Saturn Oil & Gas (SOIL) Corporate presentation summary

Investment highlights

• Over 80% of assets are weighted to high-value light oil and liquids, with consistent type curve outperformance and record 2025 production, adjusted funds flow, and free funds flow.

• Discounted valuation with a 50% free funds flow yield at year-end 2025, supported by risk management and a flexible capital program.

• Significant upside potential exists due to a disconnect between market value and $7.75/share 1P net asset value, with improved per share metrics through share buybacks.

Corporate profile and growth

• Achieved a 193% compound annual growth rate in production from Q1 2021 to Q1 2026, reaching 43,700 boe/d.

• Enterprise value is approximately $2.0 billion, with net debt at $724.8 million as of Q1 2026.

• Growth per debt-adjusted share increased by 114% year-over-year.

Value creation strategy

• Follows a repeatable blueprint: acquire mid-life assets, optimize operations, develop reserves, and reduce net debt to enable further acquisitions.

• Four major acquisitions totaling ~$1.4 billion expanded production from 300 boe/d in 2020 to 43,700 boe/d in 2025.