Mr. Richard Little reports

PERMEX PETROLEUM ANNOUNCES RECEIPT OF NOTICE OF FORECLOSURE SALE BY SECURED DEBENTURE HOLDERS

On June 15, 2026, Permex Petroleum Corp. received a notice of foreclosure sale from the debentureholders (defined below) pertaining to the company's rights, title and interest in certain oil and gas leases and related property, located in Martin county, Texas. Pursuant to the notice, the foreclosure sale will be held at 10 a.m. on July 7, 2026, at the Martin County Courthouse in Stanton, Martin county, Texas.

As previously disclosed, on Jan. 28, 2026, the company received notice from Jeffrey E. Eberwein, on behalf of himself and as collateral agent for all holders of the secured convertible debentures issued on Nov. 1, 2024, that the company was in default of its obligations under the terms of the debentures by failing to make payments on or before Nov. 2, 2025, and that the debentureholders would seek to enforce their rights and remedies under the debentures. The debentures had an aggregate principal amount of $4,276,389, with interest accruing thereon at 10 per cent per annum, and are secured by the company's assets. On April 13, 2026, counsel to the debentureholders sent a notice of acceleration and demand to the company accelerating all sums due and owing under the debentures and other loan documents and demand immediate payment of all outstanding principal, accrued interest, fees and expenses.