Mr. Elvis Pellumbi reports

SHAMARAN ANNOUNCES FIRST OIL CARGO LIFTING FROM CEYHAN TERMINAL

The first lifting of crude oil export barrels allocated to international oil companies (IOCs) as payment in kind under the interim pipeline export agreements was completed by Shamaran Petroleum Corp.'s nominated trader at the Ceyhan oil terminal in Turkey on Nov. 15, 2025.

Under the interim agreements, Shamaran expects payment for its share of cargo liftings within 30 days. A second lifting of IOC-allocated barrels related to production and pipeline exports during September and October, 2025, is scheduled at the end of this month, with further liftings and payments expected to follow.

Shamaran plans to publish its financial statements for the year ending Dec. 31, 2025, on March 4, 2026.

About Shamaran Petroleum Corp.

Shamaran is a Canadian independent oil and gas company focused on the Kurdistan region of Iraq. The company indirectly holds a 50-per-cent working interest in the Atrush block and an 18-per-cent working interest in the Sarsang block. The company is listed in Toronto on the TSX Venture Exchange and in Stockholm on Nasdaq First North Growth Market (ticker: SNM). Shamaran is part of the Lundin Group of Companies.

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