Pine Cliff Energy (PNE) investor relations material

Strategic positioning and capital allocation

• Maintains disciplined capital allocation with a monthly dividend program, returning over $108 million to shareholders since June 2022.

• Significant leverage to Western Canadian natural gas prices, benefiting from LNG Canada Phase 1 reaching full capacity in 2026.

• Reduced long-term debt to $39.3 million as of June 30, 2026.

• High insider and institutional ownership, with AIMCO holding 10% and management/directors holding 4%.

Operational performance and asset base

• Production has grown from 100 to over 20,000 boe/d, with 2Q26 production at 19,747 boe/d (80% natural gas).

• Corporate base production decline is under 10%, well below the industry average, reducing capital needs for sustaining output.

• Holds a quality drilling inventory, including 59 gross Glauconite locations, with 22 net locations booked in 2P reserves.

• Successful Q1 2026 Glauconite well averaged 1,150 boe/d (55% liquids) over 150 days.

Market outlook and growth drivers

• North American and global natural gas demand is rising, driven by LNG exports, power generation, and industrial activity.

• LNG Canada Phase 1 now represents over 10% of Western Canada NGTL system flow, with further export capacity growth expected.

• Western Canadian gas storage has tightened, reflecting incremental demand from LNG ramp-up.

• U.S. and Canadian LNG export capacity is set to exceed 30 Bcf/d by decade's end, with Canadian projects targeting 8.2 Bcf/d by 2034.