Mr. William Sheriff reports

ENCORE ENERGY ENTERS INTO CONTROLLED EQUITY OFFERING SALES AGREEMENT

Pursuant to a Canadian prospectus supplement dated Aug. 13, 2026, to EnCore Energy Corp.'s Canadian short form base shelf prospectus dated July 6, 2026, and a U.S. prospectus supplement dated Aug. 13, 2026, to the company's U.S. base prospectus included in its U.S. registration statement on Form S-3 filed with the U.S. Securities and Exchange Commission and declared effective on July 1, 2026, EnCore has entered into a controlled equity offering sales agreement dated Aug. 13, 2026, with a syndicate led by Cantor Fitzgerald Canada Corp. and Cantor Fitzgerald & Co. for an at-the-market distribution of common shares of the company of up to $250-million (U.S.), which may be offered from time to time, at the market prices prevailing at the time of sale, directly through the TSX Venture Exchange, the Nasdaq Capital Market LLC, or other marketplace in Canada or the United States where the common shares may be traded, and, as a result, prices at which the common shares are sold may vary among purchasers and during the period of any distribution. Any distribution of common shares would be made in Canada pursuant to the Canadian prospectus and in the United States pursuant to the U.S. prospectus.

The company intends to use the net proceeds, if any, raised from the ATM program for possible future acquisitions, other strategic growth opportunities and general corporate purposes.

Potential investors should read the Canadian prospectus or U.S. prospectus, as applicable, for more information about the ATM program. Copies of the Canadian prospectus, U.S. prospectus and the sales agreement are available on SEDAR+ and on the SEC's website, respectively. Potential investors can request copies of the Canadian prospectus, U.S. prospectus and the sales agreement, as applicable, from the lead sales agents by contacting:

1. In Canada, Cantor Fitzgerald Canada Corp., attention: equity capital markets, 181 University Ave., Suite 1500, Toronto, Ont., Canada, M5H 3M7, or by e-mail at ecmcanada@cantor.com; or
2. In the United States, Cantor Fitzgerald & Co., attention: capital markets, 110 East 59th St., sixth floor, New York, N.Y., 10022, or by e-mail at prospectus@cantor.com.

About EnCore Energy Corp.

EnCore, America's clean energy company, is committed to providing clean, reliable and affordable uranium to fuel the rapidly expanding U.S. nuclear energy needs. EnCore's team is led by industry experts with extensive knowledge and experience in all aspects of uranium in situ recovery operations and the nuclear fuel cycle. EnCore exclusively uses ISR for uranium extraction, a minimally invasive, ecofriendly and economically competitive mineral extraction technology co-developed by EnCore's leadership.

Building on EnCore's demonstrated and continuing success in south Texas, future projects in EnCore's planned project pipeline include the expansion of Alta Mesa to include the Alta Mesa East property, the Dewey Burdock project in South Dakota and the Gas Hills project in Wyoming. The company holds other assets, including non-core assets and proprietary databases. EnCore is committed to working with local communities and indigenous governments to create positive impacts from corporate projects.

We seek Safe Harbor.