Mr. Rich Little reports

ENCORE ENERGY COMPLETES DISTRIBUTION OF VERDERA COMMON SHARES TO ITS SHAREHOLDERS

EnCore Energy Corp. has completed the previously announced distribution of 35 million common shares of Verdera Energy Corp. as a special dividend on Sept. 30, 2026, to EnCore shareholders of record on Sept. 25, 2026.

The distribution of the distribution shares consisted 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, the company 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. Following the distribution, the company holds an aggregate of 15,029,332 Verdera shares.

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 the Verdera distribution delivers on our commitment to put value directly in the hands of EnCore shareholders," said Rich Little, chief executive officer of EnCore. "Verdera now has its own shareholder base and a dedicated team to advance its New Mexico assets while EnCore remains focused on our south Texas operations, South Dakota project and U.S. project pipeline, and retains exposure to Verdera's progress through our shareholding. We congratulate the Verdera team on reaching this milestone and look forward to both companies contributing to a stronger domestic uranium supply for the United States."

About EnCore Energy Corp.

EnCore, America's clean energy company, is committed to providing clean, reliable and affordable uranium to fuel the rapidly expanding U.S. nuclear energy needs. EnCore's team is led by industry experts with extensive knowledge and experience in all aspects of uranium ISR operations and the nuclear fuel cycle. EnCore exclusively uses ISR for uranium extraction, a minimally invasive, ecofriendly and economically competitive mineral extraction technology co-developed by EnCore's leadership.

Building on EnCore's demonstrated and continuing success in south Texas, future projects in EnCore's planned project pipeline include the expansion of Alta Mesa to include the Alta Mesa East property, the Dewey Burdock project in South Dakota and the Gas Hills project in Wyoming. The company holds other assets, including non-core assets and proprietary databases. EnCore is committed to working with local communities and indigenous governments to create positive impacts from corporate projects.

We seek Safe Harbor.