9 March 2026

ECO (ATLANTIC) OIL & GAS LTD.

("Eco," "Eco Atlantic," "Company," or together with its subsidiaries, the "Group")

Notice of Annual General Meeting

Eco (Atlantic) Oil & Gas Ltd. (AIM: ECO, TSX ‐ V: EOG),  the oil and gas exploration company focused on the offshore Atlantic Margins, announces that the Annual and Special Meeting of the Company ("AGM") will be held on 27 March 2026 at 10:00 a.m. (EST) at 217 Queen Street West, Suite 401, Toronto, Ontario, M5R 0V2. Copies of the formal notice of AGM and form of proxy will be made available on the Company's website at: https://www.ecooilandgas.com/investors/documents-circulars/

Following the recent corporate and business developments, the Board is taking the opportunity to propose a reduction in its size from nine members to five, to enable a more efficient and streamlined corporate governance and oversight of the Company's activities and to reflect the Company's stage of development.

Accordingly, subject to approval at the forthcoming AGM, the Board will be reduced in number to five directors.  It is intended that Alice Carroll, VP Business Development, and Corporate Affairs and Chief Financial Officer Gadi Levin will step down from the Board and continue in their senior executive roles at the Company, and Mrs. Selma Usiku will retire from the Board but continue to serve on behalf of the Company as Vice Chairman of NAMPOA (Namibia Petroleum Operators Association). Accordingly, the aforementioned Directors have not put themselves forward for re-election at the shareholder meeting.

If the proposed resolutions are approved at the AGM, it is expected that the Board will comprise Keith Hill, Peter Nicol, Alan Friedman, and Emily Ferguson as Non-Executive Directors (one of whom will be elected Non-Executive Chairman), and Gil Holzman as Director, President & Chief Executive Officer. A further announcement will be made at that time.

**ENDS**

For more information, please visit www.ecooilandgas.com or contact the following.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

About Eco Atlantic:

Eco Atlantic is a TSX-V and AIM-quoted Atlantic Margin-focused oil and gas exploration company with offshore license interests in Guyana, Namibia, and South Africa. Eco aims to deliver material value for its stakeholders through its role in the energy transition to explore for low carbon intensity oil and gas in stable emerging markets close to infrastructure.

In Offshore Guyana, in the proven Guyana-Suriname Basin, the Company operates a 100% Working Interest in the 1,354 km² Orinduik Block. In Namibia, the Company holds Operatorship and an 85% Working Interest in three offshore Petroleum Licences: PELs: 97, 99, and 100, representing a combined area of 22,893 km² in the Walvis Basin. In Offshore South Africa, Eco holds a 5.25% Working Interest in Block 3B/4B and a 75% Operated Interest in Block 1 CBK, in the Orange Basin, totalling approximately 37,510km².

Forward-Looking Statements

Certain information set forth in this document contains forward-looking information and statements within the meaning of applicable Canadian securities laws and may constitute forward-looking statements under the securities laws of other jurisdictions including statements relating to the expected composition of the board following the AGM and proposed board changes. Forward-looking statements or information typically contain statements with words such as "anticipate", "believe", "expect", "plan", "intend", "estimate", "propose", "project", "potential" or similar words suggesting future outcomes or statements regarding future performance and outlook. Forward-looking statements are based on certain material assumptions, including, without limitation: the results of the annual shareholder meeting. Readers are cautioned that assumptions used in the preparation of such information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties and other factors, many of which are beyond the control of the Company, including but not limited to: shareholder voting and the results of the annual shareholder meeting. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them as actual results may differ materially from the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include risks and uncertainties identified under the headings "Risk Factors" in the Company's annual information form dated July 29, 2024 and other disclosure documents available on the Company's profile on SEDAR+ at www.sedarplus.ca. The forward-looking statements contained in this press release are made as of the date hereof, and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, except as required by law.

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended by virtue of the Market Abuse (Amendment) (EU Exit) Regulations 2019.