Mr. William Sheriff reports

ENCORE ENERGY PROVIDES UPDATE ON DISTRIBUTION OF VERDERA COMMON SHARES TO ITS SHAREHOLDERS

EnCore Energy Corp.'s board of directors has set a record date for its distribution of common shares of Verdera Energy Corp. as a special dividend on Sept. 30, 2026, to shareholders of record on Sept. 25, 2026.

As previously disclosed (see news releases dated Feb. 18, 2026, and March 18, 2025), the company, NM Energy Holding Canada Corp. and Verdera entered into: (i) a share purchase agreement, dated March 17, 2025, pursuant to which, among other things, the company was issued 50 million non-voting preferred shares of Verdera; and (ii) a side letter dated April 4, 2025, by and between the company and Verdera, pursuant to which Verdera agreed to register the common shares issuable on conversion of the consideration shares under the Securities Act of 1933, as amended, and the company agreed, subject to the satisfaction of certain conditions, including, but not limited to, the effectiveness of a resale registration statement of Verdera, to elect to convert 35 million consideration shares into Verdera common shares and set a record date for, and complete, the company's distribution of such shares to the company's shareholders by way of a stock dividend or similar distribution. Verdera has informed the company that the Securities and Exchange Commission has declared the resale registration statement effective. As such, the company has declared a pro rata distribution of the distribution shares, determined by dividing the distribution shares by the number of common shares of the company outstanding on Sept. 25, 2026, rounded down to the nearest whole distribution share. The distribution will be payable on Sept. 30, 2026, to shareholders of record on Sept. 25, 2026. Certain of the distribution shares are subject to contractual restrictions on transfer until Nov. 20, 2026, and Feb. 20, 2027.

The distribution is subject to the completion of all necessary filings with and receipt of all approvals from the Nasdaq Capital Market LLC and the TSX Venture Exchange.

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.