Mr. Philip O'Quigley reports

FALCON OIL & GAS LTD. - SHAREHOLDINGS IN COMPANY

Falcon Oil & Gas Ltd. was notified on Oct. 3, 2025, that Sheffield Holdings LP now holds 109,655,398 common shares of the company, representing 9.89 per cent of the currently issued and outstanding common shares of the company.

About Falcon Oil & Gas Ltd.

Falcon Oil & Gas is an international oil and gas company engaged in the exploration and development of unconventional oil and gas assets, with the current portfolio focused in Australia, South Africa and Hungary. Falcon Oil & Gas is incorporated in British Columbia, Canada, and headquartered in Dublin, Ireland.