Mr. Richard Barnett reports

ALTIMA APPOINTS NEW DIRECTOR AND PROVIDES CORPORATE UPDATE

Altima Energy Inc. has appointed Michael Bouvier to the board of directors.

Mr. Bouvier has over 30 years of experience in the oil and gas sector and over the span of his career has negotiated over $1-billion worth of transactions. Mr. Bouvier spent 18 years with Encana and its predecessor, Pan Canadian Petroleum, in accounting and land, and then evolved to a role as senior land negotiator, which was a role he also performed for Prairie Sky Royalty. Mr. Bouvier was also a founding member and vice-president of Forge Oil and Gas, which was founded in 2015 and was sold in 2021.

Altima Energy's chief executive officer, Joe DeVries, commented: "We are pleased to announce Mr. Bouvier's appointment on the board of directors. Mr. Bouvier has a wealth of expertise that will greatly advance Altima's regional strategic initiatives in Alberta, and Altima warmly welcomes him."

For clarification, the company's officers and directors currently comprise the following:

• Joe DeVries, interim president and chief executive officer and director;
• Richard Barnett, secretary, chief financial officer and director;
• Stephen Watts, director;
• Ronald Hughes, director;
• Mr. Bouvier, director.

Audited financial status update

The company and its auditor continue to work on completing its audited annual financial statements, management discussion and analysis, and its National Instrument 51-101 disclosure for the year ended Feb. 28, 2025, the first quarter ended May 31, 2025, and the second quarter ended Aug. 31, 2025. While there have been delays caused by technical issues from integration of an industry system software used for reporting production and financial information, the company believes that the software issues have now been satisfactorily resolved. The auditors continue to work diligently, but, with the holidays approaching, the company anticipates filing the audited statements in January, with the quarterly statements being filed shortly thereafter.

However, as a result of these continued delays, the cease trade order (news release dated Sept. 7, 2025) remains in effect and the company's securities remain suspended by the TSX Venture Exchange until the financial statements have been filed.

About Altima Energy Inc.

Altima Energy is a Vancouver-headquartered oil and gas exploration and production company with a strategic focus on unlocking the potential of hydrocarbon assets across North America. Committed to efficient resource development, Altima combines cutting-edge technology and industry expertise to drive operational excellence and deliver sustainable growth. With a focus on long-term value creation, Altima is dedicated to enhancing returns for its shareholders while maintaining a disciplined approach to asset management.

We seek Safe Harbor.