Mr. Philip Hodge reports

PINE CLIFF ENERGY LTD. ANNOUNCES NATURAL GAS SUPPLY AGREEMENT FOR AN ALBERTA DATA CENTRE DEVELOPMENT

Pine Cliff Energy Ltd. has entered into definitive agreements with a private company for the supply of between 3.2 million cubic feet per day and 4.8 MMcf/d of natural gas for an initial term of 25 years pursuant to a natural gas supply agreement. PrivateCo has agreed to construct and operate a data centre not connected to the Alberta electrical grid, adjacent to an operating Pine Cliff facility in central Alberta. Under the supply agreement, Pine Cliff will provide natural gas and will receive a natural gas price based on a rolling 12-month average of the New York Mercantile Exchange price. The supply of natural gas under the supply agreement will commence upon, among other things, the commissioning of the data centre. In third quarter 2024, Pine Cliff's production of natural gas averaged 108.0 MMcf/d.

The construction and operation of the data centre will be the sole responsibility of PrivateCo, and will be subject to applicable regulatory and government approvals and permits. The supply agreement includes conditions precedent for the supply and delivery of natural gas at the data centre, which include obligatory milestones for the timing of construction and receipt of regulatory approvals and timing of the data centre being commercially operational. Failure to meet these milestones could result in the early termination of the supply agreement and the lease.

About Pine Cliff Energy Ltd.

Pine Cliff is an Alberta-based natural gas and crude oil company with a long-term view of creating shareholder value.

We seek Safe Harbor.