Lycos Energy (LCX) Corporate presentation summary

Strategy and asset base

• Growth plan combines organic discovery and development with disciplined M&A, using multi-lateral drilling, geoscience and enhanced recovery in high-PIIP reservoirs.

• Mannville heavy-oil inventory represents 20+ years of drilling at current inventory levels, with multi-lateral and HVSM well designs; waterflood supports stable base production.

• Long-term targets: production above 10,000 boe/d, leverage of 0.5–1.0x debt to cash flow and break-even below $40 WCS CAD.

• Expansion plans include W4 consolidation, land sales, freehold leasing and farm-ins; identified concepts include OHML and hybrid development targeting 26–40° API oil.

Capital position and outlook

• Share price $1.49; 131.9M basic shares and 141.7M fully diluted shares; market capitalization $196.5M as of November 9, 2026.

• Q3 2026 net debt $37.9M, credit facility $75.0M and estimated tax pools $233.2M.

• Forecast exit production 4,500–5,000 boe/d and capital budget $60–65M.

Greater Provost acquisition

• Acquired assets provide ~1,000 boe/d of base production, 92% heavy oil, supported by early-stage waterflood operations; 2027E production target exceeds 1,500 boe/d.

• Assets include over ~50 MMbbl PIIP, with ~1 MMbbl produced to date and ~2% current recovery; analogous Sparky waterflood assets are expected to reach 20–25% recovery.

• Acquisition is expected to lift exit 2026 production per share and cash flow per share by ~5–10%; low maintenance capital is expected to increase FCF per share more meaningfully.