Mr. Craig Steinke reports

BLUENERGIES ANNOUNCES COMPLETION OF WARRANT ACCELERATION

Bluenergies Ltd. has successfully completed the exercise of all outstanding common share purchase warrants following the acceleration of their expiry date.

As previously announced on Feb. 10, 2026, the company accelerated the expiry of 8,009,950 warrants originally issued on April 8, 2025, in connection with the company's private placement financing and TSX Venture Exchange listing. The acceleration was triggered upon the moving volume weighted average trading price of the common shares on the TSX-V equaling or exceeding $1.50 for 20 consecutive trading days ending Feb. 10, 2026. The accelerated expiry date was set to March 12, 2026.

The company is pleased to confirm that all 8,009,950 warrants have now been exercised by the holders, resulting in the issuance of 8,009,950 additional common shares of the company at the exercise price of 75 cents per common share, generating gross proceeds to the company of $6,007,462. The proceeds will strengthen the company's balance sheet and support continuing operations for its oil and gas exploration activities jointly with TotalEnergies in the Harper basin fan play, offshore Liberia.

In addition, the company settled an aggregate of $323,073 owing to an arm's-length adviser to the company by the issuance of an aggregate of 216,715 common shares at a price of $1.50 per common share. The common shares were issued in lieu of cash payments for services previously rendered by the adviser to the company pursuant to a consulting and advisory agreement whereby the adviser provided various services to the company throughout 2024 and 2025.

The common shares issued in connection with the settlement are subject to a hold period of four months and a day from the date of closing.

Following the warrant exercise and shares for services, the total number of issued and outstanding common shares of the company is now 72,549,915.

About Bluenergies Ltd.

Bluenergies is a Canadian-based international oil and gas exploration and development company with a focus on operations in West Africa.