Strong 2025 Delivery

Contributing sentiments towards policy:

56% : Valeura incurred total corporate and petroleum income taxes of US$2.4 million and special remuneratory benefit ("SRB") tax of US$19.8 million, during the full year 2025.
55% : Adjusted cashflow from operations is calculated using two methods which generate the same figures: a) by subtracting from oil revenues, Adjusted Opex, royalties, general and administrative costs which are adjusted for non-recurring charges (generating the adjusted pre-tax cashflow), and accrued Petroleum Income Tax Act taxes and SRB expenses, and b) to enhance and facilitate to the reader a reconciliation of this non-IFRS measure, the Company also presented the Adjusted cash flow from operations by calculating from cash generated from (used in) operating activities in the consolidated statement of cash flows, adjusting with non-cash items, Adjusted Opex, general and administrative costs which are adjusted for non-recurring charges (generating the adjusted pre-tax cashflow), and accrued PITA tax and SRB expenses.
55% : Forward-looking information is based on management's current expectations and assumptions regarding, among other things: political stability of the areas in which the Company is operating; continued safety of operations and ability to proceed in a timely manner; continued operations of and approvals forthcoming from governments and regulators in a manner consistent with past conduct; future drilling activity on the required/expected timelines; the prospectivity of the Company's lands; the continued favourable pricing and operating netbacks across its business; future production rates and associated operating netbacks and cash flow; decline rates; future sources of funding; future economic conditions; the impact of inflation of future costs; future currency exchange rates; interest rates; the ability to meet drilling deadlines and fulfil commitments under licences and leases; future commodity prices; the impact of the Russian invasion of Ukraine; royalty rates and taxes; future capital and other expenditures; the success obtained in drilling new wells and working over existing wellbores; the performance of wells and facilities; the availability of the required capital to funds its exploration, development and other operations, and the ability of the Company to meet its commitments and financial obligations; the ability of the Company to secure adequate processing, transportation, fractionation and storage capacity on acceptable terms; the capacity and reliability of facilities; the application of regulatory requirements respecting abandonment and reclamation; the recoverability of the Company's reserves and contingent resources; future growth; the sufficiency of budgeted capital expenditures in carrying out planned activities; the impact of increasing competition; the ability to efficiently integrate assets and employees acquired through acquisitions; global energy policies going forward; future debt levels; and the Company's continued ability to obtain and retain qualified staff and equipment in a timely and cost efficient manner.
54% : Financial Highlights * Revenue of US$594.4 million based on average full year realised price of US$70.2/bbl; * Adjusted after tax cashflow from operations of US$247.4 million; * Adjusted Opex of US$222.7 million, equating to US$26.3/bbl; and * Cash and net cash balance as of 31 December 2025 of US$305.7 million, with no debt. (1) Working interest share production, before royalties. (2) Subject to approval from the Government of Thailand. (3) Non-IFRS financial measure or non-IFRS ratio - see "Non-IFRS Financial Measures and Ratios" section. (4) Includes restricted cash of US$23.0 million.
53% : The substantial reduction in petroleum income taxes is a direct result of the Company's more optimised tax structure, implemented through its internal restructuring of subsidiaries effective 01 November 2024.
52% : Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of this news release.
50% : Such metrics are commonly used in the oil and gas industry and have been included herein to provide readers with additional measures to evaluate the Company's performance; however, such measures are not reliable indicators of the future performance of the Company and future performance may not compare to the performance in previous periods.
48% : Under the new structure, Valeura is using income tax loss carry-forwards originating from its acquisition of the Wassana field to offset taxable income from all of its Thai III petroleum concessions, being Wassana, Nong Yao, and Manora.
48% : A number of factors could cause actual results to differ materially from those anticipated by the Company including, but not limited to: the ability of management to execute its business plan or realise anticipated benefits from acquisitions; the risk of disruptions from public health emergencies and/or pandemics; competition for specialised equipment and human resources; the Company's ability to manage growth; the Company's ability to manage the costs related to inflation; disruption in supply chains; the risk of currency fluctuations; changes in interest rates, oil and gas prices and netbacks; potential changes in joint venture partner strategies and participation in work programmes; uncertainty regarding the contemplated timelines and costs for work programme execution; the risks of disruption to operations and access to worksites; potential changes in laws and regulations, the uncertainty regarding government and other approvals; counterparty risk; the risk that financing may not be available; risks associated with weather delays and natural disasters; and the risk associated with international activity.
37% : As at 31 December 2025, Valeura had cumulative tax loss carry-forwards of US$282.8 million.

*Our bias meter rating uses data science including sentiment analysis, machine learning and our proprietary algorithm for determining biases in news articles. Bias scores are on a scale of -100% to 100% with higher negative scores being more liberal and higher positive scores being more conservative, and 0% being neutral. The rating is an independent analysis and is not affiliated nor sponsored by the news source or any other organization.