Otto Energy Limited announced that Mr. Steve Herod has resigned as Chief Executive Officer of the Company to pursue other interests and Mr. Phil Trajanovich has been appointed as Acting Chief Executive Officer of the Company effective immediately. Mr. Trajanovich brings over 20 years of Oil and Gas Industry experience to the role and is well versed in Otto's activities having been the Company's Senior Commercial Manager since 2016 and Senior Vice President and Chief Commercial Officer since 2023. Mr. Trajanovich has extensive experience in all facets of upstream oil and gas operations and commercial structures internationally and within the USA.

In addition to Mr. Trajanovich being an excellent replacement for Mr. Steve Herod, filling this vacancy with an internal candidate will accelerate Otto's cost cutting initiative.