Mr. Gil Holzman reports

ECO (ATLANTIC) OIL AND GAS LTD. ANNOUNCES NAVITAS SIGNS FARM-IN FOR NORTH FALKLANDS LICENCE

Further to Eco (Atlantic) Oil & Gas Ltd.'s announcement on Jan. 12, 2026, Navitas Petroleum LP, with whom Eco has signed a framework agreement related to several assets, has today confirmed that it has signed a definitive farm-in agreement with JHI Associates Inc., in which Eco has a 6.6-per-cent interest. Under the farm-in agreement Navitas is to acquire a 65-per-cent working interest in the PL001 North Falkland's basin licence (PL001).

PL001 is adjacent to the Navitas operated Sea Lion Development and covers 1,126 square kilometres in circa 500-metre water depth and contains significant exploration potential, with JHI's best estimate of 3.1 billion barrels across multiple prospects and leads, including multiple Lower Cretaceous prospects analogous to the Sea Lion field.

Gil Holzman, president and chief executive officer of Eco Atlantic, commented:

"Navitas's farm-in to this highly prospective field not only strengthens its presence offshore the Falkland Islands but further deepens our relationship, adding further shared acreage as part of our strategic partnership. Through our holding in JHI, Eco looks forward to working closely with Navitas to further the development of the licence, as we are doing in both Guyana and South Africa."

About Eco (Atlantic) Oil & Gas Ltd.

Eco Atlantic is a TSX Venture Exchange- and Alternative Investment Market-quoted Atlantic Margin-focused oil and gas exploration company with offshore licence interests in Guyana, Namibia and South Africa. Eco aims to deliver material value for its stakeholders through its role in the energy transition to explore for low-carbon-intensity oil and gas in stable emerging markets close to infrastructure.

In offshore Guyana, in the proven Guyana-Suriname basin, the company operates a 100-per-cent working interest in the 1,354-square-kilometre Orinduik Block. In Namibia, the company holds operatorship and an 85-per-cent working interest in three offshore petroleum licences: PELs: 97, 99 and 100, representing a combined area of 22,893 square kilometres in the Walvis basin. In offshore South Africa, Eco holds a 5.25-per-cent working interest in Block 3B/4B and a 75-per-cent operated interest in Block 1 CBK, in the Orange basin, totalling approximately 37,510 square kilometres.