Calima Energy Limited Proposes Capital Return to Shareholders, Payable on 27 October 2023

Calima Energy Limited is an Australia-based production-focused energy company. The Company is engaged in the exploration and development of oil and natural gas assets in the Western Canadian Sedimentary Basin. The Company is developing oil plays at Brooks and Thorsby in southern and central Alberta, Canada. It also holds an undeveloped Montney acreage position in northeastern British Columbia, Canada. The Company’s assets include Brooks Sunburst & Glauconitic, Thorsby Sparky, and Tommy Lakes Montney. The Company’s Brooks assets consist of a core land position of 69,000 net acres which includes 32,000 acres primarily targeting the Sunburst and Glauconitic formations. The Thorsby asset consists of a core land position of 48,000 net acres primarily targeting the Sparky Formation. The Company owns 100% of 34,000 acres of Montney rights (Calima Lands) in northeast British Columbia (NEBC), as well as the owned-Tommy Lakes Field facilities.