Mr. Toby Pierce reports

NEW ZEALAND ENERGY CORP. ANNOUNCES PRIVATE PLACEMENT

New Zealand Energy Corp. is proposing an offering up of to 17.5 million common shares of the company at a price of 20 cents per common share for aggregate gross proceeds of up to $3.5-million on a non-brokered basis.

Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 (Prospectus Exemptions), the offering is being made pursuant to Part 5A of NI 45-106, as amended by Coordinated Blanket Order 45-935 (Exemptions from Certain Conditions of the Listed Issuer Financing Exemption), to purchasers who are resident in Canada. The offering may also be made available to purchasers who are resident in certain jurisdictions outside of Canada, including the United States and the United Kingdom, in compliance with applicable securities laws.

There is an offering document related to the offering that can be accessed under the company's profile on SEDAR+ and on the company's website. Prospective investors should read the offering document before making an investment decision.

The company intends to use the net proceeds from the offering to finance the advancement of its gas storage business and for general corporate purposes.

The offering is expected to close on or about Feb. 5, 2026, or on such other date as the company may decide. Completion of the offering is subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including the conditional approval of the TSX Venture Exchange. The company may pay certain advisory fees to arm's-length parties in connection with the offering.

About New Zealand Energy Corp.

New Zealand Energy is a publicly listed energy company focused on the development of oil, gas and gas storage opportunities in New Zealand. The company holds interests in multiple heritage assets and development-stage projects, including the Tariki gas storage project located on New Zealand's North Island in the Taranaki basin. With a 50-per-cent ownership stake in the Waihapa production station, the company can quickly tie in any near-term production and sell directly to market.

We seek Safe Harbor.