Mr. Robert Bose reports

INTERIM RESULTS FOR THE THREE MONTHS ENDED MARCH 31, 2026

Sintana Energy Inc. has filed its interim financial statements for the three months ended March 31, 2026, and the accompanying management discussion and analysis (MD&A).

The following should be read in conjunction with the complete unaudited unreviewed interim financial statements and the accompanying MD&A for the three months ended March 31, 2026, which are available on SEDAR+ and on Sintana's website.

Q1 2026 operational and financial highlights:

• Completion of the all-share acquisition of Challenger Energy Group PLC and admission to trading on AIM (Alternative Investment Market) (both effective December, 2025), with integration progressing smoothly during Q1 2026;
• Galp Energia announced a 57-per-cent upgrade to 3C contingent resources at the Mopane discovery (PEL 83, offshore Namibia), from 875 million barrels of oil equivalent to 1.38 billion barrels of oil equivalent (gross); TotalEnergies confirmed an FID (final investmen decision) target of 2028 and first oil in 2032;
• Letter of intent signed securing exclusivity over a potential indirect interest in PEL 37, Walvis basin, offshore Namibia; definitive documentation expected in Q2 2026 and completion in the second half of 2026;
• 3-D seismic acquisition commenced over Area OFF-1, offshore Uruguay, with around 1,600 square kilometres acquired in the first season and fast-track results expected in Q4 2026;
• Settlement reached with ExxonMobil resolving the VMM-37 arbitration for total cash payments of $9-million ($3-million received and $6-million expected before year-end 2026); net loss reduced to $1.1-million (Q1 2025: $2.3-million); cash of $8.2-million at period-end;
• Net loss for Q1 2026 of $1.1-million, a reduction from $2.3-million in the comparative period in 2025, primarily reflecting the receipt of $2.3-million of net proceeds from the VMM-37 settlement, partially offset by higher general and administrative expenses;
• As at March 31, 2026, the company had total assets of $60.5-million (2025: $62.1-million), including cash of $8.2-million (2025: $10.3-million).

About Sintana Energy Inc.

Sintana Energy is an Atlantic Margin-focused oil and gas company, holding interests in a diverse portfolio of high-impact assets that spans the Southern Atlantic conjugate margin. The company's current portfolio is strategically positioned in the emerging frontier geographies of Namibia, Uruguay and Angola, with additional legacy assets in Colombia and the Bahamas. Led by an experienced team, Sintana Energy is partnered with major industry players and benefits from significant carry support on key licenses across multiple jurisdictions. Sintana Energy is listed on the TSX Venture Exchange in Canada under the symbol SEI, in the United Kingdom on the London Stock Exchange (Alternative Investment Market) under the symbol SEI and in the United States on the OTCQX under the symbol SEUSF.

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