Funding Closed and Farmout Agreement September 2025 CFO David M. Smith General Counsel Eon Resources Inc. NYSE-AM:EONR https://www.EON-R.com/ NYSEAM:EONR NYSEAM:EONR Presenters Dante V. Caravaggio CEO Mitchell B. Trotter Jesse J. Allen VP of Operations 2 NYSEAM:EONR Company Overview Leasehold Acres ~ 20,000 acres (two fields) Grayburg-Jackson Oil Field (Eddy County) & South Justis Field (Lea County) Fields Wells (Producing + Injection) ~ 750 wells across both fields Current Oil Production Over 1,000 barrels ...

Core Insights - EON Resources Inc. is an independent upstream energy company operating in the Permian Basin with significant leasehold acreage and production capacity [1] Company Overview - The company holds 20,000 leasehold acres in the Permian Basin [1] - EON has a total of 750 producing and injection wells [1] - The current production rate exceeds 1,000 barrels of oil per day [1]

Core Insights - EON Resources Inc. is an independent upstream energy company operating in the Permian Basin with significant leasehold acreage and production capacity [1] Company Overview - The company holds 20,000 leasehold acres in the Permian Basin [1] - EON has a total of 750 producing and injection wells [1] - The current production rate exceeds 1,000 barrels of oil per day [1]

Core Insights - EON Resources Inc. is an independent upstream energy company operating in the Permian Basin with significant leasehold acreage and production capacity [1] Company Overview - The company holds 20,000 leasehold acres in the Permian Basin [1] - EON has a total of 750 producing and injection wells [1] - The current production rate exceeds 1,000 barrels of oil per day [1]

Core Insights - EON Resources Inc. is an independent upstream energy company operating in the Permian Basin with significant leasehold acreage and production capacity [1] Company Overview - The company holds 20,000 leasehold acres in the Permian Basin [1] - EON has a total of 750 producing and injection wells [1] - The current production rate exceeds 1,000 barrels of oil per day [1]

Core Viewpoint - EON Resources Inc. is positioned as an independent upstream energy company with significant operations in the Permian Basin, highlighting its production capabilities and leasehold assets [1] Company Overview - EON Resources Inc. holds 20,000 leasehold acres in the Permian Basin [1] - The company operates a total of 750 producing and injection wells [1] - EON Resources is currently producing over 1,000 barrels of oil per day [1]

Core Insights - EON Resources Inc. is an independent upstream energy company operating in the Permian Basin with significant leasehold acreage and production capacity [1] Company Overview - The company holds 20,000 leasehold acres in the Permian Basin [1] - EON has a total of 750 producing and injection wells [1] - The current production rate exceeds 1,000 barrels of oil per day [1]

Financial Data and Key Metrics Changes - The average price of oil dropped from $70 to $61 per barrel, but hedging mitigated this drop, keeping overall revenues flat [17][18] - Revenues remained level as hedging efforts offset a temporary dip in production [16] - Interest expense decreased by $230,000 per quarter compared to 2024, reflecting ongoing balance sheet improvements [17][20] Business Line Data and Key Metrics Changes - Production at the Grayburg Jackson field increased from approximately 800 barrels per day to about 920 barrels per day, with a goal to reach 1,400 to 1,500 barrels per day by year-end [12][30] - The South Justice field's production rose from 88 barrels per day at acquisition to 117 barrels per day after reactivating idle wells [36][37] Market Data and Key Metrics Changes - The company is targeting funding between $40 million and $50 million to support operations and reduce debt [8][27] - The company anticipates being cash flow positive in Q4 2025, with a significant increase in cash flow expected from debt reduction [13][14] Company Strategy and Development Direction - The company is focused on increasing production through horizontal drilling, with plans to kick off a drilling program in late Q1 2026 [35][62] - Management aims to retire senior debt and seller obligations, which will significantly enhance cash flow [13][27] - The company is exploring overriding royalty interest (ORE) as a financing strategy to avoid dilution of shares and reduce financial risk [58][60] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about transitioning from a struggling company to a more successful entity, with significant potential for growth in 2026 [40][84] - The management team is confident in their ability to navigate the current oil market, despite potential price fluctuations [47][48] Other Important Information - The company has made significant progress in reducing general and administrative costs, with ongoing efforts to further decrease expenses [19][73] - The company has successfully reduced senior debt from $28 million to approximately $21 million [20] Q&A Session Summary Question: What are the expectations for oil prices going into winter? - Management indicated that oil prices may remain in the $60 range, with geopolitical factors influencing market conditions [46][48] Question: Will Chevron be purchasing the oil produced from new wells? - Management confirmed Chevron's interest in purchasing increased production, indicating a positive relationship with the buyer [52] Question: How important are the four rigs on both properties for the next two quarters? - Management emphasized the critical role of the rigs in boosting production, with plans to optimize their use across fields [69][70] Question: Is there a plan to reduce legal consulting expenses? - Management acknowledged ongoing discussions to reduce costs and improve efficiency in legal and consulting services [72][73] Question: What is the expected impact of horizontal drilling on production? - Management explained that horizontal drilling could significantly increase production rates, potentially yielding 400 to 600 barrels per day per well [63][64]

Financial Performance & Outlook - EON Resources anticipates reaching breakeven by the end of 2025[3] - Revenues increased from $3,283,099 in Q1 2024 to $4,583,148 in Q2 2025[5] - Lease operating expenses decreased from an average of $718,000 per month in 2024 to $665,000 per month in Q1 and Q2 2025[5,6] - Salaries and fees decreased by over $300,000 per quarter starting in Q1 2025[11] Operations & Production - Oil production experienced a temporary dip, but has recovered to 920 BOPD[17] - South Justis Field production increased from an initial rate of 88 BOPD to 117 BOPD after acquisition in June 2025[18] - 27 wells returned to production, resulting in an estimated increase of 60 BOPD[17] - The company plans to return an additional 40 idle/inactive wells to production[17] Debt & Equity Structure - Convertible Notes balance decreased from an original $9.8 million to $5.6 million[14] - The company is planning volumetric funding of $41 to $53 million to discharge a $20.5 million settlement with the Seller and retire $18.5 million in senior debt[16] - There are 34 million common stock shares outstanding[15]

[Form 8-K Current Report](index=1&type=section&id=Form%208-K%20Current%20Report) This report details the Form 8-K filing for EON Resources Inc., covering company information, preliminary Q2 2025 financial results, exhibits, and official signature [Report Overview and Company Information](index=1&type=section&id=Report%20Overview%20and%20Company%20Information) This section provides basic information about the Form 8-K filing for EON Resources Inc., dated July 24, 2025, including company details, stock trading symbols, and emerging growth company status - EON Resources Inc., a Delaware corporation, filed this Current Report on Form 8-K on July 24, 2025[1](index=1&type=chunk) - The company is identified as an emerging growth company[4](index=4&type=chunk) Securities Registered Pursuant to Section 12(b) of the Act | Title of each class | Trading symbol | Name of each exchange on which registered | | :--- | :--- | :--- | | Class A Common Stock, par value $0.0001 per share | EONR | NYSE American | | Redeemable warrants, exercisable for three quarters of one share of Class A Common Stock at an exercise price of $11.50 per share | EONR WS | NYSE American | [Item 2.02 Results of Operations and Financial Conditions](index=2&type=section&id=Item%202.02%20Results%20of%20Operations%20and%20Financial%20Conditions) The company announced its preliminary financial results for the second quarter of 2025 through a press release issued on July 24, 2025, furnished as Exhibit 99.1 - On July 24, 2025, EON Resources Inc. issued a press release providing preliminary financial results for the second quarter of 2025[5](index=5&type=chunk) - The information in the press release (Exhibit 99.1) is being "furnished" and not "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, meaning it has reduced legal liability under that section[6](index=6&type=chunk) [Item 9.01 Financial Statements and Exhibits](index=2&type=section&id=Item%209.01%20Financial%20Statements%20and%20Exhibits) This section lists the exhibits filed with the Form 8-K, primarily identifying the press release containing the preliminary Q2 2025 financial results as Exhibit 99.1 Exhibits Filed | Exhibit Number | Description | | :--- | :--- | | 99.1 | Press Release of EON Resources, Inc. issued on July 24, 2025 | | 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | [Signature](index=3&type=section&id=Signature) The report is duly signed and authorized by Mitchell B. Trotter, the Chief Financial Officer of EON Resources Inc., on July 24, 2025 - The report was signed on behalf of EON Resources Inc. by Mitchell B. Trotter, its Chief Financial Officer, on July 24, 2025[10](index=10&type=chunk)