Financial Data and Key Metrics Changes - FY 2025 marked a record year for the company with production of 26.6 petajoules equivalent, up 17% from FY 2024 [6] - Record revenue of $268 million, a 22% increase compared to FY 2024 [6] - Underlying EBITDAX reached $173.9 million, up 36% year-over-year, with a margin of 65% [6][27] - Adjusted cash from operations was CAD 160.5 million, a 40% increase from FY 2024 [6][30] - Unit production costs decreased by 10% to $2.33 per gigajoule [6][29] Business Line Data and Key Metrics Changes - Average annual group production rate was 73 terajoules equivalent per day, exceeding targets [2][28] - The East Coast supply project (ECSP) is on track to bring gas online as early as 2028 [4] - Average processing rate at the August plant was 62 terajoules per day, a 25% increase from FY 2024 [10] - The Athena gas plant's average processing rate was 9.4 terajoules per day, with significant reliability improvements [13] Market Data and Key Metrics Changes - Average realized gas prices increased to approximately $10 per gigajoule, a 12% rise compared to FY 2024 [4] - Over 30% of Orbost volumes were sold into spot markets, up 15% from the previous year [36] - The Sydney spot market often trades at a premium to the Victorian market, contributing to higher realized prices [37] Company Strategy and Development Direction - The company is focused on transformational growth through the ECSP, targeting to backfill the Athena gas plant with up to 90 terajoules a day by 2028 [41] - Continuous improvement programs have identified over 70 initiatives aimed at cost reductions and efficiency [5][16] - The company aims to maximize asset utilization and increase production capacity while maintaining reliability [52] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continued profitability improvements due to strong gas market conditions and operational efficiencies [7][8] - The company is well-positioned to benefit from the growing energy demand and volatility in the National Electricity Market (NEM) [38] - Future cash flows are expected to increase, providing financial flexibility for growth and debt repayment [35] Other Important Information - The company maintained a strong safety performance with a total recordable injury frequency rate of 3.36 injuries per million hours worked, below industry benchmarks [9] - The company achieved carbon neutral certification for its operations, demonstrating commitment to environmental excellence [10] Q&A Session Summary Question: Guidance for FY 2026 and production rates from Orbost - Management clarified that the guidance reflects historical performance and does not include debottlenecking work [56][60] Question: Critical path to first supply from ECSP by 2028 - Management indicated that securing gas sales agreements and contracting services for subsea tie-ins are critical steps [65][66] Question: Impact of Woodside's entry into the Gippsland Basin - Management noted potential opportunities for collaboration and growth in domestic gas supply [68]

Core Viewpoint - Vermilion Energy Inc. has announced a cash dividend of $0.13 CDN per common share, payable on October 15, 2025, to shareholders of record on September 29, 2025 [1] Group 1: Company Overview - Vermilion Energy Inc. is a global gas producer focused on creating value through the acquisition, exploration, and development of liquids-rich natural gas in Canada and conventional natural gas in Europe [2] - The company aims to optimize low-decline oil assets, which contributes to a diversified portfolio that generates significant free cash flow [2] Group 2: Corporate Priorities - The company's priorities are health and safety, environmental protection, and profitability, in that order [3] - Vermilion emphasizes the importance of public safety and environmental protection, alongside strategic community investment in its operating areas [3]

Financial Data and Key Metrics Changes - The company achieved record production, spot gas sales, and revenue for the June quarter, with group production averaging 77 terajoules per day, exceeding the target of 70 terajoules per day set a year ago [3][18] - For FY '25, total sales revenue reached $267.7 million, a 22% increase from FY '24, with quarterly revenue hitting a record of £70.7 million, up 12% from the previous quarter [4][5] - Net debt decreased to $242.8 million, over $35 million below its peak, despite investments in the East Coast supply project [5][18] Business Line Data and Key Metrics Changes - Production from the August field averaged 67.1 terajoules per day for the quarter, a 17% increase from the prior quarter, while Orbis produced an average of 62 terajoules per day for FY '25, a 25% increase from FY '24 [8][18] - Spot sales reached a new record of 2 petajoules of gas sold into spot markets, averaging 21 terajoules per day, representing about a third of average production [4] Market Data and Key Metrics Changes - The East Coast domestic gas market is in urgent need of new supply sources, with the company positioned to deliver significant new gas supply to meet the demands of over 600,000 homes [19][20] - Spot gas prices increased due to a combination of factors, including outages at power stations and seasonal demand, with the average realized gas price for FY '25 at $9.91 per gigajoule, a 12% increase over FY '24 [13][20] Company Strategy and Development Direction - The company is focused on four business priorities for FY '25, including production performance, progressing the East Coast Supply project, increasing realized gas prices, and driving cost and emission reductions [7][14] - The East Coast Supply project aims to utilize existing infrastructure to bring new gas supply to the southeast Australian market by 2028, with drilling of the first well expected to commence later this year [10][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in maintaining production near nameplate capacity and highlighted the importance of gas in ensuring energy security in Australia [4][18] - The company anticipates continued growth into FY '26, with a strong focus on optimizing production costs and debottlenecking operations [18] Other Important Information - The company has initiated a marketing campaign for the East Coast Supply Project, engaging with potential gas customers for foundation contracts [12][38] - A pilot sales agreement for sulfur produced from the Orbis gas processing plant has been established, contributing to sustainable agricultural practices while reducing waste costs [17] Q&A Session Summary Question: Regarding realized gas prices and the drop relative to the previous quarter - Management explained that the drop was due to warm weather at the start of the quarter, affecting spot prices, but noted strong pricing in June due to increased demand from power generation [23][24] Question: On the Minerva decommissioning work - Management confirmed that the capping of wells is complete, and arrangements are being made for infrastructure removal, targeting better weather windows for the work [25] Question: About the Patricia Bellem project and its commercialization - Management indicated that they are in the early stages of assessing the restart and potential gas storage opportunities, with further studies planned [26][28] Question: Update on debottlenecking activities at Orbost - Management confirmed that technical work is complete and regulatory approvals are in progress, with incremental increases in production being trialed [30][32] Question: Cost comparison of awarded contracts for the East Coast Supply project - Management stated that over 98% of contracts have been awarded within the previously announced cost range [34] Question: Engagement with gas buyers for the East Coast Supply project - Management confirmed that marketing efforts have begun, with positive sentiment from customers regarding future contracts [36][38] Question: Potential uplift in sole reserves - Management indicated that there is confidence in the potential uplift, with further details to be provided in the upcoming reserves report [42][43] Question: Progress on Athena gas plant and potential tolling - Management confirmed ongoing discussions with parties interested in utilizing the Athena gas plant for tolling [44][45] Question: Competitiveness of Patricia Bailene as a storage field - Management noted that while it's early days, existing brownfield infrastructure makes it competitive compared to other options [47][48]

Financial Data and Key Metrics Changes - The company achieved record production, spot gas sales, and revenue for Q4 FY '25, with group production averaging 77 terajoules per day in June, exceeding the target of 70 terajoules per day set a year ago [3][20] - For FY '25, total sales revenue reached $267.7 million, a 22% increase from FY '24, while quarterly revenue was £70.7 million, up 12% from the previous quarter [6][5] - Net debt decreased to $242.8 million, over $35 million below its peak, despite investments in the East Coast supply project [6][20] Business Line Data and Key Metrics Changes - Production from the August field averaged 67.1 terajoules per day for the quarter, a 17% increase from the prior quarter, while Orbis produced an average of 62 terajoules per day for FY '25, a 25% increase from FY '24 [8][10] - Spot sales reached a record of 2 petajoules, averaging 21 terajoules per day, with a third of average production now going into the spot market [4][3] - The average realized gas price for FY '25 was $9.91 per gigajoule, a 12% increase over FY '24, while the average spot gas price was $11.6 per gigajoule [14][13] Market Data and Key Metrics Changes - Spot gas prices rose and became more volatile due to increased demand for gas power generation following an outage at the Uborne Brown Coal Power Station [5] - The East Coast domestic gas market is in need of new supply sources, with the company positioned to deliver gas to meet the demands of over 600,000 homes [21][22] Company Strategy and Development Direction - The company is focused on four business priorities: production performance, progressing the East Coast Supply project, increasing realized gas prices, and driving cost and emission reductions [7][15] - The East Coast Supply project aims to bring new gas supply to the southeast Australian market by 2028, with drilling of the first well expected later this year [12][20] - Continuous improvement initiatives have resulted in improved cash flow of around $20 million in FY '25, with ongoing efforts to reduce costs and emissions [16][17] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in maintaining production near nameplate capacity and highlighted the importance of gas in ensuring energy security in Australia [3][5] - The company anticipates strong demand for gas in the coming years, particularly from 2028 onwards, and is optimistic about the gas market review focusing on streamlining regulations [22][21] - The company exited FY '25 with strong momentum and is focused on continuing growth into FY '26 [20] Other Important Information - The company is working on a pilot sales agreement for sulfur produced from the Orbis gas processing plant, contributing to sustainable agricultural practices while reducing waste costs [18][19] - Ian Davies will join the Board as Chairman-elect, succeeding John Conday, who will retire following the Annual General Meeting [23] Q&A Session Summary Question: Regarding realized gas prices and the drop relative to the previous quarter - Management explained that the drop was due to warm weather at the start of the quarter, which pushed spot prices down, but strong pricing returned in June due to increased demand from gas power generation [25][26] Question: Update on Minerva decommissioning work - Management confirmed that the capping of wells is complete, and arrangements are being made for infrastructure removal, targeting better weather windows for the work [27] Question: Potential commercialization of Patricia Bellem - Management indicated that they are in the select phase for the restart of Patricia Bellem, which involves studies and engineering to determine production rates [28][29] Question: Update on debottlenecking activities at Orbost - Management confirmed that technical work is complete and is now going through regulatory approvals, with incremental increases in production being tested [31][34] Question: Cost comparison of awarded contracts for the East Coast Supply project - Management stated that over 98% of contracts have been awarded and are within the previously announced cost range [35] Question: Engagement with gas buyers for the East Coast Supply project - Management confirmed that a marketing campaign has commenced, with positive sentiment from customers regarding future contracts [36][38] Question: Confidence in potential sole reserves uplift - Management indicated that the reserves are looking positive, with potential for additional production to be added to the reserve [42][43] Question: Progress on Athena gas plant and potential tolling - Management confirmed ongoing conversations with parties in the region to commercialize gas through the Athena gas plant [44][45] Question: Competitiveness of Patricia Bailene as a storage field - Management noted that while it's early days, existing brownfield infrastructure makes it competitive compared to other options [46][47]

Core Viewpoint - Vermilion Energy Inc. has received approval from the Toronto Stock Exchange to initiate a normal course issuer bid (NCIB) to repurchase up to 15,259,187 common shares, approximately 10% of its public float, over a twelve-month period starting July 12, 2025 [1][2]. Group 1: NCIB Details - The NCIB will allow the company to repurchase shares until July 11, 2026, with a daily purchase limit of 205,865 shares, which is 25% of the average daily trading volume of 823,460 shares over the six months ending June 30, 2025 [2]. - Vermilion plans to implement an automatic purchase plan (ASPP) with its broker to facilitate share purchases during self-imposed blackout periods, ensuring compliance with TSX regulations [3]. Group 2: Shareholder Returns - The company has a history of returning capital to shareholders, having paid over $40 per share in dividends since 2003, and plans to return 40% of excess free cash flow to shareholders in 2025 through dividends and share repurchases [4]. - Under the previous NCIB, which runs until July 11, 2025, Vermilion repurchased 5,631,463 shares at a weighted average price of $12.96 per share as of June 30, 2025 [5]. Group 3: Financial Reporting - Vermilion will release its second quarter operating and financial results on August 7, 2025, with a conference call scheduled for August 8, 2025, to discuss these results [6][7].

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Core Points - Vermilion Energy Inc. held its annual meeting of shareholders on May 7, 2025, with 77,221,704 common shares representing 50.03% of the total shares voted [1] - The meeting resulted in the approval of various resolutions, including the election of eight directors and the appointment of Deloitte LLP as auditors [2][4] Group 1: Voting Results - The resolution to fix the number of directors at eight was approved with 98.49% votes in favor [2] - The election of the eight nominees for the board received significant support, with individual votes for each nominee ranging from 94.59% to 96.06% [3] - The appointment of Deloitte LLP as auditors was approved with 97.09% votes in favor [4] Group 2: Executive Compensation and Incentive Plan - The advisory resolution on executive compensation was accepted with 94.36% votes in favor [4] - The unallocated entitlements under the Omnibus Incentive Plan were approved with 93.73% votes in favor [5] Group 3: Board Changes - Robert B. Michaleski and Timothy R. Marchant did not stand for re-election and retired from the board, with the company expressing appreciation for their contributions [5] Group 4: Company Overview - Vermilion is a global gas producer focused on creating value through acquisition, exploration, and optimization of assets in North America, Europe, and Australia [7] - The company emphasizes free cash flow generation and returning capital to investors, alongside strategic community investment [8]

Core Viewpoint - Vermilion Energy Inc. has announced a cash dividend of $0.13 CDN per common share, payable on July 15, 2025, to shareholders of record on June 30, 2025, indicating a commitment to returning capital to investors [1][2]. Group 1: Company Overview - Vermilion Energy Inc. is a global gas producer focused on creating value through the acquisition, exploration, development, and optimization of producing assets in North America, Europe, and Australia [2]. - The company's business model emphasizes free cash flow generation and returning capital to investors when economically warranted, supplemented by value-adding acquisitions [2]. - Vermilion's operations target the exploitation of light oil and liquids-rich natural gas in both conventional and unconventional resource plays in North America, as well as conventional natural gas and oil opportunities in Europe and Australia [2]. Group 2: Company Priorities - The company's priorities are health and safety, environmental protection, and profitability, in that order [3]. - Vermilion places a strong emphasis on the safety of the public and its workforce, as well as the protection of natural surroundings [3]. - The company also focuses on strategic community investment in each of its operating areas [3].

Core Viewpoint - Vermilion Energy Inc. has announced a cash dividend of $0.13 CDN per common share, payable on April 15, 2025, to shareholders of record on March 31, 2025 [1] Company Overview - Vermilion is a global gas producer focused on creating value through the acquisition, exploration, development, and optimization of producing assets in North America, Europe, and Australia [2] - The company's business model emphasizes free cash flow generation and returning capital to investors when economically warranted, supplemented by value-adding acquisitions [2] - Vermilion's operations focus on exploiting light oil and liquids-rich natural gas resources in North America, as well as exploring and developing conventional natural gas and oil opportunities in Europe and Australia [2] Corporate Priorities - The company's priorities are health and safety, environmental protection, and profitability, in that order [3] - Vermilion places a strong emphasis on the safety of the public and its workforce, as well as the protection of natural surroundings [3] - The company also emphasizes strategic community investment in each of its operating areas [3]