Mr. J. Cameron Bailey reports

ROBINSON ENERGY LIMITED COMMENCES TRADING ON THE TSX VENTURE EXCHANGE

Robinson Energy Ltd. (formerly Cobra Venture Corp.)'s common shares commenced trading on the TSX Venture Exchange under the symbol ROB on June 22, 2026, following the successful closing of its previously announced reverse takeover involving Cobra Venture Corp. and Robinson Energy Ltd.

Business of the corporation

The corporation will continue the business of Robinson and intends to remain listed as a Tier 2 oil and gas issuer on the exchange. The corporation's principal asset is petroleum retention licence 62, a 1,134-square-kilometre block in the Papuan foreland and fold belt basin containing several discovered gas accumulations (including the Puk Puk, Weimang, Langia and Platypus discoveries) and additional exploration prospects. The corporation is pursuing a regional gas development strategy aimed at commercializing these resources through integrated gas field development, gathering and pipeline infrastructure, and liquefied natural gas and domestic market opportunities.

Share capital

Upon closing of the transaction on June 17, 2026, the corporation issued an aggregate of 14,796,887 shares to former Robinson shareholders at a deemed price of $2 per share, with 16,616,262 shares issued and outstanding upon listing. Additionally, the corporation adopted Robinson's option plan and granted 1,067,985 options at a $2 exercise price on June 17, 2026. These options vest at 8.333 per cent at the end of each financial quarter following grant and expire four years from the date of grant.

Further information

Further details regarding the transaction are contained in the joint management information circular of Cobra and Robinson dated May 14, 2026, filed under the corporation's profile on SEDAR+.

We seek Safe Harbor.