Southern Energy Corp. · TSXV:SOU
Southern Energy — Investor Presentation (February 2026)
22 slides from Southern Energy's investor presentation, February 2026
Slide 1: Positioned to Deliver Sustainable Growth
Positioned to Deliver Sustainable Growth Corporate Presentation February 2026 TSXV : SOU
Slide 2: Positioned for Sustainable Growth
Positioned for Sustainable Growth High quality Gulf Coast assets receiving premium pricing • Premium natural gas pricing above NYMEX (Henry Hub) • Stable base production and cash flow with long reserve life AIM, TSXV Listings • Low cost, high margin operations support profitable through- cycle busin
Slide 3: Transformative Re-Financing Transaction
Transformative Re-Financing Transaction New Long-Term Strategic Partner Pro-Forma - Key Highlights Aligns Southern with a supportive, long-term strategic investor TCC Royalty Corp. • Desire to help SOU grow both organically and via acquisitions without sacrificing $23.5 MM Investment operational con
Slide 4: Value Creation through Accretive Growth
Value Creation through Accretive Growth Acquisition Opportunities Organic Development Growth Strong Base Production Disciplined consolidation strategy Large scale, under-developed assets & Asset Optimization utilizing management’s proprietary with low historical recovery from database and techni
Slide 5: Gwinville – Scalable, Multi-Zone Natural Gas Development
Gwinville – Scalable, Multi-Zone Natural Gas Development Significant Underdeveloped Gas Resource • Multi-zone production of 1.5 Tcf, 12 MMbbl, historical decline < 10% 1 mile 14-6 #3 • 1+ Tcf OGIP in Selma Chalk and City Bank target zones; > 100 HZ locations identified • Well-defined by hundreds of
Slide 6: Gwinville Production Ramp Up
Gwinville Production Ramp Up 2 Remaining High-Rate Wells Ready for Completion Upper Selma Chalk Lower Selma Chalk • Successful drilling execution with the 2 DUCs averaging 5,400’ in City Bank length with ~ 95% of the laterals in the high-grade porosity Drilled, Uncompleted DUC • Completion costs est
Slide 7: Williamsburg Asset
Williamsburg Asset 1979 1999 2008 Current Operations Development pause Field extension Cotton Valley Activity • 35 wells: 21 Active / 2 SWD / 12 In-Active HISTORY • End of original development of • Sligo / Hosston development • Re-entry of Eunice Odum 1 • 44 miles of pipeline, including gas sales th
Slide 8: Williamsburg High Impact Opportunity
Williamsburg High Impact Opportunity Opportunity Overview Seminary – Cotton Valley Analog Size • Cotton Valley closure mapped at > 7200 acres Seminary Doley #1 (2023 drill) Williamsburg 1+ MMbbl 1,000 1,000,000 Doley #1 Estimated net income • Williamsburg produced 48 API oil from the Cotton Valley C
Slide 9: Mechanicsburg Liquids Rich Gas Development
Mechanicsburg Liquids Rich Gas Development Low-Risk Infill Drilling • Current production capacity is 1.4 MMcfe/d comprised of 14% liquids • Existing infrastructure includes a company owned gas plant and gathering system with ample capacity and frac water supply pit Tinsley • 6 vertical locations are
Slide 10: Southern’s Premium Pricing Advantage
Southern’s Premium Pricing Advantage Delivery Sales Point & Expanding LNG Export TENNESSEE U.S. LNG Export Expansion OKLAHOMA • Currently exporting 20 Bcf/d and expected to reach 32 Bcf/d of ARKANSAS export capacity by the end of 2030 MISSISSIPPI ALABAMA Southern • Incremental 8 Bcf/d of export capa
Slide 11: Positioning Southern in a Strengthening U.S. Gas Price Environment
Positioning Southern in a Strengthening U.S. Gas Price Environment Demand – Coal Retirements, AI Data Centres & LNG Exports 135 Supply – Demand Imbalance 130 • U.S. natural gas demand expected to grow to more than 130 Bcf/d in next 4 years 125 • Appalachia and Haynesville shale plays have stagnated
Slide 12: Opportunity Rich Consolidation Fairway
Opportunity Rich Consolidation Fairway Strategic Advantage Consolidation & Development Focus Area • Self-generated opportunities utilizing proprietary database • Digital workflow has proven management successful in previous companies Oklahoma • Significant amount of work completed in advance on mult
Slide 13: Investment Thesis
Investment Thesis Why Invest in Southern Energy? Experience • Highly experienced management team with proven track record TEAM HAS 10 YEARS OPERATING HISTORY IN THE U.S. GULF COAST AREA • Extensive operations experience in southeastern U.S. core area SOUTHERN IS 13% INSIDER OWNED (NON-DILUTIVE BASIS
Slide 14: Appendix
Appendix TSXV: SOU, AIM: SOUC www.southernenergycorp.com 13
Slide 15: Southern’s Market Capitalization vs. Henry Hub
Southern’s Market Capitalization vs. Henry Hub Historic Relationship: Southern vs. Henry Hub Performance $10.00 $120,000,000 Henry Hub Spot Henry Hub - Jan. 2, '26 Strip TZ4 $9.00 SOU Market Cap (USD) $100,000,000 $8.00 Henry Hub Spot Price (US$/MMBtu) $7.00 $80,000,000 SOU Market Capitalization (US
Slide 16: Mississippi Oil & Gas History – Home of Core Assets
Mississippi Oil & Gas History – Home of Core Assets Mississippi Oil & Gas Highlights > 2.0 > 10 > 34,000 Billion bbl cumulative oil Tcf cumulative gas Wells drilled to date • Significant hydrocarbon recovery – Superior production on a per well basis than Texas or Louisiana • First commercial oil wel
Slide 17: Southern Energy’s Gulf Coast Advantage
Southern Energy’s Gulf Coast Advantage High Profit Margin Public North American Gas Producers – 2024 Field Cash Margins • Minimal transportation costs with owned/ $3.00 operated infrastructure All-In Gathering, Processing, Transportation and Operating Cost Field Cash Margin (Before Hedging) • Enable
Slide 18: Southern Energy Asset Base in Mississippi
Southern Energy Asset Base in Mississippi > 38,000 Acres ~ 11 MMcfe/d $110.1 MM < $1.25/Mcfe > 98% held by production (HBP) Current Production (1) 2P PV10 (2) All-In Lifting/Processing Cost Mechanicsburg Production Magee • Liquids rich; > 25 bbl/MMcf oil & NGL gas 1.4 Mississippi 55 • Field producti
Slide 19: Leadership Team
Leadership Team Management Team Board of Directors Experienced and successful management team Ian Atkinson, M.Sc., P. Eng. – President & CEO Ian Atkinson, P. Eng., ICD.D Athabasca Oil, Morpheus, Renaissance and Talisman Former founder and EVP of Athabasca Oil with a history of creating shareholder v
Slide 20: Disclaimers
Disclaimers General The information contained in this presentation (the "Presentation") has been provided solely for informational purposes and does not purport to be comprehensive or contain all the information that may be required by recipients to evaluate Southern Energy Corp. ("Southern" or the
Slide 21: Disclaimers
Disclaimers All figures in USD unless otherwise specified FOFI. This Presentation contains future-oriented financial information and financial outlook information (collectively, "FOFI") about Southern's prospective results of operations, production, investor yields, working capital, capital expendit
Slide 22: Disclaimers
Disclaimers Analogous Information This Presentation provides certain information relating to properties in close proximity to the Company's properties, which is "Analogous Information" as defined by applicable securities laws. This analogous information is derived from publicly available information
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