Mr. Archie Nesbitt reports

MARKSMEN ENERGY INC. PROVIDES UPDATE ON THE FILING OF ITS 2024 ANNUAL FINANCIAL STATEMENTS

Further to the company's news release dated May 1, 2025, the Alberta Securities Commission, as principal regulator of the company, has issued a management cease trade order (MCTO) to Marksmen Energy Inc., pursuant to its application under National Policy 12-203, Management Cease Trade Orders, in respect of the default regarding the delay of the filing of its annual financial statements, accompanying management's discussion and analysis, and the related chief executive officer and chief financial officer certifications for the financial year ended Dec. 31, 2024.

Marksmen continues to work closely with its auditor, MNP LLP, and is making every effort to submit the annual filings in a timely fashion and expects to file no later than June 15, 2025. The company confirms that since its news release dated May 1, 2025, there is no other material information concerning the affairs of the company that has not been generally disclosed.

The MCTO prohibits the CEO and the CFO from trading in securities of Marksmen for two full business days after the annual filings have been filed. The issuance of the MCTO does not affect the ability of persons other than the CEO and the CFO of the company to trade in the company's securities.

Until the annual filings have been filed, the company confirms that it intends to continue to satisfy the provisions of the alternative information guidelines specified in NP 12-203 for so long as it remains in default as a result of the late filing of the annual filings by issuing biweekly default status reports in the form of further news releases.

We seek Safe Harbor.