Mr. Michael Binnion reports

QUESTERRE UPDATES DEVELOPMENTS IN QUEBEC

Questerre Energy Corp. has provided an update on recent public comments by political leaders and observers in Quebec regarding the province's energy security and the potential role of local natural gas development as well as a notice from the government. Following the completion of the corporate reorganization in January, 2026, the economic rights to the Quebec assets are held by the Series 2 preferred shareholders of the company.

Michael Binnion, president and chief executive officer of Questerre, commented: "We welcome recent comments and public debate regarding Quebec's strategic autonomy in energy, including the potential study of natural gas development. Energy security is becoming an increasing priority in a rapidly evolving geopolitical and economic landscape. The province's significant natural gas resources in the Quebec Utica could play an important role in supporting this objective."

A peer-reviewed full-cycle environmental study by CIRAIG indicated the significant environmental benefits of local gas development. The study is available on Questerre's website. The comprehensive strategic environmental assessment conducted by the government of Quebec similarly found that net environmental impacts are manageable. Mr. Binnion further noted, "There are few projects in Canada that could have a greater positive impact on the environment."

Questerre received notice from the Ministry of Economy, Innovation and Energy reminding the company of its obligations under Bill 21, following the Supreme Court of Canada's decision not to hear Questerre's appeal to maintain the stay. Among other requirements, Questerre has been asked to demonstrate $11-million in liquidity for the future well abandonments. Pursuant to Bill 21, the government of Quebec is responsible for 75 per cent of these abandonment and reclamation costs. Questerre is assessing the potential of these wells for use as pilot wells in its carbon sequestration pilot program. The company will work co-operatively with the government to meet its obligations on a reasonable and timely basis.

Questerre remains committed to a political and business solution to develop its natural gas discovery in the Quebec Utica, widely recognized as one of the most significant undeveloped natural gas resources in Eastern Canada. The company continues to engage constructively with stakeholders to support the responsible development of Quebec's energy resources while protecting the interests of its shareholders.

Questerre is an energy technology and innovation company focused on responsibly developing oil and gas resources. The company holds a significant natural gas discovery in the Quebec Utica shale, widely recognized as one of the most important undeveloped natural gas resources in Eastern Canada. The company believes society can successfully transition its energy portfolio. With new clean technologies and innovation to responsibly produce and use energy, society can sustain both human progress and the natural environment.

Questerre is a believer that the future success of the energy industry depends on a balance of economics, environment and society. Questerre is committed to being transparent and is respectful that the public must be part of making the important choices for the energy future.

We seek Safe Harbor.