Arrow Exploration Corp. (AIM: AXL) (TSX-V: AXL), the high-growth operator with a portfolio of assets across key Colombian and Canadian hydrocarbon basins, announces the exercise of stock options by certain Directors and Persons Discharging Managerial Responsibilities.

Stock Options Exercise

On September 28, 2026 the Company accepted exercising notices from holders who elected to use a “cashless” exercise of options. Using this method, which is permissible under the terms of the Company’s share option plan, as approved by a resolution of shareholders on September 18, 2026, the Company pays the option holder the value of the option (volume weighted average trading price less strike price) from cash reserves. Accordingly, no new shares were issued in connection with the option exercise.

A summary of the options exercised is as follows:

For further Information, contact:

About Arrow Exploration Corp.

Arrow Exploration Corp. (operating in Colombia via a branches of its 100% owned subsidiary Arrow Exploration Switzerland GmbH) is a publicly traded company with a portfolio of premier Colombian oil assets that are underexploited, under-explored and offer high potential growth. The Company’s business plan is to expand oil production from some of Colombia’s most active basins, including the Llanos, Middle Magdalena Valley (MMV) and Putumayo Basin. The asset base is predominantly operated with high working interests, and the Brent-linked light oil pricing exposure combines with low royalties to yield attractive potential operating margins. Pursuant to certain private agreements entered between Arrow and its partner, Arrow is entitled to receive 50% of the production from the Tapir block and has the right to request approval to Ecopetrol S.A. for the assignment of 50% of all rights, interests and obligations under the Tapir Association Contract. Arrow is listed on the AIM market of the London Stock Exchange and on TSX Venture Exchange under the symbol “AXL”.