Petrus Resources (PRQ) investor relations material

Executive summary

• Q1 2026 marked by significant oil market volatility and inflationary pressures due to global supply disruptions, particularly from Middle East conflict.

• Disciplined development of high-quality Deep Basin assets in Alberta, with high ownership and control of processing facilities and pipelines.

• Closed the Harmattan acquisition effective February 1, adding a liquids-weighted Cardium asset with strong development upside and ~2,000 boe/d production, financed via equity and term loan.

• Q1 2026 production averaged 10,054 boe/d, up 13% year-over-year, with oil and condensate production up 37% and NGLs up 23%.

• Regular monthly dividend of $0.01/share paid, supporting a 6% yield at $2.02/share, with $2.9 million reinvested via DRIP.

Significant events and developments

• Harmattan acquisition closed and fully integrated, with final regulatory approvals received, expanding Deep Basin footprint and increasing production and reserves.

• Q1 production reflects only partial contribution from Harmattan due to timing of volume recognition.

• Drilled eight new operated Cardium wells in Ferrier; four completed and brought online late March, remainder expected online in Q2.

• Dividend Reinvestment Plan resulted in issuance of 1.6 million new shares.

• Achieved 62% total shareholder return from January 2024 to January 2026, outpacing most peers.

Financial highlights

• Q1 2026 average production: 10,054 boe/d; current production: 11,000 boe/d (60% gas, 40% oil & liquids).

• Oil and natural gas sales reached $27.8 million, up from $23.6 million in Q1 2025.

• Funds flow annualized: $53MM ($0.40/share); Q1 funds flow increased 7% to $13.3 million.

• Net income was a loss of $14.5 million, compared to a loss of $3.1 million in Q1 2025.

• Net debt at March 31, 2026: ~$87.1 million, up from $66.0 million a year earlier, due to acquisition and capital spending.