Mr. Gil Holzman reports

ECO (ATLANTIC) OIL AND GAS LTD. ANNOUNCES NOTICE OF ANNUAL GENERAL MEETING

The annual general and special meeting (AGSM) of Eco (Atlantic) Oil & Gas Ltd. will be held on March 27, 2026, at 10 a.m. EST at 217 Queen St. W, Suite 401, Toronto, Ont., M5R 0V2. Copies of the formal notice of the AGSM and the form of proxy will be made available on the company's website.

Following the recent corporate and business developments, the board is taking the opportunity to propose a reduction in its size, from nine members to five, to enable a more efficient and streamlined corporate governance and oversight of the company's activities and to reflect the company's stage of development.

Accordingly, subject to approval at the forthcoming AGSM, the board will be reduced in number to five directors. It is intended that Alice Carroll, vice-president, business development and corporate affairs, and Gadi Levin, chief financial officer, will step down from the board and continue in their senior executive roles at the company, and Selma Usiku will retire from the board but continue to serve on behalf of the company as vice-chairman of NAMPOA (Namibia Petroleum Operators Association). Accordingly, the aforementioned directors have not put themselves forward for re-election at the shareholder meeting.

If the proposed resolutions are approved at the AGSM, it is expected that the board will comprise Keith Hill, Peter Nicol, Alan Friedman and Emily Ferguson as non-executive directors (one of whom will be elected non-executive chairman) and Gil Holzman as director, president and chief executive officer. A further announcement will be made at that time.

About Eco (Atlantic) Oil & Gas Ltd.

Eco Atlantic is a TSX Venture Exchange- and Alternative Investment Market-quoted, Atlantic Margin-focused oil and gas exploration company with offshore licence interests in Guyana, Namibia and South Africa. Eco aims to deliver material value for its stakeholders through its role in the energy transition to explore for low-carbon-intensity oil and gas in stable emerging markets close to infrastructure.

In offshore Guyana, in the proven Guyana-Suriname basin, the company operates a 100-per-cent working interest in the 1,354-square-kilometre Orinduik block. In Namibia, the company holds operatorship and an 85-per-cent working interest in three offshore petroleum licences: PELs 97, 99 and 100, representing a combined area of 22,893 square kilometres in the Walvis basin. In offshore South Africa, Eco holds a 5.25-per-cent working interest in Block 3B/4B and a 75-per-cent operated interest in Block 1 CBK, in the Orange basin, totalling approximately 37,510 square kilometres.

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