East West Petroleum Provides Update on Special Distribution

Core Viewpoint - East West Petroleum Corp. is executing a capital reduction of approximately $2,714,570 and a special distribution of $0.03 per common share to its shareholders [1][2][3] Group 1: Capital Reduction and Special Distribution - The capital reduction will involve re-designating existing common shares as Class A Common Shares and creating a new class of common shares [3] - Each Class A Common Share will be exchanged for one New Common Share and a pro rata share of the distribution, amounting to $0.03 in cash per Class A Common Share [3] - The total reduction in stated capital will be approximately $2,714,570, and Class A Common Shares will be eliminated as a class [3] Group 2: Payment Process - The special distribution will be paid by Computershare Investor Services Inc., with registered shareholders on record by September 15, 2025, receiving their payment around September 19, 2025 [2] - Beneficial shareholders will receive payment through their intermediaries, each following their own payment process [2] Group 3: Trading Procedures - The TSX Venture Exchange has determined that "Due Bill" trading procedures will apply, allowing purchasers of shares during the specified period to receive the distribution instead of the seller [4] - Due Bills will be redeemed on September 22, 2025, after all trades with attached Due Bills have settled [4]