Infinity Natural Resources — Third Quarter 2026 Earnings Summary

Financial Performance

• Recognized realized losses of approximately $1.2 million from settled derivative contracts for the quarter ended September 30, 2026.
• Recorded non-cash mark-to-market unrealized losses of approximately $63.2 million on the outstanding derivative portfolio.
• Total derivative loss for the quarter, combining realized and unrealized amounts, was approximately $64.4 million.
• Derivative results reflect cash settlements tied to crude oil, natural gas, NGLs, and regional basis differentials.
• Preliminary financial and operating information for the third quarter 2026 is unaudited and subject to final adjustments.

Business Segments and Product Lines

• Open derivative contracts include Swaps and Collars for Oil (WTI), Natural Gas (NYMEX), Natural Gas (Fixed Basis), Natural Gas (Basis), and NGLs.
• Oil (WTI) Swaps: 3,395 MBbls total volume with a weighted average price of $63.71 (2026), $65.08 (2027), and $70.87 (2028); fair value of $(44,601) thousand as of September 30, 2026.
• Oil (WTI) Collars: 465 MBbls total volume with weighted average ceiling prices of $78.00 (2026) and $84.60 (2027); fair value of $(2,193) thousand.
• Natural Gas (NYMEX) Swaps: 144,870,000 MMBtu total volume with a weighted average price of $4.31 (2026) down to $3.56 (2030); fair value of $36,811 thousand.
• Natural Gas (Fixed Basis) Swaps: 14,668,000 MMBtu total volume with a weighted average price of $3.12 (2026) and $2.96 (2027); fair value of $9,489 thousand.
• Natural Gas (Basis) Swaps: 76,264,250 MMBtu total volume with negative weighted average prices ranging from $(0.96) to $(0.51); fair value of $(7,869) thousand.
• NGLs Swaps: 2,348 MBbls total volume with a weighted average price of $35.89 (2026) to $57.96 (2028); fair value of $(14,766) thousand.

Other Key Points

• Derivative contracts were entered into pursuant to a board-approved hedging strategy.
• Unrealized valuation changes reflect accounting remeasurement of open positions using prevailing forward commodity price curves and do not represent current-period cash inflows or outflows.
• Company operations are focused on the Utica Shale in eastern Ohio and stacked dry gas assets in the Marcellus and Utica Shales in southwestern Pennsylvania.
• Final financial results for the period will be reported in the Quarterly Report on Form 10-Q.
• Forward-looking statements cover strategy, future operations, financial position, commodity prices, production targets, leverage, hedging, capital spending, and share repurchases.
• Risks include commodity price volatility, supply chain disruptions, environmental risks, regulatory changes, and geopolitical events.