Carbon Energy Corporation · OTC:CRBO
Carbon Energy — Shareholder Meeting (June 2025)
18 slides from Carbon Energy's shareholder meeting presentation, Jun 12, 2025
Slide 1: Carbon Energy Corporation Annual Meeting Presentation
Carbon Energy Corporation Annual Meeting Presentation June 12, 2025 1
Slide 2: Important Disclosures
IMPORTANT DISCLOSURES Forward-Looking Statements The slides contain certain information that predicts, projects, or uses future events as expectations or possibilities (each, a “forward-looking statement”). Except for historical information, statements made in the slide presentation, including those
Slide 3: Carbon Energy Corporation and Carbon California Company LLC
Carbon Energy Corporation Carbon California Company LLC 3
Slide 4: Carbon Energy Financial Summary
Carbon Energy Financial Summary Consolidated results of Carbon Energy include Carbon California Year Ended December 31, 2024 (in thousands, except production and per unit data) (unaudited) Revenue: Total Revenue $ 29,957 Expenses: Total Expenses $ 26,179 Operating income $ 3,778 Other income and (ex
Slide 5: Carbon Energy Financial Summary
Carbon Energy Financial Summary Total Assets $2,482,000 (1) Debt $0 Outstanding Common Shares 2,089,739 (1) $2,447,000 Restricted Cash Escrow December 31, 2024 5
Slide 6: Carbon California Credit Facilities
Carbon California Credit Facilities ➢ Carbon California Company, LLC ($000) • Senior Credit Facility $29,139 • Subordinated Debt $20,254 ➢ Debt is non-recourse to Carbon Energy Corporation ➢ Senior Credit Facility Maturity 12/31/25 • Extension discussions underway December 31, 2024 6
Slide 7: California Oil and Gas Basins
California Oil and Gas Basins Petrolia Sacramento Sacramento Basin San Francisco San Joaquin Basin Santa Cruz Salinas Basin Bakersfield Santa Maria Basin Ventura Ventura Basin Los Angeles Basin Los Angeles _______________________________ San Diego 7 7
Slide 8: Ventura Basin Field Development
Ventura Basin Field Development Ventura County oa Carbon California Operated Fields a Fields Operated By Others Meiners Cb Timber os: - ak Ve re eS Fillmore § sm: < ° South min ; San Miguelito Bardsdale / Shi Canyon, Santa Paula incon entura i West Mtn e Saticoy : e West Montalvo & ake ® © Santa Cla
Slide 9: California Growth Strategy Asset Development
Carbon California Growth Strategy Asset Development Ventura Basin, California ➢ The Ventura Basin of California is an oil and gas producing area of light oil, low operating cost producing properties. ➢ Carbon is engaged in field development projects in the Ojai Field, Sespe Field, and Timber Canyon
Slide 10: California Growth Strategy Asset Development
Carbon California Growth Strategy Asset Development ➢ Health, Safety and Environmental best practices and compliance ➢ Build value assets through acreage position • 17,071 gross acres / 16, 774 net acres • Lease operating expense reductions • 7,725 net acres mineral fee • Gathering and infrastructur
Slide 11: Carbon California Company LLC
Carbon Energy Corporation Carbon California Company LLC Million Barrels PV10% of Oil Equivalent $million Proved Reserves 16 $82% Oil 155& NLG Proved Developed Reserves 15 $ 152 Proved Undeveloped Reserves 1 $ 3 Oil (barrels of oil per day) 960 Natural Gas (mcf of gas per day) 1,190 Natural Gas Liqui
Slide 12: Carbon California Company Cambio Verde Energy Microgrid Projects
Carbon California Company Cambio Verde Energy Microgrid Projects
Slide 13: Power Generation Opportunity
Power Generation Opportunity Microgrid Power Generation Projects Create Natural Gas Optionality Generate Generate Generate Process / Sell Power / Power / Power / Sell Gas Offset Field Direct End to Utility Electricity User 13
Slide 14: Power Generation Opportunity
Power Generation Opportunity Reduce or Eliminate Inefficient Natural Gas Processes Electricity Lifecycle / Increase Economic Efficiency Utility Power Purchase Wellhead Gas Gas Utility Produced CO2 Treatment Utility and Processing Generation Transmission Distribution Onsite Power Utilized - Reduce C0
Slide 15: Power Generation Opportunity
Power Generation Opportunity ➢ Install microgrid facilities at Carbon California natural gas supply locations ➢ Natural gas supply provided by Carbon California ➢ Power provided to field facilities ➢ Power provided to local power users ➢ Complimentary battery and solar redundancy ➢ Multi-year contra
Slide 16: Power Generation Opportunity
Power Generation Opportunity ➢ A Carbon California sponsored Microgrid Power Generation Project with Thomas Aquinas College has been operational since November 2023 • Gas fired microturbine generation facility • 1 MW generation capacity • Tesla battery backup (646kW) • Solar installation in progress
Slide 17: Meeting Open to Shareholder Questions
Carbon Energy Corporation Meeting Open to Shareholder Questions 17
Slide 18: Tesla Battery Capstone
Tesla Battery Capstone Microturbine 200 Union Blvd, Suite 200 Lakewood, CO 80228 270 Quail Ct, Suite B Santa Paula, CA 93060 www.carbonenergycorp.com