16 slides from Questerre Energy Corporation Class A's earnings presentation, Aug 12, 2026
Slide 1: Second Quarter 2026 Results
Second Quarter 2026 Results August 12, 2026
Slide 2: About Questerre
WHO WE ARE About Questerre
Slide 3: Cash-Flow Funded Base with Option on Multi-Billion Barrel Oil Shale Resources
Cash-Flow Funded Integrated oil shale company producing over 5,200 boe per day Base with Option on • 4,000 boe per day from oil shale with next-gen Multi-Billion Barrel technology and billion barrels + oil in place • 1,200 boe per day from conventional assets Oil Shale Resources Realizing value from
Slide 4: Brazil, Utah, Kingdom of Jordan, Western Canada, Quebec
Brazil Integrated oil shale mining and refining operations Utah Patented technology and large oil resource through Red Leaf subsidiary Kingdom of Jordan Securing rights to significant oil shale deposit BRAZIL Western Canada Condensate-rich Montney resource in Alberta Proven Torquay/Spearfish tight o
Slide 5: Second Quarter 2026 Results
QUESTERRE ENERGY CORPORATION Second Quarter 2026 Results
Slide 6: Highlights for Second Quarter of 2026
Highlights for Second Quarter of 2026 HCCO QGAS Successful HCCO test using a commercial-scale vessel at the PX Preferred shares listed for trading on Euronext Growth under the Energy facility ticker QGAS $23.5MM 5,700 boe/d Sale of the Kakwa Central assets for $23.5 million in cash Like for like ave
Slide 7: Production & Sales
Production & Sales Brazil volumes relatively unchanged from Q1; Canada volumes reflects the Kakwa Central sale Oil Production vs Sales Brazil Production ~4,150 boe/d · Sales ~3,100 boe/d Q2 2026 Q1 2026 • Production of ~4,150 boe per day and sales of ~3,100 boe per day — relatively Oil production vs
Slide 8: Financial Results
Financial Results Net income for the quarter of $27.8 million and $10.2 million year to date Accounting net income including $17.5 million gain on sale of Kakwa North and $5.9 million non-cash net finance income from FV embedded derivative on bond + other Net income to Adjusted Funds Flow (C$MM) Adj
Slide 9: Working Capital Deficit
Working Capital Deficit Current assets & current liabilities (C$MM) Current liabilities not expected to be settled in cash Current assets C$87.1MM Component C$MM % Settles in Current liabilities C$106.2MM PX Energy acquisition (SPAC & convertible notes) 22.8 51% Shares Non-cash (settles in shares or
Slide 10: Secured Debt
Secured Debt Ring-fenced to Brazil, no parental guarantees and almost all finance expense is non-cash US$80M face value at April 2028 maturity PIK all 2026 interest added to principal No parental guarantees or obligations Secured bonds — carrying value to face value (MM) YTD 2026 finance expense — C
Slide 11: Market Outlook for PX Energy
Market Outlook for PX Energy Restoring efficiency, diversifying markets, and implementing HCCO Emergency maintenance on schedule for completion by August 31, 2026 Building new markets Including marine diesel and gasoline blending to diversify customer base. Implement HCCO at PX Energy Adding low-tem
Slide 12: Quebec Utica remains shovel ready solution for Quebec's energy crisis
Quebec Utica Preferred Shareholders Preferred Rights remains shovel RECENT NEWS ready solution for HQ raises rates for top residential consumers to discourage excessive consumption Quebec’s energy montreal.citynews.ca crisis Quebec RNG targets will cost consumers one billion dollars over four years
Slide 13: Near Term Outlook
Near Term Outlook PX Energy Quebec Improve profitability through cost cutting initiatives and diversifying Advocate for local gas as part of solution to the electricity energy customer base shortage Complete plant turnaround and implement HCCO technology to Advance legal action to protect shareholde
Slide 14: Forward Looking Information
Forward Looking Information 14
Slide 15: Forward-looking information disclaimer
This presentation contains certain forward–looking information and statements within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "may", "will", "project", "should", "believe", "plans", "intends“, “outlook”, “strategy”, “poten
Slide 16: Questerre Energy Corporation
Questerre Energy Corporation Suite 1650, 801 Sixth Avenue SW Calgary, Alberta • T2P 3W2 • Canada Tel: +1.403.777.1185 Fax: +1.403.777.1578 www.questerre.com 16 info@questerre.com