EON Resources (EONR) investor relations material

Executive summary

• Achieved record Q3 2025 net income of $5.62 million, driven by significant one-time gains from asset sales, debt forgiveness, and operational execution.

• Retired all $41 million of senior and seller debt and all preferred shares with a $27 million redemption value, increasing shareholder equity by $22.7 million.

• Closed $45.5 million in funding, including a farmout agreement for San Andres, positioning for future growth and expansion.

• Entered a farmout agreement granting a 65% working interest in San Andres for $5 million, with up to 90 horizontal wells planned over five years starting in 2026.

• Current oil production remains above 1,000 barrels per day from two Permian Basin fields, with ongoing workover and infrastructure projects.

Financial highlights

• Q3 2025 revenues were $4.36 million, with net income of $5.62 million, reflecting gains from asset sales and debt retirement.

• Operating income was a loss of $1.76 million, impacted by $1.1 million in non-recurring G&A costs related to funding.

• Recorded a $13.4 million one-time gain on asset sales and $1.8 million gain from debt forgiveness.

• Interest expense dropped by $500,000 per month following debt reduction.

• Lease operating expenses increased to $2.55 million in Q3 2025, up 19% year-over-year.

Outlook and guidance

• Farmout agreement anticipates drilling up to 90 horizontal wells, with annual programs of 10–20 wells and initial production rates of 300–500 BOPD per well.

• Gross oil production from the program expected to exceed 20,000 BOPD at peak, with estimated NPV-10 for retained interest at $95 million.

• Waterline project in Q4 2025 to add 150 BOPD within 90 days of startup.

• Substantial doubt remains about the ability to continue as a going concern due to a $9.94 million working capital deficit and negative cash flow from operations.

• A material acquisition is anticipated in the first half of 2026.