Reported Earnings • May 15
First quarter 2026 earnings released: US$0.18 loss per share (vs US$0.13 loss in 1Q 2025) First quarter 2026 results: US$0.18 loss per share (further deteriorated from US$0.13 loss in 1Q 2025). Revenue: US$5.10m (down 43% from 1Q 2025). Net loss: US$6.64m (loss widened 57% from 1Q 2025). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 27 percentage points per year, which is a significant difference in performance. New Risk • May 13
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 18% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Negative equity (-US$4.6m). Earnings have declined by 19% per year over the past 5 years. Minor Risk Shareholders have been diluted in the past year (18% increase in shares outstanding). Announcement • May 05
Empire Petroleum Corporation, Annual General Meeting, Jun 17, 2026 Empire Petroleum Corporation, Annual General Meeting, Jun 17, 2026. Location: the woodlands resort,curio collection by hilton, 2301 n., millbend drive, the woodlands, texas 77380, United States