Meren Energy Inc.

Hello, everyone. My name is Jenny and I will be your conference operator today. At this time, I'd like to welcome everyone to the Merren's fourth quarter 2025 results presentation. After the speaker's remarks, there will be a question and answer session. Please note that at any time, participants on the webcast can submit the questions using the questions button on the webcast interface. This event is being recorded and the recording will be available for playback on the company's website. I will now pass the meeting to Mr. Masana Chowdhury. Please go ahead, Mr. Chowdhury.

Hello, everyone. Thank you for joining us today for Meron's fourth quarter 2025 results presentation. I'm Nassana Chowdhury, part of the investor relations team here at Meron, and I'm joined today by Oliver Quinn, our chief executive officer, and Aldo Perracini, our chief financial officer. We'll begin today with prepared remarks and then open the floor to questions. Just before we get started, a quick reminder that today's presentation contains forward-looking statements. These reflect our current assumptions and expectations and are subject to risks and uncertainties that could cause actual results to differ materially. More detail on these risks can be found in our regulatory filings on CDAR Plus and on our website. With that, I'll now hand you over to Oliver. Oliver, please go ahead.

Thanks, Ms. Hanna, and thank you everyone for joining us today. This is my first results presentation as Merin's CEO, and I'd like to begin by thanking my predecessor, Roger Tucker, for his strategic leadership and personal support over the past few years. I'm proud to have been given the responsibility to steer the company through its next phase of growth, to lead a great team of professionals, and to continue working with our industry and government partners towards long-term value creation. Turning to slide 4 and an overview of 2025, I am pleased to report on a year of strong delivery. To begin with, last March we closed a transformational prime consolidation deal, doubling our reserves and production from our high quality and high net back assets offshore Nigeria. This was a strategic transaction as we simplified the ownership structure of our core assets, enhancing day-to-day control and creating a strong platform for further growth. Through 2025, we have successfully integrated Prime and have a lean and fit-for-purpose organization to manage our production assets, as well as progress our strong portfolio of growth opportunities. Underpinned by closing of the Prime amalgamation, we delivered strong shareholder returns with $100 million in base dividend and $8 million in share buybacks. Alongside shareholder returns, the balance sheet has been strengthened with the repayment of $420 million of the outstanding RBL facility Aldo will talk in more detail about the maintenance of a prudent leverage position and our broader approach to ensuring financial resilience through the cycle. 2025 was a year of transformation for Meron, but our focus today remains on continuing to maintain our balance sheet strength, enhancing the production profile through organic growth opportunities, and continuing to mature options to deliver long-term value to our shareholders. I'll now take you through our production performance on slide five. For 2025, we achieved working interest production of 30.8 thousand barrels of oil equivalent per day and 35.1 thousand BOEs per day on an entitlement basis, both in line with our full year guidance. During the first nine months of the year, the ACPO and Agena infill drilling campaign supported steady average production of around 32,000 BOEs per day on a working interest basis, with production lower during the fourth quarter, primarily due to planned maintenance shutdown on the Agbami field. Q4 production was also impacted by minor facility issues, including temporary shutdowns related to power supply, particularly during the second period of the quarter. These issues were actively managed through targeted operational interventions enabling the fields to continue performing in line with expectation following resolution. As previously communicated, the ACPO and Agena drilling program was paused in the third quarter to allow incorporation of positive early results from a recently acquired 4D seismic data set that will aid in the optimization of drilling locations. Due to the earlier finish of the 2025 drilling campaign, our full year capital expenditure came in at the lower end of our guidance range. In 2026, we expect to see sustained drilling campaigns on each of ACPO, Agena and Agbami commencing later in the year. I'll now hand you over to Aldo to take you through the financials.