Saturn Oil & Gas Inc. Announces Extension and Increase to Credit Facility

About this update from Saturn Oil & Gas Inc.

Calgary, Alberta--(Newsfile Corp. - July 6, 2026) - Saturn Oil & Gas Inc. (TSX: SOIL) (OTCQX: OILSF) ("Saturn" or the "Company"), a light oil-weighted producer focused on unlocking value through the development of our assets in Saskatchewan and Alberta, is pleased to announce that the Company has entered into a credit agreement amendment dated June 30, 2026 to amend our syndicated credit facility (the "Credit Facility"). The tenor of the Credit Facility has been amended from two years to three years, with the new current maturity date extending to July 31, 2029. Saturn's elected commitment under the Credit Facility increased from $150 million to $200 million, with the Company now having access to a total available borrowing base and commitments of up to $500 million. "As we continue to execute on our strategic blueprint, we are pleased that Saturn's performance, disciplined capital allocation and profitability enhancements have afforded us greater liquidity and financial flexibility to deliver long-term value for shareholders," said John Jeffrey, CEO of Saturn. "Not only have we extended the maturity of our Credit Facility to three years, we will also benefit from a lower cost of borrowing that reflects the Company's greater size and scale, along with our proven track record of developing light-oil weighted assets. We would like to thank our lenders for their continued support and confidence in Saturn."National Bank of Canada Capital Markets is acting as Co-Lead Arranger and Sole Bookrunner for the Credit Facility, with ATB Financial acting as Co-Lead Arranger, along with Goldman Sachs Bank USA as Lender. The Credit Facility is a committed facility subject to a semi-annual borrowing base redetermination on or before June 30th and November 30th of each year, with the next review set to occur June 30th, 2027. The amended and restated Credit Facility agreement will be made available on Saturn's SEDAR+ profile at www.sedarplus.ca.ABOUT SATURN Saturn is a returns-driven Canadian energy company focused on the efficient, responsible and innovative development of high-quality, light oil weighted assets, supported by an acquisition strategy targeting accretive and complementary opportunities. The Company's portfolio of free-cash flowing, low-decline operated assets in Saskatchewan and Alberta provide a deep inventory of long-term economic drilling opportunitie...

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