Mr. Max Sali reports

MONUMENTAL ENERGY ANNOUNCES PERFORATIONS HAVE COMMENCED AT THE WAIHAPA H1 WELL

Monumental Energy Corp. has mobilized the operations crew from the Ngaere-1 well to the Waihapa H1 well, located only a few kilometres away, in partnership with New Zealand Energy Corp. and L&M Energy Ltd. (see the company's news releases dated Jan. 13, 2026, and March 5, 2026).

New Zealand Energy holds a 50-per-cent interest in petroleum mining licences 38140 and 38141, located in the onshore Taranaki basin, New Zealand, pursuant to a joint operating agreement between New Zealand Energy and LME.

The partnership enables Monumental to participate in mutually agreed-upon appraisal and development workover projects with New Zealand Energy aimed at increasing oil and gas production from the area covered by the licences. The parties have selected the Waihapa H1 well as the next project under the partnership.

About Waihapa H1

Waihapa H1 was drilled in 2008 and produced significant oil rates from the lower Tikorangi formation at significant rates above 1,500 barrels a day and is still a small producing well since no additional work has been done to restimulate. The New Zealand Energy and Monumental exploration team have identified 60 metres of prospective bypass pay in the Mount Messenger formation, which is the same zone that was perforated at Ngaere-1 (March 5, 2026, news release).

Seven six-metre perforations will occur over the course of this week, and flow testing will begin immediately. Numbers will be released to the market after an appropriate flow test has been completed.

The Mount Messenger formation is the primary zone in the highly successful adjacent Cheal oil field, which has produced roughly 12 million barrels of oil from a relatively small area size. Due to the success at Ngaere 1, it has been decided to perforate the H1 well over an extended zone, and Monumental is optimistic that oil and gas will be flowed.

The Waihapa H1 well is located within sight of the Waihapa production facility, allowing associated gas to be connected directly to the facility for immediate processing and production. Current natural gas prices in New Zealand range from approximately $10 (U.S.) to $15 (U.S.) per thousand cubic feet, making it one of the highest gas price environments globally.

Immediate program and timing

Following the strong initial results from the cost-effective perforation of the Mount Messenger formation at the Ngaere-1 well, the partnership has moved quickly to advance similar operations at additional wells within the permit area.

Operational crews have been mobilized from Ngaere-1 to the Waihapa H1 well, where perforation operations are currently under way. These perforations are targeting the Mount Messenger formation, the same interval that has demonstrated encouraging early production results at Ngaere-1.

Upon completion of the Waihapa H1 program, the partnership intends to proceed with similar perforation operations at the Ngaere-2 well next week given no delays.

Management believes these follow-up perforation programs represent an efficient method of accessing previously bypassed hydrocarbon zones within existing wells. Success at Waihapa H1 and Ngaere-2 could further demonstrate the broader productivity of the Mount Messenger formation across the permit area and support additional near-term production growth for the partnership.

The company will provide further updates as operations progress and production data become available.

Management change

The company also announces that Michelle DeCecco has resigned as chief executive officer of the company, effective March 9, 2026. Max Sali, who currently serves on the board of directors and as vice-president, corporate development, founder and significant shareholder of the company, has been appointed as CEO. Ms. DeCecco will remain on the board of directors. The company thanks Ms. Dececco for her role as CEO and looks forward to working closely with her as a member of the board.

About Monumental Energy Corp.

Monumental Energy is an exploration company focused on the acquisition, exploration and development of properties in the critical and clean energy sectors. The company is building a strategic position in New Zealand's onshore Taranaki basin, targeting near-term oil production and longer-term natural gas development.

The company has partnered with New Zealand Energy on production optimization and workover opportunities across existing fields. The company also holds securities of New Zealand Energy and a call option and royalty interest related to the Copper Moki wells.

Monumental additionally maintains exposure to the critical mineral sector through a 2-per-cent net smelter return royalty on Summit Nanotech's interest in the Salar de Turi lithium project in Chile.

We seek Safe Harbor.