Kelt Exploration (KEL) Corporate presentation summary

Strategic focus and value creation

• Emphasizes long-term shareholder value through low-cost land accumulation in resource plays with high return potential and rapid drilling inventory growth.

• Management and board have significant equity ownership, aligning interests with shareholders.

• History of value creation via timely asset monetizations, including major sales in 2013, 2017, and 2020.

• Holds a large, focused resource base in the Montney and Charlie Lake fairways, totaling over 450,000 acres.

• Achieved a 1.7x recycle ratio on a proved plus probable reserve basis since inception.

Operational overview and asset base

• Operates in key divisions: Oak/Flatrock (Montney liquids-rich gas), Pouce Coupe/Progress (Montney light oil/gas), Wembley/Pipestone (Montney light oil/condensate-rich gas), and Grande Cache (Cretaceous gas).

• Montney rights cover 359,000 acres; Charlie Lake rights cover 93,000 acres.

• Extensive infrastructure and gas processing agreements enable doubling of raw gas processing capacity by 2030.

• Diversified gas sales across multiple hubs to reduce market risk, with significant exposure to AECO, Dawn, Station 2, and international LNG hubs.

Financial performance and capital structure

• Market capitalization of $2.0 billion as of August 2026, with 203 million common shares outstanding.

• Directors and officers own 18% of shares (20% on a diluted basis).

• Strong insider commitment with $150.9 million in insider purchases since 2013.

• Net asset value per share at December 31, 2025, is $15.62, based on proved plus probable reserves and undeveloped land.