Mr. Dave Burton reports

LYCOS ENERGY INC. ANNOUNCES RENEWAL OF NORMAL COURSE ISSUER BID

Lycos Energy Inc. has received acceptance from the TSX Venture Exchange in respect of its intention to commence a normal course issuer bid (NCIB) for its outstanding common shares in accordance with the rules and policies of the exchange.

Lycos is renewing the NCIB because it is of the view that at certain times, the trading price of its common shares may not fully reflect the underlying value of the company's business. As such, having the ability to repurchase common shares for cancellation may represent an attractive opportunity to deploy financial resources as a means of potentially enhancing the company's per-common-share metrics, thereby increasing the underlying value of the common shares for all shareholders.

The company had 131,852,762 common shares issued and outstanding as at Oct. 27, 2026. The NCIB allows Lycos to repurchase up to 10,661,989 common shares of the company, representing approximately 10 per cent of the company's 106,619,894 public float (as defined by the exchange) as at the date hereof. The NCIB commences on Nov. 2, 2026, and terminates on the earlier of Nov. 1, 2027, and the date on which the company has acquired the maximum number of common shares allowable under the NCIB or the NCIB is terminated at the option of the company. The actual number of common shares that may be repurchased pursuant to the ncib will be determined by management of the company.

In connection with the NCIB, Lycos has entered into an automatic share purchase plan with its designated broker, National Bank Financial Inc. (NBF), to facilitate the purchase of common shares under the NCIB. The plan allows for purchases by the company of its common shares at any time, including, without limitation, when the company would ordinarily not be permitted to make purchases due to regulatory restriction or self-imposed blackout periods. Such purchases will be made by NBF based upon the parameters established by the company prior to any blackout period or any period when it is in possession of material undisclosed information. Outside of these blackout periods, common shares will be repurchased in accordance with management's discretion, subject to applicable law.

The NCIB will be made through the facilities of the TSX-V and/or alternative trading systems and the purchase and payment for the common shares will be made in accordance with TSX-V requirements at the market price of the common shares at the time of acquisition, plus brokerage fees, if any, charged by NBF. All common shares purchased by the company under the NCIB will be cancelled.

To the company's knowledge, none of the directors, senior officers or insiders of the company, or any associate of such person, has any present intention to sell any common shares under the NCIB.

The company is presently permitted to repurchase up to 4,661,208 common shares under its current NCIB, which commenced on Nov. 3, 2025, and ends on Nov. 2, 2026. As at the date of this news release, the company has repurchased nil common shares under the expiring NCIB.

About Lycos Energy Inc.

Lycos is an oil-focused, exploration, development and production company based in Calgary, Alta., operating high-quality heavy oil development assets in the east-central Alberta area.

We seek Safe Harbor.