• Payment of final FY25 Dividend > Cumulative distributions paid over the past 5 years are now more than A$250 million
• Maari Ten-Year Permit Extension Granted > The Maari Joint Venture received approval for a ten-year extension of the PMP 38160 permit
• Robust cashflow and production growth driven by Thailand acquisition

Highlights for the quarter include the payment of the final FY25 dividend, taking the cumulative distributions paid over the past 5 years to more than A$250 million, and the Maari Joint Venture receiving approval for a ten-year extension of the PMP 38160 permit, extending its term to 2037. The company also saw robust cashflow and production growth, driven by the inclusion of two months of production from the recently completed Thailand acquisition. Production and sales volumes increased by 37% and 28% respectively, with production revenue up 19.2% to US$26.7 million. Net operating cash flow increased 21.9% to US$17.0 million, and the company maintained a modest net debt position of US$2.0 million. The acquisition of the Thailand assets, which include a 7.5% interest in the Sinphuhorm gas field and a 60% interest in the Nam Phong gas field, resulted in a 3.9 MMboe increase in Horizon's net 2P reserves and a material increase in net average daily production. The integration of the Thailand assets has been rapid and seamless, and the company is forecasting payback from the investment within 24 months. Horizon remains in a strong financial position and is focused on carefully investing in its asset base while prioritizing returns to shareholders.

Subject to commodity prices, Horizon is forecasting payback from its investment in the Thailand assets within 24 months.