AleAnna, Inc. — Second Quarter 2026 Earnings Summary

Financial Performance

• Reported net income of $3.8 million for the quarter ended June 30, 2026, compared to $0.6 million in the same period of 2025.
• Reported Adjusted EBITDA of $4.1 million for the quarter, compared to $0.8 million in the prior year period.
• Total revenues for the quarter were $10.2 million, up from $4.0 million in Q2 2025.
• Conventional segment revenue recognized was approximately $9.5 million, driven by sales from the Longanesi field.
• For the six months ended June 30, 2026, total revenues were $19.6 million compared to $4.7 million in the same period of 2025.
• Net income for the six-month period was $7.2 million, compared to a net loss of $2.7 million in the prior year period.
• Adjusted EBITDA for the six-month period was $8.4 million, compared to a loss of $2.7 million in the prior year period.
• Cash and cash equivalents closed the period at $32.6 million, up from $31.8 million as of December 31, 2025.
• Total assets were $107.3 million as of June 30, 2026, compared to $101.3 million as of December 31, 2025.
• Total liabilities were $41.4 million as of June 30, 2026, down from $42.6 million as of December 31, 2025.
• Stockholders' equity increased to $65.9 million as of June 30, 2026, from $58.7 million as of December 31, 2025.
• Net income per share of Class A Common Stock was $0.06 for the quarter, compared to $0.01 in the prior year period.

Business Segments and Product Lines

• The Longanesi field successfully commenced production in 2025 and continued to perform strongly in the first six months of 2026.
• Construction activities on the permanent production facility for the Longanesi concession continued during the first six months of 2026, transitioning from temporary to permanent infrastructure.
• Construction activities commenced at the Gradizza field development project during the second quarter of 2026.
• Gradizza is expected to become AleAnna's first wholly owned and operated production asset.
• The Company reported a 47% increase in Total Proved Reserves volumes in its year-end 2025 Third-Party Reserves Report compared to year-end 2024, adjusted for 2025 production volumes.

Management Commentary and Tone

• CEO Marco Brun stated the Company delivered strong financial results, with Adjusted EBITDA primarily driven by Longanesi field production.
• Management noted that the Longanesi field remains on track to outperform initial expectations.
• Management expressed confidence in the Company's ability to deliver sustainable long-term value due to a solid balance sheet, positive cash flow, and a growing asset base.
• Management highlighted the Company's unique position to contribute to Italy's energy security through increased domestic natural gas production.

Other Key Points

• The Company has achieved positive Adjusted EBITDA and net income for the fifth consecutive quarter.
• The Gradizza project transitioned from the planning and authorization phase into execution following the completion of key permitting and development activities.
• The Company is focused on increasing exposure to operated assets with long-term production potential.
• The permanent production facility at Longanesi is expected to improve production operations and support continued development of the core asset.