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Toronto, Ontario--(Newsfile Corp. - March 18, 2026) - Tsodilo Resources Limited (TSXV: TSD) (OTCQB: TSDRF) (FSE: TZO) ("Tsodilo" or the "Company") is pleased to announce the closing of a non-brokered private placement financing (the "Financing") for gross proceeds to the Company of C$900,000 on March 18, 2026, through the issuance of 4,500,000 units of securities of the Company (the "Units") at a subscription price of C$0.20 per Unit.

Each Unit is comprised of one common share in the capital of the Company ("Common Share") and one Common Share purchase warrant ("Warrant") of the Company. Each Warrant entitles the holder thereof to purchase one Common Share for a period of 5 years from the date of issuance at an exercise price of USD$0.20. The Common Shares (including the Common Shares underlying the Warrants) and the Warrants comprising the Units are subject to a statutory four month and one day hold period, which expires on July 19, 2026.

In the event that the closing price of the Company's Common Shares on the TSX Venture Exchange is the equivalent of USD $0.35 or greater per Common Share during any 10 consecutive trading day period at any time subsequent to four months and one day after the closing date, the Warrants will expire at 4:00 p.m. (Toronto time) on the thirtieth day after the date on which the Issuer provides notice of such accelerated expiry to the warrantholders, and the warrantholders will have no further rights to acquire any Warrant Shares of the Issuer under the Warrant.

The proceeds from this Financing will be used for the advancement of the Critical Minerals and Rare Earth Elements project, the Xaudum Iron Formation project, and for general corporate purposes and working capital.

About Tsodilo Resources Limited
Tsodilo Resources Limited is an international resource exploration company engaged in the search for economic metal deposits at its Gcwihaba Resources (Pty) Limited ("Gcwihaba") projects in Botswana. The Company has a 100% stake in its Gcwihaba project area consisting of five metal (base, precious, platinum group, and rare earth elements) prospecting licenses all located in the North-West district of Botswana.

FOR FURTHER INFORMATION PLEASE CONTACT:

This press release may contain forward-looking statements. All statements, other than statements of historical fact, which address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements pertaining to the use of proceeds, the impact of strategic partnerships and statements that describe the Company's future plans, objectives or goals) are forward-looking statements. These forward-looking statements reflect the current expectations or beliefs of the Company based on information currently available to the Company. Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward- looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things, changes in equity markets, changes in general economic conditions, market volatility, political developments in Botswana and surrounding countries, changes to regulations affecting the Company's activities, uncertainties relating to the availability and costs of financing needed in the future, exploration and development risks, the uncertainties involved in interpreting exploration results and the other risks involved in the mineral exploration business. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events, or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not a guarantee of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.

Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements and, even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things, uncertainties relating to availability and cost of funds, timing and content of work programs, results of exploration activities, interpretation of drilling results and other geological data, risks relating to variations in the diamond grade and kimberlite lithologies; variations in rates of recovery and breakage; estimates of grade and quality of diamonds, variations in diamond valuations and future diamond prices; the state of world diamond markets, reliability of mineral property titles, changes to regulations affecting the Company's activities, delays in obtaining or failure to obtain required project approvals, operational and infrastructure risk and other risks involved in the diamond exploration and development business. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events, or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not a guarantee of future performance and accordingly undue reliance should not be put on such statements due to their inherent uncertainty. Neither the TSX Venture Exchange ("TSXV") nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release. This news release may contain assumptions, estimates, and other forward-looking statements regarding future events. Such forward-looking statements involve inherent risks and uncertainties and are subject to factors, many of which are beyond the Company's control, which may cause actual results or performance to differ materially from those currently anticipated in such statements.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/288855

Source: Tsodilo Resources Limited

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Special Meeting of Shareholders to Approve Colombian E&P Divestiture to Parex on April 30, 2026

Recorded Fourth-Quarter Net Loss from Continuing Operations of $663 Million, Including Non‑Cash Impairment Related to the Divestment of the Colombian E&P Assets Portfolio ($603 million) and the Guyana Interest ($17 Million)

Strong Business Performance, Achieved All 2025 Guidance Metrics, Including FY 2025 Average Production of 39,011 boed, Operating EBITDA of $308 Million, Production of $9.23/boe, Energy of $5.49/boe and Transportation Costs of $12.00/boe

Year-End Gross Reserves: 94.4 Million Boe 1P and 133.8 Million Boe 2P

Definitive Agreement Signed to Divest the Company's Colombian E&P Assets Portfolio for a Firm Value of Approximately $750 Million with Parex, Including $525 Million in Equity Consideration

Targeting $470 Million in Shareholder Distributions from the Sale, (Approximately CAD $9.18 per share), Including the $25 Million Contingent Payment

Frontera Emerges as a New Infrastructure-Focused Business Anchored by its Interest in ODL and Puerto Bahía, and with Significant Growth Opportunities Including the Potential LNG Regasification Project with Ecopetrol

Full Year Adjusted Infrastructure EBITDA of $116.6 million, Distributable Cash Flow of $76.7 million and Segment Income of $40.9 million, Led by Strong Performance of the ODL Pipeline

, /PRNewswire/ - Frontera Energy Corporation (TSX: FEC) (OTCQX: FECCF) ("Frontera" or the "Company") today reported financial and operational results for the fourth quarter and year ended December 31, 2025, and the results of its annual independent reserves assessment conducted by DeGolyer and MacNaughton Corp ("D&M"). Figures from previous reporting periods were changed due to the re-presentation of continuing operations following the divestment of non-core assets in Ecuador. Refer to the "Discontinued Operations" section of the interim management's discussion and analysis for the three and twelve months ended December 31, 2025 dated March 17, 2026 (the "MD&A") for further details.

Due to the pending shareholder vote in respect of the previously announced arrangement with Parex Resources Inc., the Company will not host a conference call in connection with its fourth quarter and full year 2025 results.

Gabriel de Alba, Chairman of the Board of Directors, commented:

"2025 was a year of decisive execution and disciplined capital allocation, as Frontera delivered on its commitments and strengthened its financial position. The Company generated $308 million of Operating EBITDA and closed the year with $242 million of cash, providing a strong foundation to execute on its strategic priorities.

Following year-end, Frontera entered into a definitive arrangement with Parex for the divestment of its Colombian E&P assets, marking the successful culmination of a multi-year, comprehensive strategic process. This transaction crystallizes a $125 million increase in cash consideration to shareholders—a 31% improvement over the GeoPark outcome—while preserving significant long-term upside through our Infrastructure platform and retained assets.

Throughout this process, the Board remained focused on a clear objective: maximizing long-term shareholder value through disciplined evaluation, thoughtful engagement with counterparties, and careful stewardship of the Company's strategic options. The outcome reflects both the intrinsic quality of our team, assets and the strength of our positioning.

With this transaction, Frontera completes its transition into a focused infrastructure platform anchored by its interests in ODL and Puerto Bahía—high-quality assets that generate stable cash flows and offer attractive growth opportunities.

Subject to closing, the Company expects to return approximately $470 million to shareholders, representing a substantial return of capital, while retaining the financial flexibility to invest in high-conviction growth initiatives, including its LNG regasification project with Ecopetrol.

In total, this strategy will have unlocked approximately $1.3 billion of capital for shareholders. Frontera now enters its next phase as a more focused, cash-generative infrastructure company, well positioned to deliver durable returns and continued value creation."

Orlando Cabrales, Chief Executive Officer (CEO), Frontera, commented:

"In 2025, Frontera successfully generated positive results, continued to maintain operational flexibility, drive cost efficiencies, prioritize operational improvements and maintain a strong balance sheet, and as a result, achieving all the 2025 guidance metrics targets.

In our infrastructure business, we delivered another year of strong results. ODL transported almost 239,000 bbl/d while generating approximately $300.0 million in full-year consolidated EBITDA (approximately $105 million attributable to Frontera based on its 35% equity interest). Through our equity interest in the pipeline, we received more than $62 million in cash distributions. Puerto Bahia generated approximately $15 million in operating EBITDA, broadly flat year-over-year, and setting the basis for growth in key dry terminal areas, including increased container activity, offsetting lower volumes from our liquids terminal.

Looking ahead, Frontera will emerge as a newly focused infrastructure business, which will be the backbone of our post-transaction Frontera. Our Infrastructure Business generated 2025 Adjusted Infrastructure EBITDA and Distributable Cash Flows totaling $116.6 million and $76.7 million, respectively, supported by a stable dividend stream from ODL and an attractive growth profile at Puerto Bahía. Key growth initiatives include LPG import facilities, a potential LNG regasification project and containerized cargo expansion. The LPG project is expected to achieve an early start-up later in March, and emerging opportunities like the LNG regasification project, supported by a binding take‑or‑pay agreement with Ecopetrol, with an initial capacity of approximately 126 MMcfd, anticipated to increase to at least 300 MMcfd by 2029, shall continue to drive growth into 2026 and beyond."

Fourth Quarter / Full Year 2025 Operational and Financial Summary:

Year ended

December 31

Q4 2025

Q3 2025

Q4 2024

2025

2024

Operational Results from Continuing Operations

Heavy crude oil production (1)

(bbl/d)

26,696

27,078

27,740

27,118

25,328

Light and medium crude oil combined production (1)

(bbl/d)

8,918

9,235

10,484

9,381

10,882

Total crude oil production

(bbl/d)

35,614

36,313

38,224

36,499

36,210

Conventional natural gas production (1)

(mcf/d)

5,261

4,406

2,633

3,773

3,278

Natural gas liquids production (1)

(boe/d) (3)

1,795

1,848

1,970

1,850

1,838

Total production Colombia (2)

(boe/d) (3)

38,332

38,934

40,656

39,011

38,623

Total inventory balance of Colombia and Peru

(bbl)

860,362

919,914

1,029,466

860,362

981,978

Brent price reference

($/bbl)

63.08

68.17

74.01

68.19

81.82

Produced crude oil and gas sales (4)

($/boe)

59.52

64.40

67.31

63.86

72.95

Purchased crude net margin (4)(5)

($/boe)

(2.27)

(2.70)

(3.55)

(3.12)

(3.25)

Oil and gas sales, net of purchases (4)(5)

($/boe)

57.25

61.70

63.76

60.74

69.70

 (Loss) gain on oil price risk management contracts (6)(7)

($/boe)

(0.38)

(1.20)

0.08

(0.72)

(0.72)

Royalties (6)

($/boe)

(0.73)

(0.78)

(0.80)

(0.79)

(1.26)

Net sales realized price (4)(5)

($/boe)

56.14

59.72

63.04

59.23

67.72

Production costs (excluding energy costs), net of realized FX hedge impact (4)

($/boe)

(9.64)

(8.46)

(7.60)

(9.23)

(9.39)

Energy costs, net of realized FX hedge impact (4)

($/boe)

(6.22)

(5.56)

(5.46)

(5.49)

(5.26)

Transportation costs, net of realized FX hedge impact (4)(5)

($/boe)

(11.92)

(11.72)

(11.59)

(12.00)

(11.80)

Operating netback from Continuing Operations per boe (4)(5)

($/boe)

28.36

33.98

38.39

32.51

41.27

Financial Results

Oil & gas sales, net of purchases (8)

($M)

177,038

194,153

207,518

727,544

815,993

(Loss) gain on oil price risk management contracts (7)

($M)

(1,186)

(3,784)

253

(8,680)

(8,457)

Royalties

($M)

(2,241)

(2,454)

(2,599)

(9,448)

(14,704)

Net sales (8)

($M)

173,611

187,915

205,172

709,416

792,832

Net (loss) income for the period from continuing operations (9)

($M)

(663,354)

28,235

(20,485)

(1,020,361)

(18,628)

Net income (loss) for the period from discontinued operations

($M)

2,905

(2,818)

(8,916)

(42,359)

(5,534)

Net (loss) income for the period (9)

($M)

(660,449)

25,417

(29,401)

(1,062,720)

(24,162)

Per share – diluted from continuing operations

($)

(9.51)

0.38

(0.25)

(13.77)

(0.22)

Per share – diluted from discontinued operations

($)

0.04

(0.04)

(0.11)

(0.57)

(0.07)

General and administrative

($M)

15,898

14,877

11,820

58,174

50,292

Outstanding Common Shares

Number of Shares

69,530,049

69,833,514

80,793,387

69,530,049

80,793,387

Operating EBITDA from continuing operations (8)

($M)

68,907

86,585

109,620

308,029

405,118

Cash provided by operating activities

($M)

195,486

115,034

168,691

422,443

508,152

Capital expenditures (8)

($M)

53,247

50,859

84,544

209,193

290,684

Cash and cash equivalents – unrestricted

($M)

230,489

158,614

192,577

230,489

192,577

Restricted cash short and long-term (10)

($M)

11,320

13,437

30,249

11,320

30,249

Total cash (10)

($M)

241,809

172,051

222,826

241,809

222,826

Total debt and lease liabilities (10)

($M)

493,909

532,789

506,037

493,909

506,037

Consolidated total indebtedness (excluding Unrestricted Subsidiaries) (11)

($M)

429,256

357,228

414,481

429,256

414,481

Net debt (excluding Unrestricted Subsidiaries) (11)

($M)

219,531

252,640

277,298

219,531

277,298

* Figures from previous reporting periods were changed due to the re-presentation of continuing operations following the divestment of non-core assets in Ecuador. Refer to the "Discontinued Operations" section on page 21 of the MD&A for further details.

(1) References to heavy crude oil, light and medium crude oil combined, conventional natural gas, and natural gas liquids in the above table and elsewhere in this MD&A refer to heavy crude oil, light crude oil and medium crude oil combined, conventional natural gas, and natural gas liquids, respectively, product types as defined in National Instrument 51-101 - Standards of Disclosure for Oil and Gas Activities.

(2) Represents W.I. production before royalties. Refer to the "Further Disclosures" section on page 48 of the MD&A for further details.

(3) Boe has been expressed using the 5.7 to 1 Mcf/bbl conversion standard required by the Colombian Ministry of Mines & Energy. Refer to the "Further Disclosures - Boe Conversion" section on page 48 of the MD&A for further details.

(4) Non-IFRS ratio is equivalent to a "non-GAAP ratio", as defined in National Instrument 52-112 - Non-GAAP and Other Financial Measures Disclosure ("NI 52-112"). Refer to the "Non-IFRS and Other Financial Measures'' section on page 31 of the MD&A for further details.

(5) 2024 comparative figures differ from those previously reported due to the inclusion of Puerto Bahia inter-segment costs related to diluent and oil purchases as well as transportation costs.

(6) Supplementary financial measures (as defined in NI 52-112). Refer to the "Non-IFRS and Other Financial Measures" section on page 31 of the MD&A for further details.

(7) Includes the net effect of put premiums paid for expired positions and positive cash settlements received from oil price contracts during the period. Refer to the "Gain (Loss) on Risk Management Contracts" section on page 20 of the MD&A for further details.

(8) Non-IFRS financial measure (equivalent to a "non-GAAP financial measure", as defined in NI 52-112). Refer to the "Non-IFRS and Other Financial Measures" section on page 31 of the MD&A for further details.

(9) Capital management measure (as defined in NI 52-112). Refer to the "Non-IFRS and Other Financial Measures" section on page 31 of the MD&A for further details.

(10) "Unrestricted Subsidiaries" include CGX Energy Inc. ("CGX"), listed on the TSX Venture Exchange under the trading symbol "OYL"; FEC ODL Holdings Corp., including its subsidiary, Frontera Pipeline Investment AG ("FPI", formerly named Pipeline Investment Ltd); Frontera BIC Holding Ltd.; Frontera Energy Guyana Holding Ltd.; Frontera Energy Guyana Corp.; and Frontera Bahía Holding Ltd., including Sociedad Portuaria Puerto Bahia S.A ("Puerto Bahia"). Refer to the "Liquidity and Capital Resources" section on page 37 of the MD&A for further details.

 Fourth Quarter and Full Year 2025 Operational and Financial Results:

During the fourth quarter of 2025, the Company reported net loss from continuing operations, attributable to equity holders of the Company, of $663.4 million mainly resulting from a loss from operations of $636.6 million (net of a non-cash impairment expense of $620.4 million), an income tax expense of $21.5 million (including $28.2 million of deferred income tax expenses), finance expenses of $18.9 million and foreign exchange loss of $4.4 million, partially offset by $14.1 million from share of income from associates, $3.3 million related to income on risk management contracts and $1.4 million of finance income. This compares with net loss from continuing operations, attributable to equity holders of the Company, in the fourth quarter of 2024, of $20.5 million, which included an income tax expense of $35.6 million (including $36.4 million of deferred income tax expenses), finance expenses of $21.5 million, $8.9 million related to loss on risk management contracts, and foreign exchange loss of $1.8 million, partially offset by income from operations of $25.5 million (net of a non cash impairment expense of $18.2 million) and $13.2 million from the share of income from associates. Total Colombian production averaged 38,332 boe/d in the fourth quarter of 2025, compared with 38,934 boe/d in the prior quarter and compared with 40,656 boe/d in the fourth quarter of 2024. Production decreased mainly due to (i) a 4% and 1% decline in heavy crude oil production, respectively, resulting from equipment and well failures in heavy oil fields, and community blockades in the Sabanero block, and (ii) light and medium crude oil combined, and natural gas liquids production decreased mainly due to natural decline. These were partially offset by increases in conventional natural gas production driven by the commercialization of natural gas volumes from the VIM-1 block. Frontera's production averaged 39,011 boe/d, within the Company's guidance of 39,000 - 39,500 boe/d.

Production

Year ended
December 31

Production from Continuing Operations:

Q4 2025

Q3 2025

Q4 2024

2025

2024

Producing blocks in Colombia

Heavy crude oil

(bbl/d)

26,696

27,078

27,740

27,118

25,328

Light and medium crude oil combined

(bbl/d)

8,918

9,235

10,484

9,381

10,882

Conventional natural gas

(mcf/d)

5,261

4,406

2,633

3,773

3,278

Natural gas liquids

(boe/d)

1,795

1,848

1,970

1,850

1,838

Total production Colombia

(boe/d)

38,332

38,934

40,656

39,011

38,623

Production from Discontinued Operations (1):

Producing blocks in Ecuador

Light and medium crude oil combined

(bbl/d)

848

940

1,750

1,131

1,665

Total production Ecuador

(bbl/d)

848

940

1,750

1,131

1,665

(1) Refer to the "Discontinued Operations" section on page 19 of the MD&A for further details.

Operating EBITDA from continuing operations was $68.9 million in the fourth quarter of 2025, compared with $86.6 million in the prior quarter and $109.6 million in the fourth quarter of 2024. The quarter-over-quarter decrease was primarily due to lower Brent oil prices, an increase in production cost (excluding energy costs) and transportation costs. Frontera's weighted average oil price was $68.13/bbl in 2025, generating $308.0 million of EBITDA within the Company's guidance. Cash provided by operating activities reported was $195.5 million in the fourth quarter of 2025 ($116.5 million, excluding the $80 million Chevron prepayment), compared with $115.0 million in the prior quarter, and $168.7 million in the fourth quarter of 2024. During the quarter, the Company invested $53.2 million in capital expenditures, and received cash dividends of $12.2 million and a cash return of capital of $4.6 million from Oleoducto de los Llanos Orientales S.A. ("ODL"). The Company reported a total cash position of $241.8 million at December 31, 2025, compared with $172.1 million at September 30, 2025, and $222.8 million at December 31, 2024. The Company generated $422.4 million of cash from operations in 2025, compared to $508.1 million in 2024. During the year, the Company invested $209.2 million of capital expenditures, and $4 million to repurchase senior notes. As at December 31, 2025, the Company had a total crude oil inventory balance of 860,362 barrels compared to 919,914 barrels at September 30, 2025. The Company had a total inventory balance in Colombia of 380,162 barrels, including 242,912 crude oil barrels and 137,162 barrels of diluent and others. This compared to 439,714 barrels as at September 30, 2025, and 501,778 barrels as at December 31, 2024. The decrease in inventory levels was associated with higher volumes of oil inventory sold during the quarter. Capital expenditures were $53.2 million in the fourth quarter of 2025, compared with $50.9 million in the prior quarter and $84.5 million in the fourth quarter of 2024. During the fourth quarter the Company spudded 3 development wells and drilled the Guapo-1 exploration well in the VIM-1 block. Total capital expenditures executed for the year were $209.1 million, within the Company's guidance of $200 - $223 million. The Company's net sales realized price was $56.14/boe in the fourth quarter of 2025, compared to $59.72/boe in the prior quarter and $63.04/boe in the fourth quarter of 2024. The decrease was primarily driven by a lower Brent oil price, partially offset by better oil price differentials and lower cash royalties paid. The Company's net sales realized price in 2025 was $59.23/boe compared to $67.72/boe in 2024. The Company's operating netback from continuing operations was $28.36/boe in the fourth quarter of 2025, compared with $33.98/boe in the prior quarter and $38.39/boe in the fourth quarter of 2024. The Company's operating netback decrease quarter-over-quarter was a result of lower net sales realized prices, and an increase in production costs (excluding energy cost) and transportation costs. The Operating netback for the year ended December 31, 2025, was $32.51/boe, compared to $41.27/boe in 2024. Production costs (excluding energy costs), net of realized FX hedge impact, averaged $9.64/boe in the fourth quarter of 2025, compared with $8.46/boe in the prior quarter and $7.60/boe in the fourth quarter of 2024. Production costs increase was primarily driven by higher well service activity and the impact of the strong Colombian peso. Production costs (excluding energy costs), net of realized FX hedge impact for the year was $9.23/boe within the Company's guidance of $8.75 - $9.25/boe. Energy costs, net of realized FX hedging impacts, averaged $6.22/boe in the fourth quarter of 2025, compared to $5.56/boe in the prior quarter and up from $5.46/boe in the fourth quarter of 2024. The increase quarter over quarter was mainly due to higher fuel consumption resulting from higher processed production liquid volumes and the impact of the strong Colombian peso. Energy costs, net of realized FX hedge impact for the year was $5.49/boe within the Company's guidance of $5.25 - $5.75/boe. Transportation costs, net of realized FX hedging impacts averaged $11.92/boe in the fourth quarter of 2025, compared with $11.72/boe in the prior quarter and $11.59/boe in the fourth quarter of 2024. The increase in transportation costs during the quarter was mainly driven by increased transported volumes resulting from inventory drawdown. Transportation costs, net of realized FX hedge impact for the year was $12.00/boe below the Company's guidance of $12.50 - $13.00/boe. Frontera Infrastructure Fourth Quarter and Full Year 2025 Operational and Financial Results:

ODL volumes transported were 241,734 bbl/d during the fourth quarter of 2025, in line with the previous quarter, which saw 241,958 bbl/d in volumes transported. During the year 2025, ODL transported an average of 238,994 bbl/d. Total Puerto Bahia liquids volumes were 40,548 bbl/d during the quarter compared to 39,560 bbl/d the previous quarter. In the fourth quarter of 2025, lower third-party liquids volumes reflected reduced throughput from key customers and the absence of certain trading flows, partially offset by strong performance in the dry port. During 2025, Puerto Bahia had higher revenues from roll-on/ roll-off (RoRo), containerized cargo, and general cargo, supported by volume growth and tariff adjustments. Adjusted Infrastructure EBITDA, including $0.4 million of negative Adjusted Infrastructure EBITDA related to ProAgrollanos and SAARA activities, which will be divested as part of the Parex transaction, in the quarter was $30.5 million, compared to $30.4 million in the prior quarter. EBITDA in the fourth quarter was driven by higher EBITDA from Puerto Bahia, mainly due to higher throughput for the liquids and container volumes handled at the port, partially offset by higher costs in ODL. Adjusted Infrastructure EBITDA for the year was $116.6 million, including $3.4 million of negative Adjusted Infrastructure EBITDA related to ProAgrollanos and SAARA activities. Capital expenditures for the three months ended December 31, 2025, totaled $2.8 million primarily driven by investments totaling $1.7 million made in Puerto Bahia, including: (i) $0.9 million towards the connection project between Puerto Bahia's port facility and the Cartagena refinery, (ii) tank maintenance, and (iii) general expenditures related to the cargo terminal facilities. Fourth quarter capital expenditures also included investment in the SAARA project and palm oil plantation. Puerto Bahía secured a take‑or‑pay agreement with Ecopetrol, subject to certain conditions precedent, to develop an LNG regasification project in early 2026. The project is expected to benefit from Puerto Bahía's existing and robust port facilities and operating platform, including the repurposing of the Reficar connection to transport natural gas, enabling an accelerated development timeline and faster time‑to‑market. The project contemplates two phases, with an initial regasification capacity of approximately 126 MMcfd, anticipated to increase to at least 300 MMcfd by 2029, providing integrated logistics and regasification services to Reficar and the Colombian Natural Gas Transportation System (SNT). 2025 Year End Reserves Evaluation

Frontera announced the results of its annual independent reserves assessment for the year ended December 31, 2025, conducted by D&M in accordance with the definitions, standards and procedures contained in the Canadian Oil and Gas Evaluation Handbook maintained by the Society of Petroleum Evaluation Engineers (Calgary Chapter) (the "COGE Handbook"), National Instrument 51-101 - Standards of Disclosure for Oil and Gas Activities ("NI 51-101") and CSA Staff Notice 51-324, and are based on the Reserves Report (as defined below). All of the Company's booked reserves for the year ended December 31, 2025 are located in Colombia.

The following tables provide a summary of the Company's oil and natural gas reserves based on forecast prices and costs effective December 31, 2025, as applied in the Reserves Report. The Company's net reserves after royalties at December 31, 2025, incorporate all applicable royalties under Colombia fiscal legislation based on forecast pricing and production rates evaluated in the Reserves Report, including any additional participation interest related to the price of oil applicable to certain Colombian blocks, as at year-end 2025.

2025 Year-End D&M Certified Gross Reserves Volumes (1)

Reserve Category

December 31, 2025

Mboe (2)

December 31, 2024

Mboe (2)

Percentage Change
2025 versus 2024

Proved Developed Producing (PDP)

29.3

36.7

(20) %

Proved Developed Non-Producing (PDNP)

9.5

7.6

25 %

Proved Undeveloped (PUD)

55.6

56.3

(1) %

Total Proved (1P)

94.4

100.6

(6) %

Probable

39.5

50.7

(22) %

Total Proved plus Probable (2P)

133.8

151.3

(12) %

Possible (3)

25.9

33.2

(22) %

Total Proved Plus Probable Plus Possible (3P)

159.7

184.6

(13) %

(7) Gross reserves represent Frontera's W.I. before royalties

(8) See "Boe Conversion" section in the "Advisories" section, at the end of this press release.

(8) Possible reserves are those additional reserves that are less certain to be recovered than probable reserves. There is a 10% probability that the quantities actually recovered will equal or exceed the sum of proved plus probable plus possible reserves.

Reserves Reconciliation

Oil Equivalent Gross 2P
Reserves (MMboe) (1)(2)

December 31, 2024

151.3

Discoveries

0

Extensions & Improved Recovery

0

Technical Revisions (3)

3.5

Acquisitions

0

Dispositions (4)

(5.4)

Economic Factors

(1.5)

Production (5)

(14.2)

December 31, 2025

133.8

(1) See "Boe Conversion" section in the "Advisories" section, at the end of this press release.

(2) Gross refers to Frontera's W.I. before royalties. Net refers to Frontera's W.I. after royalties.

(3) Includes technical revisions mainly in the CPE-6 block, Quifa block, Cubiro block, VIM-1 block and the Guatiquia block.

(4) Mainly associated with the planned disposition of the Caruto, Corcel E, Cernícalo, Petirrojo, Petirrojo Sur, Tijereto Sur and Entrerríos fields in Colombia and Perico and Espejo blocks in Ecuador.

(5) Production represents the Company's production for the twelve-month period ended December 31, 2025, for asset with associated reserves.

Net Present Value of Future Revenue Before Tax Summary - D&M Reserves Report (2025 Brent Forecast) (1)

Reserves Category

December 31, 2024

December 31, 2025

December 31, 2025

$(000's), except per share data

NPV10 ($ 000's) (2)

NPV10 ($ 000's) (3)

NPV10 (C$/share) (4)

Proved Developed Producing (PDP)

942,785

607,902

12.00

Proved Developed Non-Producing (PDNP)

187,260

224,892

4.44

Proved Undeveloped

1,130,849

719,063

14.19

Total Proved (1P)

2,260,895

1,551,857

30.63

Probable

1,129,008

732,608

14.46

Total Proved Plus Probable (2P)

3,389,903

2,284,464

45.09

Possible (5)

718,012

527,254

10.41

Total Proved Plus Probable Plus Possible (3P)

4,107,915

2,811,718

55.50

(1) See "Advisories" at the end of this press release. The Reserves Report

(2) Includes Future development costs ("FDC") as at December 31, 2024, of $658 million of 1P and $1,023 million for 2P

(3) Includes FDC as at December 31, 2025, of $812,844 million for 1P and $1,196,953 million for 2P

(4) Calculated by dividing the December 31, 2025 NPV10 value by 69,530,049shares outstanding as at December 31, 2025 and a USD:CAD foreign exchange rate of 1.37245. Per share valuations do not attribute any value to the Company's material ownership in infrastructure assets as well as any equity value for its ownership in CGX Energy Inc. (TSXV:OYL) ("CGX")

(5) Possible reserves are those additional reserves that are less certain to be recovered than probable reserves. There is a 10 percent probability that the quantities actually recovered will equal or exceed the sum of proved plus probable plus possible reserves.

Frontera's Sustainability Strategy

Frontera met all its 2025 sustainability targets and is progressing with its 2028 Sustainability Strategy.

On environmental achievements:

The Company neutralized 50% of all 2025 emissions A total of 70,162 tons of CO2 equivalent were absorbed from our environmental compensation areas 35% of Frontera's operational water was reused Regarding the Company's social contributions:

Frontera achieved its best Total Recordable Incident Rate (TRIR), 0.43% remaining below international benchmark indicators. 12.24% of total purchases from local goods and services suppliers and $95.1 (USD million) in local purchases. Invested $3,4 million in social projects benefiting 53,248 people near its operations Frontera was ranked 4th in the overall list of the Best Workplaces by Great Place to Work, in the segment of companies in Colombia with 401 to 1,500 employees improving its position compared to 2024. On the governance front:

Ethisphere recognized Frontera for the 5th consecutive year, as one of the most ethical companies in the world Divestment of Colombian E&P Asset Portfolio

As part of Frontera's on-going commitment to unlock shareholder value, the Company previously announced it had entered into a definitive agreement with Parex Resources Inc. and Parex AcquisitionCo Inc (together "Parex") (the "Parex Arrangement Agreement"), pursuant to which Parex will acquire Frontera's upstream Colombian exploration and production business (the "Frontera E&P Assets") by way of a plan of arrangement under the Business Corporations Act (British Columbia) for an equity value of up to $525 million.

Pursuant to the Arrangement, Parex will acquire 100% of Frontera's Colombian upstream business, which consists of all of Frontera's oil and gas exploration and production assets in Colombia, the reverse osmosis water treatment facility ("SAARA") and the palm oil plantation ("ProAgrollanos").

Total cash consideration is up to $525 million, ("Cash Consideration") comprising:

$500 million payable at closing, subject to customary closing adjustments; and An additional $25 million contingent payment payable upon execution of the contractual amendment, or other binding agreement, extending the term of the Quifa Association Contract within 12 months of closing of the Parex Arrangement Agreement. Under the terms of the Parex Arrangement Agreement, Parex or and affiliate thereof, will also assume all of Frontera's obligations under the $310 million aggregate principal amount of outstanding 2028 unsecured notes of the Company and the $80 million outstanding under Frontera's prepayment facility with Chevron Products Company. The Arrangement implies a firm value of approximately $750 million for the acquired assets, comprising cash consideration and the assumption of existing debt.

Below is a breakdown of the Operating EBITDA by the relevant businesses for 2025:

Unit

2025 Consolidated
Operating EBITDA

2025 Frontera E&P
Operating EBITDA

2025 Frontera
Infrastructure
Operating EBITDA

Intersegment
Adjustment(2)

Frontera E&P

$MM

301.5

301.5

—

——

Puerto Bahia

$MM

15.1

—

15.1

ODL Pipeline

$MM

—

—

—

—

SAARA & Palm Oil Assets

$MM

(3.4)

(3.4)

—

—

Intersegment Adjustment(1)

$MM

(5.2)

—

—

(5.2)

Total

$MM

308.0

298.1

15.1

(5.2)

Total Debt and Lease Liabilities

$MM

493.9

325.3

168.6

—

Less: Cash and Cash Equivalents (2)

$MM

230.5

214.4

16.1

—

Adjusted Net Debt

$MM

263.4

110.9

152.5

—

(1) Intersegment adjustment refers to intercompany revenues between Frontera E&P and Puerto Bahia

(2) Cash and Cash Equivalent refers to the portion of Frontera's portion of Cash and cash Equivalents from ODL and Puerto Bahia's Cash & Cash Equivalents on December 31, 2025.

The Arrangement has an effective date of January 1, 2026, is anticipated to close in the second quarter of 2026 subject to customary closing conditions including, without limitation, receipt of Frontera's shareholder approval in accordance with applicable corporate and securities laws, approval of the plan of arrangement by the British Columbia Supreme Court and receipt of required regulatory approvals. The Arrangement is not subject to any financing conditions and payment of the Cash Consideration by Parex will be funded entirely through a combination of Parex's existing cash and credit facilities, and an underwritten financing commitment from Scotiabank.

In connection with the Parex Arrangement Agreement, the Catalyst Capital Group Inc. and Gramercy Funds Management LLC, which beneficially own approximately 41% and 12% of the Company's outstanding shares, respectively, have entered into support agreements under which, subject to the terms of the agreements, they have agreed to vote in favor of the Transaction.

Frontera intends to make a cash distribution to Frontera shareholders of approximately $470 million, as previously announced following the Arrangement, comprised of: (a) an amount between $445 to $455 million payable upon completion of the Arrangement (the "Closing Amount"); and (b) up to an additional $25 million associated to the contingent payment. Subject to the completion of the Arrangement and the approval of a shareholder resolution to approve the Return of Capital (the "Return of Capital Resolution").

As highlighted above, the final distribution amount will be determined by the Board following completion of the Arrangement based on the net cash proceeds of the Arrangement after deducting capital reserved for growth investments, transaction costs, fees and other expenses. Frontera currently expects to allocate approximately $25 million of the proceeds from the Arrangement to its infrastructure business to fund its strategic growth projects, particularly its potential LNG regasification project with Ecopetrol. On a pro forma basis for the 2025 fiscal year, following completion of the Arrangement and after giving effect to the $25 million of capital allocation, management of Frontera expects Frontera Infrastructure to have approximately $50 million of cash and cash equivalents.

The Return of Capital is conditional on the completion of the Arrangement. Accordingly, if the Arrangement is not approved by Frontera shareholders or the Arrangement is not otherwise completed, the Return of Capital will not be completed, regardless of whether Frontera shareholders approve the Return of Capital.

Frontera intends to hold a special meeting of shareholders (the "Meeting") on April 30, 2026, to approve the Arrangement (the "Arrangement Resolution") and, the Return of Capital Resolution and to transact such further and other business as may properly brought before the Meeting or any adjournments or postponements thereof. To become effective, each of the Arrangement Resolution and the Return of Capital Resolution requires approval by at least 66 2/3% of the votes cast by Frontera's shareholders present in person or represented by proxy at the Meeting. The record date (the "Record Date") for the determination of shareholders entitled to receive notice of, and to vote at, the Meeting is expected to be the close of business on March 30, 2026.

Further details regarding the Arrangement and the Return of Capital will be contained in the management information circular (the "Circular"), to be mailed to the Shareholders in connection with the Meeting.

Unlocking Frontera Infrastructure

Upon completion of the Arrangement, Frontera will emerge as a new Infrastructure-focused business, anchored by its interest in ODL and Puerto Bahía. Frontera Infrastructure will own and operate its Infrastructure Colombia business, and will retain certain other non‑Colombian assets, including its interest in Guyana.

Frontera's key assets and interests will comprise (a) a multi‑purpose maritime terminal (the "Port Facility") in the Cartagena Bay through its 99.97% equity interest in Puerto Bahía, and (b) pipeline transportation services through its 35% equity interest in ODL. The business is expected to generate cash flows primarily from pipeline transportation services at ODL and liquids and general cargo terminal operations at the Port Facility, complemented by near‑term growth initiatives that enhance connectivity within Colombia's downstream value chain.

ODL's robust and predictable cash‑flow generation and Puerto Bahía's pipeline of strategic growth projects will form the backbone of Frontera's post‑Arrangement infrastructure portfolio.

Puerto Bahia Highlights

Centrally located operations hub in Cartagena Bay with unrestricted draft and direct access to key road and logistics corridors serving Colombia's industrial mainland. Integrated liquids and general cargo operations with vast expansion area. Completed pipeline connection to Reficar, Colombia's most important refinery. Several near-term expansion opportunities that will enhance asset value and cash flow potential including the liquified petroleum gas ("LPG") import facilities, an LNG regasification project, and containerized cargo expansion. ODL Highlights

Key midstream asset in Colombia, transporting ~30% of Colombian oil production and serving the Llanos area holding ~70% of Colombian proven crude oil reserves. Stable cash generation and strong market and operating position. Estimated 12+ years of economic life for the blocks transported via ODL. Unique position to capture additional revenue streams from its area of influence. Below is a breakdown of Frontera's Infrastructure Adjusted EBITDA:

Unit

2025 Infrastructure
EBITDA

Equity Interest

Frontera
Infrastructure
Adjusted EBITDA (2)

Puerto Bahia

$MM

15.1

99.97 %

15.1

ODL Pipeline

$MM

299.8

35.00 %

104.9

Total

$MM

314.9

120.0

Total Frontera Infrastructure Debt

$MM

168.6

Less: Cash and Cash Equivalents(1)

$MM

45.0

Net Debt

$MM

123.6

(1) Cash and Cash Equivalents refer to the portion of Frontera's portion of Cash and Cash Equivalents from Frontera Energy Corporation, Frontera Pipeline Investment AG and Puerto Bahia's Cash & Cash Equivalents as of December 31, 2025.

(2) Refers only to the EBITDA from Puerto Bahia and the proportional EBITDA from Frontera's 35% interest in ODL, does not include the negative effect from Agrocascada and Proagrollanos EBITDA ($3.4) million.

Frontera Infrastructure 2025

($ millions)

Frontera Infrastructure Operating EBITDA (Puerto Bahia)

15.1

ODL Dividends, net of Taxes

61.6

Infrastructure Distributable Cash Flow

76.7

PIL Debt Service, net(1)

(60.9)

Infrastructure Capex(2)

(2.5)

Infrastructure Free Cash Flow

13.3

(1) 2025 financing flows including cash sweep

(2) Excludes Capex related to the Reficar Connection construction

Enhancing Shareholder Returns

NCIB: On July 18, 2025, the Company initiated a Normal Course Issuer Bid ("NCIB"), through which the Company may purchase up to 3,502,962 Frontera's shares for cancellation, representing approximately 5% of the issued and outstanding shares as at July 15, 2025.

In 2025, the Company repurchased approximately 532,300 common shares for cancellation for approximately $2.6 million. As at March 17, 2026, year to date, the Company repurchased approximately 183,800 Frontera shares for cancellation for approximately $1.2 million under the current NCIB.

As a result of the announcement of the Arrangement, the Company intends to suspend purchases under the NCIB that are made pursuant to the Company's automatic securities purchase plan, and the Company is not aware of any material undisclosed information about itself.

Bond Buybacks: In the fourth quarter of 2025, the Company repurchased $4 million in aggregate amount of its 2028 senior unsecured notes in the open market for a total cash consideration of $2.8 million and recognizing a gain of $1.4 million. In total for 2025, the Company repurchased $85 million in aggregate principal amount of its 2028 senior unsecured notes pursuant to a cash tender offer and concurrent consent solicitation and in the open market for a total cash consideration of $61.2 million recognizing a gain of $13.3 million. As a result, the carrying value for the 2028 senior unsecured notes as of December 31, 2025, is $306.8 million.

Dividends: In connection with the recently announced transaction with Parex, and considering the transaction's effective date (January 1, 2026), the Company has determined to suspend the declaration and payment of its quarterly dividend until the transaction is finalized.

Frontera's Core Businesses

Colombia Upstream Onshore

Colombia

During the fourth quarter of 2025, Frontera produced 38,332 boe/d from its Colombian operations (consisting of 26,696 bbl/d of heavy crude oil, 8,918 bbl/d of light and medium crude oil, 5,261 mcf/d of conventional natural gas and 1,795 boe/d of natural gas liquids).

Currently, the Company has 1 drilling rig and 2 well intervention rigs active at its Quifa and CPE-6 and Guatiquia blocks in Colombia.

Quifa Block: Quifa SW and Cajua

For the Quifa block, fourth quarter 2025 production averaged 17,639 bbl/d of heavy crude oil (including both Quifa and Cajua) as compared to 17,586 bbl/d during the previous quarter. The Company invested in facility expansion and the installation of new flow lines in the Cajua field, in the Quifa block to support new well production and the SAARA connection.

During the fourth quarter of 2025, the Company processed approximately 1.76 million barrels of water per day in Quifa including SAARA.

CPE-6

For the CPE-6 block, production averaged approximately 7,346 bbl/d of heavy crude oil during the fourth quarter, compared to 7,710 bbl/d during the third quarter of 2025.

The Company invested in the expansion of crude oil storage capacity and the implementation of new field production technologies.

The Company processed approximately 385 thousand barrels of water per day in CPE-6 in the fourth quarter of 2025. The Company's current water handling capacity in CPE-6 is approximately 400 thousand barrels of water per day.

Other Colombia Developments

For Guatiquia, production during the fourth quarter 2025 averaged 5,007 bbl/d of light and medium crude compared with 5,145bbl/d in the third quarter of 2025.

For the Cubiro block production averaged 896 bbl/d of light and medium crude oil in the fourth quarter of 2025 compared with 981 bbl/d in the third quarter of 2025.

For VIM-1 (Frontera 50% W.I., non-operator), production averaged 2,286 boe/d of light and medium crude oil in the fourth quarter of 2025 compared to 2,187 boe/d of light and medium crude oil in the third quarter of 2025.

For the Sabanero block, production averaged 1,711 boe/d of heavy crude oil production in the fourth quarter of 2025 compared to 1,781 boe/d in the third quarter of 2025.

Colombia Exploration Assets

During the three months and the year ended December 31, 2025, expenditures related to exploration activities were $16.4 million and $31.0 million, respectively, compared with $5.9 million and $17.0 million, respectively, in the same periods of 2024. During the fourth quarter of 2025, the Company's exploration focus remained on the Lower Magdalena Valley and Llanos Basins in Colombia. At the VIM-1 block, the Guapo-1 exploration well was spudded on October 16, 2025, and reached total depth, approximately 15,000 feet, on December 31, 2025.

Following logging operations, it was determined that hydrocarbon production was not commercial. Parex and Frontera have agreed to proceed with plugging and abandoning the well. In addition, the Company is engaged in pre-seismic and pre-drilling activities related to social and environmental studies in the Llanos-99 and VIM-46 blocks to ensure the drilling of exploratory wells from 2026 onward. At the Llanos-99 block, the operational phase of the 3D seismic survey has commenced with the mobilization of materials and equipment.

Infrastructure Colombia

For Fiscal Year 2025, Frontera's Infrastructure Colombia Segment includes the Company's 35% equity interest in the ODL pipeline through Frontera's wholly owned subsidiary, FPI and the Company's 99.97% interest in Puerto Bahia. Beginning in 2024, the Infrastructure Colombia Segment also includes the Company's reverse osmosis water treatment facility (SAARA) and its palm oil plantation (ProAgrollanos). As part of the Parex Arrangement Agreement, Frontera is selling the SAARA and ProAgrollanos assets, given their close operational linkage to supporting activities in the Quifa block. Following the closing of the Parex Arrangement Agreement, Frontera's Infrastructure Colombia business will no longer include SAARA or ProAgrollanos.

As previously announced, in connection with the standalone and growing Colombia infrastructure business, the planned LPG project has been approved for development. The initial phase of the project is being fast-tracked and expected to be operational in later in March, supporting the supply constraints in Colombia's domestic LPG market.

At the beginning of 2026, Puerto Bahía secured a take‑or‑pay agreement with Ecopetrol, subject to certain conditions precedent, to develop an LNG regasification project, providing integrated logistics and regasification services to Reficar and the Colombian Natural Gas Transportation System (SNT). The project is expected to benefit from Puerto Bahía's existing and robust port facilities and operating platform, including the repurposing of the Reficar connection, enabling an accelerated development timeline and faster time‑to‑market. The project contemplates two phases, with an initial regasification capacity of approximately 126 MMcfd, anticipated to increase to at least 300 MMcfd by 2029. The services are planned to be available in the fourth quarter of 2026, and the agreement contemplates an up to seven‑year service term commencing from the start of operations, with options to extend for an additional five years by mutual agreement.

The Company continues to pursue strategic investment opportunities to maximize the port's infrastructure and drive long-term value creation.

Infrastructure Colombia Segment Results

Adjusted Infrastructure EBITDA in the fourth quarter of 2025 was $30.5 million, compared with $30.4 million during the third quarter of 2025, EBITDA was in line with previous quarter, driven by higher EBITDA from Puerto Bahia, mainly due to higher throughput of liquids and container volumes handled at the Port, partially offset by higher costs in ODL.

On the SAARA side, water management volumes continue to increase and stabilize, reaching an average of 181,637 barrels for the quarter, gaining momentum towards the goal of 250,000 barrels per day.

Three months ended

December 31

Year ended

December 31

($M)

2025

2024

2025

2024

Adjusted Infrastructure Revenue

51,984

45,278

191,037

171,392

Adjusted Infrastructure Operating Costs

(17,871)

(13,794)

(61,814)

(50,346)

Adjusted Infrastructure General and Administrative

(3,572)

(3,952)

(12,578)

(13,823)

Adjusted Infrastructure EBITDA

30,541

27,532

116,645

107,223

(1) Non-IFRS financial measure

Segment capital expenditures for the three months ended December 31, 2025, totaled $2.8 million primarily driven by investments totaling $1.7 million made in Puerto Bahia, including: (i) $0.9 million towards the connection project between Puerto Bahia's port facility and the Cartagena refinery, (ii) tank maintenance, and (iii) general expenditures related to the cargo terminal facilities. Fourth quarter capital expenditures also included investment in the SAARA project and palm oil plantation.

Three months ended

December 31

Year ended

December 31

($M)

Q4 2025

Q3 2025

Q4 2024

2025

2024

Revenue

17,065

15,647

13,873

60,055

48,542

Costs

(12,007)

(11,244)

(8,099)

(42,674)

(31,438)

General and administrative expenses

(1,537)

(1,429)

(1,507)

(5,653)

(5,903)

Depreciation, amortization and impairment expenses

(20,326)

(2,815)

(1,877)

(27,212)

(7,976)

Other operating costs

(1,446)

(472)

(407)

(12,739)

(1,710)

Infrastructure Colombia (loss) income from operations

(18,251)

(313)

1,983

(18,223)

1,565

Share of income from associates - ODL

14,107

15,857

13,200

59,197

53,912

Infrastructure Colombia segment income

(4,144)

15,544

15,183

40,974

55,477

Infrastructure Colombia segment cash flow from operating activities

12,570

22,062

14,788

61,806

58,034

Capital Expenditures Infrastructure Colombia Segment (1)

2,828

5,344

25,999

15,706

47,882

(1)Non-IFRS financial measures (equivalent to a "non-GAAP financial measures", as defined in NI 52-112). Refer to the "Non-IFRS and Other Financial Measures'' section on page 28 of the MD&A.

The following table shows the volumes pumped per injection point in ODL:

Year ended

December 31

(bbl/d)

Q4 2025

Q3 2025

Q4 2024

2025

2024

At Rubiales Station

133,831

131,536

167,272

142,747

169,890

At Caño Sur Station

50,266

50,484

—

36,412

—

At Jagüey and Palmeras Stations

57,637

59,938

68,256

59,835

73,779

Total

241,734

241,958

235,528

238,994

243,669

The following table shows throughput for the liquids port facility at Puerto Bahia:

Year ended

December 31

(bbl/d)

Q4 2025

Q3 2025

Q4 2024

2025

2024

FEC volumes

12,587

10,286

11,626

10,555

13,513

Third party

27,961

29,274

50,364

35,639

42,506

Total

40,548

39,560

61,990

46,194

56,019

The following table shows the RORO units, their dwell times, the containers and break-bulk volumes, for the general cargo port facility at Puerto Bahia:

Three months ended

December 31

Year ended

December 31

2025

2024

2025

2024

RORO

Units (1)

38,727

21,676

121,536

74,425

Dwell time in days (2)

34

48

31

54

Containers

TEUs (3)

6,436

539

17,890

1,003

Break Bulk Volumes

Tons/m3 (4)

15,406

34,690

73,568

69,494

(1) Wheeled cargo, primarily cars imported to Colombia.

(2) Dwell time refers to the time spent by the units within the general cargo port facility. The variance in dwell time associated with Break Bulk Volumes could depend on the characteristics of the cargo, especially in situations where the cargo is received and dispatched within a single day.

(3) Twenty-foot Equivalent Unit.

(4) Other types of cargo other than wheeled cargo and containers.

The following table shows the barrels of water per day treated and irrigated in SAARA and field performance indicators for ProAgrollanos:

Year ended

December 31

($M)

Q4 2025

Q3 2025

Q4 2024

2025

2024

Fresh fruit bunches for palm oil (produced - sold)

(Tons)

7,191

6,214

6,183

28,128

25,357

Production per hectare per year (1)

(Tons/ha/year)

9.73

9.35

8.40

9.73

8.40

Palm oil fruit price

($/Ton)

228

208

203

215

174

Volumes of reverse osmosis water treated

(bwpd)

181,637

156,767

78,716

135,158

44,121

Volumes of water irrigated for palm oil cultivation (2)

(bwpd)

171,685

150,125

80,276

130,863

40,837

(1)Tons per hectare per year for the three months ended December 31, are calculated using the total production for the last twelve months ended December 31.

Guyana Update

On March 26, 2025, the Company and its subsidiaries, Frontera Petroleum International Holding B.V. and Frontera Energy Guyana Holding Ltd. (the "Investors"), delivered a Notice of Intent to the Government of Guyana (the "GoG"). In this Notice, the Investors alleged breaches of the United Kingdom–Guyana Bilateral Investment Treaty and the Guyana Investment Act by the GoG. This communication triggered a 90-day consultation and negotiation period intended to resolve the dispute amicably.

On July 23, 2025, the GoG, through its legal counsel, responded to the Notice of Intent, rejecting the claims regarding the Corentyne block license, and reaffirmed its view that the interest of Frontera Energy Guyana Corp. ("Frontera Guyana") and CGX Resources Inc. ("CGX Resources", and together with Frontera Guyana, the "Joint Venture") expired on June 28, 2024. The Joint Venture has continued to exchange without prejudice communications with the GoG, and remains open to engaging in good faith discussions with the GoG.

The Joint Venture continues to firmly maintain that its interests in, and the license for, the Corentyne block remain valid and in good standing and that the Petroleum Agreement for such block has not been terminated. While the GoG has publicly stated its position that the Joint Venture's interest expired on June 28, 2024, the Joint Venture strongly disagrees and remains committed to asserting its legal rights under applicable treaties and agreements.

The Joint Venture jointly holds 100% working interest in the Corentyne block, located offshore Guyana. Frontera Guyana and CGX Resources have agreed that their respective participating interests are 72.52% and 27.48%, which includes a 4.52% interest that CGX Resources agreed to assign to Frontera Guyana in 2023. This assignment remains subject to the approval of the GoG but is enforceable between Frontera Guyana and CGX Resources.

Hedging Update

As part of its risk management strategy, Frontera uses derivative commodity instruments to manage exposure to price volatility by hedging a portion of its oil production. The Company's strategy aims to protect 40-60% of its estimated net after royalties' production using a combination of instruments, capped and non-capped, to protect the revenue generation and cash position of the Company, while maximizing the upside, thereby allowing the Company to take a more dynamic approach to the management of its hedging portfolio.

The following table summarizes Frontera's hedging position as of March 17, 2026.

Term

Type of Instrument

Positions

(bbl/d)

Strike Prices

Put/Call

Jan 26

Put Spread

8,097

65/55

Feb 26

Put Spread

14,500

65/55

Mar 26

Put Spread

20,613

65/55

1Q-2026

Total Average

14,400

65/55

Apr 26

Put Spread

8,073

62.7/55

May 26

Put Spread

21,258

62.7/55

Jun 26

Put Spread

14,633

62.7/55

2Q-2026

Total Average

14,727

62.7/55

About Frontera:

Frontera Energy Corporation is a Canadian public company involved in the exploration, development, production, transportation, storage and sale of oil and natural gas in South America, including related investments in both upstream and midstream facilities. The Company has a diversified portfolio of assets with interests in 17 exploration and production blocks in Colombia, pipeline transportation services and a multi-purpose maritime terminal in Colombia and certain other non-Colombian assets, including its interest in Guyana. Frontera is committed to conducting business safely and in a socially, environmentally and ethically responsible manner.

If you would like to receive News Releases via e-mail as soon as they are published, please subscribe here: http://fronteraenergy.mediaroom.com/subscribe.

Social Media

Follow Frontera social media channels at the following links:

Twitter: https://twitter.com/fronteraenergy?lang=en
Facebook: https://es-la.facebook.com/FronteraEnergy/
LinkedIn: https://co.linkedin.com/company/frontera-energy-corp. 

Advisories:

Cautionary Note Concerning Forward-Looking Statements

This news release contains forward-looking statements. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future including, without limitation, statements regarding the expected closing date of the Arrangement, the ability of Frontera to obtain all necessary court, third-party and shareholder approvals to complete the Arrangement, the cash consideration to be received pursuant to the Arrangement, the expected use of proceeds resulting from the Arrangement, the anticipated Return of Capital and the expected timing thereof, the focus and business of the Company following completion of the Arrangement, the expected completion date of the LPG project and its impact on Colombia's domestic LPG market, the expected capacity of the LNG regasification project, future growth initiatives, the mailing and the contents of the Circular in respect of the Meeting, the holding of the Meeting and the timing thereof and the related Record Date, the conditions to completing the Arrangement, the source of expected future cash flows following completion of the Arrangement, future growth initiatives, the estimated years of remaining economic life for the blocks transported via ODL, the potential outcome of the dispute with the GoG over the Corentyne block, the Company's development plans and objectives, production levels, profitability, cash flows, and future income generation capacity are forward-looking statements.

These forward-looking statements reflect the current expectations or beliefs of the Company based on information currently available to the Company. Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things: volatility in market prices for oil and natural gas; the U.S. trade tariffs affecting numerous countries; the impact of the Russia-Ukraine conflict and the conflict in the Middle East and economic sanctions related thereto; actions of the Organization of Petroleum Exporting Countries; the risk that the sale of the Colombian upstream business pursuant to the Arrangement is not completed; actions by other third parties including customers, suppliers, industry partners or relevant governmental or regulatory authorities, uncertainties associated with estimating and establishing oil and natural gas reserves and resources; liabilities inherent with the exploration, development, exploitation and reclamation of oil and natural gas; uncertainty of estimates of capital and operating costs, production estimates and estimated economic return; increases or changes to transportation costs; expectations regarding the Company's ability to raise capital and to continually add reserves through acquisition and development; the Company's ability to complete strategic initiatives or transactions to enhance the value of the Frontera Shares and the timing thereof; the Company's intent to continue to consider investor-focused initiatives; the Company's ability to access additional financing; the ability of the Company to maintain its credit ratings; the ability of the Company to: meet its financial obligations and minimum commitments, fund capital expenditures and comply with covenants contained in the agreements that govern indebtedness; the intentions of the Company with regard to its capital allocation decisions; political developments in the countries where the Company operates; the uncertainties involved in interpreting drilling results and other geological data; geological, technical, drilling and processing problems; timing of receipt of government approvals; measures the Company may take in response to pandemics of similar events; and fluctuations in foreign exchange or interest rates and stock market volatility, the ability of the Joint Venture to reach an agreement with the GoG in respect of the Joint Venture's interest in the agreements relating to the Corentyne block or the results of any ongoing discussions or legal processes relating to such matters, and the other risks disclosed under the heading "Risk Factors" and elsewhere in the Company's annual information form dated March 17, 2026 filed on SEDAR+ at www.sedarplus.ca.

Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.

This news release contains future oriented financial information and financial outlook information (collectively, "FOFI") (including, without limitation, statements regarding expected average production), and are subject to the same assumptions, risk factors, limitations and qualifications as set forth in the above paragraph. The FOFI has been prepared by management to provide an outlook of the Company's activities and results, and such information may not be appropriate for other purposes. The Company and management believe that the FOFI has been prepared on a reasonable basis, reflecting management's reasonable estimates and judgments, however, actual results of operations of the Company and the resulting financial results may vary from the amounts set forth herein. Any FOFI speaks only as of the date on which it is made, and the Company disclaims any intent or obligation to update any FOFI, whether as a result of new information, future events or results or otherwise, unless required by applicable laws.

Non-IFRS Financial Measures

This press release contains various "non-IFRS financial measures" (equivalent to "non-GAAP financial measures", as such term is defined in NI 52-112), "non-IFRS ratios" (equivalent to "non-GAAP ratios", as such term is defined in NI 52-112), "supplementary financial measures" (as such term is defined in NI 52-112) and "capital management measures" (as such term is defined in NI 52-112), which are described in further detail below. Such measures do not have standardized IFRS definitions. The Company's determination of these non-IFRS financial measures may differ from other reporting issuers and they are therefore unlikely to be comparable to similar measures presented by other companies. Furthermore, these financial measures should not be considered in isolation or as a substitute for measures of performance or cash flows as prepared in accordance with IFRS. These financial measures do not replace or supersede any standardized measure under IFRS. Other companies in our industry may calculate these measures differently than we do, limiting their usefulness as comparative measures.

The Company discloses these financial measures, together with measures prepared in accordance with IFRS, because management believes they provide useful information to investors and shareholders, as management uses them to evaluate the operating performance of the Company. These financial measures highlight trends in the Company's core business that may not otherwise be apparent when relying solely on IFRS financial measures. Further, management also uses non-IFRS measures to exclude the impact of certain expenses and income that management does not believe reflect the Company's underlying operating performance. The Company's management also uses non-IFRS measures in order to facilitate operating performance comparisons from period to period and to prepare annual operating budgets and as a measure of the Company's ability to finance its ongoing operations and obligations.

Set forth below is a description of the non-IFRS financial measures, non-IFRS ratios, supplementary financial measures and capital management measures used in the MD&A.

Operating EBITDA from Continuing Operations *

EBITDA is a commonly used non-IFRS financial measure that adjusts net income (loss) as reported under IFRS to exclude the effects of income taxes, finance income and expenses, and DD&A. Operating EBITDA from continuing operations is a non-IFRS financial measure that represents the operating results of the Company's primary business, excluding the following items: restructuring, severance and other costs, post-termination obligation, trunkline costs, temporal taxes, payments of minimum work commitments and, certain non-cash items (such as impairments, foreign exchange, unrealized risk management contracts, share-based compensation and debt extinguishment cost) and gains or losses arising from the disposal of capital assets. In addition, other unusual or non-recurring items are excluded from operating EBITDA from continuing operations, as they are not indicative of the underlying core operating performance of the Company.

The following table provides a reconciliation of net income (loss) to Operating EBITDA from continuing operations:

Three months ended

December 31

Year ended

December 31

($M)

2025

2024

2025

2024

Net loss for the period from continuing operations (1)

(663,354)

(20,485)

(1,020,361)

(18,628)

Finance income

(1,392)

(1,851)

(6,677)

(8,363)

Finance expenses

18,888

21,473

71,333

73,252

Income tax (recovery) expense

(15,058)

35,594

(22,557)

99,324

Depletion, depreciation and amortization

75,115

62,737

275,419

254,791

Colombian temporary taxes (2)

1,983

—

7,233

—

Expense (recovery) of asset retirement obligation

1,691

(2,214)

5,500

2,335

Impairment expense

620,436

18,205

1,063,169

19,985

Trunkline costs

162

1,485

2,162

5,314

Post-termination obligation

740

705

3,339

577

Share-based compensation

1,063

827

2,746

1,685

Restructuring, severance and other costs

2,279

2,096

21,084

5,312

Share of income from associates

(14,107)

(13,200)

(59,197)

(53,912)

Foreign exchange loss

4,357

1,795

2,565

11,041

Other loss (income)

6,359

(6,696)

(7,008)

672

Unrealized (gain) loss on risk management contracts

(2,306)

10,035

(7,518)

13,976

Realized loss (gain) on risk management contract for ODL dividends received

1,076

(921)

2,297

(633)

Non-controlling interests

(4,242)

35

(18,206)

(609)

Gain on repurchase of senior unsecured notes net of consent solicitation

(1,363)

—

(13,288)

(1,001)

Debt extinguishment cost

—

—

5,964

—

Operating EBITDA from continuing operations

68,907

109,620

308,029

405,118

Capital Expenditures

Capital expenditures is a non-IFRS financial measure that reflects the cash and non-cash items used by the Company to invest in capital assets. This financial measure considers oil and gas properties, plant and equipment, infrastructure, exploration and evaluation assets expenditures which are items reconciled to the Company's Statements of Cash Flows for the period.

Three months ended

December 31

Year ended

December 31

2025

2024

2025

2024

Consolidated Statements of Cash Flows

Additions to oil and gas properties, infrastructure port, and plant and equipment

54,710

93,074

205,800

311,759

Additions to exploration and evaluation assets

1,567

1,471

5,244

11,749

Total additions in Consolidated Statements of Cash Flows

56,277

94,545

211,044

323,508

Non-cash adjustments (1)

(3,030)

(7,520)

(1,808)

(30,343)

Cash adjustments (2)

—

(2,481)

(43)

(2,481)

Total Capital Expenditures from Continuing Operations

53,247

84,544

209,193

290,684

Capital Expenditures attributable to Infrastructure Colombia Segment

2,828

25,999

15,706

47,882

Capital Expenditures attributable to other segments different to Infrastructure Colombia Segment

50,419

58,545

193,487

242,802

Total Capital Expenditure from Continuing Operations

53,247

84,544

209,193

290,684

(1) Related to materials inventory movements, capitalized non-cash items and other adjustments

Infrastructure Colombia Calculations

Each of Adjusted Infrastructure Revenue, Adjusted Infrastructure Operating Costs and Adjusted Infrastructure General and Administrative, is a non-IFRS financial measure, and each is used to evaluate the performance of the Infrastructure Colombia Segment operations. Adjusted Infrastructure Revenue includes revenues of the Infrastructure Colombia Segment including ODL's revenue direct participation interest. Adjusted Infrastructure Operating Costs includes costs of the Infrastructure Colombia Segment including ODL's cost direct participation interest. Adjusted Infrastructure General and Administrative includes general and administrative costs of the Infrastructure Colombia Segment including ODL's general and administrative direct participation interest.

A reconciliation of each of Adjusted Infrastructure Revenue, Adjusted Infrastructure Operating Costs and Adjusted Infrastructure General and Administrative is provided below.

Three months ended

December 31

Year ended

December 31

($M) (1)

2025

2024

2025

2024

Revenue Infrastructure Colombia Segment

17,065

13,873

60,055

48,542

Revenue from ODL

99,769

89,728

374,235

351,000

Direct participation interest in the ODL

35 %

35 %

35 %

35 %

Equity adjustment participation of ODL (1)

34,919

31,405

130,982

122,850

Adjusted Infrastructure Revenues

51,984

45,278

191,037

171,392

Operating cost Infrastructure Colombia Segment

(12,007)

(8,099)

(42,674)

(31,438)

Operating Cost from ODL

(16,753)

(16,270)

(54,684)

(54,020)

Direct participation interest in the ODL

35 %

35 %

35 %

35 %

Equity adjustment participation of ODL (1)

(5,864)

(5,695)

(19,140)

(18,908)

Adjusted Infrastructure Operating Costs

(17,871)

(13,794)

(61,814)

(50,346)

General and administrative Infrastructure Colombia Segment

(1,537)

(1,507)

(5,653)

(5,903)

General and administrative from ODL

(5,814)

(6,985)

(19,788)

(22,628)

Direct participation interest in the ODL

35 %

35 %

35 %

35 %

Equity adjustment participation of ODL (1)

(2,035)

(2,445)

(6,925)

(7,920)

Adjusted Infrastructure General and Administrative

(3,572)

(3,952)

(12,578)

(13,823)

(1) Revenues and expenses related to ODL are accounted for using the equity method, as described in Note 19 of the Interim Condensed Consolidated Financial Statements.

Adjusted Infrastructure EBITDA

The Adjusted Infrastructure EBITDA is a non-IFRS financial measure used to assist in measuring the operating results of the Infrastructure Colombia Segment business.

Three months ended

December 31

Year ended

December 31

($M)

2025

2024

2025

2024

Adjusted Infrastructure Revenue (1)

51,984

45,278

191,037

171,392

Adjusted Infrastructure Operating Costs (1)

(17,871)

(13,794)

(61,814)

(50,346)

Adjusted Infrastructure General and Administrative (1)

(3,572)

(3,952)

(12,578)

(13,823)

Adjusted Infrastructure EBITDA

30,541

27,532

116,645

107,223

(1) Non-IFRS financial measure

Net Sales

Net sales is a non-IFRS financial measure that adjusts revenue to include realized gains and losses from oil risk management contracts while removing the cost of any volumes purchased from third parties. This is a useful indicator for management, as the Company hedges a portion of its oil production using derivative instruments to manage exposure to oil price volatility. This metric allows the Company to report its realized net sales after factoring in these oil risk management activities. The deduction of cost of purchases is helpful to understand the Company's sales performance based on the net realized proceeds from its own production, the cost of which is partially recovered when the blended product is sold. Net sales also exclude sales from port services, as it is not considered part of the oil and gas segment. Refer to the reconciliation in the "Sales" section on page 10 of the MD&A.

Operating Netback and Oil and Gas Sales, Net of Purchases

Operating netback is a non-IFRS financial measure and operating netback per boe is a non-IFRS ratio. Operating netback per boe is used to assess the net margin of the Company's production after subtracting all costs associated with bringing one barrel of oil to the market. It is also commonly used by the oil and gas industry to analyze financial and operating performance expressed as profit per barrel and is an indicator of how efficient the Company is at extracting and selling its product. For netback purposes, the Company removes the effects of any trading activities and results from its Infrastructure Colombia Segment from the per barrel metrics and adds the effects attributable to transportation and operating costs of any realized gain or loss on foreign exchange risk management contracts. Refer to the reconciliation in the "Operating Netback" section on page 9 of the MD&A.

The following is a description of each component of the Company's operating netback and how it is calculated. Oil and gas sales, net of purchases, is a non-IFRS financial measure that is calculated using oil and gas sales less the cost of volumes purchased from third parties including its transportation and refining costs. Oil and gas sales, net of purchases per boe, is a non-IFRS ratio that is calculated using oil and gas sales, net of purchases, divided by the total sales volumes, net of purchases. A reconciliation of this calculation is provided below:

Three months ended

December 31

Year ended

December 31

2025

2024

2025

2024

Produced crude oil and products sales ($M) (1)

184,045

219,070

764,855

854,111

Purchased crude net margin ($M) (2)(3)

(7,007)

(11,552)

(37,311)

(38,118)

Oil and gas sales, net of purchases ($M) (2)

177,038

207,518

727,544

815,993

Sales volumes, net of purchases - (boe)

3,092,304

3,254,592

11,976,745

11,707,608

Produced crude oil and gas sales ($/boe)

59.52

67.31

63.86

72.95

Oil and gas sales, net of purchases ($/boe) (2)

57.25

63.76

60.74

69.70

 * Figures from previous reporting periods were changed due to the re-presentation of continuing operations following the divestment of non-core assets in Ecuador. Refer to the "Discontinued Operations" section on page 19 of the MD&A for further details.

(1) Excludes sales from infrastructure services, as they are not part of the oil and gas segment. Refer to the "Infrastructure Colombia" section on page 24 of the MD&A for further details.

(2) 2024 comparative figures differ from those previously reported due to the inclusion of Puerto Bahia inter-segment costs related to diluent and oil purchases as well as transportation costs.

(3) Purchased crude net margin is a non-IFRS financial measure calculated using purchased crude oil and product sales, less the cost of those volumes purchased from third parties including transportation and refining costs. Please see the calculation below.

Distributable Cash Flow is a non- IFRS financial measure used to assess the cash available to the Company from its operations and equity investments to support capital expenditures, debt service and dividends.

Non-IFRS Ratios

Realized oil price, net of purchases, and realized gas price per boe

Realized oil price, net of purchases, and realized gas price per boe are both non-IFRS ratios. Realized oil price, net of purchases, per boe is calculated using oil sales net of purchases, divided by total sales volumes, net of purchases. Realized gas price is calculated using sales from gas production divided by the conventional natural gas sales volumes.

Three months ended

December 31

Year ended

December 31

2025

2024

2025

2024

Oil and gas sales, net of purchases ($M) (1)(2)

177,038

207,518

727,544

815,993

Crude oil sales volumes, net of purchases - (bbl)

3,008,810

3,213,578

11,742,389

11,500,286

Conventional natural gas sales volumes - (mcf)

475,857

234,321

1,335,483

1,183,171

Realized oil price, net of purchases ($/bbl) (2)

57.19

64.08

61.00

70.30

Realized conventional natural gas price ($/mcf)

10.42

6.78

8.45

6.37

* Figures from previous reporting periods were changed due to the re-presentation of continuing operations following the divestment of non-core assets in Ecuador. Refer to the "Discontinued Operations" section on page 19 for further details.

(1) Non-IFRS financial measure.

(2) 2024 comparative figures differ from those previously reported due to the inclusion of Puerto Bahia inter-segment costs related to diluent and oil purchases as well as transportation costs.

Net sales realized price

Net sales realized price is a non-IFRS ratio that is calculated using net sales (including oil and gas sales net of purchases, realized gains and losses from oil risk management contracts and less royalties). Net sales realized price per boe is a non-IFRS ratio which is calculated dividing each component by total sales volumes, net of purchases. A reconciliation of this calculation is provided below:

Three months ended

December 31

Year ended

December 31

2025

2024

2025

2024

Oil and gas sales, net of purchases ($M) (1)(2)

177,038

207,518

727,544

815,993

(Loss) gain on oil price risk management contracts, net ($M) (3)

(1,186)

253

(8,680)

(8,457)

(-) Royalties ($M)

(2,241)

(2,599)

(9,448)

(14,704)

Net sales ($M)

173,611

205,172

709,416

792,832

Sales volumes, net of purchases - (boe)

3,092,304

3,254,592

11,976,745

11,707,608

Oil and gas sales, net of purchases ($/boe) (2)

57.25

63.76

60.74

69.70

 Premiums received (paid) on oil price risk management contracts (3)(4)

(0.38)

0.08

(0.72)

(0.72)

 Royalties ($/boe) (4)

(0.73)

(0.80)

(0.79)

(1.26)

Net sales realized price ($/boe) (2)

56.14

63.04

59.23

67.72

* Figures from previous reporting periods were changed due to the re-presentation of continuing operations following the divestment of non-core assets in Ecuador. Refer to the "Discontinued Operations" section on page 19 of the MD&A for further details.

(1) Non-IFRS financial measure.

(2) 2024 comparative figures differ from those previously reported due to the inclusion of Puerto Bahia inter-segment costs related to diluent and oil purchases as well as transportation costs.

(3) Includes the net amount of put premiums paid for expired positions and the positive cash settlement received from oil price contracts during the period. Refer to the "Gain (Loss) on Risk Management Contracts" section on page 18 of the MD&A for further details.

(4) Supplementary financial measure.

Purchased crude net margin

Purchased crude net margin is a non-IFRS financial measure that is calculated using the purchased crude oil and products sales, less the cost of those volumes purchased from third parties including its transportation and refining costs. Purchased crude net margin per boe is a non-IFRS ratio that is calculated using the Purchased crude net margin, divided by the total sales volumes, net of purchases. A reconciliation of this calculation is provided below:

Three months ended

December 31

Year ended

December 31

2025

2024

2025

2024

Purchased crude oil and products sales ($M)

43,141

54,469

194,015

202,752

(-) Cost of diluent and oil purchased ($M) (1)

(49,375)

(65,375)

(229,094)

(235,944)

Puerto Bahía inter-segment costs (2)

(773)

(646)

(2,232)

(4,926)

Purchased crude net margin ($M) (2)

(7,007)

(11,552)

(37,311)

(38,118)

Sales volumes, net of purchases - (boe)

3,092,304

3,254,592

11,976,745

11,707,608

Purchased crude net margin ($/boe) (2)

(2.27)

(3.55)

(3.12)

(3.25)

* Figures from previous reporting periods were changed due to the re-presentation of continuing operations following the divestment of non-core assets in Ecuador. Refer to the "Discontinued Operations" section on page 19 of the MD&A for further details.

(1) Cost of third-party volumes purchased for use and resale in the Company's oil operations, including associated transportation and refining costs.

(2) 2024 comparative figures differ from those previously reported due to the inclusion of Puerto Bahia inter-segment costs related to diluent and oil purchases as well as transportation costs.

Production costs (excluding energy cost), net of realized FX hedge impact, and production cost (excluding energy cost), net of realized FX hedge impact per boe

Production costs (excluding energy cost), net of realized FX hedge impact is a non-IFRS financial measure that mainly includes lifting costs, activities developed in the blocks, processes to put the crude oil and gas in sales condition and the realized gain or loss on foreign exchange risk management contracts attributable to production costs. Production cost, net of realized FX hedge impact per boe is a non-IFRS ratio that is calculated using production cost (excluding energy cost), net of realized FX hedge impact divided by production (before royalties). A reconciliation of this calculation is provided below:

Three months ended

December 31

Year ended

December 31

2025

2024

2025

2024

Production costs (excluding energy costs) ($M)

33,493

27,628

128,296

134,694

(-) Realized gain on FX hedge attributable to production costs (excluding energy costs) ($M) (1)

(1,367)

—

(2,615)

(3,358)

SAARA inter-segment costs

1,872

783

5,783

1,370

Production costs (excluding energy costs), net of realized FX hedge impact ($M) (2)

33,998

28,411

131,464

132,706

Production Colombia (boe)

3,526,544

3,740,352

14,239,015

14,136,018

Production costs (excluding energy costs), net of realized FX hedge impact ($/boe)

9.64

7.60

9.23

9.39

* Figures from previous reporting periods were changed due to the re-presentation of continuing operations following the divestment of non-core assets in Ecuador. Refer to the "Discontinued Operations" section on page 19 of the MD&A for further details.

(1) See "Gain (Loss) on Risk Management Contracts" on page 18 of the MD&A for further details.

(2) Non-IFRS financial measure.

Energy costs, net of realized FX hedge impact, and production cost, net of realized FX hedge impact per boe

Energy costs, net of realized FX hedge impact is a non-IFRS financial measure that describes the electricity consumption and the costs of localized energy generation and the realized gain or loss on foreign exchange risk management contracts attributable to energy costs. Energy cost, net of realized FX hedge impact per boe is a non-IFRS ratio that is calculated using energy cost, net of realized FX hedge impact divided by production (before royalties). A reconciliation of this calculation is provided below:

Three months ended

December 31

Year ended

December 31

2025

2024

2025

2024

Energy costs ($M)

22,595

20,439

79,546

75,622

(-) Realized gain on FX hedge attributable to energy costs ($M) (1)

(677)

—

(1,366)

(1,267)

Energy costs, net of realized FX hedge impact ($M) (2)

21,918

20,439

78,180

74,355

Production Colombia (boe)

3,526,544

3,740,352

14,239,015

14,136,018

Energy costs, net of realized FX hedge impact ($/boe)

6.22

5.46

5.49

5.26

* Figures from previous reporting periods were changed due to the re-presentation of continuing operations following the divestment of non-core assets in Ecuador.

(1) See "Gain (Loss) on Risk Management Contracts" on page 18 of the MD&A for further details.

(2) Non-IFRS financial measure.

Transportation costs, net of realized FX hedge impact, and transportation costs, net of realized FX hedge impact per boe

Transportation costs, net of realized FX hedge impact is a non-IFRS financial measure, that includes all commercial and logistics costs associated with the sale of produced crude oil and gas such as trucking and pipeline, and the realized gain or loss on foreign exchange risk management contracts attributable to transportation costs. Transportation cost, net of realized FX hedge impact per boe is a non-IFRS ratio that is calculated using transportation cost, net of realized FX hedge impact divided by net production after royalties. A reconciliation of this calculation is provided below:

Three months ended

December 31

Year ended

December 31

2025

2024

2025

2024

Transportation costs ($M)

38,544

38,645

154,426

146,741

(-) Realized gain on FX hedge attributable to transportation costs ($M) (1)

(761)

—

(1,628)

(982)

Puerto Bahía inter-segment costs (2)

887

507

2,991

2,021

Transportation costs, net of realized FX hedge impact ($M) (2)(3)

38,670

39,152

155,789

147,780

Net production Colombia (boe)

3,245,024

3,377,136

12,984,510

12,524,154

Transportation costs, net of realized FX hedge impact ($/boe) (2)

11.92

11.59

12.00

11.80

* Figures from previous reporting periods were changed due to the re-presentation of continuing operations following the divestment of non-core assets in Ecuador. Refer to the "Discontinued Operations" section on page 19 of the MD&A for further details.

(1) See "Gain (Loss) on Risk Management Contracts" on page 18 of the MD&A for further details.

(2) 2024 comparative figures differ from those previously reported due to the inclusion of Puerto Bahia inter-segment costs related to transportation costs.

(3) Non-IFRS financial measure.

Supplementary Financial Measures

Royalties per boe

Royalties includes royalties and amounts paid to previous owners of certain blocks in Colombia and cash payments for PAP. Royalties per boe is a supplementary financial measure that is calculated using the royalties divided by total sales volumes, net of purchases.

Capital Management Measures

Restricted cash short- and long-term

Restricted cash (short- and long-term) is a capital management measure, that sums the short-term portion and long-term portion of the cash that the Company has in term deposits that have been escrowed to cover future commitments and future abandonment obligations, or insurance collateral for certain contingencies and other matters that are not available for immediate disbursement.

Total cash

Total cash is a capital management measure to describe the total cash and cash equivalents restricted and unrestricted available, is comprised by the cash and cash equivalents and the restricted cash short and long-term.

Total debt and lease liabilities

Total debt and lease liabilities are capital management measures to describe the total financial liabilities of the Company and is comprised of the debt of the 2028 Unsecured Notes, loans, and liabilities from leases of various properties, power generation supply, vehicles and other assets.

About Frontera's 2025 Year-End Estimated Reserves

The Company's 2025 year-end estimated reserves were evaluated by D&M in their report dated February 6, 2026, with an effective date of December 31, 2025 (the "Reserves Report"), in accordance with the definitions, standards and procedures contained in the COGE Handbook, NI 51-101 and CSA Staff Notice 51-324. D&M is an independent qualified reserves evaluator as defined in NI 51-101.

Additional reserves information as required under NI 51-101 will be included in the Company's statement of reserves data and other oil and gas information on Form 51-101F1, which is expected to be filed on SEDAR on March 17, 2026. See "Advisory Note Regarding Oil and Gas Information" section in the "Advisories", at the end of this news release.

Definitions:

bbl(s)

Barrel(s) of oil

bbl/d

Barrel of oil per day

boe

Refer to "Boe Conversion" disclosure above

boe/d

Barrel of oil equivalent per day

Mcf

Thousand cubic feet

MMboe

Millions of barrels of oil equivalent

MMcf/d

Millions of cubic feet per day

$M

Thousands of U.S. dollars

$MM

Millions of U.S. dollars

Net Production

Net production represents the Company's working interest volumes, net of royalties and internal consumption

PDP

Proved developed producing reserves

PDNP

Proved developed non-producing reserves

PUD

Proved undeveloped reserves

1P

Proved reserves

2P

Proved reserves + probable reserves

"Proved Developed Producing Reserves" are those reserves that are expected to be recovered from completion intervals open at the time of the estimate. These reserves may be currently producing or, if shut-in, they must have previously been in production, and the date of resumption of production must be known with reasonable certainty. "Proved Developed Non-Producing Reserves" are those reserves that either have not been on production or have previously been on production but are shut-in and the date of resumption of production is unknown. "Proved Undeveloped Reserves" are those reserves expected to be recovered from known accumulations where a significant expenditure (e.g. when compared to the cost of drilling a well) is required to render them capable of production. They must fully meet the requirements of the reserves category (proved, probable, possible) to which they are assigned. "Proved" reserves are those reserves that can be estimated with a high degree of certainty to be recoverable. It is likely that the actual remaining quantities recovered will exceed the estimated proved reserves. "Probable" reserves are those additional reserves that are less certain to be recovered than proved reserves. It is equally likely that the actual remaining quantities recovered will be greater or less than the sum of the estimated proved plus probable reserves. "Possible" reserves are those additional reserves that are less certain to be recovered than probable reserves. There is a 10 percent probability that the quantities actually recovered will equal or exceed the sum of proved plus probable plus possible reserves. It is unlikely that the actual remaining quantities recovered will exceed the sum of the estimated proved plus probable plus possible reserves. SOURCE Frontera Energy Corporation

Qfin Holdings, Inc. (QFIN) Q4 2025 Earnings Call March 17, 2026 8:30 PM EDT

Company Participants

Karen Ji - Senior Director of Capital Markets
Haisheng Wu - CEO & Director
Zuoli Xu - CFO & Director
Yan Zheng - Chief Risk Officer

Conference Call Participants

Richard Xu - Morgan Stanley, Research Division
Emma Xu - BofA Securities, Research Division
Xiaoxiong Ye - UBS Investment Bank, Research Division
Yun-Yin Wang - China Renaissance, Research Division

Presentation

Operator

Ladies and gentlemen, thank you for standing by, and welcome to the Qfin Holdings Fourth Quarter and Full Year 2025 Earnings Conference Call. [Operator Instructions] Please also note that today's event is being recorded.

At this time, I'd like to turn the conference over to Ms. Karen Ji, Senior Director of Capital Markets. Please go ahead.

Karen Ji
Senior Director of Capital Markets

Thanks, Darcy. Good morning, and good evening, every one. Welcome to Qfin Holdings Fourth Quarter 2025 Earnings Conference Call. Joining me today are Mr. Wu Haisheng, our CEO; Mr. Alex Xu, our CFO; and Mr. Zheng Yan, our CRO.

Before we start, I will quickly cover the safe harbor statement. Today's discussions may contain forward-looking statements, particularly statements about our business and financial outlook that are subject to risks and uncertainties, which could cause actual results to differ materially from those contained in the forward-looking statements. Please refer to the safe harbor statements in our earnings release.

On this call, we will also discuss certain non-GAAP financial measures. Please refer to our earnings release which contains a reconciliation of the non-GAAP financial measures to GAAP financial measures.

Now I will turn the call over to Mr. Wu Haisheng. Please go ahead.

Haisheng Wu
CEO & Director

Hello, everyone. Thank you for joining us today. In 2025, China's consumer finance industry underwent a systemic restructuring under regulatory guidance, the introduction of

Iran's de facto blockade of the Strait of Hormuz has stoked fears of the gravest disruption to global oil supply in history, as the Middle East conflict stretches into its third week.

The blockade has squeezed shipping traffic to a trickle, with just 21 tankers transiting the route since the war began on Feb. 28, according to S&P Global Market Intelligence, compared to more than 100 ships daily before the conflict.

Most vessels appear to be holding positions outside Hormuz, with thousands of seafarers stranded aboard vessels in the Gulf. Some have explored a pivot to disperse to alternative ports.

Roughly 400 vessels were spotted operating in the Gulf of Oman, as a massive backlog of ships waited near the chokepoint, according to a report from maritime intelligence firm Windward on Sunday.

While Iran has kept a tight grip on the strait, a small number of other ships have made the crossing under varying circumstances, signaling that Tehran is selectively letting through some non-Iranian oil cargo in negotiated safe voyages, according to maritime analysts.

Here's a look at some of the countries that have had their vessels go through the critical energy route since the war began.

ChinaTehran has largely avoided targeting ships linked to China. Dozens of vessels broadcasting AIS — automatic identification system — destinations referenced Chinese ownership or crew presence while operating in the Gulf, according to Windward.

"This pattern suggests the possibility of an informal access filter, where vessels signaling Chinese ownership or crew may be attempting to indicate neutrality or avoid targeting in the current conflict environment," Windward analysts said in a report last week.

Beijing was reportedly in talks with Iran to allow crude oil and Qatari liquefied natural gas carriers to pass through the strait. Iran has continued to ship millions of barrels of crude oil to China since the war began.

watch now

From March 1 to March 15, a total of 11 China-linked vessels transited through the Strait of Hormuz, according to Lloyd's List Intelligence, mostly general cargo ships, while tankers operated by mainstream Chinese owners still avoided the route. Earlier this month, Chinese state-owned Cosco Shipping suspended all new bookings for routes to and from ports in the Middle East.

Yet a ship that broadcasts its Chinese affiliation does not always guarantee a safe passage.

One China-owned vessel broadcasting "China Owner" via AIS during transit was struck by shrapnel while sailing from the Middle East Gulf toward Jebel Ali in the United Arab Emirates on March 12, a development that has since deterred further Chinese transits, according to Lloyd's List Intelligence.

Greece Greek shipowners, run by Athens-based Dynacom Tankers Management, have been among the first mainstream operators to test the route.

The Shenlong, a Liberia-flagged Suezmax tanker managed by Dynacom, transited the strait around March 8, carrying roughly one million barrels of Saudi crude to arrive at Mumbai's anchorage.

Another oil tanker, the Smyrni, laden with Saudi crude oil, also sailed through the waterway last week and anchored in Mumbai.

It is not yet clear whether Smyrni was allowed safe passage due to its cargo bound for India, said Lloyd's List Intelligence.

India Indian Foreign Minister S. Jaishankar described the country's direct talks with Tehran as productive. "I am at the moment engaged in talking to them, and my talking has yielded some results," he told the Financial Times earlier this week. "If it is yielding results for me, I would naturally continue to look at it."

Two Indian vessels carrying liquefied petroleum gas, or LPG, under the Shipping Corporation of India were also permitted to transit, with one arriving Sunday and a second expected Tuesday.

About 22 vessels carrying crude, LPG, and liquefied natural gas remained anchored in the strait, awaiting confirmation for safe passage, CNBC has learned.

Pakistan, TurkeyAs recently as Monday, a Pakistan-flagged Aframax tanker laden with crude from Abu Dhabi became the first confirmed non-Iranian cargo vessel to transit the chokepoint while broadcasting its location, according to Kpler's ship-tracking intelligence unit, MarineTraffic.

That shows "select shipments may be receiving negotiated safe passage," it said.

Turkish authorities also confirmed that one Turkish-owned vessel was permitted to transit after calling at an Iranian port, though 14 additional Turkish-owned vessels remain in the region awaiting clearance.

'Random' attacks, diverting routes But the Strait of Hormuz has remained effectively shut to the global energy flow as Tehran continued sporadic attacks on vessels.

Attacks on ships in the Gulf appeared "random" and lacked a pattern, aimed at sowing confusion and disruption rather than targeting specific national profiles or vessel types, maritime analysts said.

At least 16 vessels have been struck in waters near the UAE's Fujairah port, Iraq's Khor Al Zubair port and the Gulf of Oman, according to the International Maritime Organization.

Several vessels that were targeted had Western or Gulf-state connections, including links to the U.S., UAE and U.K. through ownership or state registration, according to Windward.

Other affected vessels also included ships arriving from Thailand, Vietnam, and Brazil, indicating "broad targeting of dense commercial shipping lanes rather than a narrow focus on one nationality or operator class," Windward analysts said.

The attacks have followed no discernible pattern, said Bridget Diakun, senior risk and compliance analyst at Lloyd's List Intelligence, which "makes things difficult for people trying to plan any transiting, because they can't work out what the rationale is for one ship getting hit over another," she said in a phone interview with CNBC.

watch now

Shipowners have also scrambled to secure alternative routes, contingency ports or inland transportation networks, setting off a cascade of congestion across the region's secondary hubs.

When the war began, some 81 container vessels were bound for ports along the Strait of Hormuz, according to Kpler. Since then, 43 have rerouted to other Gulf ports, with the rest diverting from the region entirely.

Cargoes have been redirected to ports outside the strait, notably Fujairah and Khor Fakkan in the UAE, and Oman's Sohar, before being moved by truck to their destinations.

— CNBC's Seema Mody contributed to this report.

Breaking Signal·Market Impact: High

Siren (SIREN) jumped 29.54% to $0.7764 on Tuesday, topping the gainers chart as select altcoins outperformed, according to CoinGecko data. MemeCore rose 10.22% to $1.83, while Kaspa added 10.04% to $0.0371. On the downside, Pi Network fell 8.47% to $0.1741 to lead decliners.

Top Gainers Siren (SIREN) rose 29.54% to $0.7764. The move lifted its market capitalization to $563.83M and put the token at the front of the day’s advance. Siren’s token underpins its protocol and governance design. The outsized gain positioned SIREN as the session’s clear outlier among mid-caps.

MemeCore (M) added 10.22% to $1.83. Its market cap now stands at $3.20B, placing it among the day’s largest risers by value as well. No specific news has been tied to the move. The rally kept M on traders’ radar alongside other high-beta names.

Kaspa (KAS) climbed 10.04% to $0.0371. The proof-of-work project leverages a blockDAG approach to enable rapid confirmation and high throughput. Its market capitalization reached $993.37M, leaving KAS just shy of the $1B threshold. The advance extended Kaspa’s tendency toward sharp, liquidity-driven bursts.

Bonk (BONK) gained 4.96% to $0.000007. The Solana-based memecoin has built integrations across wallets and apps within the ecosystem. Its market cap rose to $610.43M amid steady interest in Solana-centric assets. Traders pointed to broader altcoin rotation to explain BONK’s inclusion on the leaderboard.

TRON (TRX) increased 4.18% to $0.3082. With a $29.20B market cap, TRX remains one of the largest layer-1 network tokens by value. TRON’s network is widely used for payments and stablecoin transfers, including large USDT volumes. Today’s move reinforced TRX’s status as a liquid large-cap outperformer among majors.

Top Losers Pi Network (PI) fell 8.47% to $0.1741. The drop brought its market capitalization to $1.70B, making PI the day’s steepest decliner among tracked names. The project promotes a mobile-first mining model and community-driven app ecosystem. There was no clear headline driver during the session.

Pepe (PEPE) declined 5.89% to $0.000004. The Ethereum-based memecoin remains heavily momentum-sensitive, with price action often hinging on liquidity and sentiment in its trading pairs. Its market cap stands at $1.57B after the pullback. Intra-day reversals have been frequent across high-beta meme assets.

Render (RENDER) slipped 5.41% to $1.81. The network connects GPU suppliers with users for distributed rendering and AI workloads, and it migrated its architecture to Solana in 2023. RENDER’s market cap sits at $939.91M, keeping it just under the $1B mark. The drawdown trimmed a portion of recent gains in decentralized compute plays.

Sky (SKY) dropped 5.17% to $0.0740. The token is linked to a large-scale DeFi-focused initiative and a broad app ecosystem. Its market capitalization is now $1.71B following the decline. Catalyst chatter was thin, leaving the move largely attributed to supply-demand imbalances.

Internet Computer (ICP) shed 4.11% to $2.67. Built by DFINITY, the network aims to host web-scale applications directly on-chain via chain-key cryptography and canister smart contracts. ICP’s market cap rests at $1.47B after the slide. No major protocol-specific update hit wires today.

Market Outlook The day’s tape featured a wide dispersion: the top gainer rose 29.54% while the biggest loser shed 8.47%. Large caps weren’t uniform either, with TRON up 4.18% and several billion-dollar names under pressure. Mid-caps like MemeCore and Kaspa posted double-digit gains as memecoins and proof-of-work bets saw fresh interest.

Attention now turns to near-term catalysts, including this week’s FOMC communications and any liquidity shifts that could sway risk appetite. Watch Bitcoin’s range and large-cap alt flows as context for whether today’s selective strength broadens or stays isolated to pockets of momentum.

SourcesCoinGecko

This article was written with AI assistance and reviewed by the The Currency analytics editorial team. Information presented is sourced from publicly available reports. The Currency analytics strives for accuracy but cannot guarantee completeness. This article does not constitute financial advice.

Post Views: 7

Centrifuge [CFG] has surged 39.52% to $0.165 as trading volume exploded over 16,780% within 24 hours, reflecting intense market participation and activity.

Price expansion has accelerated rapidly, and traders have responded with aggressive positioning across both spot and derivatives markets. 

The sharp increase in participation suggests that liquidity has rushed back into CFG after a prolonged quiet phase. 

Besides, volatility has expanded significantly, which often attracts short-term speculative flows. 

However, such rapid expansion also raises questions about sustainability, especially when leverage begins to build alongside price.

Has CFG breakout stalled near resistance? CFG has broken out of an ascending wedge, which typically signals a shift in trend structure toward expansion. 

Price has pushed toward the $0.18 resistance zone, yet rejection has emerged near this level, slowing the upward move. 

The breakout remains valid, though price now tests whether buyers can sustain pressure above prior structure. 

However, the rejection suggests that sellers have started defending higher levels more actively. This behavior indicates that the breakout phase may require consolidation before continuation. 

RSI has held above the 60 level, while cooling slightly from recent highs, indicating that buying pressure remains dominant despite the pullback. 

The indicator has avoided a sharp breakdown, which suggests that buyers have maintained control of the broader structure. 

However, the slight decline shows that the market has entered a cooling phase after rapid expansion. 

The structure still reflects higher lows, which supports bullish intent, yet failure to reclaim $0.18 could introduce short-term instability. 

Therefore, the current setup shows strength, but also highlights a key decision point for continuation.

Source: TradingView Outflows hint at quiet accumulation trend Spot Netflows have remained slightly negative at around -$518K, indicating that more CFG has left exchanges than entered them. 

This pattern often reflects holding behavior, where participants withdraw assets instead of preparing to sell. 

However, the scale of outflows remains relatively modest, which suggests that accumulation has not reached aggressive levels yet. 

The continued negative netflow supports the broader bullish structure, as reduced exchange supply tends to limit immediate selling pressure. 

Furthermore, the lack of large outflows shows that accumulation remains gradual rather than explosive. 

Source: CoinGlass Leverage surge drives derivatives expansion Open Interest has surged by over 1,595%, reaching $11.2M, which highlights a sharp increase in leveraged positioning across derivatives markets. 

This expansion shows that traders have entered aggressively, likely reacting to the rapid price move. 

However, such a steep rise in open interest also introduces risk, as crowded positioning can lead to sharp liquidations. 

The alignment between price growth and leverage buildup suggests that speculative activity has intensified significantly. 

In addition, rising open interest during a breakout phase often amplifies volatility in both directions. 

As a result, the current derivatives structure supports continued activity, yet it also increases the probability of sudden price swings.

Source: CoinGlass Can CFG sustain this breakout? CFG currently holds a strong structure supported by price expansion, steady RSI strength, and consistent outflows. 

However, rising leverage introduces instability. If buyers maintain control above key levels, continuation remains likely. 

Still, crowded derivatives positioning could trigger sharp volatility, which means sustainability depends on controlled expansion rather than aggressive speculation.

Final Summary  CFG shows a strong structural shift, but rising leverage suggests volatility could intensify before any sustained trend continuation emerges.
Price strength remains intact above key zones, yet resistance rejection signals the market needs consolidation before confirming further upside direction.

This Tuesday, March 17, the government of Bhutan moved approximately $27 million in Bitcoin, as reported by Arkham Intelligence. The operation consisted of a series of structured transfers, including a 20.5 BTC shipment to a wallet linked to market maker QCP Capital. This move marks the country’s highest daily activity in weeks, far exceeding the sales recorded at the beginning of the month.

This action reflects a shift in Bhutan’s treasury management strategy, which has seen the sale of over $40 million in BTC since January 2026. Although the country still holds at least 5,000 BTC originating from its hydroelectric-powered mining, the increase in transaction volume suggests a greater need for liquidity or strategic profit-taking, capitalizing on Bitcoin’s recovery to the $75,000 level.

In summary, Bhutan appears to be optimizing its reserves in the face of new post-halving operating costs and the market’s recent bullish streak. The next step will be to monitor whether these massive sales become recurring or if the country maintains its policy of controlled selling.

Source:https://x.com/arkham/status/2033973455465681104

Disclaimer: Crypto Economy Flash News is prepared from official and verified public sources by our editorial team. Its purpose is to provide quick information on relevant facts within the crypto and blockchain ecosystem. This information does not constitute financial advice or investment recommendations. We recommend always verifying the official channels of each project before making related decisions.

Semiconductor chips are seen on a printed circuit board in this illustration picture taken February 17, 2023. REUTERS/Florence Lo/Illustration Purchase Licensing Rights, opens new tab

CompaniesKUALA LUMPUR, March 18 (Reuters) - Semiconductor firms in Malaysia are monitoring risks from disruptions to helium supplies due to the conflict in the Middle ​East, though the situation has not caused any operational interruptions so ‌far, an industry executive told Reuters.

Helium prices have risen sharply due to the disruption of natural gas processing in Qatar by the U.S.-Israel war against Iran. Helium - ​critical for industries such as semiconductors and medical imaging - ​is a byproduct of LNG processing, and any slowdown ⁠in output is expected to affect global supplies.

The Reuters Iran Briefing newsletter keeps you informed with the latest developments and analysis of the Iran war. Sign up here.

Wong Siew Hai, ​the president of the Malaysia Semiconductor Industry Association, said most ​chipmakers globally, including those with operations in Malaysia, have inventories and diversified sourcing that reduce immediate risk.

"While the current situation has heightened awareness and ​heightened risk monitoring, it has not yet translated into clear ​reported supply disruptions for Malaysian semiconductor operations," he said.

"However, Malaysian chipmakers are likely ‌watching ⁠developments and managing risk through diversified sourcing, inventory buffers, and supply chain engagement, similar to their regional peers," he said.

Malaysian companies that focus heavily on packaging, testing and assembly are less exposed ​to helium supply ​risks and ⁠can mostly operate with nitrogen, Wong said.

Malaysia is home to suppliers and factories serving semiconductor makers like Intel Corp (INTC.O), opens new tab and ​Europe's Infineon (IFXGn.DE), opens new tab and STMicroelectronics (STMPA.PA), opens new tab. About 7% of the ​world's ⁠semiconductor trade passes through the country, which also accounts for about 13% of global chip assembly, testing and packaging.

Fitch Ratings said in a note ⁠on Tuesday ​that Asia's semiconductor supply chain faces ​rising risks from helium supply strains as the Iran conflict drags on, with credit risk to worsen ​if the shortages exceed inventory buffers.

Reporting by Rozanna Latiff; Editing by David Stanway

Our Standards: The Thomson Reuters Trust Principles., opens new tab

XRP gains clearer regulatory footing as U.S. authorities explicitly include it among digital commodities in new SEC guidance, aligning it with major crypto assets like bitcoin and ether while reinforcing a shift toward function-based oversight that could reshape how investors evaluate risk, value drivers, and long-term market positioning.

Bitcoin price started a strong increase and traded above the $75,500 zone. BTC is now consolidating and might aim for more gains if it clears $76,000.

Bitcoin started a decent upward move above the $75,000 zone. The price is trading above $73,500 and the 100 hourly simple moving average. There is a bullish trend line forming with support at $72,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might continue to rise if it clears the $75,000 and $76,000 levels. Bitcoin Price Starts Consolidation Bitcoin price remained supported and extended its increase above the $73,500 level. BTC climbed above the $74,200 and $74,500 resistance levels.

The bulls were able to pump the price above $75,000. A high was formed at $75,998, and the price recently corrected some gains. There was a move below the 23.6% Fib retracement level of the recent upward move from the $70,292 swing low to the $75,998 high.

Bitcoin is now trading above $73,500 and the 100 hourly simple moving average. Besides, there is a bullish trend line forming with support at $72,000 on the hourly chart of the BTC/USD pair.

Source: BTCUSD on TradingView.com If the price remains stable above $72,000, it could attempt a fresh increase. Immediate resistance is near the $75,000 level. The first key resistance is near the $75,500 level. A close above the $75,500 resistance might send the price further higher. In the stated case, the price could rise and test the $76,200 resistance. Any more gains might send the price toward the $77,500 level. The next barrier for the bulls could be $78,000.

Downside Extension In BTC? If Bitcoin fails to rise above the $75,000 resistance zone, it could start another decline. Immediate support is near the $73,800 level. The first major support is near the $73,150 level or the 50% Fib retracement level of the recent upward move from the $70,292 swing low to the $75,998 high.

The next support is now near the $72,000 zone and the trend line. Any more losses might send the price toward the $71,650 support in the near term. The main support now sits at $71,200, below which BTC might struggle to recover in the near term.

Technical indicators:

Hourly MACD – The MACD is now losing pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.

Major Support Levels – $73,800, followed by $73,150.

Major Resistance Levels – $75,000 and $76,200.

XRP is showing signs of a potential trend reversal as a multi-cycle triple bottom formation begins to take shape on the macro chart. This rare structure suggests that selling pressure may be nearing exhaustion, with price stabilizing around key support levels. As the pattern approaches completion, attention is shifting to whether this setup could mark the end of the downtrend and the start of a new bullish phase.

XRP Forms Rare Multi-Cycle Triple Bottom Structure Charting the macro structure, EGRAG CRYPTO highlighted that the XRP chart is forming a pattern that many market participants may be overlooking, a multi-cycle triple bottom formation. Patterns like this carry weight because markets move in repeating cycles rather than random chaos, and XRP now appears to be approaching what could be the final phase of this long-term setup.

From a structural perspective, the chart reveals three major base formations developing over several months, while price continues to respect its broader trendline and moving average structure. Furthermore, the current price action is believed to represent the final descending phase of the pattern, typically defined as the ABC corrective structure.

Source: Chart from EGRAG CRYPTO on X If this interpretation proves accurate, XRP could be nearing the completion of its final corrective leg, known as wave C. Also, this stage often marks the exhaustion of selling pressure, suggesting that the market may be approaching a key inflection point where a shift from correction to expansion becomes more likely.

The most important area to watch lies around the $0.91 level, which stands out as a strong confluence zone. This region is supported by the 0.618 Fibonacci retracement, previous structural demand, and its alignment with the final leg of the correction. These factors make it a high-probability zone for a potential final liquidity sweep before the market attempts a broader bullish expansion.

Reclaim Of $1.65 Could Confirm Structural Shift EGRAG CRYPTO went on to reveal that the first clear macro signal of a bullish shift lies at the $1.65 level. A strong and sustained reclaim of this level on the weekly timeframe would be significant, as it would break the ongoing descending corrective structure and signal that the triple bottom formation is nearing completion.

Once this structural barrier is broken, the chart begins to open up for the next phase of macro expansion. At that stage, upside targets would start aligning with higher Fibonacci extension levels, while fitting within the broader cycle structure that typically follows a completed accumulation pattern. 

In simple terms, the setup provides a clear roadmap for what to watch next. The $0.91 region represents a possible final bottom zone, $1.65 acts as the first major confirmation of strength, and a confirmed break of the descending structure would mark the transition into a new expansion phase.

XRP trading at $1.51 on the 1D chart | Source: XRPUSDT on Tradingview.com Featured image from Adobe Stock, chart from Tradingview.com

Bitcoin is currently trading near $74,372, after reaching an intraday high on Tuesday that approached $76,000. Data from Santiment and CryptoQuant reveal that this move into the green zone was driven by a solid recovery above $70,000, which triggered the liquidation of short positions and a massive shift toward long positions in the perpetual futures market, reflecting growing optimism among traders.

The change in market structure occurs on the eve of the Federal Reserve’s decision, with funding rates turning positive. Buying volume is outpacing selling volume, supported by a massive accumulation from whales who purchased more than 40,000 BTC—approximately $2.92 billion—in the last week. However, MVRV metrics suggest short-term caution due to potential profit-taking, while long-term support remains firm.

In summary, Bitcoin is in a critical resistance zone between $75,000 and $85,000. The success of this rally will depend on whether demand in the spot market continues to lead conviction over derivatives.

Source:https://short.do/1FhVJz

Disclaimer: Crypto Economy Flash News is prepared from official and verified public sources by our editorial team. Its purpose is to provide quick information on relevant facts within the crypto and blockchain ecosystem. This information does not constitute financial advice or investment recommendations. We recommend always verifying the official channels of each project before making related decisions.

Bitcoin's rally took a breather on Tuesday as investors positioned themselves ahead of the Federal Reserve's highly anticipated interest rate decision on Wednesday. After briefly surging past $76,000 overnight, BTC retreated to around $74,000 during the U.S. trading session, posting modest gains over the prior 24 hours.

Crypto-related equities largely edged higher, with stablecoin issuer Circle (CRCL) and bitcoin miner Bitdeer (BTDR) outperforming the broader market with gains of 5% and 12%, respectively. Meanwhile, the Nasdaq rose 0.5% and the S&P 500 gained 0.25%, reflecting cautious optimism across risk assets.

Markets are almost unanimously pricing in a Fed hold, with benchmark interest rates expected to remain steady at 3.50%–3.75%. The real focus, however, is on Fed Chair Jerome Powell's forward guidance and how policymakers plan to navigate a complex inflation landscape — particularly given rapidly rising oil prices tied to escalating conflict in Iran and their potential inflationary impact.

Analysts at Bitfinex highlighted that the pivotal question is whether the Fed still projects rate cuts in 2026 or signals a pause on further monetary easing. A hawkish tone could strengthen the U.S. dollar and pressure risk assets like Bitcoin. Powell's characterization of the oil price surge will also be closely watched — framing it as a temporary shock could support sentiment, while a stagflation-leaning outlook might constrain future policy flexibility.

Wednesday also brings the February Producer Price Index report. Though typically less market-moving than the Consumer Price Index, its proximity to the Fed decision elevates its significance this week. Bitfinex warns that a hot PPI reading combined with a hawkish FOMC outcome would be the most damaging scenario for equities and crypto.

According to K33 Research's Vetle Lunde, the probability of rates holding steady through July has climbed to over 60%, up from 22% the previous month, with rate cuts now pushed to late 2026. Until clarity emerges, Bitcoin is expected to consolidate within the $74,000–$76,000 range.

<Copyright ⓒ TokenPost, unauthorized reproduction and redistribution prohibited>

The Royal Government of Bhutan executed its largest single-day Bitcoin movement in recent weeks on March 17, transferring nearly $27 million worth of BTC across multiple on-chain transactions, according to data from Arkham Intelligence.

The activity involved two substantial transfers to new wallet addresses, along with a separate 20.5 BTC transaction worth approximately $1.5 million routed to a wallet associated with QCP Capital, a prominent crypto market maker. The structured, multi-transaction approach points to deliberate, staged selling rather than a one-time liquidation event.

This latest movement surpasses Bhutan's earlier March activity, when the government offloaded roughly 175 BTC — valued at around $12 million — in a single tranche. More broadly, the country has moved or liquidated over $40 million in Bitcoin since January 2026, consistently opting for smaller, periodic batches that minimize market disruption.

Despite the increased selling activity, Bhutan retains a significant Bitcoin reserve estimated at more than 5,000 BTC. The nation built this position largely through state-sponsored mining operations fueled by its abundant hydropower resources, giving it an exceptionally low-cost production base.

Even so, the uptick in transfer volumes is drawing attention. Analysts suggest the shift toward larger transactions could reflect rising government liquidity demands or a more proactive approach to digital asset treasury management. The economics of Bitcoin mining have also grown more challenging following the April 2024 halving event, which effectively doubled production costs and may be incentivizing Bhutan to monetize previously mined holdings.

These moves coincide with a broader Bitcoin market recovery. BTC climbed to $75,000 earlier today, reaching a two-month high on the back of renewed institutional interest, fresh inflows into U.S. spot Bitcoin ETFs, and notable accumulation by large-scale investors. Whether Bhutan continues accelerating its sell-off or returns to smaller tranches remains to be seen.

<Copyright ⓒ TokenPost, unauthorized reproduction and redistribution prohibited>

At press time, GRASS has surged over 28% in the past 24 hours, pushing its price toward the $0.47 region as buyers regain firm control. This rally follows a steady climb from lower consolidation zones, signaling strong directional intent. 

Trading activity has risen alongside price, reinforcing the bullish structure. However, the asset now trades near a key resistance zone, introducing immediate pressure. While strong demand has fueled the sharp advance, GRASS faces a critical test of whether buyers can sustain momentum without weakening.

GRASS tests resistance after reclaiming support GRASS approaches the $0.475 resistance after reclaiming the $0.358 support zone, confirming a clear structural shift. Buyers have regained control following a prolonged corrective phase, which strengthens the current outlook. 

Price has advanced through intermediate levels, supporting the continuation narrative. However, the $0.475 zone now stands as a key barrier that could limit further upside. 

A clean move above this level could expose higher resistance near $0.658. Still, rejection at this point could trigger short-term consolidation. Even so, the strong reclaim of $0.358 continues reinforcing bullish control across the structure.

At press time, the Bollinger Bands have expanded sharply as volatility increases following a compression phase. Price continues riding the upper band, which reflects sustained buying pressure and trend strength. This positioning often signals continuation, especially when price holds near elevated levels.

At the same time, RSI has climbed to 78.69, while its signal line remained at 69.53, confirming strong demand. However, these readings place the asset deep in overbought territory. 

This condition could introduce short-term cooling, although it does not invalidate the current trend. As long as the price holds near the upper band, buyers continue maintaining control.

Source: TradingView Why are traders increasing long exposure? Binance top traders have increased long exposure, with long positions reaching 58.35% compared to 41.65% shorts. 

This shift reflects growing confidence in continued upside movement. The Long/Short Ratio has climbed toward 1.40 as of writing, which further supports this directional bias. 

As traders continue positioning aggressively, the derivatives market aligns with the current price structure. However, elevated long exposure can introduce risk if sentiment shifts quickly. 

Even so, the data shows that traders are still backing the breakout rather than anticipating a reversal. This alignment between sentiment and price strengthens the continuation case.

Source: CoinGlass Liquidity above $0.48 signals the next move The liquidation heatmap shows dense liquidity clusters forming above the $0.48 region. These zones represent areas where leveraged positions could face forced liquidation. As the price moves closer to these levels, it often gets drawn toward them due to market dynamics. 

A break above nearby resistance could trigger cascading liquidations that accelerate the move higher. However, failure to reach these zones could keep the price consolidating below resistance. 

Still, the presence of stacked liquidity above current levels suggests that the market has a clear upside target forming in the short term.

Source: CoinGlass Will GRASS extend beyond resistance? GRASS continues showing strong upside intent as price presses against the $0.475 resistance while bullish positioning remains dominant. Liquidity stacked above $0.48 supports a potential continuation move if buyers sustain pressure. 

However, overbought signals could slow the pace temporarily. If strength holds, price could extend toward $0.49 and gradually test higher resistance zones.

Final Summary Sustained buyer control and rising leverage positioning suggest GRASS could continue climbing if resistance weakens ahead.  Overbought conditions may slow prices briefly, yet strong structure still favors gradual upside continuation toward higher liquidity zones.

TL;DR:

Ripple Labs is developing a native oracle to connect traditional banking data with the blockchain, directly targeting Chainlink’s (LINK) current dominance. The Real-World Asset (RWA) market, valued at $25 billion, is the primary target following the massive adoption of tokenization by firms like BlackRock. The 2025 implementation of the ISO 20022 standard positions XRP as a strategic bridge for SWIFT institutions to settle payments interoperably. The digital finance ecosystem is witnessing an unprecedented technical race. Ripple is quietly developing an oracle designed to query banking ledger data, seeking to position XRP as the ultimate resource for global banking against solutions like Chainlink.

Don’t forget that Chainlink isn’t the only one that provides oracles.😏💨

“Ripple (XRP) is currently building an oracle that can query data from existing bank ledgers.”✅

Documented.📝👇 pic.twitter.com/Bn1nzlwHTu

— SMQKE (@SMQKEDQG) March 16, 2026 This strategic move comes as the tokenized asset (RWA) market reaches a capitalization of $25 billion. Unlike other systems, Ripple’s oracle seeks to offer high-precision on-chain real-value quantification, taking advantage of the fact that the XRP Ledger began testing on SWIFT payment rails back in 2025.

Interoperability and the ISO 20022 Standard The competition is intensifying because, although Chainlink possesses the Cross-Chain Interoperability Protocol (CCIP), payments are not always settled in its native token. In contrast, Ripple’s infrastructure features native support for the ISO 20022 messaging standard, facilitating direct integration with banks using SWIFT.

Consequently, the ability of this new oracle to reflect the real prices of physical assets could be the catalyst that financial institutions have been waiting for. It is anticipated that by the end of the first quarter of 2026, most SWIFT-associated banks will adopt data models compatible with this technology.

However, the regulatory landscape continues to present challenges. Uncertainty surrounding the Clarity Act could trigger delays in institutional adoption despite technical progress.

In summary, the development of this oracle marks a turning point where Ripple evolves from just a payment network into a fundamental data layer for the global economy.

Leading cryptocurrencies pulled back, while stocks extended their rally on Tuesday as traders priced in little to no possibility of rate cuts.

Crypto Rally HaltsBitcoin cooled down after Monday’s spike, retreating to the $73,000 region, while trading volume fell 20% over the last 24 hours.

Ethereum‘s rally also halted, as the second-largest cryptocurrency wobbled in the $2,300 region. XRP and Dogecoin also faced a correction.

Over $200 million was liquidated from the cryptocurrency market over the past 24 hours, hitting long positions hardest, according to Coinglass data.

Open interest in Bitcoin futures fell 3.94% in the last 24 hours. More than half of Binance’s retail derivatives traders positioned short on Bitcoin, contrasting with the majority of whale traders who favored the longs.

"Fear" sentiment prevailed in the market, according to the Crypto Fear & Greed Index.

Top Gainers (24 Hours) 

The global cryptocurrency market capitalization stood at $2.57 trillion, following a jump of 4.48% over the last 24 hours.

Stocks Climb Higher Ahead Of Fed DecisionStocks added to their gains on Tuesday. The Dow Jones Industrial Average lifted 46.85 points, or 0.1%, to end at 46,993.26. The S&P 500 rose 0.25% to 6,716.09, while the tech-heavy Nasdaq Composite spiked 0.47% to close at 22,479.53.

West Texas Intermediate crude prices traded around $95 per barrel, while Brent crude hit $103 per barrel, as several NATO allies declined Trump's invitation to join military operations to secure the Strait of Hormuz.

In other news, the Federal Reserve’s policy decision on rate cuts arrives Wednesday, with traders overwhelmingly betting against any changes, according to the CME FedWatch tool.

Path To Upside Volatility Open, Says AnalystLeading cryptocurrency analyst and trader Ali Martinez stated that for Bitcoin's bullish momentum to sustain, it must hold $73,344 as support.

They projected $79,234 and $85,555 as targets, adding that the "path to upside volatility is now open."

On-chain analytics firm CryptoQuant noted perpetual futures traders turning bullish ahead of the Fed decision

"Short traders were liquidated as Bitcoin rallied above $70,000, and new long positions were opened above $73,000, indicating traders are positioning for further short-term upside," CryptoQuant added.

Photo Courtesy: Marc Bruxelle on Shutterstock.com

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© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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TL;DR

Solana targets the critical $100 psychological barrier with strong bullish momentum. The weekly chart shows a powerful macro bottom signal with higher lows. Goldman Sachs led a massive $107 million investment into Solana ETFs. Solana (SOL) trades in a defined range as traders assess a near-term move toward the $100 level. At the time of writing, the token changes hands between $93.50 and $95.66, with price action maintaining upward pressure during recent sessions.

In the short term, analysts place their base case between $100 and $105 before the end of March. This projection follows a sequence of higher lows formed since early March, a pattern that shows buyers accepting higher prices over time. In direct terms, demand holds while selling pressure weakens, which supports continuation.

SOL moved above $92, which had acted as resistance, and now traders track the next barriers at $96 to $98, followed by the $100.15 level. A break above $100.15 with volume can open the path toward $105 and $110, based on current positioning.

The Relative Strength Index holds near 59 to 62, which places it in a neutral-to-bullish zone with room for continuation. At the same time, the MACD shows a pause in momentum. This type of pause often appears before continuation moves, although short consolidation remains possible.

Goldman Sachs participated in a $107 million allocation linked to Solana exchange-traded products, while total institutional inflows reached $540 million in the last quarter. This capital base tends to reduce downside volatility, as it represents longer holding periods.

A Balanced Look at the Bull and Cautionary Cases As SOL approached $94, more than $16 million in short positions were liquidated. Short liquidations force buybacks, which add direct demand and accelerate price movement in the short term.

New projects continue to launch, and transaction fees have increased alongside usage, indicating ongoing throughput. At the same time, the Network Value to Transaction (NVT) ratio shows price growth outpacing on-chain activity, which can precede corrections under certain conditions.

From a risk standpoint, the structure remains intact while SOL holds above $90 to $92, which acts as immediate support. Below that, a stronger floor sits between $88 and $89.50. A drop below $88 would weaken the current trend and expose $85, based on current levels. On the upside, a confirmed move above $100 shifts attention to $105 and potentially $110 to $116.

Questions around U.S. classification of digital assets continue to influence long-term positioning, particularly among institutional participants.

For now, Solana trades at a decision point below $100, where resistance and support define the next move. If buyers sustain pressure above $100, the path toward higher levels remains open; if not, consolidation may extend before another attempt.

Is Ripple [XRP] becoming a better option than Binance Coin [BNB]?

The crypto market’s recent rebound has resulted in a restructuring of positions for the top-capped altcoins. These top cap coins showed strength, with most of them breaking out of the consolidations that went on throughout the month of February.

In particular, XRP gained about 2.60% in the past 24 hours, taking the weekly change to more than 7%. How did this impact the positions of different crypto market caps?

XRP flips BNB by market cap As per data from CoinGecko, the market cap of XRP rose to about $92.37 billion, flipping that of BNB, which was at $91.58 billion.

This flip put XRP as the fourth most capped crypto behind Bitcoin [BTC], Ethereum [ETH], and Tether’s USDT. BNB has been holding the fourth position since the 7th of October, 2025.

However, this lead may not last, as the gap separating them was less than a billion in capital. This race remained very tight.

Source: CoinMarketCap Such a flip happened after massive capital inflows, indicating participants preferred XRP to BNB.

What’s next after the price breakout? Looking at the charts, XRP has been trading inside a range for more than a month but broke above this consolidation.

The Bollinger Bands (BB) were opening up, indicating increasing volatility in the upside direction. The Directional Movement Index (DMI), whose Average Directional Index (ADX) was rising, supported the bullish trend.

However, XRP was rejecting this sideways consolidation breakout. Only holding above the range would ascertain that the altcoin may hit levels near $1.90, which was the lower high that produced this year’s low of $1.12.

Source: XRP/USDT on TradingView Such a breakout puts $1.85 or higher levels in sight, as backed by analyst Ali Martinez. In his analysis, the altcoin broke above a triangle pattern, aligning with an earlier prediction of a 30% move.

Hitting $1.85 remains in question as the ETF inflow data contrasts this outlook.

XRP ETFs record outflows for the sixth day XRP ETFs recorded the sixth consecutive day of outflows, with the previous day’s fueled by 21Shares’ TOXR.

As per SoSoValue, traders withdrew about $5.98 million from TOXR, while other XRP ETFs recorded zero flows. TOXR net inflow was red, while others were all green.

The trend indicated there was competition from other ETFs like Ethereum and Bitcoin, which were back to green over the past five days. Still, prices of the products were up by more than 9% as cumulative net inflow remained around $1.2 billion.

Source: SoSoValue The outflows indicated weak short-term demand for ETFs as capital rotation remained limited. Therefore, this could be a hurdle going forward, thus affecting the price of the native token, XRP.

Final Summary  XRP flips BNB by market cap, but the contest remains tight.  XRP breaks out, but ETF outflows may hinder further price appreciation. 

Chord Energy ( NASDAQ:CHRD ) has spent the past year proving it can squeeze more oil out of the Williston Basin for less money, and it recently hit its goal of 80% long-lateral inventory ahead of schedule.

Shares of Nebius Group (NBIS 10.78%) pulled back on Tuesday after the cloud platform operator disclosed its plans to issue debt to fund its massive infrastructure build-out.

Image source: Getty Images.

Supplying the AI giants with vital computing resources Prior to Tuesday, Nebius' stock price was up more than 350% over the prior 12 months, following blockbuster deals with multiple artificial intelligence (AI) leaders.

In September, Nebius reached an agreement to supply Microsoft with computing capacity valued at up to $19 billion over five years.

Last week, Nebius announced a $2 billion investment from Nvidia to accelerate the development of high-performance computing infrastructure.

And just yesterday, Nebius' shareholders celebrated news of another 5-year deal valued at up to $27 billion to supply AI capacity to Meta Platforms.

Today's Change

(

-10.78

%) $

-13.99

Current Price

$

115.86

Data centers are expensive However, today, investors cringed as the costs of building these facilities became more apparent.

Nebius said it plans to issue $3.75 billion in convertible senior notes in a private offering. It intends to use the proceeds to fund the construction of data centers and the advanced AI chips required to power them.

Shareholders are likely concerned about the potential dilution of their equity stakes in Nebius if debt holders convert their notes into shares.

Ultimately, the debt sale is a reminder that Nebius' enormous infrastructure expansion plans won't be cheap -- and that it's not certain that the projected benefits will outweigh the costs.

Joe Tenebruso has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Meta Platforms, Microsoft, and Nvidia. The Motley Fool has a disclosure policy.

, /PRNewswire/ -- 

Why: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Apollo Global Management, Inc. (NYSE: APO) between May 10, 2021 and February 21, 2026, both dates inclusive (the "Class Period"), of the important May 1, 2026 lead plaintiff deadline in the securities class action first filed by the Firm.

So what: If you purchased Apollo Global securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

What to do next: To join the Apollo Global class action, go to https://rosenlegal.com/submit-form/?case_id=1323 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than May 1, 2026. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

Why Rosen Law: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm achieved the largest ever securities class action settlement against a Chinese Company at the time. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.

Details of the case: According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) defendants Marc Rowan and Leon Black, among other leadership figures at Apollo Global, frequently communicated with Jeffrey Epstein in the 2010s regarding Apollo Global's business; (2) as a result, Apollo Global's assertion that Apollo Global had never done business with Jeffrey Epstein was untrue; (3) because of the entanglement between Apollo Global's leaders and Jeffrey Epstein, the harm to Apollo Global's reputation was more than a mere possibility; and (4) as a result, defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all times. When the true details entered the market, the lawsuit claims that investors suffered damages. 

To join the Apollo Global class action, go to https://rosenlegal.com/submit-form/?case_id=1323 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

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New York, NY 10016
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SOURCE THE ROSEN LAW FIRM, P. A.

New York, New York--(Newsfile Corp. - March 17, 2026) - WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of ordinary shares of uniQure N.V. (NASDAQ: QURE) between September 24, 2025 and October 31, 2025, inclusive (the "Class Period"), of the important April 13, 2026 lead plaintiff deadline.

SO WHAT: If you purchased uniQure ordinary shares during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the uniQure class action, go to https://rosenlegal.com/submit-form/?case_id=53025 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than April 13, 2026. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved, at that time, the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants misrepresented and/or failed to disclose that: (1) the design of uniQure's Pivotal Study (a study of uniQure's leading drug candidate in patients with Huntington's Disease) - including comparison of the Pivotal Study results to the ENROLL-HD external historical data set- was not fully approved by the U.S. Food and Drug Administration (the "FDA"); (2) defendants downplayed the likelihood that, despite purportedly highly successful results from the Pivotal Study, uniQure would have to delay its Biologics License Application ("BLA") timeline to perform additional studies to supplement its BLA submission; and (3) as a result, defendants' statements about uniQure's business, operations, and prospects lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the uniQure class action, go to https://rosenlegal.com/submit-form/?case_id=53025 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

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OSI Systems, Inc. (OSIS) JPMorgan Industrials Conference 2026 March 17, 2026 3:40 PM EDT

Company Participants

Alan Edrick - Executive VP & CFO

Conference Call Participants

Seth Seifman - JPMorgan Chase & Co, Research Division

Presentation

Seth Seifman
JPMorgan Chase & Co, Research Division

Good afternoon, everyone. Welcome back to the aerospace and defense track here at the JPMorgan Industrials Conference. I'm Seth Seifman, the aerospace and defense equity analyst here. And we are very grateful to have with us OSI Systems. And we're here with CFO, Alan Edrick. And Alan is going to talk with us about the company. We're going to do a fireside chat, a little bit of Q&A, and we'll ask in the audience for some questions as well. But Alan, thanks very much for coming. I appreciate it.

Alan Edrick
Executive VP & CFO

Thank you. Thank you for having us.

Question-and-Answer Session

Seth Seifman
JPMorgan Chase & Co, Research Division

Cool. Maybe stepping back before we get into the detailed questions, if you just kind of want to set the scene in terms of where things stand for the company this year, the growth prospects that you see, kind of what you guys are excited about?

Alan Edrick
Executive VP & CFO

Yes. It's been a great year for OSI Systems. We are a June 30 fiscal year, so we reported half of our year and coming up on our 3-quarter mark right now. Over the last few years, we've experienced very strong growth, both on the top line and the bottom line, and that has continued into this year with strong revenues, strong bookings and strong profits.

So we're excited and the prospects ahead of us are very exciting. We've been growing quite a bit internationally. And while those prospects still remain very, very robust, we think