Journey Energy (JOY) investor relations material

Executive summary

• Net income for Q2 2026 was $18.5 million, up from $4.1 million in Q2 2025, with EPS of $0.27 basic and $0.26 diluted.

• Sales volumes averaged 10,017 boe/d in Q2 2026, with 51% crude oil, 11% NGLs, and 38% natural gas.

• Four new Duvernay light oil wells were brought on-stream late in Q2, averaging IP30 rates of 1,115 boe/d per well with 84% liquids.

• Disposed of Countess assets (950 boe/d, 100% natural gas) and power facility for $7 million, reducing lower netback volumes.

• Gilby Power Plant began initial power sales to the grid in late June 2026.

Financial highlights

• Sales revenue for Q2 2026 was $63.2 million, up from $45.2 million in Q2 2025.

• Adjusted Funds Flow was $18.4 million, up 16% year-over-year; cash flow from operations was $19.5 million, up 75%.

• Operating netback rose to $30.66/boe from $19.62/boe year-over-year, driven by a 53% increase in realized commodity prices.

• Realized oil prices surged to $117.63/bbl, up 56% from Q2 2025, mainly due to geopolitical events.

• Net debt at quarter-end was $57.8 million, up 14% from the start of the year.

Outlook and guidance

• 2026 capital spending guidance reduced to $94 million (from $100 million); exit sales volumes revised to 11,000–11,500 boe/d (70% liquids).

• Production guidance reflects Countess asset sale; robust Duvernay additions expected to drive future growth.

• Management expects sufficient capital and liquidity to fund the capital program under current pricing assumptions.