Saba Energy Provides Bi-Weekly Default Status Report

May 14, 2026 — Leads & Copy — Saba Energy Ltd. (TSXV: BGE) has issued a bi-weekly default status report as required by National Policy 12-203 regarding its temporary management cease trade order (MCTO).

The MCTO was put in place 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 “Annual Filings”).

The initial default announcement was made on May 4, 2026.

The Alberta Securities Commission granted the MCTO, which prohibits the CEO and CFO from trading in the Corporation’s securities while filings are outstanding. However, the MCTO does not prevent the general investing public from trading in the Corporation’s listed common shares.

Saba Energy’s board of directors and management are working to complete the Annual Filings and anticipate being able to do so on or before June 14, 2026, though there is no guarantee.

The Corporation confirms that since the Default Notice:

(i) there is no material change to the information set out in the Default Notice that has not been generally disclosed; (ii) there has been no failure by the Corporation in fulfilling its stated intentions with respect to satisfying the provisions of the alternative information guidelines set out in NP 12-203; (iii) there has not been any other specified default by the Corporation under NP 12-203; and (iv) there is no other material information concerning the affairs of the Corporation that has not been generally disclosed.

Saba Energy will continue to issue bi-weekly default status reports in the form of news releases as long as it remains in default of the filing requirements.

Saba Energy Ltd. is publicly traded 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.