• Delivered strong cash flow, earnings and dividends in 2024/25
• Completed transformational acquisition of Thailand assets
• Outlook shows diversified, resilient production base to 2030 and beyond
• Focused on growth projects, cash flow and shareholder distributions

Horizon Oil Ltd's 2025 Annual General Meeting featured the Chairman's address and the CEO's presentation, providing an overview of the company's performance, strategy, and outlook. The Chairman highlighted Horizon's strong cash flow, earnings, and dividend payments in the 2024/25 financial year, noting the company's unique position to provide material distributions to shareholders while also funding value-adding investments. The company's consistent strategy, focused on maximizing production and cash flow, has delivered industry-leading returns, outperforming the ASX 200 index over the past five years. The recent acquisition of the Thailand assets was a key milestone, adding significant reserves, production, and cash flow to the portfolio. The CEO's presentation provided detailed updates on Horizon's asset portfolio, including the foundation assets of Maari and Block 22/12, the recent additions of Mereenie in Australia and the Thailand assets, and the company's plans for growth projects and continued focus on cash flow generation and shareholder distributions. The outlook shows a diversified, resilient production base extending to 2030 and beyond, supported by low operating costs and visible growth opportunities. The company remains committed to its strategy of delivering strong cash returns to shareholders while also investing in production growth and selective acquisitions.

Horizon expects to sustain production of over 6,500 barrels of oil equivalent per day for at least the next 3 years, with further organic growth opportunities to extend this outlook. The company remains focused on delivering consistent shareholder distributions.

Horizon's priorities for the next 12 months include delivering growth projects across the portfolio, particularly in China and Thailand, continuing to strengthen cash flow and preserve capital discipline, and maintaining its commitment to shareholder distributions as a core pillar of value delivery. The company's diversified, resilient production base and low-cost operations make it a compelling investment proposition.