Saba Energy Ltd. Provides Bi-Weekly Default Status Report, Secures Extension on Filing Deadline

July 17, 2026, 2026 — Leads & Copy — Saba Energy Ltd. (TSXV: BGE) is providing its bi-weekly default status report in accordance with National Policy 12-203 – Management Cease Trade Orders (NP 12-203) regarding the Corporation’s temporary management cease trade order (MCTO). The Corporation initially announced its default on May 4, 2026, due to a delay in filing its audited annual financial statements, accompanying management’s discussion and analysis, and related CEO and CFO certifications for the year ended December 31, 2025. The MCTO prohibits the CEO and CFO from trading the Corporation’s securities while filings are outstanding, but it does not affect the general investing public’s ability to trade the Corporation’s common shares.

The Alberta Securities Commission (ASC) has granted Saba Energy an extension to the MCTO until July 31, 2026, and the Corporation anticipates filing its Annual Filings by this new deadline. The Corporation has confirmed that since its initial default announcement, there have been no material changes to the information previously disclosed, no failure to meet alternative information guidelines, and no other specified defaults under NP 12-203. However, concerning material information not yet generally disclosed, Saba Energy has progressed with the receiver of its operating partner for its British Columbia assets. The receiver has agreed to provide the necessary financial information required for the completion of the Annual Filings.

Saba Energy will continue to comply with the alternative information guidelines under NP 12-203 by issuing bi-weekly default status reports in the form of news releases for as long as it remains in default of its filing requirements. The Corporation is a publicly traded entity listed on the TSX Venture Exchange under the symbol “SABA,” with oil and assets in Northeast British Columbia and heavy oil assets in Alberta.

Source: Saba Energy Ltd.