Mr. Jonathan Or reports

BEYOND OIL PROVIDES SUPPLEMENTAL DISCLOSURE RELATING TO ITS ANNUAL GENERAL & SPECIAL MEETING

Beyond Oil Ltd. will host its annual general and special meeting of shareholders on Thursday, April 25, 2024, at 8 a.m. Vancouver time, at the offices of Endeavor Trust Corp., Suite 1150, 777 Hornby St., Vancouver, B.C. The record date for the shareholders entitled to vote at the meeting has been set for shareholders of record as at the close of business on March 19, 2024. The notice of meeting, proxy form, voter information form and information circular are located under the company's SEDAR+ profile.

The business at the meeting includes: setting the number of and electing directors of the company, appointing an auditor for the ensuing year, approving the amendment to the company's omnibus equity incentive plan, amending the deferred purchase price agreement, approving the extension of the expiry date of 2,683,333 warrants, and approving the extension of the expiry date of 2,241,324 warrants.

The company would like to provide shareholders with the following additional information in respect of the deferred purchase price agreement and the Subco warrants to supplement the information in the circular.

Regulatory exemptions

The company has made the determination that it is in the best interest of shareholders for the company to adhere to a high standard of corporate governance and request minority approval in respect of the revised DPPA resolutions and the Subco extension resolutions. The company would like to clarify that notwithstanding the foregoing, the company would nonetheless be required to obtain minority shareholder approval as is required by Canadian Securities Administrators' Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). The company will also be relying on Section 5.5(b) of MI 61-101 for an exemption from the formal valuation requirements, which exemption is available to the company as no securities of the company are listed or quoted on any of the prescribed exchanges.

Disinterested shareholder approval

As disclosed in the circular, at the meeting, to approve each of: (a) the Subco extension resolutions; and (b) the revised DPPA resolutions, such resolutions must be approved by ordinary resolution approved by a majority of the votes cast by those shareholders present in person or represented by proxy at the meeting who are not related parties.

The attached table lists those related parties who will not be entitled to vote in respect of the aforementioned resolutions, their existing shareholdings, the aggregate number of common shares each will be entitled to receive in the event of the approval of the revised DPPA resolutions (and then only in the future upon fulfilment of the revised milestones as more particularly described in the circular) and the aggregate number of common shares each will be entitled to received in the event of the approval of the Subco extension resolutions (and then only in the future if such related party elects to pay the exercise price, as more particularly described in the circular).

About Beyond Oil Ltd.

Beyond Oil develops and manufactures an innovative, proprietary and patented product designed to extend the life of frying oil while preserving the oil's quality and nutritional value. The unique product integrates into the existing filtration systems of both commercial and industrial fryers, reducing oil costs, helping create healthier food, decreasing waste and increasing sustainability.

We seek Safe Harbor.