Pedro Resources Ltd. — Board/Management Information 2026

May 19, 2026

FORM 51-102F3
MATERIAL CHANGE REPORT

1. Name and Address of Company
   Pedro Resources Ltd.
   5th Floor – 410 West Georgia Street
   Vancouver, British Columbia V6B 1Z3

2. Date of Material Change
   April 23, 2026

3. Material change report
   A press release disclosing the material change was released on May 12, 2026, through the facilities of Newsfile Corp.

4. Summary of Material Change
   On April 23, 2026, Mr. Ely Gordon was appointed as a director of the Company. On April 23, 2026, Mr. Brian Stecyk resigned as a director of the Company.

5. Full Description of Material Change
   On April 23, 2026, Mr. Ely Gordon was appointed as a director of the Company. On April 23, 2026, Mr. Brian Stecyk resigned as a director of the Company.

6. Reliance on subsection 7.1(2) of National Instrument 51-102
   The report is not being filed on a confidential basis.

7. Omitted Information
   No significant facts have been omitted from this Material Change Report.

8. Executive Officer
   For further information, contact Marc Williams, Chief Executive Officer and Director at (901) 891-0268.

9. Date of Report
   This report is dated at Toronto, this 19th day of May, 2026.

Cautionary Statement Regarding Forward-Looking Information

This material change report contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking statements or information. More particularly and without limitation, this material change report contains forward-looking statements and information relating to the Company's search for a new Chief Financial Officer. The forward-looking statements and information are based on certain key expectations and assumptions made by management of the Company. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information since no assurance can be given that they will prove to be correct.

Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward-looking statements and information address future events and conditions, by their very nature they involve

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inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this material change report.

The forward-looking statements and information contained in this material change report are made as of the date hereof and no undertaking is given to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The forward-looking statements or information contained in this material change report are expressly qualified by this cautionary statement.