This announcement contains insider information

27 January 2026

88 Energy Limited

SCHRADER BLUFF 3D SEISMIC SURVEY SECURED TO ADVANCE SOUTH PRUDHOE EXPLORATION

88 Energy Limited (ASX: 88E, AIM:88E, OTC:EEENF) (88 Energyor the Company) is pleased to announce that it has secured access to the Schrader Bluff 3D seismic dataset, recently released by the Alaska Department of Natural Resources, Oil and Gas Division.

Securing the Schrader Bluff 3D seismic dataset is directly aligned with the Company's data and infrastructure driven approach to exploration across Alaska's North Slope. The survey provides high quality subsurface coverage across the North-West Hub of the South Prudhoe acreage, adjacent to the largest onshore oilfield in the United States - the Prudhoe Bay Unit - and materially strengthens the technical foundation for future exploration decisions.

Interpretation of the dataset will support the maturation of multiple prospects, inform an internal update to prospective resource estimation and assist in the identification and optimisation of future well locations adjacent to established producing fields and existing infrastructure.

Importance of the Schrader Bluff 3D Seismic Survey

The Schrader Bluff 3D seismic survey provides high-resolution subsurface imaging that is expected to capture additional prospectivity on the North Slope, Alaska. The dataset materially enhances 88 Energy's ability to:

·    Refine structural and stratigraphic interpretation across the South Prudhoe leases, while improving correlation of key horizons and reservoir intervals with regional fields and discoveries to 88E prospects, strengthening confidence in both existing and emerging prospectivity.

·    Advance prospect definitionwithin key Ivishak, Kuparuk, plus the additional Brookian,

intervals, which represent stacked, high-potential reservoirs.

·    De-risk multiple low-to-moderate risk structures identified on 3D datasets already held by 88 Energy and supported by offset well data, including the historical Hemi Springs State-1.

This data is to be incorporated in 88 Energy's internal exploration database and will help optimise and support investment for the drilling program, currently scheduled for Q1 2027. It marks the beginning of an exciting phase of opportunity generation by organic growth and will be closely followed by purchase of the Kad River 3D Survey release in March 2026 which covers the new Kad River East leases secure by 88 Energy in the Fall 2025 North Slope Bid Round (refer to announcement dated 20 November 2025).

88 Energy has been able to leverage the State of Alaska's Tax Credit Seismic 3D program, which makes historic 3D seismic datasets publicly available at a small fraction of their original acquisition cost. This initiative which is unique in scale compared to most global jurisdictions, was established by the State of Alaska to encourage ongoing exploration investment and broader industry access to high‑quality subsurface datasets.

Access to these low‑cost, high‑resolution surveys significantly shortens the usual timeframe between acreage acquisition and prospect maturation, enabling 88E to rapidly correlate key regional wells, legacy discoveries and proven reservoir intervals to newly acquired lease positions.

Upcoming Internal Prospective Resource Update

88 Energy confirms that updated internal prospective resource estimates for the South Prudhoe acreage position are expected to be released in Q1 CY2026. These estimates will follow detailed interpretation of the Schrader Bluff 3D in conjunction with Storms 3D and other licensed datasets.

The updated internal estimates will cover the Ivishak and Kuparuk reservoirs, as well as the shallower Brookian formations, and will build on the Company's strategy to target multi-zone oil and gas exploration upside adjacent to proven producing reservoirs.

This announcement has been authorised by the Board.