Mr. Ray de Ocampo reports

ONENERGY INC. ANNOUNCES UPDATE TO PROPOSED REVERSE TAKEOVER TRANSACTION

ONEnergy Inc. has provided an update on the proposed acquisition of two gold projects, being the Golden Heart property and the Bingo gold deposit from Matrixset Investment Corp., which will constitute a reverse takeover of the company, previously disclosed in the company's news release dated July 2, 2025. The company and Matrixset have entered into an extension agreement extending the letter of intent with respect to the transaction until Aug. 31, 2025. The parties continue to work toward the preparation and signing of the definitive agreement and will provide further updates once available.

Completion of the transaction is subject to a number of conditions, including, among other items, the entering into a definitive agreement and receipt of all required regulatory and third party consents, including approval of the transaction by the TSX Venture Exchange and the listing of the company on the TSX-V as a Tier 1 mining issuer.

About ONEnergy Inc.

ONE's common shares are listed on the NEX board of the TSX-V under the symbol OEG.H.