Epsilon Energy Ltd. · NASDAQ:EPSN
Epsilon Energy — Investor Presentation (January 2026)
13 slides from Epsilon Energy's investor presentation, January 2026
Slide 1: Epsilon Energy Corporate Presentation - January 2026
Epsilon Energy Quality Assets, Financial Resilience, Sustainable Growth Corporate Presentation - January 2026
Slide 2: Disclaimers
Disclaimers Certain statements contained in this presentation constitute forward looking statements. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, ‘may”, “will”, “project”, “should”, ‘believe”, and similar expressions are intended to identify forward-looking statements.
Slide 3: Epsilon - PRB Operator and Project Based Non-Op in the Marcellus / Permian
Epsilon - PRB Operator and Project Based Non-Op in the Marcellus / Permian Asset Portfolio 1 Appalachian Basin Marcellus (Non-Operated) • Core non-op position in the most economic dry gas play in NAM - operated by Expand Energy • 5,100 net acres • 27.9 MMcf/d NRI production (146 producing wells) YTD
Slide 4: Executive Summary / Take-Aways
Executive Summary / Take-Aways • Small-cap energy company (upstream / midstream) with a unique opportunity set of high-quality inventory across 3 assets (Marcellus, Powder River, Permian) • New CEO / CFO joined in mid-2022 – since that time, the Company established the Permian and Powder River posit
Slide 5: Opportunities for Capital Allocation (Unique Attribute for Small Cap E&P)
Opportunities for Capital Allocation (Unique Attribute for Small Cap E&P) Inventory Economics Portfolio Growth Drivers Non - Operated Operated Operated Non - Operated Marcellus PRB Upper Nio3 PRB Parkman4 Permian Barnett Per Net Well (2.5 mile)1 Per Net Well (2- mile)1 Per Net Well (2- mile)1 Per Ne
Slide 6: Marcellus – Upstream Overview
Marcellus – Upstream Overview Summary Interest in Core NE PA Marcellus • 5,100 net acres in Susquehanna County, PA » Majority operated by Expand Energy • 146 gross (26.4 net) working interest producing wells • 18% average WI / 87% average NRI per well Susquehanna • Estimated 400K-500K gross CLL ft.
Slide 7: Marcellus – Midstream Overview
Marcellus – Midstream Overview Summary Auburn Compression Facility: Susquehanna Co., PA • 35% interest in the Auburn Gas Gathering System (GGS) • Partners: Williams Companies (operator) & Equinor • 45 miles of gathering pipelines • Current max system capacity of 220,000 MMcf/d • Gas discharges into
Slide 8: Leverage to Incremental Marcellus Development
Leverage to Incremental Marcellus Development Auburn - 4 Well Marcellus Pad (57K Gross CLL ft.) Auburn GGS – Cash Flow Sensitivity to Annual Throughput 18.0 16.6 $9,000 $12,000 $11,072 16.0 $8,000 $9,752 14.2 $10,000 14.0 $7,000 $8,460 11.7 12.0 11.2 $6,000 $8,000 9.7 $6,802 10.0 9.2 $5,000 MMcf/d 8
Slide 9: Powder River Basin Overview (Operated)
Powder River Basin Overview (Operated) Summary PRB Position Map • Core 39,600 net acre PRB position, directly offset premier operators in both Campbell and Converse County, WY. » Net Production: 2,200 Boe/d (50% oil) (Nov 2025) » Average Operated WI: 53% / Average Lease NRI: 82% » 31,000 acres remai
Slide 10: Permian Basin Overview
Permian Basin Overview Summary Ector Co. Position • Ector Co. TX working interest » Scaled position in one of the hottest emerging plays in the basin (Barnett) » 25% working interest in 16,600 gross acres (4,100 net acres) » Barnett 2-mile type curve: EUR 112 BOE/ft (80% Oil); 12 mos: 200,000 BOE (8
Slide 11: Leverage to Incremental Barnett and PRB Development
Leverage to Incremental Barnett and PRB Development Permian - 4 Well Barnett Pad (40K Gross CLL ft.) PRB - 3 Well Parkman Pad (30K Gross CLL ft.)1 700 $7,000 2,500 2,281 20,000 618 18,000 600 542 $6,000 2,000 16,000 1,764 500 440 445 $5,000 14,000 1,523 396 380 1,500 12,000 400 344 334 $4,000 1,209
Slide 12: Cash-Flow Potential From Portfolio Investments (Illustrative)
Cash-Flow Potential From Portfolio Investments (Illustrative) Notional Development Scenario: Incremental 3 Year Operating Cash Flow1 $70,000 Yr 2 Total: $62,244 $60,000 Yr 3 Total: $55,761 $8,270 $4,487 $50,000 $8,647 $11,429 $40,000 $22,796 $13,541 $30,000 Yr 1 Total: $26,376 $2,273 $4,436 $20,000
Slide 13: Disclosures
Disclosures Non-GAAP Financial Measures Epsilon defines Adjusted EBITDA as earnings before (1) net interest expense, (2) taxes, (3) depreciation, depletion, amortization and accretion expense, (4) impairments of natural gas and oil properties, (5) non-cash stock compensation expense, (6) gain or los
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