Prospex Energy (PXEN) investor relations material

Executive summary

• Achieved a 34% reduction in loss after tax to £180,101 for H1 2025 compared to H1 2024, driven by portfolio expansion and operational improvements.

• Expanded asset base with full acquisition of Tarba Energía S.L., consolidating ownership of El Romeral and Tesorillo, adding significant prospective gas resources.

• Raised £1.2 million gross through equity placing, supporting ongoing investments and operations.

• No reportable health, safety, or environmental incidents across operations in Italy and Spain.

Financial highlights

• Net asset value increased by £938,246 to £25,528,400 as of 30 June 2025.

• Cash and cash equivalents at period end were £147,134, with an additional €1,009,095 held in non-consolidated subsidiaries.

• No interest-bearing or secured debt outstanding.

• Administrative expenses for H1 2025 were £630,804, up from £521,209 in H1 2024.

• Basic loss per share improved to (0.04)p from (0.08)p year-over-year.

Outlook and guidance

• Anticipates stronger performance from Viura and El Romeral as production resumes and new wells are drilled.

• New gas sales agreement at Selva Malvezzi expected to deliver premium pricing linked to the Italian Gas Index.

• Strategic investments in Italy, Spain, and Poland expected to drive long-term value; further financing may be required for growth.