• Stable production performance from the Podere Maiar-1 well
• Progress made on Environmental Impact Assessment updates and development planning
• Completion of 3D geophysical survey, data processing underway

Po Valley Energy Limited (ASX: PVE) reported its Quarterly Activities for the period ending 31 March 2026, highlighting stable production performance from the Podere Maiar-1 (PM-1) well, progress on Environmental Impact Assessment (EIA) updates and development planning for key wells, and the completion of a 3D geophysical survey. The company's Podere Maiar-1 well maintained consistent production throughout the quarter, generating 7.26 million scm of gross gas and €3.1 million in gross revenue. Net production attributable to Po Valley was 4.57 million scm, resulting in €1.98 million in net revenue. The company also continued to advance development planning for the Casale Guida-1d, Ronchi-1d, Selva Malvezzi-1d, and Bagnarola-1d wells, with the EIA submission being updated to incorporate Ministry feedback. Additionally, Po Valley completed the acquisition of a 3D seismic survey across approximately 140 km² of the Selva Malvezzi concession, with data processing currently underway. The company also reported on its financial performance, noting net operating cashflow of €1,178k for the quarter and a maiden dividend payment of A$0.000431 per share from FY2025 free cashflows.

The company reported stable production and strong operating cashflows from the Podere Maiar-1 well during the March 2026 quarter, with gross gas production of 7.26 million scm and net revenue of €1.98 million.

Po Valley is well positioned to deliver near-term value through continued stable production and cashflow from the Podere Maiar-1 well, the delivery and interpretation of 3D seismic data, advancement of Selva development wells toward approval, and progress on strategic projects including Teodorico.