Mr. Angel Roa reports

LNG ENERGY GROUP CORP. EXTENDS THE BINDING EXCLUSIVITY AGREEMENT AND LETTER OF INTENT TO ESTABLISH A US$200 MILLION STRATEGIC JV TO FUND OIL AND GAS INVESTMENTS IN VENEZUELA

Further to LNG Energy Group Corp.'s news release dated May 26, 2026, it has reached an agreement with Fifth Ocean Management LP, in partnership with Westlawn Group, to extend the term of the binding exclusivity agreement and letter of intent (LOI) to Nov. 30, 2026, while the parties finalize due diligence, seek to satisfy all conditions precedent and negotiate in good faith definitive transaction documentation.

Under the terms of the previously announced proposed joint venture, the parties will establish a new joint venture company (the JV company) organized in the United States to invest in oil and gas exploration and development projects in Venezuela. The JV company will be owned 50/50 between the company and Fifth Ocean, the company will contribute existing oil and gas assets in Venezuela, and Fifth Ocean will finance an investment program of up to $200-million (U.S.) to increase production and potential acquisition of additional assets in Venezuela.

The transaction is subject to the completion of due diligence and certain conditions precedent including the negotiation and entry into the mutually acceptable definitive documentation within the binding exclusivity period. Closing of the transaction is subject to customary conditions precedent, required regulatory approvals (including applicable Office of Foreign Assets Control (OFAC), Ontario Securities Commission and TSX Venture Exchange) and customary contractual approvals.

The JV company will also partner with Salamander Solutions Inc. on a pilot program to deploy Salamander's advanced heating technology in Venezuela. The technology partnership between the JV company and Salamander will be leveraged to evaluate and unlock prospective heavy oil resources in the assets of the JV company.

About LNG Energy Group Corp.

The company focuses on the acquisition and development of hydrocarbons production and exploration assets in Latin America.

We seek Safe Harbor.