Mr. Philip O'Quigley report

FALCON OIL & GAS LTD. - FILING OF INTERIM FINANCIAL STATEMENTS

Falcon Oil & Gas Ltd. has filed its interim financial statements for the three months ended March 31, 2026, and March 31, 2025, and the accompanying management discussion and analysis (MD&A).

The following should be read in conjunction with the complete unaudited unreviewed interim financial statements and the accompanying MD&A for the three months ended March 31, 2026, which are available on SEDAR+ and on Falcon's website.

Q1 2026 financial highlights:

• The definitive agreement entered into between Falcon and Tamboran Resources Corp. is progressing and is expected to close in the second quarter of 2026;
• Continued focus on strict cost management and efficient operation of the portfolio.

All dollar amounts in this document are in U.S. dollars, except as otherwise indicated.

About Falcon Oil & Gas Ltd.

Falcon Oil & Gas is an international oil and gas company engaged in the exploration and development of unconventional oil and gas assets, with the current portfolio focused in Australia, South Africa and Hungary. Falcon Oil & Gas is incorporated in British Columbia, Canada, and headquartered in Dublin, Ireland.

We seek Safe Harbor.