Mr. Sean Guest reports

VALEURA IMPLEMENTS NEW SHARE BUYBACK PROGRAMME

Valeura Energy Inc. has received Toronto Stock Exchange approval of the company's notice of intention to make a new normal course issuer bid (NCIB). The NCIB will commence on Nov. 20, 2025, and end on Nov. 19, 2026, or such earlier date as Valeura may determine or upon completion of purchases pursuant to the NCIB. Under the NCIB, Valeura may purchase up to 6,298,884 of its common shares, representing approximately 10 per cent of the public float of shares as at Nov. 6, 2025. As at Nov. 6, 2025, there were 105,716,754 shares outstanding.

Valeura's management and board feel the NCIB is an important tool to facilitate offsetting natural dilution and to reduce the total shares outstanding. This reflects the company's belief that the market price of the shares may not reflect Valeura's intrinsic value and future prospects. The company believes the purchase of shares may represent an appropriate use of Valeura's financial resources to enhance shareholder value.

New NCIB

Purchases made pursuant to the NCIB will be made in the open market through the facilities of the TSX and/or through alternative Canadian trading systems and all shares purchased pursuant to the NCIB will be cancelled. The number of shares that can be purchased is subject to a daily maximum, subject to certain exceptions, of 71,382 shares, which is equal to 25 per cent of the average daily trading volume for the shares on TSX for the period May 1, 2025, to Oct. 31, 2025. Valeura will also employ an automatic share purchase plan with a designated broker, which will allow for purchases of shares at predetermined levels at times when Valeura would not otherwise be active in the market due to applicable regulatory restrictions or internal trading blackout periods.

Previous purchases

This new NCIB follows the company's previous normal course issuer bid, which commenced on Nov. 14, 2024, and ended on Nov. 13, 2025. Under the expired NCIB, the company received TSX approval to purchase up to 7,390,245 shares and purchased and cancelled, on the TSX open market and through block purchases, 1,942,504 shares at an average price of $7.1575 per share.

About Valeura Energy Inc.

Valeura Energy is a Canadian public company engaged in the exploration, development and production of petroleum and natural gas in Thailand and in Turkey. The company is pursuing a growth-oriented strategy and intends to reinvest into its producing asset portfolio and to deploy resources toward further organic and inorganic growth in Southeast Asia. Valeura aspires toward value-accretive growth for stakeholders while adhering to high standards of environmental, social and governance responsibility.

We seek Safe Harbor.