Mr. Doug Bartole reports

INPLAY RECEIVES TSX APPROVAL FOR NORMAL COURSE ISSUER BID

The Toronto Stock Exchange has accepted InPlay's notice of intention to make a normal course issuer bid (NCIB).

Under the NCIB, InPlay may purchase for cancellation, from time to time, as InPlay considers advisable, up to a maximum of 1,793,976 common shares, which represent 10 per cent of the company's public float of 17,939,761 common shares as at May 14, 2026. As of the same date, InPlay had 28,006,416 common shares issued and outstanding. Purchases of common shares may be made on the open market through the facilities of the TSX and through other alternative Canadian trading systems at the prevailing market price at the time of such transaction. The actual number of common shares that may be purchased for cancellation and the timing of any such purchases will be determined by InPlay, subject to a maximum daily purchase limitation of 23,004 common shares, which equate to 25 per cent of InPlay's average daily trading volume on the TSX of 92,017 common shares for the six months ended April 30, 2026. InPlay may make one block purchase per calendar week that exceeds the daily repurchase restrictions. Any common shares that are purchased by InPlay under the NCIB will be cancelled.

InPlay has entered into an automatic share purchase plan (ASPP) with a broker to facilitate repurchases of the common shares. Under the corporation's ASPP, the broker may repurchase common shares under the NCIB during the corporation's self-imposed blackout periods. Purchases will be made by the broker based upon the parameters prescribed by the TSX and applicable securities laws as well as the terms of the ASPP and the parties' written agreement. Outside of these blackout periods, common shares may be purchased under the NCIB in accordance with management's discretion.

The NCIB will commence on May 25, 2026, and will terminate on May 24, 2027, or such earlier time as the NCIB is completed or terminated at the option of InPlay. InPlay's free cash flow has increased significantly in the current crude oil pricing environment. The company believes renewing the NCIB is a prudent step in a volatile energy market, particularly during periods when the prevailing market price does not reflect the underlying intrinsic value of its common shares. The repurchase and cancellation of common shares demonstrate management's confidence in the company's long-term prospects and the sustainability of its business model. By reducing the share count, the NCIB enhances per-share metrics for shareholders and provides management with an additional tool within its disciplined capital allocation and shareholder return strategy.

About InPlay Oil Corp.

InPlay Oil is a junior oil and gas exploration and production company with operations in Alberta focused on light oil production. The company operates long-lived, low-decline properties with drilling development and enhanced oil recovery potential as well as undeveloped lands with exploration possibilities. The common shares trade on the Toronto Stock Exchange under the symbol IPO, the Tel-Aviv Stock Exchange under the symbol IPO and the OTCQX under the symbol IPOOF.

We seek Safe Harbor.