Mr. Kelly Kimbley reports

PETROFRONTIER CORP. PROVIDES UPDATE ON THE DELAY IN FILING OF ITS 2024 ANNUAL FINANCIAL STATEMENTS AND Q1 INTERIM FINANCIAL STATEMENTS

Further to the news releases issued on May 2, May 16 and May 31, 2025, whereby Petrofrontier Corp. announced that the Alberta Securities Commission issued a management cease trade order to Petrofrontier 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, Petrofrontier is experiencing continued delays with respect to the annual filings related to the receipt of financial information and other required information from the general partner of the company's limited partnership investment. The continued delays have impacted the ability of the company's external auditor to complete the audit. The company currently anticipates that it will be in a position to file the annual filings on or before June 26, 2025.

The company further announced that, 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 were not 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 on or before July 10, 2025. The ASC has confirmed that the MCTO will remain in effect until July 10, 2025.

The company confirms that, other than as disclosed in its news releases dated May 2, May 16 and May 31, 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 Petrofrontier for so long as the Q1 filings are not 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 annual filings and Q1 filings by issuing biweekly default status reports in the form of further news releases.

About Petrofrontier Corp.

Petrofrontier is a junior energy company currently focused on developing two Mannville heavy oil plays in the Cold Lake and Wabasca areas of Alberta.

Petrofrontier's head office is in Calgary, Alta., and its common shares are listed for trading on the exchange under the symbol PFC.

We seek Safe Harbor.