Presidio Production Company · NYSE:FTW
Presidio Production — Presidio Petroleum — SPAC Merger (January 2026)
38 slides from Presidio Production's SPAC merger presentation, Jan 12, 2026
Slide 1: Presidio Investor Presentation
- PRESIDIO INVESTOR PRESENTATION | ——— | oe NYSE: FTW January 2026
Slide 2: Legal Disclaimer
LEGAL DISCLAIMER 2 This presentation and any oral statements made in connection therewith have been prepared and are being provided on a confidential basis to assist interested parties in making their own evaluation with respect to the proposed Business Combination among EQV Ventures Acquisition Cor
Slide 3: Table of Contents
TABLE OF CONTENTS 3 INTRODUCTION …………………………………………………………………………………… . ………… . 4 PRESIDIO’S UNIQUE BUSINESS MODEL ……………………………… . …………… ... 16 THE RESULT ………………………………………………………………… ........................................... 27 APPENDIX … .. ………………………………………………………………… ......................................
Slide 4: Introduction
INTRODUCTION 4
Slide 5: The Presidio Vision
A SIMPLE, DISCIPLINED APPROACH TO GENERATE STEADY INCOME FROM AMERICAN ENERGY THE PRESIDIO VISION F o u n d e d 2 0 1 7 | H e a d q u a r t e r e d i n F o r t W o r t h | 1 2 5 E m p l o y e e s 5
Slide 6: Executive Summary
EXECUTIVE SUMMARY Platform Built for Ongoing Consolidation • Proven track record sourcing and integrating accretive PDP acquisitions • Large, fragmented acquisition universe provides a long runway for NAV and cash flow per share growth Scaled public energy platform delivering durable free cash flow,
Slide 7: Experienced Management Team
Will Ulrich Founder and Co - CEO Atlas Energy UBS Investment Bank Harvard Chris Hammack Founder and Co - CEO Trinity River Energy Atlas Energy Range Resources Texas A&M Brett Barnes EVP & General Counsel Trinity River Energy EOG Resources Anadarko Petroleum Texas A&M John Brawley EVP & CFO Maverick
Slide 8: Establishment of a Strong Governance Structure
Ray Walker Member of Audit Committee and Nominating and Corporate Governance Committee Encino Energy, COO Range Resources ESTABLISHMENT OF A STRONG GOVERNANCE STRUCTURE Board of Directors Daniel Herz Compensation Committee Chair, Member of Audit Committee WhiteHawk Energy, CEO Falcon Minerals Corp.
Slide 9: Asset Overview
Fort Worth T E X A S O K L A H O M A K A N S A S 9 Large, long - life asset base generating stable cash flow. Presidio asset ASSET OVERVIEW Predictable, hedged cash flow with strong margins Over 2,000 active operated wells across the Anadarko Basin of Texas, Oklahoma and Kansas 100% PDP - focused, l
Slide 10: Presidio's Virtuous Circle
10 PRESIDIO'S VIRTUOUS CIRCLE HEDGING COST DISCIPLINE HIGH QUALITY REAL ASSETS PRODUCING DAILY CASH FLOW STEADY, GROWING DIVIDEND ACCRETIVE ACQUISITIONS TECHNOLOGY
Slide 11: Acquisition Market
$ 44 B RESULT 2026 - 2028 actionable pipeline 11 ACQUISITION MARKET Large Market Opportunity → Focused Where We Win FILTER I Cash - flow - positive, long - life wells $ 75 B TOTAL MARKET of PDP assets held by private equity Upstream assets held by aging PE funds expected to require liquidity within
Slide 12: Forward Planning: Buying More Targets
12 FORWARD PLANNING: BUYING MORE TARGETS NTM Top Potential Actionable Targets Op. Producing Well Count Production % Liquids 2 Net Production (Mboe/d) 1 Play / Focus Deal Size ($MM) Company 1,588 64% 86.3 Midcon $2,160 - $3,020 Opportunity A 487 39% 56.7 Permian $1,700 - $2,270 Opportunity B 600 59%
Slide 13: Acquisition Strategy Leads to Dividend Accretion
13 $2.77 $2.07 $1.42 $0.00 $0.50 $1.00 $1.50 $2.00 $2.50 $3.00 $3.50 Year 3 Year 2 Year 1 Estimated Dividend No Acquisitions Illustrative Acquisitions $1.35 2 Dividend per Share ($/sh) 1 1. Represents LQA dividend on common equity as of Q4 for each respective period 2. Estimated dividend is subject
Slide 14: Peer Positioning
14 Presidio bridges the gap — royalty - like stability with operator - level control. announced subsequent transactions 1. Includes: BSM, KRP, & DMLP 2. Includes: DEC, TXO, MNR, & CRGY 3. Includes: AMPY, HPK, & SD 4. Alpha is defined as being able to effectuate operational change in this context 5.
Slide 15: SPAC Transaction Overview
15 SPAC TRANSACTION OVERVIEW CAPITAL STRUCTURE AT TRANSACTION CLOSE ($MM) Max Redemption Mid - point 2 No Redemption Redemption Scenario $301 $457 $613 Market Capitalization $39 $0 $0 RBL 3 $269 $269 $269 Investment - Grade ABS $125 $125 $125 12% Preferred Equity ($48) ($172) ($334) Total Cash 4 $68
Slide 16: Presidio's Unique Business Model
PRESIDIO’S UNIQUE BUSINESS MODEL 16
Slide 17: A Playbook Written for Acquisitions
Presidio Petroleum applies a disciplined, data - driven playbook to modernize acquired oilfield operations. Through repeatable systems and empowered field execution, the company transforms oil and gas assets into high - efficiency operations. KEY ACTIONS Streamline field organization Optimize pumper
Slide 18: Consistent and Repeatable Value Creation Framework
Consistent and repeatable framework to create value and deliver outsized returns to investors. Year 1 After Acquisition Extract value from undeveloped leasehold position via divestitures, recompletions and development partnerships with established operators; further high - grade existing assets thro
Slide 19: Labor Modernization: Lean Empowered Field
Revamping field operations through empowerment, accountability, and technology: Interview 100% of field staff using a standardized evaluation process to retain top talent Flatten field structure with asset managers, techs (super pumpers), and pumpers for faster decisions Introduce digital tools to d
Slide 20: Pump-by-Exception: Turning Data into Field Action
Old Route (27 wells) New Route (50 wells) Traditional well - visit schedules gave way to an automated, exception - based system using machine learning and real - time alerting. FEWER PUMPERS High - priority wells surfaced automatically HIGHER PRODUCTIVITY Pumpers focused only where value or risk exi
Slide 21: Compression & Artificial Lift Optimization
A c q u i s i t i o n C a s e s t u d y M o n t h 1 : R e d u c t i o n I n C o m p r e s s i o n E x p e n s e ↓ 28 % RIGHT - SIZED COMPRESSION Removed or downsized compression to match system demand REDUCED FUEL & POWER USE Installed plungers on gas - lift wells to enhance flow and lower pressures
Slide 22: Chemical Management: Standardizing for Efficiency
Presidio replaced vendor - run chemical programs with an internally managed, data - informed model. Reducing costs and improving performance consistency across the field. R E D U C T I O N I N C H E M I C A L ( 2 0 2 3 - 2 0 2 4 Y o Y ) ↓ 39 % INTERNAL CONTROL Centralized chemical management under a
Slide 23: 2025 Workover Program: Capital Discipline in Action
23 Presidio applied disciplined capital allocation and data - driven insight to pull 152 workovers out of the bullpen maximizing production uplift while minimizing spend. SMART CAPITAL Prioritized wells with the highest return potential using data - driven diagnostics MEASURABLE UPLIFT Executed in t
Slide 24: Development: Bringing Value Forward
24 DEVELOPMENT: BRINGING VALUE FORWARD Over $100MM in value realized 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 Built and executed JV frameworks where partn
Slide 25: Diligent Emission Reduction
25 837 766 629 538 383 210 202 900 800 700 600 500 400 300 200 100 0 2025E MMTCO2e R E D U C T I O N I N S C O P E 1 E M I S S I O N S ( 2 0 1 9 - 2 0 2 5 E ) ↓ 76 % Proven Sustainability Leadership Issued Moody’s - rated Sustainability - Linked Bond in 2021. UN - Endorsed Commitment Active member o
Slide 26: Technology Drives Capital Efficiency
TECHNOLOGY DRIVES CAPITAL EFFICIENCY Unified field and corporate data systems enable broad visibility into costs, uptime, and performance. DATA INTEGRATION AI models recommend lift adjustments that improve uptime and production efficiency. AI OPTIMIZATION Real - time dashboards and mobile tools empo
Slide 27: The Result
THE RESULT 27
Slide 28: Superior Returns on Capital Employed and Profitability
Superior Returns on Capital Employed and Profitability Source: Bloomberg Note: See Glossary on page 36 for additional information on Definitions and non - GAAP measures Note: Figures are as of 09/30/2024 and represent average last three years figures from each corresponding S&P500 Industry Index as
Slide 29: A Proven, Scalable Platform
Presidio’ s scalable model, disciplined operations, and integrated systems position the company as a trusted operator for long - term growth and partnership Significant existing well count with proven ability to scale Proven optimization track record Access to growth capital through public equity an
Slide 30: Appendix
APPENDIX 30
Slide 31: Transaction Summary
31 The Business Combination de - leverages Presidio and creates a strong, growth - focused platform. Transaction Summary DEAL STRUCTURE Pro Forma Equity Ownership 10 (%) EQV Ventures Shareholders Third - Party PIPE Investors Presidio Management EQVR Morgan Stanley Energy Partners Founder Shares Othe
Slide 32: Q1-Q3'25 Combined Historical Operations
32 Net Production (Mboe/d) 20.9 21.9 21.4 3.5 3.5 3.2 24.4 25.4 24.6 0.0 5.0 10.0 15.0 20.0 25.0 30.0 2025 Q1 2025 Q2 2025 Q3 Presidio EQVR LOE ($MM) $19.0 $20.2 $18.0 $2.9 $2.5 $21.9 $22.6 $2.3 $20.5 $0.0 $5.0 $10.0 $15.0 $20.0 $25.0 2025 Q1 2025 Q2 2025 Q3 Presidio EQVR Q1 - Q3'25 COMBINED HISTORI
Slide 33: Financial Summary with Illustrative Acquisitions
33 $576 $600 $744 $126 $131 $137 $148 $425 $557 $850 $1,157 Year 1 Year 2 Year 3 Enterprise Value ($MM) Common Equity Preferred Equity Net Debt * Common equity held flat at $10.00/share for all periods $1,438 Unlevered FCF 1,2 ($MM) $155 $213 $287 Year 1 Year 2 Year 3 Dividend per Share 1,3 ($/sh) N
Slide 34: Financial Summary Without Acquisitions
34 Total Production (Mboe/d) Total EBITDA (Hedged) ($MM) Unlevered FCF 1 ($MM) 24.1 22.2 82% 68% 0% 50% 100% 150% 0 10 20 30 FY - 2026E FY - 2027E Production Hedged (%) Mboe/d Oil Gas NGL $116 $110 (0.4x) (0.4x) (1.0x) 0.0x 1.0x 2.0x 3.0x 4.0x 5.0x $0 $25 $50 $75 $100 $125 $150 FY - 2026E FY - 2027E
Slide 35: Favorable Comparison to Current Public Investment Opportunities
Favorable Comparison to Current Public Investment Opportunities Presidio’s PDP strategy provides a differentiated mix of high current cash flow yield with low exposure to development risk Asset Type Presidio Operated Non - Operated Royalty Positive Attributes Full Control Visibility on Capex Less Co
Slide 36: Glossary
GLOSSARY 36 Dividend Yield: A metric that measures annual dividends received relative to the market value of the share price, calculated as the annual dividend per share divided by current share price. EBITDA: A measure of a company's profitability of the operating business only, calculated as Earni
Slide 37: Risks Related to Presidio's Business
Risk Related to Presidio's Business 37 → Presidio’s business depends on third - party transportation and processing facilities and other assets that are owned by third - parties. → The loss of a key member of Presidio’s management team, upon whose knowledge, relationships with industry participants,
Slide 38: Risks Related to Presidio's Business
Risk Related to Presidio's Business 38 → Presidio will be subject to business uncertainties and contractual restrictions while the Business Combination is pending. → EQV is, and Presidio would be after a Business Combination with EQV, an “emerging growth company” within the meaning of the Securities