Mr. Dale Miller reports

PRAIRIE PROVIDENT RESOURCES ANNOUNCES SECOND QUARTER 2026 RESULTS

Prairie Provident Resources Inc. has released its financial and operating results for the second quarter of 2026. The company's interim financial statements for the three and six months ended June 30, 2026, and related management discussion and analysis (MD&A) are available on the company's website and filed on SEDAR+.

Q2 2026 review and update:

• Production averaged 2,153 barrels of oil equivalent per day (57 per cent liquids) for Q2 2026 as Prairie Provident has continued to focus spending on well and facility optimization. In the first half of 2026, with no new wells drilled, the capital-efficient optimization work has flattened corporate decline at 2,178 boe/d (59 per cent oil and natural gas liquids).
• Operating expenses were $38.88 per barrel of oil equivalent for Q2 2026, a 30-per-cent increase relative to the $29.86 per boe in Q1 2026 and a 53-per-cent increase relative to the $25.37 per boe in Q2 2025 due to higher workover spending to maintain production in Q2 2026.
• Operating netback for Q2 2026 was $3.9-million ($19.73 per boe), a $400,000 increase from Q1 2026 and a $1-million decrease from Q2 2025. The increase relative to Q1 2026 was as a result of higher realized commodity prices due to the continuing Middle East conflict.
• Net loss of $6.3-million for Q2 2026 was a $200,000 reduction compared with Q2 2025. This decrease was driven by non-cash impairment reversals and lower depletion and depreciation expense in the current quarter.
• At June 30, 2026, the company was in breach of its financial debt covenants as described in the MD&A. in such case, the first-lien loan and the second-lien note lenders have the right to demand immediate repayment of all amounts owed under both facilities. As a result of this breach, the first-lien loan and second-lien note debt is classified as current at June 30, 2026. The company continues to have discussions with its lenders.

About Prairie Provident Resources Inc.

Prairie Provident is a Calgary-based company engaged in the development of oil and natural gas properties in Alberta. The company's strategy is to optimize cash flow from its existing assets to fund low-risk development and maintain stable cash flow while limiting its production decline.

We seek Safe Harbor.