Mr. Abdel Badwi reports

TAG OIL PROVIDES OPERATIONS UPDATE AND RESULTS FOR 2025 FINANCIAL YEAR END

TAG Oil Ltd. has provided an operations and financial update.

Production from the BED4-T100 (T100) horizontal well and the BED 1-7 vertical well at the Badr oil field (BED-1) located in the Western Desert of Egypt averaged approximately 80 barrels of oil per day (bopd) on a combined basis during the fourth quarter of 2025. For the full year ended Dec. 31, 2025, average production was approximately 84 bopd and cumulative production to date from the two wells has exceeded 83,000 barrels (field gross production).

Both the T100 and BED 1-7 wells continue to operate under artificial lift using sucker rod pumping systems and have demonstrated stable production performance. Crude oil deliveries have continued on a regular basis to the Ras Gharib processing facilities. The company continues to evaluate reservoir performance and optimize production parameters to support future development planning.

TAG Oil is also pleased to report the filing of its financial results for the fiscal year ending Dec. 31, 2025. A copy of TAG Oil's financial statements, and management discussion and analysis for its most recently completed financial year are available on SEDAR+ and on the company's website.

For the year ended Dec. 31, 2025, the company generated oil sales of approximately $1.39-million, compared with $860,000 in 2024, and reported a net loss of $4.8-million (2024: $6.3-million). As at Dec. 31, 2025, the company had $2.5-million in cash and approximately $1.9-million in working capital.

During the year, TAG Oil advanced its operations in Egypt, including the extension of the evaluation period under the BED-1 petroleum services agreement to Oct. 13, 2028. The extension provides additional time to drill two additional wells and further evaluate the commercial potential of the Abu Roash F reservoir. The company also strengthened its balance sheet during 2025 through the sale of its New Zealand and Australian royalty interests, generating total proceeds of approximately $3.2-million (U.S.).

Looking ahead, subsequent to year-end, TAG Oil completed a brokered financing for gross proceeds of $11.5-million in February, 2026, significantly enhancing the company's liquidity position. The proceeds are expected to be used to advance appraisal and development activities at both the BED-1 and Southeast Ras Qattara concessions, including drilling and fracture evaluation programs. The company continues to evaluate joint venture opportunities and additional strategic acquisitions to support the advancement of its unconventional resource portfolio in Egypt and the broader Middle East and North Africa region.

About TAG Oil Ltd.

TAG Oil is a Canadian-based international oil and gas exploration company with a focus on operations and opportunities in the Middle East and North Africa.

We seek Safe Harbor.