Mr. Edwin Tam reports

PETROX RESOURCES CORP. ANNOUNCES CLOSING OF ASSIGNMENT OF POWER GENERATION DEVELOPMENT AND COOPERATION AGREEMENT

Further to the news release of Aug. 28, 2026, Petrox Resources Corp. has closed the assignment, novation and assumption agreement dated Aug. 27, 2026, with certain arm's-length unrelated parties, PCC Digital ULC and Bennu Holdings LLC, pursuant to which Petrox has acquired all of the assignors' rights, interests and obligations under the power generation development and co-operation agreement made effective July 16, 2026, among the assignors, PCC and Bennu.

In connection with closing, the company has issued:

• An aggregate of three million common shares to the assignors at a deemed price of 19 cents per share;
• One million common shares to PCC at a deemed price of 19 cents per share;
• One million common share purchase warrants to Bennu, each exercisable to acquire one common share of the company at an exercise price of 19 cents for a period of two years from the date of issuance; and
• One hundred thousand common shares to an arm's-length finder at a deemed price of 19 cents per share.

The transaction has been accepted by the TSX Venture Exchange. All securities issued are subject to a statutory hold period expiring four months and one day from the date of issuance. Following closing, the company has 17,613,231 common shares issued and outstanding.