Presidio (FTW) Registration filing summary

Company overview and business model

• Independent energy company focused on oil and gas exploration and production in the Western Anadarko Basin (Texas, Oklahoma, Kansas), emphasizing acquisition and optimization of existing producing assets.

• Business model centers on acquiring long-lived, stable assets, optimizing operations through technology and engineering, and generating stable, hedged cash flows.

• As of March 31, 2026, operated approximately 2,158 net wells with average net daily production of 22.2 MBoe/d for the successor period.

• Corporate structure is an Up-C, with a public holding company and subsidiaries holding equity interests in Prometheus Holdings, which owns PIH and EQVR.

Financial performance and metrics

• For the three months ended March 31, 2026, pro forma combined revenues were $55.5 million; net loss attributable to common shareholders was $45.4 million.

• For the year ended December 31, 2025, pro forma combined revenues were $200.2 million; net loss attributable to common shareholders was $31.0 million.

• Adjusted EBITDA for the three months ended March 31, 2026 was $2.6 million; for the year ended December 31, 2025, $54.1 million.

• As of March 31, 2026, cash and cash equivalents were $20.7 million, with $305.2 million in total debt (including ABS II Notes, Citizens RBL, and Trail Dust Loan).

• Proved reserves as of December 31, 2025: 89.9 MMBoe, with a PV-10 of $514.1 million.

Use of proceeds and capital allocation

• No proceeds will be received from the sale of shares by selling stockholders; all proceeds go to selling stockholders.

• Capital allocation focuses on debt reduction, dividends, and future acquisitions, with a disciplined approach to cost control and reinvestment in operations.

• Recent capital expenditures include $0.7 million for development in Q1 2026 and $3.4 million for 2025.