Mr. Toby Pierce reports

NEW ZEALAND ENERGY CORP. ANNOUNCES REINSTATEMENT TO TRADING

Trading in New Zealand Energy Corp.'s common shares will be reinstated on the TSX Venture Exchange shortly. The company thanks its shareholders for their patience throughout this process. In connection with the reinstatement of trading, the company also provides the following corporate updates.

The attached table sets out the members of the company's board of directors and identifies those directors who are independent within the meaning of applicable TSX-V policies, as well as the members of the company's audit committee.

Following the resignation of Frank Jacobs as a director on May 14, 2026, the board currently comprises only one independent director, Bill Treuren. As a result, the company does not currently satisfy the requirement under exchange Policy 3.1 to maintain at least two independent directors on its board.

The company has been actively searching for a suitable candidate to fill the resulting vacancy and restore compliance with the TSX-V requirement. The company intends to announce the appointment of a new independent director by way of a further news release once the appointment has been finalized in due course.

The company has been placed on a 90-day notice, pursuant to TSX-V Policy 3.1, Section 5.7, to satisfy the independent director requirement, effective in conjunction with the reinstatement of trading in the company's common shares.

The company also refers to its previous news release dated March 21, 2024, and confirms that the company's original engagement letter with Auctus Advisors LLP, dated Feb. 20, 2024, remains active, and that Auctus has continuously acted as the company's investor relations provider since February, 2024.

The company further discloses that it engaged Auctus pursuant to a corporate finance adviser appointment letter dated Dec. 30, 2024, as amended by a side letter dated July 16, 2025, which extended the term of the engagement to Sept. 30, 2025. The company re-engaged Auctus pursuant to a corporate finance adviser appointment letter dated Feb. 10, 2026, for a fixed term expiring June 30, 2026. Under each of these engagements, Auctus's services to the company were for corporate finance advisory services, including M&A (merger and acquisition) screening, M&A buy-side execution support, and general corporate strategy and financial modelling advice. Total consideration paid to Auctus under the 2024 engagement was 150,000 pounds sterling ($272,750 (Canadian) equivalent, based on the exchange rates in effect on the applicable payment dates). Total consideration paid to Auctus under the 2026 engagement was $175,000 (Canadian).

About New Zealand Energy Corp.

New Zealand Energy is a publicly listed energy company focused on the development of oil, gas and gas storage opportunities in New Zealand. The company holds interests in multiple heritage assets and development-stage projects, including the Tariki gas storage project in Taranaki. With a 50-per-cent ownership stake in the Waihapa production station, the company can quickly tie in any near-term production and sell directly to market.

We seek Safe Harbor.