BLUE HARBOUR CAPITAL SECURITIES FUND I AND BH HOLDINGS LIMITED ANNOUNCE TRANSFER OF COMMON SHARES OF PETROTAL CORP. TO BH HOLDINGS LIMITED

HONG KONG, April 29, 2026 /CNW/ - Blue Harbour Capital Fund I OFC, acting on behalf of its sub-fund Blue Harbour Capital Securities Fund I (collectively, the "Fund"), and BH Holdings Limited ("BH Holdings") report that, on April 28, 2026, in exchange for the satisfaction in full of the aggregate amount of C$90,090,000 owing by the Fund to BH Holdings, the Fund transferred and assigned 182,000,000 common shares of PetroTal Corp. (the "Shares") to BH Holdings in a private transaction, at a price of approximately C$0.495 per Share (the "Transfer"). Following the Transfer, BH Holdings held approximately 19.93% of PetroTal Corp.'s outstanding Shares, on a non-diluted basis.

Immediately prior to the Transfer, the Fund held 206,047,157 Shares, representing approximately 22.57% of PetroTal Corp.'s outstanding Shares, on a non-diluted basis. Following the Transfer, the Fund continued to hold 24,047,157 Shares, representing approximately 2.63% of PetroTal Corp.'s outstanding Shares, on a non-diluted basis. As a result of the Transfer, the Sub-Fund's ownership interest in PetroTal Corp.'s outstanding Shares, on a non-diluted basis, decreased by approximately 19.93%, and accordingly, the Fund will no longer be subject to the 10.0% threshold requiring disclosure under National Instrument 62-104 – Take-Over Bids and Issuer Bids ("NI 62-104").

Immediately prior to the Transfer, BH Holdings did not hold any Shares. As a result of the Transfer, BH Holdings acquired 182,000,000 Shares, representing approximately 19.93% of PetroTal Corp.'s outstanding Shares, on a non-diluted basis. As a result of the Transfer, BH Holdings is now subject to the 10.0% threshold requiring disclosure under NI 62-104.

Disposition by the Fund of 182,000,000 Shares, and BH Holdings' acquisition of 182,000,000 Shares were done solely for investment purposes. The Fund and BH Holdings may take actions in the future in respect of their securityholdings in PetroTal Corp. based on the then existing facts and circumstances, which actions could include, without limitation, acquisitions or dispositions of Shares by either of them, whether in the open market, by privately negotiated agreement or otherwise.

PetroTal Corp.'s head office is located at 16200 Park Row, Suite 310, Houston, Texas, United States, 77084.

The Fund's head office is located at 18/F, Rykadan One, 23 Wong Chuk Hang Road, Wong Chuk Hang, Hong Kong.

BH Holdings' head office is located at 18/F, Rykadan One, 23 Wong Chuk Hang Road, Wong Chuk Hang, Hong Kong.

This press release is being issued pursuant to NI 62-104, which requires an early warning report to be filed under PetroTal Corp.'s profile on SEDAR+ (www.sedarplus.ca) containing further information respecting the foregoing matters. For a copy of such report or further information, you may contact:

Blue Harbour Capital Fund I OFC
18/F, Rykadan One, 23 Wong Chuk Hang Road, Wong Chuk Hang, Hong Kong
Attention: Miguel C. Soto
Phone: [phone]

BH Holdings Limited
18/F, Rykadan One, 23 Wong Chuk Hang Road, Wong Chuk Hang, Hong Kong
Attention: Miguel C. Soto
Phone: [phone]

SOURCE Blue Harbour Capital Securities Fund I and BH Holdings Limited