NG Energy International (GASX) investor relations material

Executive summary

• Q3 natural gas and NGL sales reached $18.35M, up 32% YoY; net sales averaged 23,164 Mcf/d, up 15%, and operating netback was $0.32/Mcf.

• 9M net income of $33.60M included a $104.04M Sinú-9 disposition gain; Q3 net loss was $6.67M.

• September 30 cash was $41.67M and net debt was $45.97M, down from $218.37M at December 31, 2025.

Financial highlights

• Q3 natural gas and NGL sales were $18.35M versus $13.90M YoY; 9M sales were $38.69M versus $30.30M, with 9M revenue net of royalties of $30.10M.

• Q3 net loss was $6.67M versus $15.67M in Q2 and $7.12M in Q3 2025; 9M net income was $33.60M versus a $21.01M loss.

• Q3 EBITDAX was a $1.3M loss; 9M operating loss was $2.89M versus operating income of $1.38M in 2025.

• Q3 cash used in operating activities was $0.30M; 9M operating cash use was $31.02M and funds flow used in operations was $33.6M.

• Q3 basic and diluted loss per share were $0.02; 9M basic and diluted EPS were $0.12 and $0.11.

Outlook and guidance

• Up to 10.0 MMcf/d net of new Maria Conchita contracts is expected at prices above $18/Mcf for two years from Dec. 1, 2026; execution is subject to definitive agreements.

• After Aruchara-6 startup, Maria Conchita production is expected to reach 23.0 MMcf/d gross (18.4 MMcf/d net); combined net production across both blocks is expected at ~29.1 MMcf/d.

• Q4 Maria Conchita operating costs per Mcf are expected at or below September 2026 levels; higher volumes are expected to improve fixed-cost absorption.

• Estimated capital commitments total $4.8M: $3.0M in 2026 and $1.8M in 2027.

• A 24-year Maria Conchita Production License application is underway; proposed Sinú-9 seismic and Tiburon program changes remain under ANH review.