Orca Energy Group Inc. Announces Discontinuance of Swala Tanzanian Court Proceedings

TORTOLA, British Virgin Islands, Feb. 27, 2026 (GLOBE NEWSWIRE) — Orca Energy Group Inc. (“Orca” or the “Company”) (TSX-V: ORC.A, ORC.B), together with its subsidiaries PAE Pan African Energy Corporation and PanAfrican Energy Tanzania Limited (collectively, the “Orca Group“), announces that it has entered into an agreement with Swala Oil and Gas (Tanzania) plc (in liquidation) (“Swala“) for the discontinuation of Swala’s proceedings against the Orca Group before the High Court of Tanzania in Case No. 11561 of 2025, and the staying of the anti-suit injunction filed by the Orca Group against Swala in the High Court of England and Wales Commercial Court on 24 October 2025. The Orca Group and Swala have agreed to refer any such dispute to a confidential arbitration conducted under the Arbitration Rules of the London Court of International Arbitration, with London as the place and seat of such arbitration.

About Orca Energy Group Inc.

Orca is an international public company engaged in natural gas development and supply in Tanzania through its subsidiary PanAfrican Energy Tanzania Limited. Orca trades on the TSX Venture Exchange under the trading symbols ORC.A and ORC.B.

For further information please contact:

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