Mr. Nick DeMare reports

EAST WEST PETROLEUM PROVIDES CORPORATE UPDATE

East West Petroleum Corp. has provided a further corporate update.

In the company's news release of July 2, 2025, the company announced a return of capital of approximately $3-million, subject to receipt of shareholder approval.

An annual and special shareholders meeting has been set for Sept. 5, 2025, with July 29, 2025, being set as the record date to determine which shareholders are entitled to receive notice of, and vote at, the meeting. Further news will be issued as the company advances this restructuring plan.

In addition, the company has been monitoring events in Romania and its attempts to crystalize a monetizing event. Given the impact of sanctions on the operator, the company does not expect any realization from this asset in the near term or at all. The carrying value of the Romanian project is nil so there will be no impact on the company's balance sheet. Additional information will be provided as it becomes known.