Mr. Wolf Regener reports

KOLIBRI GLOBAL ENERGY INC. PROVIDES OPERATIONS UPDATE, UPCOMING CONFERENCES AND RENEWS NORMAL COURSE ISSUER BID

Kolibri Global Energy Inc. has provided the following updates.

Operations update

Clifton Mack wells

The company has successfully completed fracture stimulation on all three Clifton Mack wells: the Clifton Mack 11-14-1HR (99.03-per-cent working interest), Clifton Mack 11-14-2HR (97.36-per-cent working interest) and Clifton Mack 11-14-3HR (97.45-per-cent working interest) wells. The team has just finished drilling out the fracture stimulation plugs. Flowback on all three wells will start shortly, and the company expects to report early production rates in a few weeks.

False Caney well

The company finished drilling the lateral of the Lovina 8-5-1HF well (99.9-per-cent working interest) and is anticipating beginning fracture stimulation of the 1.2-mile lateral early in the fourth quarter.

Wolf Regener, chief executive officer and president, commented: "We are excited that the Clifton Mack wells will be coming on line shortly and that we completed drilling the Lovina 8-5-1HF well, which is our first test of the False Caney bench. We expect these wells to add significant production and, in the case of the Lovina well, to begin testing to prove up a new bench, which would lead to additional development locations. The Clifton Mack well locations were probable locations in the company's Dec. 31, 2025, reserve report, so they will be converted to proved reserves in the next reserve report. The Lovina well location, being in a new bench, was not included in the reserve report at all. With oil prices currently around $100 a barrel, the timing of new production from these wells is looking much better than the $70-a-barrel price we anticipated in our June 29, 2026, forecast.

"The cash flow generated will be used to pay down debt, return capital to shareholders, and, if oil prices remain elevated, should also provide us the ability to drill more wells sooner than anticipated. In addition, proving up a new production horizon in the False Caney bench would add additional drilling locations and potential reserves to our December, 2026, reserve report."

Sidoti Small Cap Virtual Investor Conference

Mr. Regener and Gary Johnson, chief financial officer and vice-president, are scheduled to present and host one-on-one meetings with investors live at the Sidoti Small-Cap Virtual Investor Conference. The presentation will be at 1 p.m. Eastern Time on Sept. 24, 2026, which will be followed by an opportunity to ask questions.

Lytham Partners Investor Conference

Mr. Regener is scheduled to participate in a webcast presentation which will take place at 11:45 a.m. Eastern Time on Sept. 29, 2026. In addition, both Mr. Regener and Mr. Johnson will be participating in virtual one-on-one meetings on Sept. 29 and Sept. 30, 2026. The webcast can be accessed by visiting the conference website. The webcast will also be available for replay following the event.

Normal course issuer bid

The board of directors of the company has approved the renewal of its normal course issuer bid to purchase up to an aggregate of 1,797,574 common shares, being approximately 5 per cent of the total number of 35,951,495 shares issued and outstanding as at Sept. 18, 2026, through the facilities of the Nasdaq Capital Market. The actual number of shares that may be purchased pursuant to the bid will be determined by management of the company.

Mr. Regener commented: "Our capital allocation so far this year was focused on bringing the new wells on production and testing the False Caney bench. Once we have paid down our capital expenditures from those wells, we plan to reassess our capital allocation with the potential to return more capital to shareholders via share buybacks."

Under the bid, shares may be repurchased in open-market transactions on Nasdaq or by such other means as may be permitted by Nasdaq and applicable securities laws. The price which the company will pay for any such shares will be the prevailing market price at the time of purchase.

The timing of purchases will be determined by management of the company. Decisions regarding purchases will be based on market conditions, share price, best use of available cash and other factors. All Shares will be purchased for cancellation and the financing for any purchase pursuant to the bid will be financed out of the working capital of the company. The duration of the bid will be one year and will commence on Sept. 28, 2026, and end on Sept. 27, 2027.

The board of directors believes the underlying value of the company may not be reflected in the current market price of its shares. As a result, depending upon future price movements and other factors, the board believes that the shares may represent an attractive investment to the company and their purchase would be in the best interests of the company and its shareholders.

The bid will be commenced pursuant to the exemption available under Section 4.8(3) of National Instrument 62-104, Take-Over Bids and Issuer Bids. In accordance with U.S. securities laws, the maximum number of shares that may be purchased in one day on Nasdaq pursuant to the bid is 25 per cent of the average daily trading volume of the shares on Nasdaq in the four calendar weeks preceding the date of purchase, subject to certain exceptions for block purchases.

Pursuant to the company's prior normal course issuer bid which began on Sept. 23, 2025, and expires on Sept. 22, 2026, as of Sept. 18, 2026, the company has purchased 112,759 shares at a weighted average price of $4.21 (U.S.) per share pursuant to open-market transactions in the United States through the facilities of Nasdaq.

Under the terms of the credit facility between the company's operating subsidiary, Kolibri Energy U.S. Inc., and the lender, Kolibri Energy U.S. may only distribute cash to the company in certain circumstances. Accordingly, the company will only repurchase shares pursuant to the bid using cash which has been distributed to the company by Kolibri Energy U.S. in compliance with the terms of the credit facility.

About Kolibri Global Energy Inc.

Kolibri Global Energy is a North American energy company focused on finding and exploiting energy projects in oil and gas. Through various subsidiaries, the company owns and operates energy properties in the United States. The company continues to utilize its technical and operational expertise to identify and acquire additional projects in oil and gas. The company's shares are traded on the Toronto Stock Exchange under the stock symbol KEI and on Nasdaq under the stock symbol KGEI.

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