• Steady gas production from PM-1 well, generating strong operating cashflows
• Completed 3D geophysical survey over Selva Malvezzi concession on time and under budget
• Advancing development plans for Casale Guida-1d, Ronchi-1d, Bagnarola-1d, and Selva Malvezzi-1d

Po Valley Energy reported its quarterly activities for the period ending 31 December 2025, highlighting consistent production from the Podere Maiar-1 (PM-1) well in the Selva Malvezzi Production Concession. The company recorded gross production of 6.97 million standard cubic meters (scm) for the quarter, with net production to Po Valley of 4.39 million scm. This steady production supported strong operating cashflows, with net operating cashflow for the quarter at €859k. Expenditure for the quarter, including the 3D geophysical survey and progression of work programs on the Selva prospects, was €860k (net to Po Valley). The company also invested €6 million of its cash reserves into short-term Italian government bonds as part of treasury management activities. Po Valley completed the 3D geophysical data acquisition over the Selva Malvezzi concession area, covering approximately 140 km2. The data acquisition was completed on time and under budget, and will be used to support future field development planning and potential resource upgrades at Selva Malvezzi. The company is also advancing the development plans for the Casale Guida-1d, Ronchi-1d, Bagnarola-1d, and Selva Malvezzi-1d wells within the Selva Malvezzi concession, with the Environmental Impact Assessment (EIA) currently under review to incorporate recommendations from the Ministry.

Po Valley Energy remains focused on disciplined execution and capital management, with consistent production from the PM-1 well driving strong operating cashflows. The company is also progressing the development of new wells within the Selva Malvezzi concession, supported by the recently completed 3D geophysical survey.