Mr. Abdel Badwi reports

TAG OIL PROVIDES FINANCIAL RESULTS AND OPERATING UPDATES FOR FIRST HALF 2026

TAG Oil Ltd. has filed its financial results for the six-month period ending June 30, 2026. A copy of TAG Oil's financial statements, and management discussion and analysis for the period ending June 30, 2026, are available on SEDAR+ and on the company's website.

On June 30, 2026, the company had $10.4-million in cash and cash equivalents, and $10.3-million in working capital. The company has no debt.

During the three months ending June 30, 2026, both Badr oil field (BED-1) wells produced an average of 66 barrels of oil per day. Crude oil sales delivered from BED-1 for the same period was 53 barrels of oil per day.

Subsequent to June 30, 2026, the company commenced drilling the T-200 well on Aug. 6, 2026. This 4,250-metre vertical well is targeting the Abu Roash F (ARF) formation, a naturally fractured reservoir at this location at BED-1. Drilling and completion operations are schedulled to be completed by Sept. 30, 2026, with well test results available shortly thereafter.

To date, there have been extended delays, beyond TAG Oil's control, of including additional exploration blocks into the Southeast Ras Qattara concession. This has in turn delayed TAG Oil's commitment to resubmit its previously agreed proposal following enactment of a new law amending the concession terms. In the meantime, the company is pursuing other open-acreage opportunities in the Western Desert that are prospective for the unconventional ARF formation. TAG Oil will provide progress updates on both fronts as appropriate.

About TAG Oil Ltd.

TAG Oil is a Canadian-based international oil and gas exploration company with a focus on operations and opportunities in the Middle East and North Africa.

We seek Safe Harbor.