Mr. Garth Johnson reports

PULSE OIL CORP. ANNOUNCES AMENDMENTS TO FACILITY AGREEMENTS AND UPDATES EOR PROGRESS

Pulse Oil Corp. has entered into amending agreements to the two loan facility agreements with two arm's-length parties to the company (the lenders) announced in the company's press release of June 5, 2025. Pursuant to the amending agreements, each of the lenders has agreed to increase their respective loan to the company, in aggregate, from the sum of $2.25-million to $4.25-million. In addition, the loan maturity dates have been revised to June 9, 2026, unless the lender and borrower agree to the maturity date extension defined in the facility agreements, whereby the lenders and Pulse can agree to extend the maturity date by six months.

Pursuant to the facility agreements, the original loan amounts of $2.25-million were previously received by Pulse and invested directly into solvent for injection into the Nisku D oil pool; the additional $2-million will be made available in future drawdowns as agreed between Pulse and the lenders primarily to continue to finance the Bigoray EOR project's solvent injection program. The facility agreements provide that the principal bears interest at the rate of 15 per cent per annum, compounded monthly, with fixed partial interest payments being made on a quarterly basis, with the next payment becoming due on Dec. 31, 2025, in the amount of $10,000 with the remaining interest and principal being repayable on the earlier of June 9, 2026, or the date which is one week after the completion of any new debt or equity financing undertaken by Pulse, unless agreed otherwise in writing between Pulse and the lenders.

EOR progress

Pulse has been injecting approximately 75 cubic metres of solvent per day into the 100-per-cent-owned Nisku D pool consistently since June 9, 2025 (approximately 11,012 cubic metres), and a total of 23,034 cubic m since the EOR project began. Production at Pulse's Bigoray facility has increased by just over 20 per cent in response to the EOR flood to date. Pulse expects the production rates to continue to improve as the solvent bank grows and sweeps through the Nisku D pool. Additionally, Pulse has been monitoring various technical indicators of the produced oil, including the American Petroleum Institute (API) gravity as an indicator of the progression of the solvent through the reef. The API gravity of the oil at 12-04 (furthest well from the injection point) has increased from 40.3 to 41.1. At Pulse's 15-04-051-09W5 well (closest well to the injection point), the API gravity has now increased from 41.50 in June, 2025, to 52.60 in November, 2025. These independent lab-measured results give Pulse's team high levels of confidence the flood is working as forecasted with the injected solvent becoming miscible with the remaining oil in place.

Pulse Oil chief executive officer Garth Johnson commented: "This additional funding allows us to continue to advance the solvent injection phase of our Bigoray EOR project that has been ongoing since June 12, 2025. Currently, solvent prices remain low and we are fortunate to be able to continue injection daily at these lower prices. The EOR project is beginning to show positive results within our Nisku D pool. The Nisku D and E pools have already produced nine million barrels of sweet light crude oil on primary and water flood production. Analogue pools surrounding Pulse's D and E pools which have implemented EOR solvent injection, have all enjoyed significant further oil production from these prolific pools. We will continue to monitor injection and production rates as we continue to execute our EOR program plan."

About Pulse Oil Corp.

Pulse is a Canadian company incorporated under the Business Corporations Act (Alberta) that is primarily focused on a 100-per-cent working interest in the EOR project located in west-central Alberta, Canada. The project includes two established Nisku pinnacle reef reservoirs that have been producing sweet light crude oil for over 40 years.

The company has instituted a proven recovery methodology (NGL (natural gas liquids) solvent injection) to further enhance the ultimate oil recovery from these two proven pools. With under 10 million barrels of oil recovered to date, and representing approximately 30-per-cent recovery factor from the pools, Pulse is moving forward to execute the EOR project and unlock significant value for shareholders. Pulse's total reclamation liabilities are just $3.1-million which, when compared with many peers in the industry in Western Canada, are very low.