Mr. Jason D'Silva reports

TEMPORARY SHUT-DOWN FOR CORRECTIVE MAINTENANCE AT PX ENERGY

Questerre Energy Corp.'s PX Energy oil shale processing facility in southern Brazil has been temporarily shut down for emergency corrective maintenance. This follows a critical pipe failure in the furnace that supplies heat to the main processing facility. Operations personnel initiated the shutdown promptly to limit any further impact to equipment.

No injuries resulted from the incident and no damage was sustained to the main processing facility. The shutdown is currently estimated to last approximately three to four weeks. During this time, the facility will be offline, resulting in lost production and revenue for the period. The company estimates the direct cost of the corrective work at approximately $1.5-million.

The company plans to use the shutdown to carry out additional maintenance work to increase production. This work is designed to improve the inefficiencies at the main processing facility that developed following the previous scheduled plant turnaround in 2025. These improvements are forecast to enhance operating efficiency and increase production rates once the plant returns to service.

The company anticipates completing this work now should improve operating efficiency and support higher production rates once the facility returns to service. The company believes the resulting production improvements could, over the following three to six months, help offset the operating costs and lost revenue associated with the shutdown. There can be no assurance that this will be achieved: The anticipated improvements depend on the successful remediation of the 2025 turnaround deficiencies, and unforeseen issues identified during the work could extend the duration of the shutdown or its cost.

The company still expects to proceed with its next scheduled plant turnaround in May, 2027, as several of the components to be replaced at that time require long lead times and will not be available until next year.

Questerre will provide a further update on the progress and results of the turnaround upon completion of the work.

Questerre is an energy technology and innovation company focused on responsibly developing oil and gas resources.

We seek Safe Harbor.