i3 Energy PLC Announces Partial Sale of the Company's Royalty Assets - Seite 2

The Royalty Disposition, involving most of the Company's royalty assets, but not its core Simonette Royalty, provides substantial capital and will allow i3 to accelerate value associated with its extensive inventory of high-return drilling locations, while jointly pursuing accretive inorganic growth initiatives.

The Royalty Disposition is comprised of i3 fee royalties, i3 gross overriding royalties, along with certain newly created royalties on a minor subset of previously unburdened lands, and is expected to average 388 boe/d in 2024, while delivering USD 3.61 million in royalty income based on strip pricing (as at 3 April 2024).

The Company now has a fully undrawn USD 55.56 million (CAD 75 million) senior secured revolving credit facility with a Canadian chartered bank and will remain disciplined with its conservative approach to debt management as it looks to balance stable, predictable, growth, along with its ongoing dividend programme. The Company now looks forward to updating the market later this month with its capital programme for 2024.

Norton Rose Fulbright Canada acted as legal counsel to i3 in relation to the Royalty Disposition.

Unless otherwise denoted, all figures are referenced in USD ($) and assume a foreign exchange rate of 1.35 CAD:USD

Production numbers reflect the Company's 2024 average

Production numbers reflect the Company's December 2023 average

Non-IFRS measure, refer to ‘Non-IFRS Financial Measures'

Enquiries:

i3 Energy plc Majid Shafiq (CEO)	c/o Camarco Tel: [phone]
WH Ireland Limited (Nomad and Joint Broker) James Joyce,Darshan Patel, Isaac Hooper	Tel: [phone]
Tennyson Securities (Joint Broker) Peter Krens	Tel: [phone]
Stifel Nicolaus Europe Limited (Joint Broker) Ashton Clanfield, Callum Stewart	Tel: [phone]
Camarco