FOR IMMEDIATE RELEASE August 1, 2025 – Manila, Philippines – PXP Energy Corporation (“PXP”) is issuing this press release pursuant to the requirements of National Instrument 62-103 The Early Warning System and Related Take-Over Bid and Insider Reporting Issues with respect to FEC Resources Inc. (the "Issuer").

On July 31, 2025, PXP acquired 131,563,725 common shares of the Issuer (the “Common Shares”) by converting its outstanding loan to the Issuer of US$1,011,155.88, plus accrued interest of US$146,604.90, into Common Shares at a price of US$0.0088 per Common Share. The Common Shares acquired represents approximately 13.25% of the issued and outstanding Common Shares. Prior to the acquisition, PXP owned 674,999,986 Common Shares. Following the acquisition, PXP now owns 806,563,711 Common Shares resulting in a 2.86% increase in ownership from 78.39% to 81.25%. PXP’s acquisition of the Common Shares was made for investment purposes. PXP may take such actions in respect of its holdings in the Issuer as it may deem appropriate, depending on market conditions and other relevant factors.

The Common Shares are listed on the OTC Pink under the trading symbol "FECOF”.

For further information or to receive a copy of the early warning report filed by PXP with securities regulatory authorities in Canada in connection with this press release, please contact Mark Rilles at +632 8631-1381.