Anfield Energy Announces Pricing of US$6.0 million Underwritten Public Offering of Common Shares

Anfield Energy Inc. (“ Anfield ” or the “ Company ”) announces the pricing of an underwritten public offering (the “ Offering ”) of 1,491,305 common shares (the “ Common Shares ”) at a price of US$4.00 per Common Share (the “ Offering Price ”) for aggregate gross proceeds to the Company of US$6.0 million.

The Offering is being conducted through a syndicate of underwriters led by Northland Capital Markets and Roth Capital Partners as joint bookrunners, pursuant to an underwriting agreement dated July 30, 2026, by and among the Company and the underwriters (the “ Underwriting Agreement ”).

In connection with the Offering, the Company has granted the underwriters an option to purchase up to 223,695 additional Common Shares (the “ Over-Allotment Option ”) at the Offering Price. The Over-Allotment Option is exercisable, in whole or in part, for up to 30 days after the date of the Underwriting Agreement.

The Company intends to use the net proceeds from the Offering to fund capital commitments to the Paradox Complex, the Velvet-Wood Project, the Slick Rock Complex, and the Shootaring Canyon Mill, for working capital and general corporate purposes.

Closing of the Offering is expected to occur on or about July 31, 2026, subject to the satisfaction of customary closing conditions, including receipt of required approval of the TSX Venture Exchange (the “ TSXV ”).

In connection with the Offering, the Company filed, with the securities commissions in all of the provinces and territories of Canada, a preliminary prospectus supplement (the “ Prospectus Supplement ”) to the Company’s existing base shelf prospectus (the “ Base Shelf Prospectus ”) filed with the securities commissions in each of the provinces and territories of Canada, and filed a preliminary prospectus supplement in the United States (the “ U.S. Prospectus Supplement ”, together with the Prospectus Supplement, the “ Prospectus Supplements ”) to the Company’s existing base shelf prospectus (the “ U.S. Base Shelf Prospectus ”, together with the Base Shelf Prospectus, the “ Base Shelf Prospectuses ”) forming part of an effective registration statement on Form F-10 (File No. 333-291078) (the “ Registration Statement ”) filed with the U.S. Securities and Exchange Commission (“ SEC ”) under the U.S./Canada Multijurisdictional Disclosure System.

The Offering is being made in the United States and in each of the provinces and territories of Canada, except Quebec.

The Prospectus Supplements, the Base Shelf Prospectuses and the Registration Statement contain important information about the Company and the proposed Offering. Prospective investors should read the Prospectus Supplements, the Base Shelf Prospectuses and the Registration Statement and the documents incorporated by reference therein before making an investment decision.

The Prospectus Supplement (together with the related Base Shelf Prospectus) is available on SEDAR+ at www.sedarplus.ca. The U.S. Prospectus Supplement (together with the U.S. Base Shelf Prospectus, forming part of the Registration Statement) is available on the SEC’s website at www.sec.gov. The final prospectus supplement (together with the related Base Shelf Prospectus) will be available on SEDAR+ at www.sedarplus.ca and the final U.S. prospectus supplement (together with the U.S. Base Shelf Prospectus, forming part of the Registration Statement) will be available on the SEC’s website at www.sec.gov . Alternatively, an electronic or paper copy of the final prospectus supplement (together with the related Base Shelf Prospectus) may be obtained, when available, upon request and without charge by contacting Roth...