Ms. Janet Lee-Sheriff reports

VERDERA ENERGY ANNOUNCES COMPLETION OF SHARE DISTRIBUTION TO ENCORE ENERGY SHAREHOLDERS

EnCore Energy Corp. has completed the previously announced distribution of Verdera Energy Corp. shares to EnCore shareholders of record as of Sept. 25, 2026. The distribution was completed on Sept. 30, 2026.

The distribution consisted of an aggregate of 35 million Verdera shares, composed of:

• 21 million unrestricted Verdera shares, representing 0.108 of an unrestricted Verdera share for each EnCore share held;
• Seven million Verdera shares restricted until Nov. 20, 2026, representing 0.036 of a restricted Verdera share for each EnCore share held; and
• Seven million Verdera shares restricted until Feb. 20, 2027, representing 0.036 of a restricted Verdera share for each EnCore share held.

Fractional share entitlements were rounded down in accordance with the terms of the distribution. As a result, EnCore retained 17,554 unrestricted Verdera shares, 5,889 Verdera shares restricted until Nov. 20, 2026, and 5,889 Verdera shares restricted until Feb. 20, 2027.

With the distribution complete, EnCore shareholders now hold a direct interest in Verdera and its portfolio of in situ recovery uranium assets in New Mexico.

"Completing this distribution is an important milestone for Verdera," said Janet Lee-Sheriff, chief executive officer of Verdera. "We are pleased to welcome EnCore's shareholders to the Verdera register. With a broader shareholder base and a clear focus on advancing our ISR uranium assets in New Mexico, we look forward to building value for all of our shareholders, including our largest shareholder, EnCore Energy, as the United States works to strengthen its domestic uranium supply."

About Verdera Energy Corp.

Verdera is focused on the development of in situ recovery uranium assets in New Mexico. Led by a team with extensive experience in the uranium and natural resource sector, Verdera is working to meet the growing demand for clean, reliable domestic uranium in the United States. Verdera holds private mineral rights spanning approximately 400 square miles, 88 million pounds of known and historical resources, and a significant proprietary uranium database. New Mexico, with expansive uranium resources, is positioned as a critical district in the U.S. domestic nuclear renaissance, driven by efforts to reduce reliance on foreign imports. Verdera is committed to fostering strong community relations and strives to work closely with local communities.

We seek Safe Harbor.