Mr. Don Streu reports

CONDOR ACHIEVES NEW PRODUCTION RECORD OF 14,000 BOE/D IN UZBEKISTAN

Condor Energies Inc. has provided an operational update on its Uzbekistan project.

Condor has reached a corporate milestone by exceeding 14,000 barrels of oil equivalent per day of daily production following the commencement of production from the recently drilled Kumli-46 horizontal well (K-46), including total average daily production of 13,938 boe/d for the past 72 hours and 14,013 boe/d for the past 24 hours. The well initially flowed at a peak rate of 18.3 million cubic feet per day (or 3,050 boe/d) but has been restricted to manage the high gas stream velocities. No production decline has been observed in K-45 or K-46 to date, nor is any expected in the near term given the high flowing tubing pressure of over 1,400 pounds per square inch recorded in K-46 over the past 72 hours.

The follow-up Kumli-47 horizontal well (K-47) has already been drilled to its surface casing point at 509 metres and casing is being run and cemented. K-47 targets the same sucrosic dolomite formation drilled in K-46, providing a high-porosity reservoir that yields exceptional gas rate deliverability and is scheduled to reach total depth by mid-May, 2026. Concurrently, continuing workover operations continue to mitigate an annual 20-per-cent natural reservoir decline rate observed from the legacy wells.

Don Streu, Condor's president and chief executive officer, commented: "With the added success of K-46, average daily production has now increased 32 per cent over the past 72 hours compared to the average daily production in the fourth quarter of 2025. K-46 reflects Condor's repeated ability to implement Western technologies to identify hydrocarbons and convert them to cash flow with discipline and efficiency while maintaining a clear focus on safety and operational excellence. We are thrilled to be monetizing K-46 production so soon after completing the well and anticipate similar flow performance results from K-47. Our near-term horizontal well program has the potential to materially increase our 2026 gas production and reserves volumes while helping to enhance Uzbekistan's energy security."

About Condor Energies Inc.

Condor Energies is a Toronto Stock Exchange-listed energy transition company that is uniquely positioned on the doorstep of European and Asian markets with three distinct first-mover energy security initiatives: increasing natural gas and condensate production from its existing fields in Uzbekistan, a continuing project to construct and operate Central Asia's first LNG (liquefied natural gas) lower-carbon-fuel diesel substitution facility in Kazakhstan, and a separate initiative to develop and produce critical minerals from brines in Kazakhstan. Condor has already built a strong foundation for reserves, production and cash flow growth while also striving to minimize its environmental footprint.

The company recognizes 100 per cent of the production volumes, sales volumes, sales revenues, royalties and expenses related to the production enhancement contract project in Uzbekistan (PEC project) and then allocates 49 per cent of the comprehensive income (loss) attributable to the non-controlling interest holder. This is consistent with the accounting and disclosure in the company's financial statements. Accordingly, the production volumes disclosed in this news release related to the PEC project are 100 per cent of the amounts attributable to the PEC project, of which 51 per cent is attributable to the company.

We seek Safe Harbor.