Mr. Jeremy Hodder reports

TUKTU RESOURCES LTD. ANNOUNCES MAILING OF MANAGEMENT PROXY MATERIALS FOR REQUISITIONED MEETING

Tuktu Resources Ltd. has mailed proxy materials pertaining to the special meeting of the company's shareholders in response to a requisition from certain shareholders (the dissident group), as noted in Tuktu's press releases dated Oct. 23, 2025, and Nov. 10, 2025. The meeting is scheduled to be held at 10 a.m. (Calgary time) on Thursday, Jan. 15, 2026, at 4200, 888 -- 3rd St. SW, Calgary, Alta., T2P 5C5.

The requisition was received from the dissident group, led by Jim Richardson, and including director and former president and chief executive officer Tim de Freitas. By this action, the dissident group has required Tuktu to call a special meeting of shareholders to consider the approval of resolutions to consider the following with concurrent effect: (a) the appointment of the following individuals to the board: Jim Masikewich, Timur Ganiev, Don Hamilton and Tim de Freitas (collectively, the dissident nominees); (b) the removal from the board of Robert Dales, William Guinan, Natalie Sweet, Kathleen Dixon and Robert Yurchevich; and (c) the fixing of the number of directors of the corporation at four members.

Tuktu's response to the requisition

On Nov. 10, 2025, the corporation announced that it scheduled the meeting in response to the requisition in full compliance with applicable corporate and securities laws, as well as established governance best practices. At the meeting, shareholders will be asked to consider the dissident resolution and the removal of Mr. de Freitas as a member of the board.

Board recommendation

The board recommends that shareholders:

• Vote against the dissident resolution;
• Vote for the director removal resolution to remove Mr. de Freitas from the board.

The board's recommendations are intended to provide for a cohesive board of directors comprises Kathleen Dixon, Robert Dales, William Guinan, Natalie Sweet and Robert Yurchevich following the meeting, which will strengthen board alignment and support the corporation's sustained growth in the best interests of all Shareholders.

Your vote is important! The current board of directors and management team of Tuktu have a clear strategy and are committed to maximizing shareholder value. The corporation is reorienting its corporate strategy under the leadership of Jeremy Hodder, Tuktu's new president and chief executive officer, to continue to reduce G&A (general and administrative) expenses and add shareholder value through disciplined spending at Tuktu's Monarch Banff formation land block. Tuktu intends to continue to high-grade its asset base to align organizational resources and capital with the highest risk-adjusted returns by divesting of uneconomic assets, reducing asset retirement obligations and associated liabilities and focusing on the Monarch Banff oil play.

The meeting and proxy materials

Tuktu has set Jan. 15, 2026, as the date for the meeting. The record date for the meeting is Dec. 1, 2025.

Shareholders are encouraged to review the management information circular dated Dec. 15, 2025, regarding the matters to be voted on at the meeting. Copies of the management information circular and the form of proxy are available for viewing on the company's SEDAR+ profile and will be delivered to shareholders in due course.

We seek Safe Harbor.