Kolibri Global Energy (KEI) Sidoti Micro-Cap Virtual Investor Conference summary

Strategic and operational highlights

• Proved reserves grew by 24% in 2024, driven by drilling in probable and possible locations, with a focus on proved areas in 2025.

• Production mix shifted to 75% oil by November 2025, with a liquids-rich basis nearing 90%.

• Adjusted EBITDA rose from $6.5M in 2021 to $44M in 2024, maintaining strength despite lower oil prices.

• Debt reduction and share buybacks prioritized, with debt expected to fall below a 1x EBITDA ratio by end of Q1 2026.

• Drilling efficiencies improved, reducing well costs and drilling times significantly by end of 2024.

Asset base and development plans

• 40 million barrels of proved reserves and 53 million barrels of proved probable, with 104 booked locations as of end 2024.

• Acreage expanded to 17,000, with 99% held by production, and 45 wells on production.

• Focus on McKinney formation, with plans to drill more McKinney wells and a first Sycamore test well in 2025.

• Infrastructure in place, with low gathering and transportation costs, and consistent oil price differentials.

• Upside potential from Sycamore and T-zone formations, with Sycamore test well planned.

Financial discipline and market positioning

• Drilling funded primarily through cash flow, with line of credit used for working capital.

• Maintenance capital approach in 2025 to keep production flat and generate excess cash flow.

• Flexibility to adjust drilling pace based on oil price volatility, with no long-term drilling contracts.

• Operating expenses among the lowest in peer group, supporting strong netbacks even at lower oil prices.

• Management and board bring extensive industry and financial expertise.