Desert Mountain Energy Corp. — Capital/Financing Update 2026

Apr 10, 2026

FORM 51-102F3
Material Change Report

ITEM 1. NAME AND ADDRESS OF COMPANY
Desert Mountain Energy Corp. (the "Company")

2500 – 666 Burrard Street

Vancouver, BC V6C 2X8

ITEM 2. DATE OF MATERIAL CHANGE
April 9, 2026

ITEM 3. PRESS RELEASE
The news release was disseminated through Newswire and filed on SEDAR+ on April 9, 2026.

ITEM 4. SUMMARY OF MATERIAL CHANGE
On April 9, 2026, the Company closed a brokered private placement of 6,976,744 units of the Company ("Units") at a price of $0.43 (the "Offering Price") each, for aggregate gross proceeds of $3,000,000 (the "Offering"). The Offering was conducted on a "best efforts" basis by Haywood Securities Inc., acting as lead agent and sole bookrunner for the Offering.

Each Unit consisted of one common share in the capital of the Company (a "Share") and one common share purchase warrant of the Company (a "Warrant"). Each Warrant entitles the holder thereof to acquire one Share for $0.70 at any time up to April 9, 2029.

The private placement financing was offered under the Listed Issuer Financing Exemption (LIFE) in Part 5A of National Instrument 45-106 Prospectus Exemptions and has no hold period. The Company intends to use the net proceeds from the sale of Units to recomplete the gathering pipeline system from the wells in the south of the property to the processing facility and for working capital and general corporate purposes.

ITEM 5 FULL DESCRIPTION OF MATERIAL CHANGE
Please see the Company's news release dated April 9, 2026 which is available at www.sedarplus.ca

ITEM 6. RELIANCE ON SUBSECTION 7.1(2) OF NATIONAL INSTRUMENT 51-102
Not applicable.

ITEM 7. OMITTED INFORMATION
None.

ITEM 8. EXECUTIVE OFFICER
Contact: Don Mosher, President & Director
Telephone: 604-617-5448

ITEM 9. DATE OF REPORT
April 10, 2026