Vancouver, British Columbia--(Newsfile Corp. - January 30, 2026) - Permex Petroleum Corporation (CSE: OIL) (FSE: 75P) ("Permex" or the "Company") has received a Notice of Default from the holders of its secured convertible debentures (the "Debentures") which were issued on November 1, 2024. The Debentures have an aggregate principal of $4,276,389 with interest accruing thereon at 10% per annum, and are secured by the Company's assets.

In a letter dated January 28, 2026, Mr. Jeffrey E. Eberwein, on behalf of himself and as collateral agent for all of the other debenture holders, notified Permex that it was in default of its obligations under the Debentures by failing to make any payments on or before November 2, 2025, and made demand for immediate payment of all outstanding indebtedness under the Debentures. Mr. Eberwein further advised that unless payment is provided or alternative assurances and/or arrangements made by February 18, 2026, the Debenture holders will seek to enforce its rights and remedies under the Debentures, which may include repossession of its collateral.

The Company reports that it has not filed its audited annual financial statements for the year ended September 30, 2025, the related management's discussion and analysis, and its Form 52-109FV1 CEO and CFO certifications of annual filings by the regulatory deadline of January 28, 2026.

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