• Preparation and planning continues for Musuma-1 drilling campaign in H2 2026
• Cabora Bassa Petroleum Production Sharing Agreement set to be executed in coming weeks
• Environmental permits extended, enabling ongoing exploration activities

Invictus Energy Ltd provided a quarterly update, highlighting key operational and corporate developments. On the operational front, the company continued preparations for the Musuma-1 exploration well, which is designed to test high-potential structural and stratigraphic targets and has the potential to significantly expand the company's resource footprint. The well is scheduled for drilling in the second half of 2026. Additionally, the Cabora Bassa Petroleum Production Sharing Agreement (PPSA) is set to be executed in the coming weeks following the completion of the mandatory government ratification process. This represents a major regulatory, legal, and commercial milestone for the company. Invictus also reported that the Environmental Impact Assessment (EIA) for its exploration licenses has been renewed until March 2027, enabling the company to undertake ongoing seismic acquisition, drilling, and well testing activities. On the corporate side, the company conducted a successful placement to raise AU$10 million, which will be used to fund pre-drill activities, the Musuma-1 drilling campaign, new venture business development, and general working capital. The company also formally terminated its strategic partnership with Al Mansour Holdings and the associated AMOG joint venture, opening the door to potential new business venture opportunities within the African continent.

Invictus is focused on advancing the Musuma-1 drilling campaign, expected to commence in the second half of 2026, which has the potential to significantly expand the company's resource footprint. The company is also continuing discussions with potential strategic and industry partners to identify new business development opportunities.