Mr. Archie Nesbitt reports

MARKSMEN ENERGY INC. PROVIDES UPDATE ON THE FILING OF ITS 2024 ANNUAL FINANCIAL STATEMENTS AND Q1 INTERIM FINANCIAL STATEMENTS

Marksmen Energy Inc. is providing this update further to its news release dated May 15, 2025, with respect to the Alberta Securities Commission having issued a management cease trade order to Marksmen 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 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.

As a result of the delay in filing the annual filings, the company's interim financial statements for the three months ended March 31, 2025, the accompanying management's discussion and analysis, and related CEO and CFO certifications will not be filed by the prescribed deadline of May 30, 2025. The company currently anticipates that it will be in a position to file the first quarter filings by June 30, 2025. The ASC has confirmed that the MCTO will remain in effect until June 30, 2025.

The company confirms that, other than as disclosed in its news release dated May 15, 2025, or as set out herein, 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 and Q1 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 and Q1 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 and Q1 filings by issuing biweekly default status reports in the form of further news releases.

We seek Safe Harbor.