Epsilon Energy (EPSN) Corporate presentation summary

Strategic transformation and growth outlook

• Transitioned from a single-basin, non-operated model to a diversified, multi-basin platform with operated control and deep inventory across three basins.

• Growth inflection expected in the second half of 2026, with momentum carrying into 2027 and beyond.

• Targeting over 20% annual production CAGR from 2026 to 2028 while maintaining leverage below 1.5x.

• Near-term catalysts include ramped operated activity in the Powder River Basin (PRB), scaled operator ramp in the Permian, and increased Marcellus midstream throughput.

Asset portfolio and operational highlights

• Holds 47,100 net acres and 216 net development locations, with 115 priority locations averaging 45% IRR at $70 WTI/$3.50 HH.

• PRB: 37,800 net acres (75% HBP), 1,868 BOE/d NRI production, and 70.1 MMboe net reserves; 101 net priority locations across multiple formations.

• Permian: 4,100 net acres, 573 BOE/d NRI production, 2.57 MMboe net reserves, and 30 estimated additional gross undeveloped Barnett locations.

• Marcellus: 5,100 net acres, 21.7 MMcf/d NRI production, 218.2 Bcf net reserves, and 31 gross undeveloped locations; 35% interest in Auburn Gas Gathering System.

Capital allocation and development plans

• Q3 2026 production guidance: 35.6–38.2 MMcfe/d; FY 2026: 37.6–39.1 MMcfe/d, with oil comprising up to 27% sequential growth.

• FY 2026 capital program: $42–47 million, focused on PRB Parkman wells, Permian Barnett wells, and Marcellus completions.

• Pad developments in PRB and Permian expected to deliver strong OCF and high oil cuts, with over $100 million net investment potential in Parkman inventory.

• Marcellus midstream expansion under review, with significant upside to earnings from incremental throughput.