Mr. Matthew Klukas reports

CRITERIUM ENERGY ANNOUNCES DIRECTOR APPOINTMENT AND PROVIDES ANNUAL GENERAL MEETING DETAILS

Criterium Energy Ltd. has appointed Ben Arnott to Criterium's board of directors and provided information related to the company's upcoming annual general meeting.

Appointment of Mr. Arnott as non-independent director and strategic adviser

Criterium is pleased to announce the appointment of Mr. Arnott to its board of directors, subject to acceptance of the TSX Venture Exchange. Mr. Arnott is a seasoned energy finance professional with over 25 years of experience raising capital across the energy sector throughout the Asia-Pacific region. He has successfully arranged over $50-billion (U.S.) in credit financings. As the former head of energy for Southeast Asia and Australia at Societe Generale, Mr. Arnott has a record of successfully closing numerous complex corporate and project financings, exhibiting deep expertise in the upstream sector and forging strong relationships with both operators and financial institutions.

Mr. Arnott will join the audit committee, replacing Brian Anderson in that role. Mr. Anderson will continue to serve as the chairman of the board of directors. Mr. Arnott will support the board in overseeing the company's existing debt obligations, as well as future corporate and project financing initiatives.

Mr. Arnott will also take an active role in the company as a strategic adviser and will therefore be a non-independent member of the board. In this capacity, he will work closely with the chief executive officer and management team to advance financing strategies aimed at accelerating development across the company's portfolio, while also supporting the evaluation and execution of potential merger and acquisition opportunities.

"I am thrilled to welcome Ben to our board and as a strategic adviser to our management team," said Matthew Klukas, president and CEO of Criterium Energy. "His proven track record of structuring and delivering financing solutions across the Southeast Asian energy sector will be instrumental as we scale production, strengthen our capital structure and continue to position Criterium as a trusted energy provider in the region."

Mr. Arnott holds a degree in geology from Imperial College London and a postgraduate diploma from Aston University.

Notice of annual general meeting

The 2026 annual general shareholders meeting (AGM) will be held at the Bow Valley Square Conference Center (Angus and Northcote rooms) (third floor), 205 5th Ave. SW, Calgary, Alta., T2P 2V7, on June 16, 2026, at 9 a.m. MDT. An information circular, which includes notice of the AGM, and the company's annual information form, is also available on SEDAR+ and on Criterium's website.

The board recognizes the importance of the AGM and affirms the company's commitment to ensuring that shareholders can vote and engage during the meeting. Shareholders who are unable to attend the AGM may submit questions related to the business of the meeting in advance by e-mail to info@criteriumenergy.com; please include 2026 AGM in the subject line. Insofar as is relevant to the business of the meeting, questions will be responded to by e-mail and considered as appropriate in the meeting itself.

We seek Safe Harbor.