Financial Data and Key Metrics Changes - Vermilion generated $241 million of Funds From Operations in Q4 2025, with Free Cash Flow of $49 million [12] - Production averaged 121,308 BOE per day, with a 69% weighting to natural gas, marking a significant increase from Q3 [12][13] - Total proved plus probable (2P) reserves increased by 36% from the prior year, reaching 592 million BOEs [7][8] Business Line Data and Key Metrics Changes - In Canada, production benefited from a three-rig drilling program in the Deep Basin, with 17 liquids-rich gas wells brought on production [12][13] - International operations averaged 30,137 BOE per day, consistent with Q3, with new production in the Netherlands and increased gas output in Germany [13][14] - The average funding development and acquisition costs were $14.91 per BOE for proved developed producing (PDP) and $7.71 per BOE for 2P [8] Market Data and Key Metrics Changes - Realized gas pricing was $5.50 per Mcf, double the AECO benchmark, driven by direct European gas exposure where TTF prices averaged $15 per MMBtu [6] - The company has identified significant upside in European gas reserves, with a focus on domestic production in Germany and the Netherlands [10][80] Company Strategy and Development Direction - Vermilion is focused on liquids-rich gas assets in Canada and premium priced gas assets in Europe, aiming for sustainable Free Cash Flow for decades [3] - The strategic roadmap to 2030 emphasizes long-term profitability and disciplined capital allocation to generate meaningful per-share excess Free Cash Flow growth [20][21] - The company is committed to high-return projects and maintaining a strong balance sheet while returning capital to shareholders [16][21] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the operational performance and the potential for increased production and profitability, particularly in Canada and Europe [20] - The recent run-up in global gas prices is seen as advantageous for the company, providing opportunities for higher realized prices [19][20] - The company anticipates production in Q1 2026 to be in line with recent levels, with a forecast of 122,000-124,000 BOEs per day [19] Other Important Information - Vermilion's total net present value of 2P reserves discounted at 10% is estimated at $23 per basic share, significantly above the current share price [11] - The company has a disciplined approach to M&A, focusing on opportunities that align with its strategic goals [62] Q&A Session Summary Question: Free Cash Flow inflection in 2028 - Management indicated that the Free Cash Flow inflection is driven by ramp-up in Germany volumes and production increases in Montney, with updated estimates reflecting a potential 40% increase in excess Free Cash Flow [24][26] Question: Hedging strategy - The company is approximately 50% hedged on European gas for 2026 and has been active in locking in recent price increases, with potential to increase hedge percentages if opportunities arise [33] Question: Deep Basin well outperformance - Management confirmed that the positive results from the Deep Basin wells are expected to continue, with a focus on tier one locations and proof of concept wells [39][41] Question: Australian production ramp-up - Production in Australia is expected to return to normal levels by Q2 2026 following recent disruptions, with ongoing repairs and maintenance being prioritized [48][49] Question: Negative technical revisions on reserves - The negative revisions are attributed to high-grading the reserves book due to M&A activity, with a focus on replacing less profitable locations with higher quality ones [55][56] Question: M&A market outlook - Management noted that there are interesting opportunities in both Canada and Europe, with a focus on creating a more concentrated and profitable portfolio [62]

Financial Data and Key Metrics Changes - Vermilion generated $241 million of Funds From Operations in Q4 2025, with Free Cash Flow of $49 million [12][16] - Production averaged 121,308 BOE per day, with a 69% weighting to natural gas, marking a significant increase from Q3 [12][13] - Total proved plus probable (2P) reserves increased by 36% from the prior year, reaching 592 million BOEs [7][8] Business Line Data and Key Metrics Changes - In Canada, production benefited from a three-rig drilling program in the Deep Basin, with 17 liquids-rich gas wells brought on production [12][13] - International operations averaged 30,137 BOE per day, consistent with Q3, with new production in the Netherlands and increased gas output in Germany [13][15] - The Montney region saw record volumes, contributing to the overall production increase [5][12] Market Data and Key Metrics Changes - Realized gas pricing was $5.50 per Mcf, double the AECO benchmark, driven by direct European gas exposure where TTF prices averaged $15 per MMBtu [6][12] - The company expects production in Q1 2026 to be between 122,000-124,000 BOEs per day, factoring in Australian cyclone-related downtime [19][20] Company Strategy and Development Direction - Vermilion is focused on liquids-rich gas assets in Canada and premium priced gas assets in Europe, aiming for sustainable Free Cash Flow [3][20] - The strategic roadmap to 2030 emphasizes long-term profitability and meaningful per-share excess Free Cash Flow growth, even under flat commodity price environments [20][21] - The company is committed to disciplined capital allocation and returning capital to shareholders while reducing debt [16][20] Management's Comments on Operating Environment and Future Outlook - Management highlighted the importance of operational excellence and the ability to sell products at higher prices due to favorable market conditions [20] - The company remains optimistic about the long-term visibility for future production and cash flow, supported by a large resource position and operational improvements [10][20] Other Important Information - Vermilion's total funding development and acquisition costs were $14.91 per BOE for PDP and $7.71 per BOE for 2P, indicating strong capital efficiency [8] - The company has identified up to six additional drilling locations on the Bommelsen license, representing significant upside for European reserves [9][10] Q&A Session Summary Question: Free Cash Flow inflection in 2028 - Management indicated that the Free Cash Flow inflection is driven by ramp-up in Germany volumes and production increases in Montney, with updated estimates reflecting a 40% increase in excess Free Cash Flow [24][26] Question: Hedging strategy - The company is about 50% hedged on European gas for 2026 and has been active in locking in recent price increases, with potential to increase hedge percentages if opportunities arise [33][34] Question: Deep Basin well outperformance - Management confirmed that the positive results from the Deep Basin wells are expected to continue, with a focus on tier one locations and proof of concept wells [39][41] Question: Australian production ramp-up - Production in Australia is expected to return to normal levels by Q2 2026, following repairs and restoration efforts after cyclone-related downtime [47][48] Question: Negative technical revisions on reserves - Negative technical revisions were attributed to high-grading the reserves book due to M&A activity, with a focus on replacing lower profitability locations with higher quality ones [54][55] Question: M&A market outlook - Management expressed optimism about potential M&A opportunities in Canada and Europe, following recent portfolio adjustments [61] Question: Future drilling opportunities in Ireland and Croatia - No drilling activity is planned in Ireland, with a focus on optimizing existing wells, while the company is progressing potential divestments in Croatia [83][86]

Financial Data and Key Metrics Changes - Vermilion generated $241 million of Funds From Operations in Q4 2025, with Free Cash Flow of $49 million [11] - Production averaged 121,308 BOE per day, with a 69% weighting to natural gas, marking a significant increase compared to previous quarters [11][12] - Total proved plus probable (2P) reserves increased by 36% from the prior year, reaching 592 million BOEs [6][7] Business Line Data and Key Metrics Changes - In Canada, production benefited from a three-rig drilling program in the Deep Basin, resulting in 17 liquids-rich gas wells brought on production [11][12] - International operations averaged 30,137 BOE per day, consistent with Q3, with new production in the Netherlands and increased gas output in Germany [12][13] - The Osterheide well in Germany generated approximately $8 million of Free Cash Flow in Q4 alone, with production 40% higher compared to Q3 [5][12] Market Data and Key Metrics Changes - Realized gas pricing was $5.50 per Mcf, double the AECO benchmark, driven by direct European gas exposure where TTF prices averaged $15 per MMBtu [5][11] - The company has a strong exposure to European gas markets, with inventories well below five-year averages and current prices over $20 per MMBtu [19] Company Strategy and Development Direction - The company is focused on becoming a global gas producer with a long-duration asset base capable of delivering sustainable Free Cash Flow [2][3] - Vermilion's strategic roadmap to 2030 emphasizes disciplined capital allocation and long-term profitability, aiming for meaningful per-share excess Free Cash Flow growth [19][20] - The company is actively pursuing M&A opportunities to create a focused portfolio, particularly in Canada and Europe [58] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the operational performance and the ability to deliver attractive shareholder returns over the long term [15][19] - The recent run-up in global gas prices is seen as a substantial advantage for the company, reinforcing the importance of being able to sell products at higher prices [18][19] - The company expects production in Q1 2026 to be in line with recent levels, with a forecast of 122,000-124,000 BOEs per day [18] Other Important Information - The company has identified up to six additional drilling locations on the Bommelsen license, representing significant upside for European reserves [8][9] - Vermilion's tax Net Present Value of 2P reserves discounted at 10% is estimated at $23 per basic share, well above the current share price [10] Q&A Session Summary Question: Free Cash Flow inflection in 2028 - Management indicated that the Free Cash Flow inflection is driven by ramp-up in Germany volumes and production increases in Montney, with updated estimates reflecting a 40% increase in excess Free Cash Flow [22][25] Question: Hedging strategy - The company is about 50% hedged on European gas for 2026 and has been active in locking in recent price increases, with potential to increase hedge percentages if opportunities arise [30][31] Question: Deep Basin well outperformance - Management confirmed that the positive results in the Deep Basin are expected to continue, with a focus on tier one locations and a strong inventory depth [36][40] Question: Australian production ramp-up - Production in Australia is expected to return to normal levels by Q2 2026, following recent disruptions [46][47] Question: Negative technical revisions on reserves - Negative technical revisions were attributed to high-grading the reserves book due to M&A activity, with a focus on replacing locations with better profitability [52][53] Question: M&A market outlook - The company is exploring M&A opportunities, particularly following the Westbrick acquisition, and is open to potential deals in Canada and Europe [57][58]

Financial Data and Key Metrics Changes - The company reported a record high production of 82,000 gold equivalent ounces in Q4 2025, an increase of 11% compared to Q3 2025 and 23% compared to Q4 2024 [5] - Annual production reached 280,000 ounces, up 9% at constant prices, with EBITDA for the quarter at $208 million and annual EBITDA at $548 million [7][46] - The adjusted net income for the quarter was $73 million, while the company reported a net loss of $20 million due to non-cash losses related to gold derivatives [11][47] Business Line Data and Key Metrics Changes - Borborema was highlighted as a top performer with an EBITDA contribution of approximately $50 million in its first quarter of commercial production [49] - Other mines such as Minosa and Araçá also performed well, contributing $48 million and $41 million to EBITDA respectively [50] - The acquisition of MSG generated $10 million in EBITDA in just one month, indicating strong potential returns from this investment [50] Market Data and Key Metrics Changes - The company experienced a significant increase in daily trading volume, moving from $1 million-$2 million to $100 million per day after listing on NASDAQ [14][44] - The average gold price for Q4 was approximately $4,000 per ounce, contributing to the substantial increase in revenues [46] Company Strategy and Development Direction - The company aims to increase production through greenfield projects, enhance resources and reserves, and pursue mergers and acquisitions while maintaining significant dividends for shareholders [4][14] - The strategy includes expanding the capacity of existing operations, such as increasing Almas' plant capacity to 3 million tons and preparing for potential future expansions [12][29] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving over 600,000 ounces of production in the coming years, despite some short-term production impacts due to lower grades from updated cutoffs [60][76] - The company is focused on long-term value creation, even if it means sacrificing short-term production levels [76] Other Important Information - The company is updating its resource and reserves based on higher gold prices, which will be published in the upcoming 20-F report [13][31] - The company has maintained a low net debt over EBITDA ratio, below 0.3 times, allowing for continued dividend payments despite acquisitions [48] Q&A Session Summary Question: Guidance and Production Expectations - Inquiry about the implications of guidance for 2026, considering upcoming technical report updates and processing capacity expansions [58] Response - Management confirmed that the budget for 2026 incorporates new gold prices and lower cutoffs, which may affect production but will ultimately increase reserves [60] Question: Expansion and Road Relocation - Questions regarding the timeline for the physical relocation of the road and the expected incremental processing capacity [75] Response - Management indicated that the road relocation would take approximately two years, coinciding with the plant expansion [77] Question: Reserves Report and Geological Interpretation - Inquiry about key shifts in the reserves report and geological interpretations [84] Response - Management stated that the new reserves report will be published by the end of March, with ongoing underground development and exploration efforts [89] Question: Capital Allocation and M&A Opportunities - Questions regarding capital allocation priorities and potential acquisitions in Brazil and Latin America [86] Response - Management highlighted the company's strong cash flow and EBITDA growth, indicating room for further acquisitions while maintaining a low leverage position [90]

⚡️HUGE: CHAINLINK RESERVES SURPASSES 2.17M $LINK TOKENS, WORTH OVER $18M@Chainlink Reserve has crossed the 2.17 million $LINK threshold, valued at over $18 million, following yesterday's addition of 136,898 tokens, in line with a continued accumulation pattern.Notable accumulation milestones include:- December 11, 2025: 84,309 $LINK- January 8, 2026: 87,829.55 $LINK- February 5, 2026: 125,454.48 $LINK- February 19, 2026: 136,898.30 $LINK inflow, bringing total holdings to 2,172,261.86 $LINK ...

Profitable Production Growth Creating Long-Term Value FEBRUARY | 2026 Birchcliff's 100% owned and operated Pouce Coupe Gas Plant Corporate Presentation This presentation contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. For further information regarding the forward-looking statements and forward-looking information contained herein, see "Advisories – Forward-Looking Statements". With respect to the disclosure of Birchcliff's production cont ...

Tether Q4 2025: USDT market cap hit $187.3B, marking the 8th straight quarter of 30M+ user growth. Reserves rose to $192.9B (including 96,184 BTC, 127.5 tons of gold, $141.6B U.S. Treasuries). Despite the Oct. 2025 liquidation shock, USDT still grew 3.5%, while the #2 and #3 stablecoins fell 2.6% and 57%. Q4 on-chain transfers reached $4.4T, a record.https://t.co/gDtZLLjbF9 ...

🔥 JUST IN: Tether reports USD₮ hit a $187B market cap and record user and transfer highs in Q4 2025, with reserves rising to $193B despite a broader crypto market slowdown. https://t.co/tnAndhNHik ...

RT CryptoQuant.com (@cryptoquant_com)FUD vs Reality: Binance shows no signs of stress.Reserves hold near 659K BTC, netflows remain normal, and reserve movement sits at just 0.6%, nowhere close to the -12% panic withdrawals seen post-FTX. https://t.co/IAsnUudIDv ...

Group 1 - The article discusses the importance of hedging in managing financial risks and maintaining liquidity in the market [1][2] - It highlights the current prices of certain assets, with BB at $5.00 and BR at $5.20, indicating a slight price difference that may affect trading strategies [1][2] - The focus is on the strategies companies can employ to safeguard their reserves and mitigate risks associated with market fluctuations [1][2]