Kolibri Global Energy Inc. Updates Shareholder Information Circular Disclosure

Kolibri Global Energy has updated its information circular regarding a special meeting of shareholders. The company's officers and directors, representing 1.32% of outstanding shares, will vote against a proposed resolution to cap the number of common shares authorized for issue at 37,367,894. The board unanimously recommends voting against the resolution, citing concerns about its negative impact on shareholder value.

Kolibri Global Energy Inc. has updated its information circular regarding a special meeting of shareholders. The company's officers and directors, representing 1.32% of outstanding shares, will vote against a proposed resolution to cap the number of common shares authorized for issue at 37,367,894. The board unanimously recommends voting against the resolution, citing concerns about its negative impact on shareholder value.

The proposed resolution, brought forward by TFG Asset Management UK LLP, aims to limit the company's ability to issue new shares without shareholder approval. Kolibri's board of directors, after careful review, has determined that this move would impede their fiduciary duties and negatively impact the company's strategic growth opportunities. The board also noted that existing regulatory safeguards already protect shareholders effectively, making the proposed resolution unnecessary.

The board's primary concerns include:

1. Impediment to Fiduciary Duties: The share limit would hinder the board's ability to act in the best interests of the company by limiting its flexibility in issuing shares.
2. Market Interpretation: The proposed resolution could be negatively interpreted by the market, potentially reducing strategic growth opportunities.
3. Future Share Issuances: The resolution would materially limit future share issuances without shareholder approval, impacting the company's flexibility and growth.

Kolibri's board urges shareholders to vote against the proposed resolution. The proxy voting deadline is set for 9:00 a.m. Pacific Time on Friday, November 21, 2025. Shareholders are encouraged to read the circular in its entirety and vote their shares as soon as possible.

For further information, shareholders can contact Barbara Fox at 805-484-3613 ext. 231 or bfox@kolibrienergy.com. The special meeting of shareholders is scheduled for 9:00 a.m. Pacific Time on November 25, 2025, at the Hyatt Regency Westlake, 880 South Westlake Blvd, Westlake Village, CA 91361.