Saturn Oil & Gas Inc. Announces Approval of All Resolutions and Voting Results of Annual and Special Shareholder Meeting

Calgary, May 21, 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 the voting results of our Annual and Special Meeting of shareholders (the "Meeting") held on May 21, 2026.

Saturn is pleased to report that all matters presented at the Meeting were approved. A total of 138,348,252 common shares representing 76.2% of the 181,608,038 outstanding common shares ("Common Shares") of the Company were voted at the Meeting.

At the Meeting, the number of directors to be elected to the Board was fixed at eight (8), with 99.78% of votes in favour. All eight director nominees were elected, with the results as follows:

All other matters considered at the Meeting were approved by the shareholders, including the appointment of KPMG LLP as the auditor of the Company (99.99% of votes in favour) and the approval of all unallocated awards under the Corporation's omnibus long-term incentive plan (82.31% of votes in favour).

The full text of each resolution and biography of the director nominees is set forth in the Management Information Circular of the Company dated April 6, 2026, available on Saturn's website or on SEDAR+.

ABOUT SATURN OIL & GAS INC.

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 opportunities across multiple zones. With an unwavering commitment to building an entrepreneurial and safety-focused culture, Saturn's goal is to increase per share reserves, production and cash flow at an attractive return on invested capital. The Company's shares are listed for trading on the TSX under ticker 'SOIL' and on the OTCQX under the ticker 'OILSF'. Further information and our corporate presentation are available on Saturn's website at https://saturnoil.com/.

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