Mr. Marshall Abbott reports

PDMR EXERCISE AND GRANT OF OPTIONS

Certain Arrow Exploration Corp. directors and persons discharging managerial responsibilities (PDMRs) have exercised stock options. These options were exercised due to reaching their expiration date.

Option exercise

The exercise was accepted by the company on June 17, 2025, and holders elected to use a cashless exercise of options. Using this method, which is permissible under the terms of the company's share option plan, as approved as a resolution by shareholders Sept. 27, 2024, the company pays the optionholder the value of the option (volume-weighted average trading price less strike price) from cash reserves. Accordingly, no new shares were issued for the option exercise.

A summary of the options exercised is provided in an attached table.

About Arrow Exploration Corp.

Arrow Exploration (operating in Colombia via a branch of its 100-per-cent-owned subsidiary, Carrao Energy SA) is a publicly traded company with a portfolio of premier Colombian oil assets that are underexploited, underexplored and offer high-potential growth. The company's business plan is to expand oil production from some of Colombia's most active basins, including the Llanos, Middle Magdalena Valley (MMV) and Putumayo basins. The asset base is predominantly operated with high working interests, and the Brent-linked light oil pricing exposure combines with low royalties to yield attractive potential operating margins. By way of a private commercial contract with the recognized interest holder before Ecopetrol SA, Arrow is entitled to receive 50 per cent of the production from the Tapir block. The formal assignment to the company is subject to Ecopetrol's consent. Arrow's seasoned team is led by a hands-on executive team supported by an experienced board.

We seek Safe Harbor.