U.s. Energy Corp. · NASDAQ:USEG
U.s. Energy — Big Sky Industrial — Investor Presentation (September 2026)
21 slides from U.s. Energy's investor presentation, September 2026
Slide 1: Big Sky Industrial Inc. Investor Presentation
BIG SKY INDUSTRIAL INC. INVESTOR PRESENTATION Building America’s Energy & Carbon Management Platform
Slide 2: Forward-Looking Statements
Forward -Looking Statements Information set forth in this communication constitute “forward -looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and other securities laws . All statements other than historical facts are forward
Slide 3: Big Sky Industrial At A Glance
Big Sky Industrial At A Glance OVERVIEW Developing a diversified industrial platform focused on helium production, carbon management and energy 50+ YEAR PRODUCING ASSET. infrastructure. 27% owned by insiders. 1.3 BCF of helium, 444 BCF of CO₂ resource, large proven oil basin — fully owned, fully ope
Slide 4: The Deliberate Strategic Pivot
The Deliberate Strategic Pivot From Legacy E&P to an Integrated Industrial Gas and Carbon Management Platform COMPETITIVE MOATS STRATEGICALLY MONETIZED NON -CORE ASSETS WITH PROCEEDS REDEPLOYED INTO THE BIG SKY CARBON PLATFORM CONTROL ONE OF THE LARGEST INDUSTRIAL GAS STRUCTURES IN THE U.S. REPOSITI
Slide 5: The Flywheel in Action
The Flywheel in Action 2027E Revenue Mix Produce Process Extract Low -Cost Industrial Gas at Kevin Dome Purify Helium & Capture/ Liquefy CO2 50% Oil Production $75/bbl 35% Carbon Management $85/ton – policy backed Reinvest Monetize Expand Capacity Through Self -Funding 45Q Helium + EOR + 15% Monetiz
Slide 6: Phase 1 Capital Funding is Secured
Phase 1 Capital Funding is Secured Phase 1 Capital Structure. First Revenue Target: Q1 2027E. Phase 1 Capital - Committed Capital in Place Sources of Capital ▪ $38mm deployed through acquisitions, site development, permitting, and Phase 1 production Capex ▪ $15mm remaining CapEx expected to be cover
Slide 7: BSIN Advantage: One Platform. Three Streams. No Redundancy
One Platform. Three Streams. No Redundancy Each Revenue Line is Independent, Contracted, or Supported by Federal Policy. Helium Carbon Management Oil Production ▪ Contracted offtake agreement closed April ▪ First -mover as an emerging Western U.S. ▪ 170+ Class II injection wells permitted for CO2 20
Slide 8: Long-Term Helium Offtake Agreement
Long -Term Helium Offtake Agreement Contracted revenue de -risks supply and underpins predictable, financeable cash flows from commencement. Buyer Profile Investment -grade industrial gas company with global distribution infrastructure and established market relationships B ASE P RICE A NNUAL H ELIU
Slide 9: Big Sky Carbon Hub
Big Sky Carbon Hub One of the Largest Industrial Gas Structures in the United States – Permitted, De -Risked, and Ready to Scale. Big Sky Carbon Hub Positioned For Regional Impact ▪ The Big Sky Carbon Hub sits atop the renowned Kevin Dome geologic Cut Bank structure, one of the largest of its kind i
Slide 10: Diversified Revenue Streams
Diversified Revenue Streams Project Economics Inflect Sharply in 2028 to include our base case plus illustrative Phase 2 expansion case Expected long -term contracted Projected Project Revenues and EBITDA ($MM) (1)(2) Helium industrial gas exposure within a vertically integrated platform. $90 $75 Ca
Slide 11: Infrastructure & Market Access
Infrastructure & Market Access Strategic Infrastructure Position with Direct Access to Premium Markets. Infrastructure Groundwork in Place Geographic Position on Major Rail and Highway Network ▪ BSIN finished its drilling & completions operations in August 2025, capping off ▪ Rail spur in Shelby, MT
Slide 12: Milestones Achieved. Catalysts Ahead
Milestones Achieved. Catalysts Ahead The foundation is complete. What remains is a sequence of identifiable, independent de -risking events Foundation Complete Catalysts Ahead Base case Excluded from base case 2022 -2024 3Q 2026 MRV approvals – Big Rose and Cut Bank ~$130MM Assets assembled Submissi
Slide 13: The Investment Case
The Investment Case Differentiated Asset 1 The only integrated helium + CCUS hub in the Northwest U.S. 1.3 Bcf Helium. 444 BCF CO year reserve life. 2 . 100% owned and operated. 50 - Economics 2 Three independent revenue streams. $130M in 45Q federal credits over 12 years. 4.8x EV/2027E EBITDA vs 7
Slide 14: Management Team
Management Team Executives with decades of combined experience in energy finance, carbon management, and E&P operations John Weinzierl Ryan Smith Mark Zajac Chairman CEO CFO 30+ years of experience 20+ years of experience 30+ years of experience Led two public listings as Co -founder and CEO of CEO
Slide 15: Appendix
Appendix
Slide 16: Helium Market – Global Supply
Helium Market – Global Supply Concentrated reserves, and a growing share of them unavailable to Western buyers GLOBAL PROVED HELIUM RESERVES — 190 BCF RECENT DATAPOINTS ARE BULLISH 42% sanctioned, disrupted or export -banned China Ministry of Commerce instituted a helium export ban in July 2026 43%
Slide 17: Helium Market – Domestic Demand
Helium Market – Domestic Demand 2.9 BCF per year today, $1Bn+, growing to 4.2 BCF by 2031 — led by semiconductors and aerospace U.S. helium demand outlook BY END MARKET WHAT IS DRIVING IT BCF 5 +0.49 BCF Over Aerospace Semiconductors 1.3 BCF 0.65 BCF by 2031 · 16.4% CAGR Leading -edge fab additions
Slide 18: Reserves Versus Listed Helium Peers
Reserves Versus Listed Helium Peers The Largest U.S. -based proved helium reserve in the junior peer group, at the lowest enterprise value per Mcf. Lower is better PROVED HELIUM RESERVES (BCF) ENTERPRISE VALUE PER MCF Competitor 4 7.20 Big Sky Industrial $40 South Africa Big Sky Industrial 1.30 Comp
Slide 19: BSIN: A Different CCUS Platform
BSIN: A Different CCUS Platform A scalable U.S. CCUS project sourced from industrial gas – not fossil fuels, ethanol, or DAC. ACTIVE PROJECT OVERVIEW 1.5 $130 MM 1.0 Expected 45Q value over first 12 years 3.0 of operations. 0.5 Synfuels Plant 7.3 Coal Gasification 16 other plants - #17 5.0 Century P
Slide 20: Exposure to Long-Term Oil Upside
Exposure to Long -Term Oil Upside ~70 MMbbls of Incremental Recovery Potential from a Fully Permitted, Operating Field. Established Operations ▪ Operated by BSIN since January 2022 with experienced local field team. Cut Bank EOR Field Map ▪ ~29,000 net acres with long production history. Currently P
Slide 21: NASDAQ: BSIN
NASDAQ: BSIN
Big Sky Industrial — Investor Presentation (September 2026) on 6ix