BLUENERGIES ANNOUNCES CLOSING OF NON-BROKERED PRIVATE PLACEMENT OF UNITS FOR GROSS PROCEEDS OF C$20.7 MILLION

BluEnergies Ltd. (TSXV: BLU) (OTCQX: BLUGF ) (F: 66E) ("BLU" or the "Company") is pleased to announce that, further to its news releases dated July 9, 2026 and July 21, 2026, it has closed its previously announced non-brokered private placement (the "Offering"). The Company issued 9,202,027 units of the Company (each, a "Unit") at a price of C$2.25 per Unit for aggregate gross proceeds of C$20,704,560.75. Each Unit consists of one common share of the Company (each, a "Common Share") and one common share purchase warrant (each, a "Warrant"). Each Warrant entitles the holder to purchase one additional Common Share at an exercise price of C$3.00 for a period of three years from the closing date, expiring July 23, 2029. The Company intends to use the net proceeds from the Offering for the exploration and advancement of the Company's assets and for working capital and general corporate purposes. In connection with the Offering, the Company paid finder's fees to eligible arm's-length parties in accordance with the policies of the TSX Venture Exchange (the "TSXV"), consisting of a cash commission of C$1,005,683.85 equal to 6% of the gross proceeds raised from subscribers introduced by the finder and 446,970 finder's warrants (the "Finder's Warrants") equal to 6% of the securities sold to such subscribers. Each Finder's Warrant is exercisable into one Common Share at a price of C$3.00 until July 23, 2029 and is non- transferrable . All securities issued pursuant to the Offering, including the Common Shares issuable on exercise of the Warrants and the Finder's Warrants, are subject to a statutory hold period of four months and one day from the closing date, expiring November 24, 2026, in accordance with applicable Canadian securities legislation. The Offering remains subject to the final acceptance of the TSXV. Following completion of the Offering, the Company has 82,154,849 Common Shares issued and outstanding. No new Control Person (as defined in the policies of the TSXV) was created as a result of the Offering. No finder's fee was paid and no Finder's Warrants were issued in connection with the portion of the Offering subscribed for by insiders of the Company. Related Party Transaction Disclosure Certain insiders of the Company subscribed for an aggregate of 192,000 Units under the Offering for aggregate gross proceeds of C$432,000, representing approximately 2.1% of the Offering. Participation by insiders in the Offering constitutes a "related party transaction" as defined under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101") and Policy 5.9 of the TSXV. The Company is relying on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of such insider participation, as neither the fair market value of the subject matter of, nor the fair market value of the consideration for, the transaction, insofar as it involves interested parties, exceeds 25% of the Company's market capitalization, in each case as determined in accordance with MI 61-101. The Company did not file a material change report in respect of the related party transaction at least 21 days before the closing of the Offering, as the details of the Offering and the participation of insiders of the Company were not settled until shortly prior to closing, and the Company deemed it reasonable in the circumstances to close the Offering on an expedited basis in order to obtain the proceeds thereof as soon as practicable.