Questerre Energy (QEC) Corporate presentation summary

Strategic positioning and asset overview

• Produces over 5,200 boe/d, with 3,900 boe/d from oil shale using next-gen technology and 1,300 boe/d from conventional assets.

• Holds multi-billion barrel oil shale resources in the US, Brazil, and Jordan, and a giant gas discovery in Quebec.

• Dual class share structure: preferred shareholders own Quebec assets, common shareholders own all other assets.

• Integrated operations include mining, refining, and production, with a focus on cost efficiency and technology advancement.

Financial and operational performance

• Q1 2026 production averaged 6,180 boe/d, with 72% oil and liquids weighting.

• Adjusted funds flow from operations reached $20.8M, marking a record cash quarter despite a net loss on an IFRS basis.

• Market capitalization at $120M, enterprise value at $230M, and long-term debt at $110M.

• Working capital deficit of $49.6M, with Brazil's deficit ring-fenced and Canada in surplus.

Brazil operations and cash flow protection

• 95% of Brazil fuel oil under take-or-pay contracts, ensuring cash flow even with production curtailments.

• Deferred take-or-pay cash included in AFFO, not revenue, with shortfalls billed and collected.

• Market dynamics shifting due to higher prices and competition from lower-quality products.