Mr. Manuel Zuniga-Pflucker reports

PETROTAL ANNOUNCES Q4 2025 OPERATIONS AND FINANCIAL UPDATES, AND APPOINTMENT OF CHIEF OPERATING OFFICER

Petrotal Corp. has provided the following operational and financial updates. All amounts are in U.S. dollars unless stated otherwise.

Key highlights:

• Group production averaged 15,258 barrels of oil per day in Q4 2025 and 19,473 bopd in full-year 2025;
• Total cash of $139.1-million as of Dec. 31, 2025, of which $112.4-million is unrestricted;
• Appointment of Jorge Osorio as chief operating officer, effective Jan. 12, 2026.

Manuel Pablo Zuniga-Pflucker, president and chief executive officer, commented: "As we discussed on our Q3 2025 earnings call in mid-November, the entire Petrotal team is working hard to restore shut-in production and cash flow as we manage a period of weakness in oil pricing. I am pleased to report that recent wells have responded positively to production tubing replacements, and our current corporate production is in line with the November, 2025, forecast as we begin the new year.

"I would also like to welcome Jorge Osorio as Petrotal's new chief operating officer. Jorge has a strong track record operating major heavy oil projects in Colombia, including several with significant associated water production. He will be a tremendous asset to the company as we kick off the next phase of Petrotal's development. We remain confident in our ability to deliver sustainable production growth and look forward to providing additional details on Petrotal's development program when we release 2026 guidance later this month."

Q4 2025 production and operations update

Petrotal's group production averaged 15,258 bopd in Q4 2025, including 14,766 bopd from the Bretana field (Block 95; Petrotal 100-per-cent working interest) and 492 bopd from the Los Angeles field (Block 131; Petrotal 100-per-cent working interest). Cumulative annual production through Dec. 31 amounted to just over 7.1 million barrels, an increase of approximately 9.2 per cent compared with 2024. Petrotal's annual average production was 19,473 bopd in 2025.

As disclosed previously, the Bretana field has been producing below capacity since mid-August, 2025, due to leaks in production tubing, which necessitated the shut-in of five producing wells. Petrotal mobilized a service rig to Bretana in the first week of October, 2025, and, as of Jan. 7, 2026, has successfully replaced the production tubing in six wells. Group production during the first week of January, 2026, has averaged approximately 15,600 bopd, essentially flat to November, 2025, levels, and in line with the indicative 2026 production forecast published with Petrotal's Q3 2025 financial results on Nov. 13, 2025.

In mid-December, the Bretana field reached an important milestone when cumulative production passed 30 million barrels. At the time of Petrotal's recapitalization in late 2017, the Bretana field was estimated to hold proven reserves of 16.9 million barrels and 2P reserves of 37.5 million barrels; as of year-end 2024, Petrotal's 1P reserves had increased to 67 million barrels while its 2P reserves were estimated at 114 million barrels. Petrotal's management team remains confident in the future potential of the field as it prepares to ramp up the next phase of development over the 2026-to-2028 time frame.

Cash and liquidity update

Petrotal ended Q4 2025 with a total cash position of $139.1-million, of which approximately $112.4-million was unrestricted. This compares with unrestricted cash of $108.8-million at the end of Q3 2025 and $102.8-million at the end of 2024. Of the approximately $26.7-million that Petrotal carried as restricted cash on Dec. 31 2025, approximately $19.2-million was related to the escrow account of the COFIDE/BanBif loan.

As of Dec. 31, Petrotal's unaudited trade and other payables and trade receivables were approximately $60.4-million and $62.1-million, respectively (versus comparable values of $59-million and $66.9-million as of Sept. 30, 2025, respectively).

Petrotal did not initiate any new production hedges during Q4 2025. As of Jan. 7, the company maintains hedges on approximately 200,000 barrels over the period from Jan. 1, 2026, through March 30, 2026. Consistent with prior disclosure, the costless collars have a Brent floor price of $65 per barrel and a ceiling of $80.50 per barrel, with a cap of $100.50 per barrel. As of Jan. 7, Petrotal's production hedges had a fair value of approximately $800,000.

Appointment of chief operating officer

Effective Jan. 12, 2026, Mr. Osorio joined Petrotal as chief operating officer. In this role, Mr. Osorio oversees all major aspects of the company's operations and strategic execution, with responsibility for field operations, engineering, production and drilling.

Mr. Osorio brings 37 years of executive leadership experience in the upstream oil and gas industry, having held senior operational and project leadership roles at Ecopetrol and BP. As vice-president of upstream at Ecopetrol, Mr. Osorio managed a portfolio delivering 730,000 bopd, overseeing approximately $4-billion to $5-billion in annual capex (capital expenditure) and $2-billion to $3-billion in opex (operating expenditure). Under his leadership, Ecopetrol achieved its highest production since 2016, significant EBITDA (earnings before interest, taxes, depreciation and amortization) growth and industry-leading safety metrics. He developed and led initiatives that accelerated field development, optimized reserves progression and reduced greenhouse gas emissions, earning United Nations Gold Standard OGMP 2.0 recognition. Previously, Mr. Osorio held key roles in BP's Asia Pacific and Atlantic LNG (liquefied natural gas) operations, where he successfully implemented best practices in operational readiness, safety and integrity.

Mr. Osorio is widely recognized for translating his deep technical expertise and strategic vision into measurable results. His strong operational discipline and collaborative leadership approach have consistently driven performance, accelerated growth and delivered superior returns across complex portfolios.

About Petrotal Corp.

Petrotal is a publicly traded, triquoted oil and gas development and production company domiciled in Calgary, Alta., focused on the development of oil assets in Peru. Petrotal's flagship asset is its 100-per-cent working interest in the Bretana Norte oil field in Peru's Block 95, where oil production was initiated in June, 2018. In early 2022, Petrotal became the largest crude oil producer in Peru. The company's management team has significant experience in developing and exploring for oil in Peru and is led by a board of directors that is focused on safely and cost-effectively developing the Bretana oil field. It is actively building new initiatives to champion community-sensitive energy production, benefiting all stakeholders.

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