Valuation Update With 7 Day Price Move • Jun 24
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to US$2.63, the stock trades at a trailing P/E ratio of 13.4x. Average trailing P/E is 27x in the Renewable Energy industry in the US. Total loss to shareholders of 75% over the past three years. New Risk • Jun 12
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 24% Last year net profit margin: 12,359% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (34% average weekly change). Minor Risk Profit margins are more than 30% lower than last year (24% net profit margin). Announcement • May 23
AleAnna, Inc. Announces Receipt of Large D&M Prospective Resource Report and Significant Expansion of Its 5-Year Development Plan AleAnna, Inc. announced following recent press releases on the receipt of a Production Concession for the Gradizza field, and receipt of an updated Reserves report containing a 47% increase to 1P reserves, AleAnna announced its intent to progress a wholly-organic growth and value-creation plan designed to provide sustained, year-after-year production growth, from initial production at Gradizza through broader portfolio development and projected earnings growth. The plan is underpinned by a strong Prospective Resource assessment from D&M, which contains a high-quality, risk-reduced portfolio of drilling locations well-advanced through the regulatory approval process in Italy, and supported by 2D and 3D seismic previously acquired and interpreted by AleAnna technical experts. Further, the plan is carefully designed to maximize synergies between individual prospects, sharing multi-well pads and production facilities wherever possible. Capital allocation priorities and a scalable operating model have been employed, and free cash flow is used where possible to minimize the requirement for debt and future equity fund-raising. Resource Development Plan Key Component 1 — Future Expansion of Longanesi Field: Using its extensive knowledge of Longanesi field reservoirs, and an updated 3D seismic processing and interpretation, AleAnna has proposed and D&M has confirmed the existence of additional potential development locations at Longanesi which are included in the Prospective Resource report: Two of these locations can be developed from the existing Longanesi multi-well pads and have been included in the 5-year development plan. Both can utilize existing pipeline and facilities infrastructure and offer excellent potential for near-term, high profit margin additions to Longanesi. Resource Development Plan Key Component 2 — Development of Additional Resources in the Immediate vicinity of Longanesi Field (Longanesi and Ponte dei Grilli Clusters): The D&M Prospective Resource report contains 17 individual drilling /development locations in the immediate vicinity of Longanesi, many of which can potentially share synergies including multi-well pads, shared production facilities and shared marketing tie-in points. All locations are supported by 3D seismic and offer substantial risk reduction through recognition of Direct Hydrocarbon Indicators (“DHI’s or Bright Spots”), and all are 100% working interest to AleAnna. Resource Development Plan Key Component 3 — Addition of a New Miocene Play Based on Large Anticlinal Closures in the Po Valley: Recent geologic and geophysical assessments by AleAnna’s technical staff have uncovered the existence of a new Miocene-aged natural gas play in the Po Valley, characterized by large anticlinal closures and further supported by the presence of reservoir-quality sandstones deposited in an alluvial or shallow-water environment. The combination of large areal extent and thick potential reservoirs offers the potential for large in-place volumes in several cases. Miocene Prospects with 100% working interest to AleAnna contain these characteristics and are included in the 5-year drilling /development plan. Additional details will be available in an updated corporate presentation which will be incorporated on AleAnna’s website later in 2026. 
