Mr. Robert Bose reports

TOTALENERGIES' COMPLETES ENTRY AND BECOMES OPERATOR OF PEL 83

Sintana Energy Inc. has noted the completion of the previously announced transaction between TotalEnergies and Galp Energias, under which TotalEnergies has acquired a 40-per-cent operated interest in petroleum exploration licence 83, home to the giant Mopane discoveries in Namibia's Orange basin.

PEL 83 is held by TotalEnergies (40 per cent as operator), Galp (40 per cent), Namcor (10 per cent) and Custos Energy Pty. Ltd. (10 per cent). Sintana maintains an indirect 49-per-cent interest in Custos, providing the company with an effective 4.9-per-cent interest in PEL 83.

The Mopane discoveries have a current 3C resource estimate of approximately 1.3 billion barrels equivalent. As operator, TotalEnergies has indicated it plans to initiate a three-well exploration and appraisal campaign on PEL 83 in 2026. This is in anticipation of a potential final investment decision in relation to a phase 1 development in 2028, targeting first oil production in 2032.

"The completion of TotalEnergies' entry into PEL 83 marks a defining milestone for Mopane, for the joint venture and for Sintana," said Robert Bose, chief executive officer of Sintana Energy. "With one of the world's premier deepwater operators now driving a three-well exploration and appraisal campaign commencing in Q4 2026, the full scope of technical and financial resources has been coalesced to accelerate this asset toward development. For our shareholders, this transaction sharpens the read-through from Mopane's growing resource base to tangible value in our indirect interest. We look forward to the upcoming activity on PEL 83 to further define and illuminate its potential and the progress towards FID. Together with upcoming activity on our additional licences in Namibia and Uruguay, we are positioned across the Atlantic margin for significant progress in the coming quarters," he added.

Sintana remains committed to supporting the responsible development of Namibia's resources for the benefit of its people, including through its indirect interest in Custos, a proudly Namibian company, and to the opportunities this partnership creates for local capacity building and broad-based benefit.

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.

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