New Risk • Feb 23
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 55% This is considered a major 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 Share price has been highly volatile over the past 3 months (15% average weekly change). Earnings have declined by 9.1% per year over the past 5 years. Shareholders have been substantially diluted in the past year (55% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (UK£2.27m market cap, or US$3.07m). Minor Risk Latest financial reports are more than 6 months old (reported March 2025 fiscal period end). Announcement • Feb 23
Tomco Energy plc Appoints Steven Byle as Non-Executive Director TomCo Energy Plc announced Steven Byle, Valkor's founder and CEO, is shortly intended to be appointed as a Non-Executive Director to TomCo's Board pending completion of the Company's Nominated Adviser's customary due diligence process. Mr. Byle is a highly accomplished executive and serial entrepreneur with substantial experience of, inter alia, creating and developing innovative companies and technologies and executing international projects in the energy sector. These include being former CTO of Dockwise B.V., which reached over $1bn in debt and equity and achieved over $500m in revenue during his tenure, former CEO of Offshore Kinematics Inc. which was sold for $57m and a former director of Core International Group which was sold for approximately $20m. He has lived and worked extensively overseas, speaking Chinese amd Spanish fluently, and currently resides primarily in Utah, United States. He holds a Bachelors degree in Engineering, summa cum laude, from the University of Michigan and a Doctor of Jurisprudence with honors in Intellectual Property Law from the University of Texas. He was awarded the 2011 Alumni Achievement Award in Engineering from the University of Michigan and the 2018 Rosenblatt-Michigan Award and has sat on an advisory board for the Michigan Engineering School. As well as currently acting as CEO of Valkor, a diverse energy services company, he is currently also a director of, interalia, Highlands Development Group LLC and Heavy Sweet Oil LLC and is a former director and/or owner of a number of other public and private companies. New Risk • Jan 11
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended March 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (15% average weekly change). Earnings have declined by 9.1% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (UK£2.93m market cap, or US$3.93m). Minor Risk Latest financial reports are more than 6 months old (reported March 2025 fiscal period end). 
