Atlantic Petroleum (ATLA DKK) investor relations material

Executive summary

• Completed a major debt restructuring post-period, reducing total debt by at least DKK 90 million and converting part of the convertible loan into equity, with a new major shareholder holding 17.7% of share capital.

• The group’s near-term cash flows depend on royalty income from the Orlando field, which will cease upon decommissioning of the Ninian Central platform.

• The Board will prioritize identifying new investment opportunities in 2026 to replace the declining Orlando production.

Financial highlights

• Q1 2026 revenue was DKK 0; operating loss was DKK 0.4 million, and net loss was DKK 0.4 million, compared to a net loss of DKK 2.3 million in Q1 2025.

• Net assets/shareholders’ equity stood at DKK -116.9 million at 31 March 2026.

• Bank debt was DKK 59.5 million at quarter-end.

• Cash and cash equivalents were DKK 189,000, down from DKK 802,000 at the end of Q1 2025.

• Earnings per share (basic and diluted) were DKK -0.10 for Q1 2026.

Outlook and guidance

• The Board will focus on finalizing the debt restructuring and actively pursue growth through participation in production or near-production assets in low political risk countries in the Northern Hemisphere.

• Long-term viability depends on securing new funding or acquiring new revenue-generating assets as Orlando field production nears its end.