Mr. Matthew Klukas reports

CRITERIUM ENERGY PROVIDES SE-MGH GAS DEVELOPMENT AND COMMISSIONING UPDATE

Criterium Energy Ltd. today provided an operational update on the Southeast Mengoepeh (SE-MGH) gas development project.

• Construction and connection of the main 25-kilometre pipeline segments are complete;
• Tie-in to the TRGP is under way with commissioning and testing proceeding accordingly;
• New, updated investor presentation available on the corporate website.

"We continue to make steady progress toward first gas from the SE-MGH development and the anticipated increase in cash flow it will deliver," said Matthew Klukas, president and chief executive officer of Criterium Energy. "The main segments of the pipeline are now connected, and the tie-in to the Teluk Rendah gas plant and cleaning activities are under way. Following first gas, we expect to more than double our current production and generate stable contracted cash flow to support balance sheet improvement and fund our next phase of development and growth."

Upcoming first gas from SE-MGH

Criterium has been advised by its pipeline contractor, PT Olindo, that construction and connection of the main segments of the 25 km pipeline, connecting the SE-MGH field to the Teluk Rendah gas plant (TRGP), are mechanically complete, with select sections already hydrotested. Pipeline cleaning and purging activities have commenced, and finale tie-in to the TRGP is continuing, with commissioning and final inspections expected to commence shortly. Following successful completion of commissioning, the company expects commercial gas deliveries to commence in accordance with the gas sales agreement.

New investor presentation available

Management has posted a new version of the company's investor presentation on the corporate website.

Reminder that Criterium is presenting at upcoming investor conferences

President and CEO Matthew Klukas will present at two investor conferences in October.

Schachter Catch the Energy Conference

Format:  company presentation and booth

Presentation date and time:  Saturday, Oct. 17, 2026, at 11:15 a.m. MT

Location:  Calgary, Alta.

Mr. Klukas will be joined by Mr. Hendra Jaya, Criterium's director and general manager, Indonesia, and Andrew Spitzer, chief financial officer.

Planet MicroCap Toronto 2026

Format:  company presentation and one-on-one meetings

Presentation date and time:  Wednesday, Oct. 28, 2026, at 3 p.m. ET

Location:  Toronto, Ont.

About Criterium Energy Ltd.

Criterium Energy is a Canadian-based upstream energy company focused on the aggregation and sustainable development of assets in Southeast Asia that can deliver scalable growth and cash flow generation. This region is expected to reach a population approaching 800 million people within the next 25 years, driving world-leading economic growth and record-high energy demand. With international operating expertise and a local presence, Criterium intends to contribute responsible, safe and secure sources of energy to help meet this demand. The company is committed to maximizing total shareholder return by executing across three strategic pillars that include (1) fostering a successful and sustainable reputation; (2) leveraging innovation and technology arbitrage; and (3) achieving operational excellence with an unwavering commitment to safety.

We seek Safe Harbor.