Mr. Gil Holzman reports

ECO (ATLANTIC) OIL AND GAS LTD. ANNOUNCES RESULT OF AGM

All resolutions were duly passed by shareholders with substantial majority support at Eco (Atlantic) Oil & Gas Ltd.'s annual general meeting held on March 27, 2026, in Toronto, Canada.

Following the meeting, the previously indicated board changes have now taken place and the board of directors has appointed Keith Hill as non-executive chairman, succeeding Peter Nicol, effective March 30, 2026. Mr. Nicol will remain as a non-executive director.

The company's omnibus incentive plan was approved by shareholders at the meeting in accordance with TSX Venture Exchange Policy 4.4. The omnibus incentive plan is a 10-per-cent rolling security-based compensation plan and remains subject to final acceptance of the TSX Venture Exchange.

Gil Holzman, president and chief executive officer of Eco Atlantic, commented:

"On behalf of the board and everyone at Eco, I thank Peter Nicol for his leadership and dedication as non-executive chairman since December, 2022. Peter has provided invaluable guidance helping to steer the board of directors through a period of significant change across both the business and the wider industry.

"His experience and steady counsel have been instrumental as the company navigated complex challenges, including key personnel transitions and transformational transactions.

"Peter will remain as a non-executive director, and we look forward to continuing to benefit from his insight and experience. The company is in an excellent position with strong foundations for future growth. We welcome Keith Hill as non-executive chair during this pivotal phase of transformational portfolio developments. Keith brings a strong and long industry experience, global network, and proven leadership, and we look forward to advancing our strategic goals focusing on growth, execution, and high-impact exploration and development with his support benefiting from his expertise as we advance our strategic priorities."

Following the changes the board now comprises the following:

• Keith Hill -- non-executive chairman;
• Gil Holzman -- president and chief executive officer;
• Peter Nicol -- non-executive director;
• Emily Ferguson -- non-executive director;
• Alan Friedman -- non-executive director.

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.