false</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0002109918</rptOwnerCik>
            <rptOwnerName>EV Metals VI LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>1 CALLE CERVANTES #5</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>SAN JUAN</rptOwnerCity>
            <rptOwnerState>PR</rptOwnerState>
            <rptOwnerZipCode>00907</rptOwnerZipCode>
            <rptOwnerStateDescription>PUERTO RICO</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>false</isDirector>
            <isOfficer>false</isOfficer>
            <isTenPercentOwner>true</isTenPercentOwner>
            <isOther>false</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0002110065</rptOwnerCik>
            <rptOwnerName>EV Metals 7 LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>1 CALLE CERVANTES #5</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>SAN JUAN</rptOwnerCity>
            <rptOwnerState>PR</rptOwnerState>
            <rptOwnerZipCode>00907</rptOwnerZipCode>
            <rptOwnerStateDescription>PUERTO RICO</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>false</isDirector>
            <isOfficer>false</isOfficer>
            <isTenPercentOwner>true</isTenPercentOwner>
            <isOther>false</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>false</aff10b5One>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Shares, no par value</value>
            </securityTitle>
            <transactionDate>
                <value>2026-02-23</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>false</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>26427053</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0.08</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>108784978</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See notes</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Shares, no par value</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>541126</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Warrants</value>
                <footnoteId id="F3"/>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>0.10</value>
                <footnoteId id="F4"/>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2026-02-23</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>false</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>26427053</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F5"/>
            </exerciseDate>
            <expirationDate>
                <value>2030-02-23</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Shares, no par value</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <footnoteId id="F3"/>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>86426183</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See note</value>
                    <footnoteId id="F6"/>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Includes (i) 9,792,659 Common Shares held of record by Elegante Energy LLC, (ii) 2,665,625 Common Shares held of record by EV Metals LLC, (iii) 746,250 Common Shares held of record by EV Metals II LLC, (iv) 735,000 Common Shares held of record by EV Metals III LLC, (v) 3,970,000 Common Shares held of record by EV Metals IV LLC, (vi) 18,640,667 Common Shares held of record by EV Metals VI LLC, (vii) 29,297,348 Common Shares held of record by EV Metals 7 LLC, (viii) 10,906,000 Common Shares held of record by EV Metals 8 LLC, (ix) 2,355,872 Common Shares held of record by JAW Puerto Rico Trust, (x) 3,248,504 Common Shares held of record by Perk Salar, LLC and (xi) 26,427,053 Common Shares held of record by EV Metals 9 LLC.</footnote>
        <footnote id="F2">EV Metals GP LLC is the Manager of each of EV Metals LLC, EV Metals II LLC, EV Metals III LLC, EV Metals IV LLC, EV Metals VI LLC, EV Metals 7 LLC, EV Metals 8 LLC, EV Metals 9 LLC and Perk Salar, LLC. Mr. Warnock is the Manager of EV Metals GP LLC and Elegante Energy LLC, and Mr. Warnock is the Investment Trustee of JAW Puerto Rico Trust. As a result, Mr. Warnock may be deemed to beneficially own the securities held by the foregoing entities. Each such entity and Mr. Warnock disclaims beneficial ownership of such securities except to the extent of his or its pecuniary interest therein, if any.</footnote>
        <footnote id="F3">Each Warrant represents the right to acquire one Common Share.</footnote>
        <footnote id="F4">Represents an exercise price of $0.14 Canadian dollars, converted to U.S. dollars using the Bank of Canada daily exchange rate of $1.00 to CAD$1.3689 as of February 23, 2026.</footnote>
        <footnote id="F5">The Warrants are immediately exercisable.</footnote>
        <footnote id="F6">Held of record by EV Metals 9 LLC. Mr. Warnock is the Manager of EV Metals GP LLC, which is the Manager of EV Metals 9 LLC. As a result, Mr. Warnock may be deemed to beneficially own the securities held by EV Metals 9 LLC. Mr. Warnock disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein, if any.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Norma Garcia, Attorney-in-Fact for Jacob Aaron Warnock</signatureName>
        <signatureDate>2026-02-25</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Norma Garcia, Attorney-in-Fact for EV Metals VI LLC</signatureName>
        <signatureDate>2026-02-25</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Norma Garcia, Attorney-in-Fact for EV Metals 7 LLC</signatureName>
        <signatureDate>2026-02-25</signatureDate>
    </ownerSignature>
</ownershipDocument>
