Even at the under expectation numbers, we are on track to reduce debt and build value

1. Production Average Q1 2025 production : 660 boe/d Post-reactivation potential : +249 boe/d from 27 wells Implied capacity : ~900 boe/d (used for forward valuation) 2.

Canderous made no meaningful changes to valuation assumptions.

Canderous made no meaningful changes to valuation assumptions.

Canderous made no meaningful changes to valuation assumptions.

Canderous has decreased revenue growth from 13.6% to 9.0%.