• Robust cashflow and production growth driven by Mereenie acquisition
• Material reserves replacement at Maari field
• Successful infill well drilling at Block 22/12 and Mereenie
• Transformative acquisition of Thailand production assets completed

Horizon Oil Ltd reported another strong year in FY25, with the successful integration of the Mereenie asset, material reserves growth at Maari, and the transformative acquisition of production assets in Thailand. Production volumes increased 13% to 1.615 million boe, with sales volumes 24% higher at 1.617 million boe. The Mereenie acquisition and recently drilled infill wells helped offset natural field decline across the portfolio. FY25 production revenue was US$105.3 million, 5.5% lower than the prior year due to softer realised oil prices. Cash reserves at 30 June 2025 were US$39.8 million, with net cash of US$13.7 million. EBITDAX for the year was US$54.8 million, with profit before tax of US$16.7 million. The company announced a final unfranked dividend of AUD 1.5 cents per share, bringing total dividends for the year to AUD 3.0 cents per share. Horizon also completed the acquisition of a 7.5% interest in the Sinphuhorm gas field and a 60% interest in the Nam Phong gas field in Thailand, adding over 2,100 boe/d to its production base.

FY25 production revenue of US$105.3 million, EBITDAX of US$54.8 million, and profit before tax of US$16.7 million.

Horizon remains in a strong financial position, with a robust balance sheet and strong cash flows, enabling the company to continue pursuing value-accretive growth while returning capital to shareholders.