Pine Cliff Energy (PNE) investor relations material

Strategic positioning and capital allocation

• Focus on long-life, low-decline natural gas and oil assets in Western Canada, with production exceeding 20,000 boe/d and a corporate decline rate of -10% in 2025.

• Maintains disciplined capital allocation, returning over $107 million in dividends since June 2022 and consistently reducing long-term debt to $39.3 million by June 2026.

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

• Active acquisition strategy, completing multiple significant transactions since 2012, including a $100 million Caroline area acquisition in 2023.

Operational highlights and drilling inventory

• Identified 59 gross Glauconite drilling locations, with 22 net locations booked in 2P reserves; next 100% Glauconite well expected online in Q4 2026.

• Q1 2026 Glauconite well in Caroline area averaged 1,150 boe/d (55% liquids) over 60 days.

• Attractive liquids-rich gas and light oil drilling inventory in Glauconite, Ellerslie, and Pekisko formations.

Financial performance and leverage to gas prices

• Market capitalization of $186.6 million as of August 2026, with 358.8 million shares issued.

• Significant free cash flow upside with high sensitivity to AECO gas prices; a $0.10/mcf move in realized price changes AFFO by ~$3.1 million.

• 41% of 2026 natural gas production hedged at $3.16/mcf to protect near-term cash flow.