Kelt Exploration (KEL) Corporate presentation summary

Strategic focus and value creation

• Emphasizes long-term shareholder value through low-cost land accumulation in resource plays with high return potential and rapid drilling inventory growth.

• Management and board have significant equity ownership, aligning interests with shareholders.

• Proven track record of value creation via timely asset monetizations, including major sales in 2013, 2017, and 2020.

• Holds 359,000 acres of Montney and 93,000 acres of Charlie Lake rights, supporting a large, focused resource base.

• Achieved a 1.7x recycle ratio on a proved plus probable reserve basis since inception.

Capital structure and insider alignment

• Market capitalization of $1.8 billion with 199.8 million common shares issued and a 52-week trading range of $4.90–$9.10.

• Directors and officers own 18% of shares (20% on a diluted basis), demonstrating strong insider commitment.

• Insiders have invested $149.9 million in equity and hold 37 million shares, excluding options and awards.

Operational overview and assets

• Operations span Montney (liquids-rich gas, light oil), Doig, Charlie Lake (light oil), and Cretaceous gas across Alberta and British Columbia.

• Extensive infrastructure and firm service agreements for gas processing at multiple third-party and owned facilities.

• Drilling inventory includes 854 future locations in Wembley Montney, 576 in Oak Montney, and 46 in Charlie Lake (Spirit River/Progress).