Mr. Craig Steinke reports

BLUENERGIES ANNOUNCES UPSIZE OF NON-BROKERED PRIVATE PLACEMENT OF UNITS FOR GROSS PROCEEDS OF UP TO C$20,700,000

Further to the news release dated July 9, 2026, and as a result of strong investor demand, Bluenergies Ltd. has increased the size of its previously announced non-brokered private placement. The offering now consists of up to 9.2 million units of the company at a price of $2.25 per unit for aggregate gross proceeds of up to $20.7-million, an increase from the previously announced maximum of up to 4.5 million units for gross proceeds of up to $10,125,000.

Each unit will consist of one common share of the company and one common share purchase warrant, with each warrant exercisable to purchase one additional common share for a period of three years from the date of closing at an exercise price of $3. All other terms of the offering remain unchanged from those set out in the company's news release dated July 9, 2026.

The company intends to use the net proceeds from the offering for the exploration and advancement of the company's assets, as well as for working capital and general corporate purposes.

The offering is subject to TSX Venture Exchange acceptance. All common shares and warrants issued pursuant to the offering, as well as the common shares issuable upon exercise of the warrants, will be subject to a four-month-and-a-day hold period from the closing date, and a TSX-V hold period, as applicable. The company anticipates paying finders' fees equal to 6 per cent cash to certain eligible arm's-length parties on a portion of the proceeds raised under the offering. In addition, the company may issue to certain eligible arm's-length finders non-transferable warrants equal to 6 per cent of a portion of the number of units issued under the offering.

It is anticipated that certain insiders of the company will participate in the offering. Details of any such insider participation, including the applicable related-party transaction disclosure under Multilateral Instrument 61-101, will be provided in the closing news release.

About Bluenergies Ltd.

Bluenergies is a Canadian-based oil and gas exploration and development company focused on offshore west Africa. The company has recently partnered with TotalEnergies to explore its basin floor fan plays in blocks LB-26, LB-30 and LB-31 covering an area of approximately 8,924 square kilometres (approximately 2.2 million acres) located in the Harper basin, in the deepwater offshore Liberia. Additionally, the company recently acquired a previously discovered and tested sand channel play offshore Louisiana in the shallow water Gulf of America.

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