Mr. Brian Paes-Braga reports

NG ENERGY PROVIDES UPDATE ON OPERATIONS AT SINU-9 AND MARIA CONCHITA

NG Energy International Corp. has provided an operational update on activities at its Maria Conchita and Sinu-9 blocks in Colombia. The company's working interests in the Maria Conchita block and the Sinu-9 block are held through Operadora NG Energy Sucursal en Colombia (formerly, MKMS Enerji Sucursal Colombia), the Colombian branch of the company's indirect wholly owned subsidiary, Operadora NG Energy International S.A. (formerly, MKMS Enerji Anonim Sirketi S.A.).

• Magico-2X, the second well of the six-well 2026 drilling program at Sinu-9, was spudded on June 26, 2026, primarily targeting the newly discovered Pre-CDO-San Cayetano formation.
• Infraes pipeline loop to Jobo has been completed; commissioning activities at the Jobo and Guayabal facilities are under way over the coming weeks, expected to increase transportation capacity at Sinu-9 to 40 to 45 MMcf/d (million cubic feet per day) gross (15.6 to 17.6 MMcf/d net).
• Hechicero-1X has tested at rates of up to 26.4 MMcf/d gross (10.3 MMcf/d net) from the Pre-CDO-San Cayetano zone, with M&P Colombia managing the well at a sustainable rate of approximately 15 MMcf/d gross (5.85 MMcf/d net) consistent with sound reservoir management practices.
• Current production at Sinu-9 is approximately 17.5 MMcf/d gross (6.8 MMcf/d net).
• Total field production at Maria Conchita is currently approximately 14.8 MMcf/d gross (11.8 MMcf/d net), with current infrastructure supporting up to 30 MMcf/d gross (24.0 MMcf/d net) of processing and transportation capacity.
• The company's next development well at Maria Conchita, Aruchara-6, is expected to spud immediately following the completion of the continuing Aruchara-1 workover, which is expected to be completed by July 10, 2026.
• The company received the $15-million (U.S.) instalment payment from Etablissements Maurel & Prom S.A. due in June, 2026, bringing total cash received from the M&P transaction to approximately $135-million (U.S.) to date.

Sinu-9 block

The Magico-2X well -- The second well of the current six-well drilling program at Sinu-9 operated by Maurel & Prom Colombia Sociedad Ltd. -- was spudded on June 26, 2026, with the Pre-CDO-San Cayetano formation as its primary target. The well is designed with three sections (16 inch, 12-one-quarter inch and 6-three-quarter inch) to a total measured depth of 7,500 feet. Drilling and completion of the well is expected to take approximately 35 days, with the well to be connected to the central processing facility for production thereafter.

Magico-2X's focus on the Pre-CDO-San Cayetano formation follows the strong deliverability demonstrated at the Hechicero-1X well, which has tested at rates of up to 26.4 MMcf/d gross (10.3 MMcf/d net) from this zone -- the newly discovered formation that has opened a wider area for natural gas presence at this stratigraphic level across the Sinu-9 block. Following this testing, M&P Colombia has determined to manage the well at a sustainable production rate of approximately 15 MMcf/d gross (5.85 MMcf/d net) from the Pre-CDO-San Cayetano zone, consistent with sound reservoir management practices to protect the long-term performance and integrity of the well.

The initial pipeline loop to Jobo, constructed by the company's infrastructure partner Infraes SAS ESP, has been completed. Mechanical commissioning activities at the Jobo and Guayabal facilities are under way over the coming weeks and are expected to increase transportation capacity at Sinu-9 from its current 30 MMcf/d gross (11.7 MMcf/d net) to between 40 and 45 MMcf/d gross (15.6 to 17.6 MMcf/d net).

Current production at Sinu-9 is approximately 17.5 MMcf/d gross (6.8 MMcf/d net).

Maria Conchita block

Total field production at Maria Conchita is currently approximately 14.8 MMcf/d gross (11.8 MMcf/d net). The Maria Conchita block benefits from current infrastructure supporting up to 30 MMcf/d gross (24.0 MMcf/d net) of processing and transportation capacity.

The next development well at Maria Conchita, Aruchara-6, is expected to spud immediately following completion of the continuing Aruchara-1 workover. Workover operations at Aruchara-1 commenced on June 15, 2026, and are expected to be completed by July 10, 2026, targeting the isolation of currently produced zones, the opening of new zones, the deployment of sand control equipment, characterization of upper intervals and recompletion of the well. Civil works at the Aruchara-6 location are expected to commence during the coming week, with the drilling rig to be mobilized to the well immediately following completion of the Aruchara-1 workover.

M&P transaction update

The company has received the $15-million (U.S.) instalment payment from Etablissements Maurel & Prom S.A. due in June, 2026, in connection with the Sinu-9 transactions (see company news release dated Jan. 6, 2026), bringing total consideration received on the transaction to approximately $135-million (U.S.) to date. The remaining $15-million (U.S.) instalment is expected to be received in July, 2026, which will bring total consideration received on the transaction to the full $150-million (U.S.).

Jorge Fonseca, chief executive officer of NG Energy, commented: "We are pleased that M&P Colombia, as operator of the Sinu-9 block, delivered the spud of Magico-2X on schedule, targeting the Pre-CDO-San Cayetano formation as its primary target. Hechicero-1X has already demonstrated the strength of this zone, testing at rates of up to 26.4 MMcf/d gross and now sustaining steady production at 15 MMcf/d -- exactly why we believe Pre-CDO-San Cayetano has the potential to be a key driver of production growth across the Sinu-9 block as the six-well campaign advances. Combined with the completion of the Infraes pipeline loop to Jobo, we are positioning the block for a meaningful step-up in takeaway capacity as commissioning progresses over the coming weeks. At Maria Conchita, our team is advancing the Aruchara-1 workover ahead of spudding Aruchara-6, our next development well at the block. It is a productive period across both of our assets, and we look forward to providing further updates as this work progresses."

About NG Energy International Corp.

NG Energy International is a growth-orientated natural gas exploration and production company focused on delivering long-term shareholder and stakeholder value through the discovery, delineation, and development of large-scale oil and gas fields in the Americas, supporting energy transition and economic growth. NG's team has extensive technical and capital markets expertise with a proven record of building companies and creating significant value in North and South America. In Colombia, the company is executing on this mission with a rapidly growing production base and an industry-leading growth trajectory, delivering natural gas into the premium-priced Colombian marketplace with a goal of being a material supplier of clean natural gas to Colombia and a broader vision of becoming a global energy platform business and providing prosperity for all stakeholders. Over the past three years, the company has successfully raised and deployed over $200-million (U.S.) in debt and equity, monetized 40 per cent of one of its assets for $150-million (U.S.) in cash and has partnered in the construction and commissioning of three gathering, processing and treatment facilities, and associated pipelines with significant capital contributions from insiders who currently own approximately 32 per cent of the company.

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