Kistos (KIST) investor relations material

Transaction overview and bond issuance

• Contemplating a USD 300m senior secured bond with a 4-year tenor, secured by assets in Norway, Oman, the Netherlands, and the UK; proceeds to refinance existing debt and for general corporate purposes.

• Bond terms include a minimum liquidity covenant, leverage ratio cap, and first-priority security over key assets, excluding UK gas storage.

• The bond will be listed on Nordic ABM within six months of issuance.

Business profile and asset portfolio

• Operates a diversified portfolio of oil and gas assets across the UK, Norway, Netherlands, and Oman, with a focus on long-life, low-risk production and energy storage.

• Recent acquisition in Oman adds 5% of Block 9 and 20% of Blocks 3 & 4, providing stable, liquids-weighted production and cash flow resilience.

• Key assets include the Balder Area (Norway), Greater Laggan Area (UK), Q10-A (Netherlands), and UK gas storage facilities.

• Pro forma 2P reserves of ~49 mmboe and 2C resources of ~52 mmboe as of end 2025.

Financial performance and projections

• Pro forma production guidance of 19-21 kboepd for 2026, with robust cash flow and cumulative CFADS of ~$330m (2026e-2030e).

• Conservative leverage profile with PF NIBD/EBITDA at 0.8x and significant headroom on cost to crude forward curve.

• Projected strong cash build-up and residual asset coverage at bond maturity estimated at >1.6x the outstanding bond amount.