• Kevin Bailey, current Board Chair, appointed as Executive Chair and CEO
• Transition comes at a pivotal time as PVE prepares for operational growth
• PVE has robust balance sheet with over $12 million in cash and generates significant free cash flow

Po Valley Energy Limited (ASX: PVE) has announced a change in its executive leadership as part of its ongoing commitment to enhance strategic execution and deliver long-term value for shareholders. The Company has appointed Mr. Kevin Bailey AM, currently serving as the Chair of the Board, to the role of Executive Chair and Chief Executive Officer (CEO) of the Company, effective immediately. This leadership transition comes at a pivotal time for PVE as the Company prepares for a period of ramped-up operational activity and growth. The Board is fully committed to supporting the Company through all stages of its development and ensuring the right leadership is in place to guide its strategic priorities. As the largest shareholder of PVE, owning 25% of the company, and as Chairman for the last 3 years, Mr. Bailey is highly aligned and motivated to fully dedicate himself to the success of PVE in this new role as CEO. PVE has a robust balance sheet with over $12 million in cash and the company is generating significant free cash flow each month, positioning it well to potentially quadruple its natural gas production in Italy following the successful permitting of its next set of wells in the Selva Malvezzi Production Concession in the Emilia Romagna Region of Italy.

With a robust balance sheet and significant free cash flow, PVE is well positioned to potentially quadruple its natural gas production in Italy following the successful permitting of its next set of wells in the Selva Malvezzi Production Concession.