Mr. Dan Brown reports

WESTGATE ENERGY ANNOUNCES ANTICIPATED CONVERSION OF CONVERTIBLE DEBENTURE

Art Agolli (the debentureholder), a director of Westgate Energy Inc., has agreed, subject to the approval of the TSX Venture Exchange of the private placement warrant amendment (as described and defined below), to convert the convertible unsecured debentures of the company issued to the debentureholder on March 7, 2025, into common shares at the conversion price of 25 cents.

The company announces that the debentureholder has agreed, subject to TSX-V approval of the private placement warrant amendment, to convert the convertible debentures issued to the debentureholder on March 7, 2025, into common shares. The convertible debentures were issued pursuant to a non-brokered private placement offering of 700 units of the company at a price of $1,000 per private placement unit for gross proceeds of $700,000. Each private placement unit was composed of $1,000 principal amount of convertible debentures and 285 common share purchase warrants of the company. Each private placement warrant entitles the holder to acquire one common share at an exercise price of 27 cents. The convertible debentures will be converted at the conversion price of 25 cents into 2.8 million common shares in accordance with the terms of the convertible debentures. In addition, subject to TSX-V approval, the company expects to satisfy and pay accrued and unpaid interest on the convertible debentures from the date of issuance to Feb. 27, 2026, by issuing an additional 316,971 common shares and by issuing such number of common shares as is equal to the amount of accrued interest owing from Feb. 27, 2026, to the date of conversion divided by the market price on the date of conversion. In completing the share issuances to the debentureholder, the company is relying on the exemptions from the formal valuation and minority approval requirements in Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions) contained in sections 5.5(b) and 5.7(1)(a), respectively.

The company and the debentureholder have agreed, subject to TSX-V approval, to extend the expiry date of the private placement warrants from March 7, 2026, to March 7, 2027. All other terms of the private placement warrants remain unchanged.

About Westgate Energy Inc.

Westgate is focused on the emerging Mannville Stack fairway located in northeastern Alberta and west-central Saskatchewan, a region with established medium and heavy oil accumulations. Producers in this fairway are increasingly unlocking these reservoirs with modern horizontal drilling and completion techniques, which have materially improved well performance and capital efficiency. Activity to date has delivered some of the strongest oil well economics in Western Canada.

We seek Safe Harbor.