SABA closes non-brokered private placement

Calgary, Alberta, July 30 , 2026 – TheNewswire – Saba Energy Ltd. (“ Saba ” or the “ Company ”) ( TSXV: SABA ) Calgary Alberta, is pleased to announce the closing of its non-brokered private placement offering with the issuance of 4,000,000 units (the “ Units ”) of the Company at a price of $0.05 per Unit for aggregate proceeds of $200,000, subject to requisite regulatory approvals including those of the TSX Venture Exchange. Each Unit consists of one common share in the share capital of the Corporation (the “ Common Shares ”) and one common share purchase warrant (the “ Warrants ”). Each Warrant will entitle the holder to purchase one additional Common Share at an exercise price of $0.075 for a period of two years from the date of issuance of the Warrant ( the “ Offering ”).

The Warrants are subject to an acceleration clause such that if the volume weighted average trading price of the Common Shares on the TSX Venture Exchange is at least $0.20 per Common Share for a period of 15 consecutive trading days, the expiry date of the Warrants may be accelerated by the Corporation to a date that is not less than 15 days after the date that notice of such acceleration is provided to the Warrant holders by way of a press release. The Corporation paid no finders fees in respect of the Offering and no new Control Person (as defined by the TSX Venture Exchange Policies) was created as part of the Offering. Common Shares and Warrants issued pursuant to the Offering are subject to a hold period expiring four months and one day following their respective date of issue.

Net proceeds of the Offering will be used for general working capital. About Saba Energy Ltd. The Company is a publicly traded entity listed on the TSXV under the symbol “SABA” with oil and natural gas assets in Northeastern British Columbia and Alberta. For Further Information Saba Energy Ltd. Mohammad Fazil President, Chief Executive Officer, Corporate Secretary and Director Email: mfazil@sabaenergy.ca Phone Number: +1 (403) 613-7310 Cautionary Note Regarding Forward-Looking Statements This press release contains statements that constitute “forward-looking statements” relating to the Offering and the use of proceeds thereof from the Offering for the Company.

Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Although the Company believes, in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information.