Mr. Toby Pierce reports

NEW ZEALAND ENERGY CORP. FILES ANNUAL FINANCIAL STATEMENTS AND ANNOUNCES CEASE TRADE ORDER

Further to New Zealand Energy Corp.'s news releases regarding the issuance of a management cease trade order by the British Columbia Securities Commission in connection with the delay in filing its annual disclosure documents for the year ended Dec. 31, 2025, the company has filed the annual filings.

The annual filings, consisting of the company's audited annual consolidated financial statements for the year ended Dec. 31, 2025, together with the related management discussion and analysis and the chief executive officer and chief financial officer certifications required under National Instrument 52-109, Certification of Disclosure in Issuers' Annual and Interim Filings, were filed under the company's profile on SEDAR+ on June 30, 2026. Concurrently with the annual filings, the company also filed its annual oil and gas disclosure for the year ended Dec. 31, 2025, required under National Instrument 51-101, Standards of Disclosure for Oil and Gas Activities, comprising its statement of reserves data and other oil and gas information (Form 51-101F1), the report on reserves data by the independent qualified reserves evaluator (Form 51-101F2), and the report of management and directors on oil and gas disclosure (Form 51-101F3).

On June 30, 2026, the British Columbia Securities Commission issued a cease trade order under the securities legislation of British Columbia as a result of the delay of the filing of the annual filings. The company expects to file its first quarter financial statements, the related management discussion and analysis, and the related CEO and CFO certifications within five business days of the date hereof. The company intends to seek revocation of the cease trade order and, if required, make an application to the BCSC for such revocation. The company has provided biweekly default status updates in accordance with National Policy 12-203, Management Cease Trade Orders, and, as a result of the filing of the annual filings, does not expect to provide further biweekly updates under NP 12-203.

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 in Taranaki. 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.