Q3/25 production of 41,142 boe/d exceeded previous guidance, the previous quarter and the same period in 2024

Adjusted funds flow (1) totaled $103 million ($0.54/share (1) ) in Q3/25 with free funds flow (1) of $16 million

Executed an $87 million capital program in the quarter, with a capital shift to core-up acquisition opportunities that offer better economics relative to drilling in the current oil price environment

Net opex (1) was 3% below guidance at $19.24/boe, reflecting continued cost reduction and efficiency capture

Quarterly debt repayments totaled US$16.3 million (C$22.6 million) and over the past five quarters have totaled US$98 million (C$133 million) reducing principal outstanding on our senior notes to US$553 million at quarter end

Calgary, Albe

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