Ms. Franziska Von Fischer, a securityholder, reports

EARLY WARNING REPORT

Franziska Von Fischer (the securityholder) has filed an early warning report dated Sept. 24, 2026, advising of the acquisition of 38,996,000 common shares of Pepcap Resources Inc. on Sept. 17, 2026, representing approximately 46.53 per cent of the current outstanding common shares at a price of one cent per common share. The securityholder has filed this report as a result of an increase in holdings over which the securityholder has direction and control to 38,996,000 common shares, representing 46.53 per cent of the 83,813,229 postclosing issued and outstanding shares of the company.

The securityholder holds the shares of the company for investment purposes and may, from time to time, acquire additional shares of the company either on the open market or through private acquisitions or sell shares of the company either on the open market or through private dispositions. This news release is being issued under the early warning provisions of Canadian provincial securities legislation.

For further information, please review a copy of the report filed under the profile of Pepcap Resources on SEDAR+.