Presidio Production Company · NYSE:FTW
Presidio Production — Q2 2026 Earnings Presentation
43 slides from Presidio Production's earnings presentation, August 2026
Slide 1: Q2 Investor Presentation
(\ PRESIDIO Q2 INVESTOR PRESENTATION NVSE:ETW
Slide 2: Legal Disclaimer
LEGAL DISCLAIMER Cautionary Note Regarding Forward-Looking Statements price volatility and its impact on cash flows and dividend sustainability; (8) risks related to oil and gas operations, including The statements contained in this presentation that are not purely historical are forward-looking sta
Slide 3: 2Q 2026 Financial & Operational Highlights
2Q 2026 FINANCIAL & OPERATIONAL HIGHLIGHTS AVG. DAILY PRODUCTION NET INCOME1 ADJUSTED EBITDA ANN. DIVIDEND / SHARE LEVERAGE2 $14.4MM $33.2MM $1.35 2.7x 23 MBoe/d 2Q 2026 ACHIEVEMENTS Refinanced $350MM ABS ✓ Hired CTO and Established Dedicated AI Team ✓ • Lowered cost of capital through interest rate
Slide 4: 2Q 2026 Operating & Financial Results
2Q 2026 OPERATING & FINANCIAL RESULTS Three Months Ended June 30, 2026 (Successor) Production Production • Stable base performance before Canyon Creek contribution Net production (MBoe) 2,071 Average daily production (MBoe/d) 22.8 • Asset Intelligence focused on production uplift without capex Produ
Slide 5: Corporate Overview
CORPORATE OVERVIEW A) NYSE: FTW
Slide 6: The Presidio Vision
THE PRESIDIO VISION A SIMPLE, DISCIPLINED APPROACH TO GENERATE STEADY INCOME FROM AMERICAN ENERGY $1.35 12% 23 MBoe/d $853MM $17Bn Annualized Dividend Implied Dividend Current Net Enterprise Value3 Acquisition Pipeline Per Share Yield1 Production2 1. As of 8/5/2026 closing share price of $11.39 2. P
Slide 7: Why Presidio: A Multi-Layered Value Proposition
WHY PRESIDIO: A MULTI-LAYERED VALUE PROPOSITION INVESTMENT HIGHLIGHTS CURRENT DIVIDEND ACQUISITION ECONOMICS OPERATIONAL IMPROVEMENTS 12% Targeted Growth Framework Attractive Levered Returns Demonstrated Alpha Generation Offers one of the highest dividend yields on Presidio deploys capital into PDP
Slide 8: A World That Needs What We Have
A WORLD THAT NEEDS WHAT WE HAVE INDUSTRIAL REINVENTION Shift to robotics and automated manufacturing drive incremental AI & DATA CENTER DEMAND power demand most forecasters are SHRINKING INVENTORY Artificial intelligence data centers only beginning to model. Inventory of high-quality domestic being
Slide 9: Key Events
KEY EVENTS 2017 2018-2020 2021-2024 2025 2026 Company founded by co- founders Will Ulrich and Deployed $500MM into PDP acquisitions with Continuously optimized the asset base and Announced intention to go public through merger Listed on the NYSE, began dividend Chris Hammack in Fort Morgan Stanley E
Slide 10: Peer Positioning
PEER POSITIONING Presidio bridges the gap — royalty-like stability with operator-level control. PRESIDIO ROYALTIES1 PDP + DEV2 SMID CAP3 Operated, cash Passive ownership Reinvest cash flow Large reinvestment Strategy flow-focused of royalties; no into drilling new of cash flow into production operat
Slide 11: Asset and Acquisitions
ASSET AND ACQUISITIONS A) NYSE: FTW
Slide 12: Asset Overview
ASSET OVERVIEW KANSAS Large, long-life asset base generating stable cash flow OKLAHOMA Canyon Creek Over 2,300 operated 100% PDP-focused, low- Predictable, hedged Acquisition wells across the decline, long-life assets cash flow with strong Anadarko and Arkoma margins Basins of Texas, Oklahoma and Ka
Slide 13: Acquisition Pipeline
ACQUISITION PIPELINE Actionable targets of over $17Bn BASIN A BASIN B BASIN C ~$5.9Bn ~$4.4Bn ~$7.3Bn Estimated Total Deal Size Estimated Total Deal Size Estimated Total Deal Size ~212 MBoe/d ~178 MBoe/d ~302 MBoe/d Production Production Production 34% 25% 41% Source: Company materials, Enverus Note
Slide 14: Canyon Creek Integration Update
CANYON CREEK INTEGRATION UPDATE Canyon Creek establishes Presidio’s operated platform in the Arkoma Basin, with integration underway across field operations, systems and cost structure STRATEGIC INTEGRATION CAPITAL & PLATFORM UNDERWAY DIVIDEND Current Annualized $1.35 • Establishes operated • Presid
Slide 15: Illustrative Acquisition Economics
ILLUSTRATIVE ACQUISITION ECONOMICS Repeatable path to achieving levered returns well in excess of cost of capital AI and Capital-Light Development ABS Financing >30% Asset Integration >20% ~15% 10-12% ASSET-LEVEL RETURN PRESIDIO OPERATED RETURN LEVERED RETURN TOTAL RETURN Return at acquisition, prio
Slide 16: Operational Excellence: How We Create Efficiency
OPERATIONAL EXCELLENCE: HOW WE CREATE EFFICIENCY Presidio applies disciplined, data-driven playbook to modernize acquired oilfield operations. Oil and gas assets transformed into high-efficiency operations through repeatable systems and empowered field execution. CHALLENGE OPPORTUNITY SOLUTION KEY A
Slide 17: The Operating Playbook: Six Levers
THE OPERATING PLAYBOOK: SIX LEVERS PEOPLE FIRST COMPRESSION RIGHT-SIZING CHEMICAL MANAGEMENT Leaner, faster, accountable field org 28% compression cost reduction · Month 1 39% chemical cost reduction · YoY Interview 100% of field staff. Evaluate against Legacy operators oversize compression for peak
Slide 18: Asset Intelligence
ASSET INTELLIGENCE A) NYSE: FTW
Slide 19: Building the Team to Execute the Platform
BUILDING THE TEAM TO EXECUTE THE PLATFORM AI & DATA PLATFORM & PRODUCT Senior Principal AI Product Engineer Principal Software and Cloud Engineer Principal AI/ML Engineer Product Manager: Field Intelligence Principal Data Engineer/Data Scientist Jason Hudak CTO 19
Slide 20: Asset Intelligence: The Asymmetric Upside
ASSET INTELLIGENCE: THE ASYMMETRIC UPSIDE FTW TECHNOLOGIES THREE INTEGRATED GROUPS Uses nearly a decade of data behind every operating decision. Asset Intelligence Group Engineers and support staff armed with AI • Proprietary well intelligence layer trained on millions of data points and analytics t
Slide 21: Presidio: AI Deployment Underway
PRESIDIO: AI DEPLOYMENT UNDERWAY THE STRATEGIC PIVOT: AI is live in well surveillance and production intelligence today. BEFORE NOW 2026 AI DEPLOYMENT • Technology as supporting tool • Well surveillance and production intelligence • 3–5% production increase as direct result of AI live today deployme
Slide 22: AI Philosophy: People at the Center
AI PHILOSOPHY: PEOPLE AT THE CENTER PRESIDIO’S AI PHILOSOPHY: Make every employee dramatically more powerful. Amplification, Not Automation Presidio Astronauts Scalable Impact The right infrastructure, tools, and mindset First class of AI ambassadors, carrying Achieving scale in oil and gas can be c
Slide 23: 2026 Goal: 3–5% Production Uplift from AI
2026 GOAL: 3–5% PRODUCTION UPLIFT FROM AI 3-5% ~2,300 $2.5MM $0 Production uplift target Wells on intelligence Revenue of each 1% uplift New drilling required from AI deployment platform per year at $30/BOE to hit target HOW WE HIT IT THE FLYWHEEL Artificial lift optimization AI continuously adjusts
Slide 24: Corporate Information
APPENDIX CORPORATE INFORMATION
Slide 25: Management Team and Board of Directors
MANAGEMENT TEAM AND BOARD OF DIRECTORS PRESIDIO MANAGEMENT TEAM PRESIDIO BOARD OF DIRECTORS Will Ulrich Chris Hammack Daniel Herz Jerry Schretter Chairman and Co-CEO Co-CEO and Director Compensation Committee Chair, Audit Committee Chair Member of Audit Committee Bank of America, Vice Chairman and A
Slide 26: Capital Structure & Dividends
CAPITAL STRUCTURE & DIVIDENDS Strong Balance Sheet Capital Structure ($MM) As of June 30, 2026 (Adjusted for CCE) Equity Value Supported by Dividends Cash2 $54 ABS $348 $60MM RBL Commitment ABS Warehouse Facility $55 RBL $0 $1.0Bn ABS Warehouse Facility Trail Dust Term Loan $2 Preferred Equity3 $125
Slide 27: Hedging
HEDGING 3Q26 4Q26 1Q27 2Q27 3Q27 4Q27 2028 2029 Beyond Volume 273 266 255 248 242 237 887 756 937 (MBbl) Oil Swaps1 Avg. Strike Price ($/Bbl) $60.01 $60.59 $87.90 $108.14 $100.59 $88.02 $63.17 $67.55 $64.38 Volume 7,429 7,183 6,865 6,624 6,520 6,388 24,143 20,400 56,926 Natural Gas (BBtu) Swaps Avg.
Slide 28: Anticipated Dividend Timeline
ANTICIPATED DIVIDEND TIMELINE • Regular dividend schedule to coincide with earnings going forward (other than 4Q) 2Q 2026 3Q 2026 4Q 2026 1Q 2027 Declaration Date 8/11/26 11/12/26 2/12/27 5/12/27 Record Date 8/31/26 12/2/26 3/4/27 6/1/27 Payment Date 9/14/26 12/16/26 3/18/27 6/15/27 Note: Anticipate
Slide 29: Q2 Detail
APPENDIX Q2 DETAIL A) NYSE: FTW
Slide 30: Non-GAAP Financial Measures
NON-GAAP FINANCIAL MEASURES Adjusted EBITDA is defined as net income before (1) interest expense, net; (2) depreciation, depletion, amortization and accretion; (3) unrealized loss (gain) on derivative instruments; (4) non-cash share-based compensation; (5) non-recurring compensation expense related
Slide 31: Reconciliation of GAAP to Adjusted EBITDA and Adjusted Unhedged EBITDA
RECONCILIATION OF GAAP FINANCIAL MEASURES TO ADJUSTED EBITDA AND ADJUSTED UNHEDGED EBITDA Three Months Ended June 30, 2026 $ in thousands (Successor) Net income (loss) (GAAP) (1) $15,479 Depletion, oil and gas properties 15,130 Depreciation of other property and equipment 859 Accretion of asset reti
Slide 32: Reconciliation of GAAP to Adjusted G&A Expense
RECONCILIATION OF GAAP FINANCIAL MEASURES TO ADJUSTED GENERAL AND ADMINISTRATIVE EXPENSE Three Months Ended June 30, 2026 $ in thousands (except per Boe) (Successor) General and Administrative (GAAP) $7,164 Share-based compensation (1) (2,219) Non-recurring cost (2) (221) Adjusted General and Admini
Slide 33: Reconciliation of Net Debt to Total Debt
RECONCILIATION OF NET DEBT TO TOTAL DEBT $ in thousands June 30, 2026 ABS III securitization notes $348,117 Citizens RBL (undrawn) - Trail Dust term loan 2,013 Equipment financing obligations 1,462 ABS III debt issuance costs, net (8,520) Total Debt (GAAP) $343,072 Less: Equipment financing obligati
Slide 34: Condensed Consolidated Statement of Operations
CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS (UNAUDITED) Three Months Ended June 30, 2026 $ in thousands (except per share amounts) (Successor) Revenues Oil sales $30,673 Natural gas sales 7,645 Natural gas liquids sales 15,381 Field services revenue 301 Total revenues 54,000 Operating expenses Le
Slide 35: Condensed Consolidated Balance Sheet
CONDENSED CONSOLIDATED BALANCE SHEET (UNAUDITED) Assets June 30, 2026 Liabilities and Equity June 30, 2026 Cash and cash equivalents $42,317 Accounts payable $15,696 Restricted cash 11,278 Production taxes payable 3,570 Accounts receivable, oil and gas 18,105 Revenue and royalties payable 26,071 Acc
Slide 36: Selected Operating and Financial Data
SELECTED OPERATING AND FINANCIAL DATA Three Months Ended June 30, 2026 (Successor) Realized Prices by Product Pre-Hedge Post-Hedge Production Oil ($/Bbl) $94.38 $63.69 Net production (MBoe) 2,071 Natural gas ($/Mcf) $1.08 $4.23 Average daily production (MBoe/d) 23 NGLs ($/Bbl) $26.94 $17.64 Producti
Slide 37: Optimization Case Studies
APPENDIX OPTIMIZATION CASE STUDIES
Slide 38: Labor Modernization: Lean Empowered Field
LABOR MODERNIZATION: LEAN EMPOWERED FIELD Revamping field operations through empowerment, accountability, and technology: Interview 100% of field staff using standardized evaluation process to retain top talent Flatten field structure with asset managers, techs (super pumpers), and pumpers for faste
Slide 39: Pump-by-Exception: Turning Data into Field Action
PUMP-BY-EXCEPTION: TURNING DATA INTO FIELD ACTION Traditional well-visit schedules gave way to automated, exception-based system using machine learning and real-time alerting. FEWER HIGHER SMARTER PUMPER STRATEGY PUMPERS PRODUCTIVITY ROUTES Legacy: Daily visits to every well High-priority wells Pump
Slide 40: Optimization: Compression & Artificial Lift
OPTIMIZATION: COMPRESSION & ARTIFICIAL LIFT Presidio optimized compression and artificial lift systems to align with field demand. By downsizing and redesigning equipment, the team cut fuel & maintenance costs while improving reliability and consistency. RIGHT-SIZED REDUCED FUEL & REDUCED INCREASED
Slide 41: Chemical Management: Standardizing for Efficiency
CHEMICAL MANAGEMENT: STANDARDIZING FOR EFFICIENCY Presidio replaced vendor-run chemical programs with internally managed, data-informed model. Reducing costs and improving performance consistency across the field. INTERNAL IMPROVED CUT STANDARDIZED CONTROL PERFORMANCE COSTS OPERATIONS Centralized ch
Slide 42: 2025 Workover Program: Capital Discipline in Action
2025 WORKOVER PROGRAM: CAPITAL DISCIPLINE IN ACTION Presidio applied disciplined capital allocation and data-driven insight to pull 152 workovers out of bullpen, maximizing production uplift while minimizing spend. SMART CAPITAL MEASURABLE UPLIFT REPEATABLE MODEL LEARNING LOOP Prioritized wells with
Slide 43: Development: Bringing Value Forward
DEVELOPMENT: BRINGING VALUE FORWARD Over $100MM in value realized since inception with zero capital risk. Flexible capital and operating structures allow Presidio to scale with partners and deliver growth without incremental overhead or risk. STRUCTURED JOINT VENTURES ACREAGE SALES Built and execute
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