Birchcliff Energy (BIR) investor relations material

Financial and operational highlights

• 2026 production guidance is 81,000–84,000 boe/d, with adjusted funds flow of $430 million and free funds flow of $55–$105 million.

• 2025 unaudited results show record production of 80,086 boe/d and adjusted funds flow of $422.8 million.

• Annual base dividend set at $0.12 per share, with a 1.7% yield and total debt projected at $410–$460 million by year-end 2026.

• Market capitalization as of February 2026 is $2.0 billion, with 274.9 million shares outstanding.

Asset base and growth strategy

• Focused on Alberta Montney assets, with core operations at Pouce Coupe and Gordondale, and significant future value in Elmworth.

• Multi-decade drilling inventory in Greater Pouce supports production growth to 87,500 boe/d by Q4 2026 and can be sustained for 22 years.

• Elmworth asset offers growth optionality, with a planned Goodfare Gas Plant and LNG market exposure.

• 2026 capital program includes $325–$375 million in F&D expenditures, with 26–32 wells at Pouce Coupe and 3–5 at Gordondale.

Operational excellence and efficiency

• Continuous improvements in drilling and completion have reduced per-well DCCET costs by 11% since 2024, now ~$6.8 million.

• Capital efficiency improved by 30% since 2023, with optimized well designs and longer laterals.

• Infrastructure optimization has reduced per-unit cash costs by ~$1.15/boe, adding $37 million/year in free funds flow.

• 2025 program achieved a significant increase in condensate-to-gas ratio and year-over-year production performance.