Acerta Energy Ltd. to Acquire Astara Energy Corp., Adding 5,000 boe/d of Oil-Weighted Production and Growing to an Estimated 13,900 boe/d at Close in Alberta's Established Conventional Oil Fairways

Transaction Highlights

• Adds 5,000 boe/d of operated, liquids-rich production, increasing current corporate production by approximately 67% to approximately 12,500 boe/d, rising to an estimated 13,900 boe/d at closing as new wells from Acerta's ongoing drilling program come on stream

• Increases corporate liquids weighting to 60% and oil weighting to 50%, with oil production more than doubling to approximately 6,200 bbl/d

• Acquired reserves are approximately 74% liquids, complementing Acerta's existing Cardium light oil position, and provides synergies across G&A, operations, procurement and marketing as the combined business scales

• Proved reserves of 18.1 MMboe with a net present value of $282.4 million, and proved plus probable reserves of 28.0 MMboe with a net present value of $430.0 million, each discounted at 10% before tax

• Established waterfloods in the Doe Creek and Sunburst pools, including the Valhalla North B Sand flood under injection since 1994, supporting a shallow base decline

• 94% of the acquired assets are operated, giving Acerta direct control of capital allocation, cost structure and pace of development

• Provost Viking adds approximately 250 million barrels of net original oil in place with 2.0% recovered to date, leaving significant primary production and waterflood upside

• Acquisition includes $279 million of tax pools expected to shelter a portion of future taxable income and enhance after-tax free cash flow

• Annualized NOI of ~$70 Million CAD (based on Q2’26)

• Funded through a tap of Acerta’s existing senior secured bond due 2031 and cash on hand, further supported by a working capital financing from Trafigura

CALGARY, AB, [date] – Acerta Energy Ltd. ("Acerta" or the "Company") has agreed to acquire Astara Energy Corp. ("Astara") by way of a plan of arrangement (the "Acquisition"). The Acquisition adds approximately 5,000 boe/d of operated, liquids-rich production, including 3,600 bbl/d of light and medium crude oil, more than doubling Acerta's crude oil production to approximately 6,200 bbl/d and increasing corporate production by 67% to approximately 12,500 boe/d, rising to an estimated 13,900 boe/d at closing as new wells from Acerta's ongoing drilling program come on stream over the coming weeks. Pro forma, Acerta's production is approximately 60% liquids and 50% crude oil.

The Acquisition reflects a total transaction value of approximately $127 million, inclusive of assumed net debt. It has been unanimously approved by the boards of directors of both companies and, concurrent with signing, Astara shareholders approved the Arrangement by written resolution.

The acquired assets are approximately 74% crude oil by reserves and are underpinned by established waterfloods in the Doe Creek pools at Valhalla and Sinclair and in the Sunburst at Countess, including the Valhalla North B Sand flood, which has been under injection since 1994. Secondary recovery supports a shallow base decline and provides recovery factor upside that is realised through injection and optimisation rather than solely through drilling capital.

Acerta Energy Ltd