Mr. Steve Halabura reports

BUFFALO POTASH ANNOUNCES GRANT OF COMPENSATION SECURITIES

Buffalo Potash Corp. has granted an aggregate of 5,375,000 incentive stock options and 3,240,610 restricted share units (RSUs) to certain eligible participants, including certain directors and officers of the company, under the company's "fixed 20-per-cent" omnibus equity incentive plan. The grants are intended to align the interests of incoming management, board and consultants with the long-term success and strategic objectives of the company.

The grant includes 4.65 million options which vest in four 25-per-cent equal instalments over a period of 24 months from the date of grant, with the first instalment vesting on the date that is six months from the date of issuance thereof, and three additional instalments vesting 12, 18 and 24 months anniversary thereafter. Also included are 575,000 options which vest immediately and 150,000 options which vest in four 25-per-cent instalments over a period of 12 months from the date of grant, with the first instalment vesting on the date that is three months from the date of issuance thereof, and three additional instalments vesting six, nine and 12 months anniversary thereafter

Upon vesting, each option shall be exercisable to acquire one common share in the capital of the company for a period of five years from the date of issuance thereof at an exercise price of 35 cents. Each RSU, which shall vest on the 12-month anniversary of the date of issuance thereof, shall entitle the holder thereof to the issuance of one common share upon redemption thereof.

The company relied on Section 5.5(b) of Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions as the exemption from the formal valuation requirements of MI 61-101 in respect of the grant of options and RSUs to certain "related parties" (as such term is defined under MI 61-101) of the company, as the common shares are not listed on a specified market under MI 61-101. The company relied on Section 5.7(a) of MI 61-101 as the exemption from the minority approval requirements of MI 61-101 in respect of the grant of options and RSUs to certain "related parties" of the company as neither the fair market value of the subject matter of, nor the fair market value of the consideration for, such issuances exceeded 25 per cent of the company's market capitalization.

Pursuant to the plan, the aggregate number of common shares issuable under the plan in respect of all awards granted by the company may not exceed 15,397,018 common shares, which is 20 per cent of the issued and outstanding common shares at the time of the completion of the reserve takeover on Dec. 29, 2025. After the aforementioned grants, the aggregate number of common shares that remains issuable under the plan is 3,373,822.

A copy of the plan is available in the filing statement dated Dec. 23, 2025, under the company's SEDAR+ profile.

About Buffalo Potash Corp.

Buffalo Potash is a Saskatchewan-based potash developer pursuing a modular approach to solution mining through its patented horizontal line-drive (HLD) technology. Buffalo is advancing the Disley project and related assets with the objective of establishing capital-efficient, lower-impact potash production in Canada's leading potash jurisdiction.