Mr. John Jeffrey reports

SATURN OIL & GAS INC. ANNOUNCES COMPULSORY ACQUISITION FOR THE COMMON SHARES OF BURGESS CREEK EXPLORATION INC. FOLLOWING EXPIRY OF THE OFFER

Saturn Oil & Gas Inc. has provided an update on the previously announced offer by Saturn to purchase all of the issued and outstanding common shares of Burgess Creek Exploration Inc., a privately held, 97-per-cent-light-oil-and-liquids-weighted producer with assets in the heart of Saturn's core southeastern Saskatchewan Oxbow area. Following expiry of the offer and the mandatory 10-day extension period, Saturn has taken up and paid for 133,408,948 common shares pursuant to the offer, representing over 99.7 per cent of the issued and outstanding common shares. As the offer has expired, Saturn will complete the acquisition of the remaining outstanding common shares in accordance with the compulsory acquisition provisions in the Business Corporations Act (Alberta).

Under the terms of the compulsory acquisition and subject to the terms of the Business Corporations Act (Alberta), the holders of all remaining common shares not held by Saturn will be entitled to receive the same consideration per share as paid under the offer. Further details will be provided in the notice of compulsory acquisition to be mailed to such shareholders.

To receive payment for their common shares, the remaining holders of common shares must submit the letter of transmittal circulated with the notice of compulsory acquisition along with all certificate(s) representing their common shares to the depositary under the offer. Saturn intends to pay the cash consideration for the remaining common shares on or about Aug. 26, 2026. Remaining holders of common shares are requested to return their duly completed letter of transmittal before Aug. 26, 2026.

About Saturn Oil & Gas Inc.

Saturn is a returns-driven Canadian energy company focused on the efficient, responsible and innovative development of high-quality, light-oil-weighted assets, supported by an acquisition strategy targeting accretive and complementary opportunities. The company's portfolio of free-cash-flowing low-decline operated assets in Saskatchewan and Alberta provides a deep inventory of long-term economic drilling opportunities across multiple zones. With an unwavering commitment to building an entrepreneurial and safety-focused culture, Saturn has a goal to increase per-share reserves, production and cash flow at an attractive return on invested capital. The company's shares are listed for trading on the Toronto Stock Exchange under the ticker SOIL and on the OTCQX under the ticker OILSF.

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