Mr. Robert Bose reports

CLOSING OF FUNDRAISE

Further to Sintana Energy Inc.'s announcements of May 15, 2026, May 18, 2026, and May 26, 2026, the final condition, being admission, has now been satisfied and, as such, the fundraise has now closed. Pursuant to the fundraise, the company issued an aggregate of 38,001,253 new common shares at 22.5 pence per new common share on the AIM (Alternative Investment Market) and 41 cents per new common share on the TSX Venture Exchange to raise aggregate gross proceeds of $11.5-million (U.S.) (8.6 million British pounds or $15.6-million (Canadian)).

As announced on May 18, 2026, pursuant to the subscription, Robert Bose, the chief executive officer of the company, has subscribed for 826,105 subscription shares through Charlestown Energy Partners LLC (of which Mr. Bose is a managing member) in exchange for an investment of $250,000 (U.S.) and Eytan Uliel, president of the company, has subscribed for 826,105 subscription shares in exchange for an investment of $250,000 (U.S.). Each of Mr. Bose and Mr. Uliel is an insider of the company. Accordingly, the fundraise constitutes a related party transaction under Multilateral Instrument 61-101. The company is relying on the exemption from the formal valuation requirement set out in Section 5.5(a) of MI 61-101 and the exemption from the minority approval requirement set out in Section 5.7(1)(a) of MI 61-101 as neither the fair market value of the subject matter of nor the fair market value of the consideration for the fundraise, insofar as it involves insiders, exceeds 25 per cent of the company's market capitalization. The fundraise remains subject to the final approval of the TSX-V.

The new common shares issued pursuant to the fundraise were issued pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106, and accordingly such securities are not subject to a hold period pursuant to applicable Canadian securities laws. There is an offering document related to this fundraise dated as of May 15, 2026, as amended and restated, that can be accessed under the company's profile SEDAR+ and on Sintana's website.

In connection with the fundraise, the company paid cash finders' fees totalling $900,000 (Canadian).

About Sintana Energy Inc.

Sintana, the Canadian parent company of a group of companies, is focused on the acquisition, exploration, potential development and, ultimately, the monetization of a diverse portfolio of interests in high-impact assets with significant hydrocarbon resource potential in emerging frontier geographies. Specifically, this includes interests in eight licences in two countries, Namibia and Uruguay, as well as pending indirect interests in additional licences in Namibia and Angola (and legacy assets in Colombia and the Bahamas), providing exposure to a range of geologic plays, basins, operators, regulators, jurisdictions and geopolitical regimes.

We seek Safe Harbor.