Mr. Bryden Wright reports

Rok RESOURCES ANNOUNCES RESTRUCTURED LONG-TERM INCENTIVE PLAN

Rok Resources Inc. has arranged a revised long-term incentive plan with the introduction of a restricted share unit plan (RSUs or the RSU plan). The RSU plan reflects the company's long-term objectives to: (i) adopt industry best practices to retain/attract talent, and (ii) align officers' and directors' interests with shareholders.

Details of the RSU plan are as follows:

• Minimum company ownership requirements:
  • President and CEO (chief executive officer) to own no less than three times their annual salary of the company;
  • Other officers to own no less than two times their annual salary of the company;
  • Directors to own no less than three times their annual retainer of the company.
• Non-dilutive: RSUs to settle in cash;
• Vesting provisions:
  • For officers, RSUs vest as to one-third immediately with an additional one-third vesting each anniversary of the grant;
  • For directors, RSUs vest only upon resignation or a change of control event.

As part of the restructuring of the long-term incentive plan, all officers and directors have agreed to forfeit their options and will be entering into agreements with respect to same in due course. This will result in 11.91 million options being forfeited by officers and directors, which represents 67 per cent of options currently granted and leaving only 5.76 million options outstanding.

NCIB update

The company continues to move forward with the normal course issuer bid (NCIB) to purchase and cancel up to 10 per cent of the public float of the company's issued and outstanding common shares, as discussed in the company press release dated June 5, 2025. The company considers it an effective use of its financial resources to repurchase its common shares when the market price of the common shares does not fully reflect their underlying value. Shareholders of the company will be advised of the progress of the NCIB in the next quarterly report of the company to be filed on SEDAR+.

Financial update

Subsequent to the unwinding of its crude oil swap hedges which generated proceeds of $6.29-million, as outlined in the company press release dated May 7, 2025, the company continues to maintain a positive working capital balance with no outstanding debt balance. The company currently maintains a $5.0-million revolving demand credit facility with a chartered Canadian bank which is currently unutilized.

About Rok Resources Inc.

Rok is primarily engaged in petroleum and natural gas exploration and development activities in Alberta and Saskatchewan. It has offices located in both Regina, Sask., Canada, and Calgary, Alta., Canada. ROK's common shares are traded on the TSX Venture Exchange under the trading symbol ROK.

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