Mr. Brian Williamson reports

JERICHO ENERGY APPOINTS JAKE ROYSTER AS COO TO ADVANCE AI-DRIVEN ENERGY PLATFORM AND ENHANCE OPERATIONS

Jericho Energy Ventures Inc. has promoted Jake Royster to chief operating officer. Mr. Royster was previously appointed director of operations by Jericho Energy Ventures in April, 2025.

As COO, Mr. Royster will oversee execution of the company's power-generation strategy supporting its rapidly developing AI (artificial intelligence) data centre infrastructure, while advancing the expansion and value optimization of Jericho's legacy oil and gas assets amid improving market fundamentals.

Since joining Jericho as director of operations last year, Mr. Royster has delivered measurable operational and financial improvements across the company's legacy energy production business, including:

• Achieving Jericho's lowest per-barrel lifting costs in more than eight quarters in Q4 2025;
• Maintaining asset-level profitability despite a 17-per-cent decline in commodity prices versus Q4 2024;
• Implementing process-driven operational practices to streamline communications and improve efficiency;
• Strengthening operational discipline and safety standards across field operations.

"Jake has already demonstrated tremendous leadership since joining Jericho last year, delivering meaningful operational improvements across our energy portfolio while helping position the company for its next phase of growth," said Brian Williamson, chief executive officer of Jericho Energy. "His deep Mid-Continent operating experience coupled with his Halliburton training makes him the ideal leader to both advance the performance of our core energy assets and play a key role in executing our power generation strategy as we focus on developing energy solutions to support the rapidly expanding AI data center infrastructure market."

Closing of private placement and loan extension negotiation

Jericho Energy also announces the closing of the final tranche of its previously announced non-brokered private placement with the issuance of 6,724,658 units at a price of eight cents per unit for gross proceeds of $537,972.60. Each unit comprises one common share of the company and one-half of one share purchase warrant with each warrant entitling the holder to acquire one share of the company at an exercise price of 20 cents per share, exercisable for a period of 24 months from the date of issuance. Combined with the first tranche closing of the financing, the company has now issued an aggregate of 32,409,590 units and raised an aggregate of gross proceeds of $2,592,767.60 in the financing.

All securities issued under the final tranche of the financing are subject to a four-month-and-one-day hold period under applicable securities laws in Canada and the rules of the TSX Venture Exchange expiring on July 28, 2026. The financing has received conditional exchange approval and remains subject to final approval of the exchange. Net proceeds from the financing will be used to accelerate development of Jericho's planned flagship AI data centre campus and related energy-infrastructure in Oklahoma and for general working capital needs. No finders' fees or brokers' warrants will be paid in connection with the financing.

Additionally, the company reports that it is in advanced discussions to extend unsecured loans originally entered into in July, 2024, totalling $1,075,000 (U.S.) from three lenders under identical terms, including a 12-month maturity and an annual interest rate of 10 per cent. One of the lenders, an insider, provided $350,000 (U.S.) of the total amount. The loans remain outstanding, are non-convertible and no securities will be issued in connection with them. The company is actively negotiating an extension with all three lenders.

About Jericho Energy Ventures Inc.

Jericho Energy Ventures is uniquely positioned at the nexus of energy and AI infrastructure. Leveraging the company's long-producing oil and gas joint venture assets and robust Oklahoma infrastructure, the company is deploying scalable, on-site power solutions to build cutting-edge build-to-suit AI data centres. With direct access to abundant, low-cost natural gas, the company delivers efficient, high performance energy solutions -- reducing waste, maximizing output and unlocking long-term value in the rapidly converging AI and energy markets.

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