Announcement • Aug 12
New Zealand Energy Corp. Announces Appointment of Jessica Lindskog to Board of Directors, Effective August 11, 2026 New Zealand Energy Corp. announced the appointment of Jessica Lindskog to the Company's board of directors, effective August 11, 2026. Ms. Lindskog brings 20 years of international experience across the energy sector and capital markets, with expertise in investor relations, corporate strategy, equity research, and financial valuation. Ms. Lindskog currently manages strategic investor communications for a publicly traded international energy company, where she advises on shareholder engagement, investor sentiment, capital markets strategy, and market intelligence within the oil and gas sector. Ms. Lindskog holds a Master of Science degree in Accounting and Finance from the London School of Economics and a Bachelor of Management degree from the University of Lethbridge. With Ms. Lindskog's appointment, the Board is also now comprised of two independent directors, satisfying the requirement under TSX Venture Exchange Policy 3.1. Board Change • Aug 05
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 6 new directors. No experienced directors. No highly experienced directors. 2 independent directors (4 non-independent directors). Consultant & Director Michael Adams is the most experienced director on the board, commencing their role in 2023. CEO & Independent Director Toby Pierce was the last independent director to join the board, commencing their role in 2025. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. New Risk • Jul 12
New minor risk - Financial position The company has less than a year of cash runway based on its current free cash flow. Free cash flow: -CA$4.4m This is considered a minor risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 61% per year over the past 5 years. Shareholders have been substantially diluted in the past year (171% increase in shares outstanding). Minor Risks Less than 1 year of cash runway based on current free cash flow (-CA$4.4m). Share price has been volatile over the past 3 months (13% average weekly change). Revenue is less than US$5m (CA$2.0m revenue, or US$1.4m). Market cap is less than US$100m (CA$23.7m market cap, or US$16.8m). 
