American Equity Investment Life pany(AEL) - 2025 H2 - Earnings Call Presentation

Financial Performance - FY25 group production reached 73 TJe/d [11], a 17% increase from 62.1 TJe/d in FY24 [60] - Average realized gas prices increased by 12% to ~$10/GJ in FY25, compared to $8.83/GJ in FY24 [11, 60] - Underlying EBITDAX increased by 36% to $173.9 million in FY25, up from $127.5 million in FY24 [60] - Adjusted cash from operations increased by 40% to $160.5 million in FY25, compared to $114.8 million in FY24 [60] - Capital expenditure incurred increased significantly by 168% to $64.1 million in FY25, up from $23.9 million in FY24 [60] - Restoration payments decreased by 70% to $63.3 million in FY25, down from $207.7 million in FY24 [60] - Cash and cash equivalents increased by 335% to $62.2 million as of June 30, 2025, compared to $14.3 million as of June 30, 2024 [60] Operational Highlights - Orbost Gas Processing Plant (OGPP) achieved new production records, with reliability loss <1% [26] - Continuous improvement program realized ~$20 million of cashflow improvement in FY25 [37] - Spot sales increased to 31% of total gas sales in FY25, compared to 15% in FY24 [68] East Coast Supply Project (ECSP) - ECSP targets 358 Bcf of gross mean unrisked prospective resource across Elanora, Isabella, and Juliet [76]