InPlay Oil (IPO) Corporate presentation summary

Strategy and asset base

• Strategy centers on disciplined, FCF-accretive M&A, high-return organic growth and conservative leverage; long-term net debt/EBITDA target 0.75x.

• Preliminary 2027 production midpoint is 20,550 boe/d, with 64% liquids; guidance range is 20,100–21,000 boe/d and 64%–65% liquids.

• Pembina Cardium production is ~15,200 boe/d at 63% liquids; Belly River contributes ~2,000 boe/d at 85% liquids.

• More than 15,000 boe/d, or ~75% of production, has a 13% decline rate; overall PDP decline rate is 22%.

Operating performance and acquisitions

• Q3 2026 production was 19,254 boe/d, 62% liquids; oil production of 9,565 bbl/d rose 5% YoY.

• Q3 operating income was $61.7M, up 78% YoY; operating netback was $34.85/boe, up 75% YoY.

• Q3 AFF reached a record $51.4M, up 92% YoY; FAFF was $29.0M.

• Belly River acquisition closed August 21, 2026 for $54.4M, adding 1,400 boe/d at closing, 85% light oil and NGLs, and 50 net drilling locations.

• Belly River is forecast to add ~$2.5M in operating, G&A and capital synergies; acquisition metrics show 18% accretion to AFF/share and FAFF/share.

• Pembina acquisition synergies reached ~$22M versus an initial ~$15M estimate; acquired-asset production grew from ~10,000 to 12,000 boe/d.

Guidance and cash flow

• Preliminary 2027 guidance: $212M AFF, $112M FAFF and 22% FAFF yield; $100M capital program and $30M base dividend.

• 2027 plan targets 15% oil production/share growth and 18% AFF/share growth; includes 4–6 Belly River wells and $82M excess FAFF after the base dividend.

• 2026 forecast midpoint is 19,150 boe/d, $181M AFF and $100M FAFF; the capital program was completed under budget with two additional net wells drilled.

• Preliminary 2027 commodity assumptions are WTI US$80/bbl, Edmonton par C$107.70/bbl and AECO $1.90/GJ.