Market Signal Briefing

Ripple is expanding its enterprise blockchain platform with integrated stablecoin payments, custody, and global liquidity tools, positioning itself as a one-stop infrastructure provider as institutions accelerate adoption of regulated digital asset solutions worldwide.

Dogecoin ETFs are continuing to struggle for traction, with the latest data showing zero daily net inflows across all listed funds. According to Sosovalue data, the three spot Dogecoin ETFs issued by Grayscale, 21Shares, and Bitwise recorded $0 in daily net inflows. While there has been some trading activity, overall investor demand remains muted.

Since February 3, Dogecoin ETFs have consistently posted zero net inflows, reflecting a broader cooling in interest around the meme-based cryptocurrency. During this period, total daily trading volume ranged between $150,000 and $1.37 million, signaling limited but steady activity. This pattern is not new. Throughout December and January, spot Dogecoin ETFs largely reported no daily net inflows, with only a handful of sessions seeing modest inflows that were often offset by outflows shortly after.

The slow momentum was evident from the beginning. Grayscale’s spot Dogecoin ETF (ticker: GDOG) launched with approximately $1.4 million in first-day trading volume. While notable, the figure fell short of analysts’ expectations and lagged behind the strong demand typically seen in spot Bitcoin ETFs and Ethereum ETFs. Market observers had anticipated stronger participation given Dogecoin’s brand recognition and active retail community.

Dogecoin’s price performance has also weighed heavily on ETF flows. The cryptocurrency has declined for five consecutive months since September 2025 and closed the first two months of 2026 in negative territory. This extended downtrend has dampened investor sentiment and reduced appetite for exposure through exchange-traded funds.

As crypto market volatility persists, Dogecoin ETFs may continue to face challenges attracting fresh capital. Until price momentum improves and broader market conditions stabilize, inflows into spot Dogecoin ETFs are likely to remain subdued, reflecting cautious investor behavior in the digital asset market.

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A stupendous amount of Shiba Inu tokens is gone from major platforms: sign of scarcity or losing relevance?

Market Sentiment:

Bullish Bearish Neutral

Published: March 4, 2026 │ 12:18 AM GMT

Created by Gabor Kovacs from DailyCoin

Since the start of 2026, Shiba Inu’s (SHIB) reserves on major platforms have dramatically dried up. Judging from the latest CryptoQuant data, this figure dropped by over 1.6 trillion tokens since mid January, hinting at a looming supply crunch for the popular meme currency.

Shiba Inu’s Holder Behavior Change DecipheredThis came around the same time as one ancient crypto currency whale decided to cash out $394,000 worth of Shiba Inu coins from CoinOne platform. The gradually drying out liquidity is noticeable across many major crypto platforms, including Binance & Coinbase.

The overall exchange reserve just plunged to 80.9 trillion, as the year 2026 kicked off with roughly 82.5 trillion on exchanges. This resembles a change in a typical SHIB holder’s behavior – instead of speculation on the dog-embossed meme coins price, holders perceive it as a long term investment vehicle.

Shiba Inu’s Short-Sellers Throw Shade At SHIBIf met with proper trading activity, this could induce a supply crunch. On the other hand, the geopolitical tensions including ongoing beef between USA & Iran has pushed the Crypto Fear & Greed Index back to ‘extreme fear’ levels, while rising crude oil prices & crashing stocks are expected to eventually reflect on major-cap coins, including Shiba Inu (SHIB).

Looking on the Futures side, the participants of this speculative market are leaning towards a bigger Shiba Inu price dip in the near term, rather than an immediate rebound.

The long versus short ratio points to 0.91, meaning that Shiba Inu’s (SHIB) short-sellers outnumber the bulls, even though the OI-weighted funding rate has just reclaimed green territory, measured by the real-time data from CoinGlass.

Dropping another 3% this Tuesday, Shiba Inu must reclaim $0.000006 in order to push the bears away. However, the global uncertainty makes it difficult to assess price levels solely on technical financial instruments, as most market participants hibernate in ‘wait & see’ mode.

Dig into DailyCoin’s hottest crypto scoops right now:
XRP Analyst Ties ETF Demand and Metal Selloff to Next Leg Higher
Machi Reloads ETH Price Play After Going From $44M To Deep Red

People Also Ask:What does “1.6T SHIB left exchanges” mean?

It means a huge amount (around 1.6 trillion SHIB tokens) was withdrawn from trading platforms (like Binance, Coinbase) to personal wallets recently.

How does this compare to the start of 2026?

At the beginning of the year, exchange reserves were higher (around 82.5 trillion SHIB or more in some trackers.

What’s the total SHIB supply look like now?

Circulating supply is around 589–590 trillion SHIB (huge number, which keeps price low). Exchange reserves are a tiny slice (~80.9T out of that).

Should I buy SHIB because of this?

Outflows like this create short-term hype and can support price bounces, but SHIB is still a high-risk meme coin — price can swing wildly.

DailyCoin's Vibe Check: Which way are you leaning towards after reading this article?

Market Sentiment

100% Bullish

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Billionaire investor Ray Dalio has warned against Bitcoin as a long-term store of value and safe-haven asset, arguing that it has little central bank support and has lingering concerns over its privacy limitations and quantum resistance.

Dalio dismissed the idea that Bitcoin (BTC) can function as a digital gold, telling the All-In Podcast on Tuesday that “there is only one gold.”

"Gold is not a precious metal that's speculated on,” Dalio said, adding it is the “most established money” that is the second-largest reserve currency held by central banks.

Dalio added he doesn’t see why central banks would want to buy Bitcoin and hold it over the long term.

Dalio speaking on the All-In Podcast on Tuesday. Source: All-In PodcastDalio has previously said that Bitcoin has hard money characteristics and noted that it continues to “have a pretty high correlation with tech stocks.”

“So, from an ownership perspective, supply and demand can be affected if somebody gets squeezed in one area and has to sell something else they hold."Dalio also raised concerns about Bitcoin’s lack of privacy, stating “any transaction can be monitored,” and warned that quantum computing could threaten the network.

In July, Dalio recommended a 15% portfolio allocation into Bitcoin or gold to optimize for the “best return-to-risk ratio” in light of America’s crippling debt problem and continued currency debasement.

Between July and early October, Bitcoin and gold were both on the rise until a broader crypto market crash wiped out nearly $20 billion in leveraged positions.

The pair then decoupled in early October, with Bitcoin falling over 45% since its October peak to $68,420, while gold has continued to rally, climbing over 30% to $5,120 in that timeframe.

Dalio says the world as we know it has changedDalio sent a message to investors last month, warning that the “World Order,” one led by the US for the best part of a century, had “broken down,” and that investors must rethink how they protect their wealth amid rising geopolitical conflict and economic disorder.

Dalio reinforced his long-held position that stores of value, particularly gold, are the best option to preserve wealth when currencies falter and credit systems break down, while debt assets become vulnerable as uncertainty rises.

Magazine: Is China hoarding gold so yuan becomes global reserve instead of USD?

Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently. Read our Editorial Policy https://cointelegraph.com/editorial-policy

Southern Copper (SCCO - Free Report) ended the recent trading session at $206.23, demonstrating a -5.77% change from the preceding day's closing price. The stock fell short of the S&P 500, which registered a loss of 0.94% for the day. Meanwhile, the Dow lost 0.83%, and the Nasdaq, a tech-heavy index, lost 1.02%.

The stock of miner has risen by 13.51% in the past month, leading the Basic Materials sector's gain of 12.9% and the S&P 500's loss of 1.3%.

Analysts and investors alike will be keeping a close eye on the performance of Southern Copper in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $1.88, reflecting a 57.98% increase from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $3.87 billion, indicating a 23.93% increase compared to the same quarter of the previous year.

For the full year, the Zacks Consensus Estimates are projecting earnings of $6.57 per share and revenue of $14.56 billion, which would represent changes of +25.38% and +8.5%, respectively, from the prior year.

Any recent changes to analyst estimates for Southern Copper should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.

Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.

The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 3.1% higher. At present, Southern Copper boasts a Zacks Rank of #3 (Hold).

In terms of valuation, Southern Copper is currently trading at a Forward P/E ratio of 33.31. This represents a premium compared to its industry average Forward P/E of 29.74.

One should further note that SCCO currently holds a PEG ratio of 2.26. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. By the end of yesterday's trading, the Mining - Non Ferrous industry had an average PEG ratio of 2.26.

The Mining - Non Ferrous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 90, which puts it in the top 37% of all 250+ industries.

The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.

In the latest close session, Freeport-McMoRan (FCX - Free Report) was down 3.98% at $65.57. This change lagged the S&P 500's daily loss of 0.94%. At the same time, the Dow lost 0.83%, and the tech-heavy Nasdaq lost 1.02%.

The stock of mining company has risen by 12.39% in the past month, lagging the Basic Materials sector's gain of 12.9% and overreaching the S&P 500's loss of 1.3%.

Analysts and investors alike will be keeping a close eye on the performance of Freeport-McMoRan in its upcoming earnings disclosure. The company's upcoming EPS is projected at $0.52, signifying a 116.67% increase compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $5.71 billion, showing a 0.23% drop compared to the year-ago quarter.

In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $2.55 per share and a revenue of $27.65 billion, indicating changes of +44.07% and +6.7%, respectively, from the former year.

Investors should also note any recent changes to analyst estimates for Freeport-McMoRan. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 8.8% increase. Right now, Freeport-McMoRan possesses a Zacks Rank of #3 (Hold).

Digging into valuation, Freeport-McMoRan currently has a Forward P/E ratio of 26.76. This signifies a discount in comparison to the average Forward P/E of 29.74 for its industry.

It is also worth noting that FCX currently has a PEG ratio of 0.79. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Mining - Non Ferrous industry stood at 2.26 at the close of the market yesterday.

The Mining - Non Ferrous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 90, which puts it in the top 37% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

Li Auto Inc. Sponsored ADR (LI - Free Report) closed the most recent trading day at $17.06, moving -2.9% from the previous trading session. The stock trailed the S&P 500, which registered a daily loss of 0.94%. At the same time, the Dow lost 0.83%, and the tech-heavy Nasdaq lost 1.02%.

The company's stock has climbed by 6.23% in the past month, exceeding the Auto-Tires-Trucks sector's loss of 2.16% and the S&P 500's loss of 1.3%.

Analysts and investors alike will be keeping a close eye on the performance of Li Auto Inc. Sponsored ADR in its upcoming earnings disclosure. The company's earnings report is set to go public on March 12, 2026. It is anticipated that the company will report an EPS of $0.05, marking a 90.38% fall compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.28 billion, down 29.49% from the year-ago period.

In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.12 per share and a revenue of $16.2 billion, indicating changes of -91.3% and -19.35%, respectively, from the former year.

It's also important for investors to be aware of any recent modifications to analyst estimates for Li Auto Inc Sponsored ADR. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.

The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 40.08% downward. Li Auto Inc. Sponsored ADR is currently a Zacks Rank #4 (Sell).

Looking at its valuation, Li Auto Inc. Sponsored ADR is holding a Forward P/E ratio of 57.04. For comparison, its industry has an average Forward P/E of 12.97, which means Li Auto Inc. Sponsored ADR is trading at a premium to the group.

The Automotive - Foreign industry is part of the Auto-Tires-Trucks sector. With its current Zacks Industry Rank of 63, this industry ranks in the top 26% of all industries, numbering over 250.

The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

Superior Group (SGC - Free Report) came out with quarterly earnings of $0.23 per share, beating the Zacks Consensus Estimate of $0.2 per share. This compares to earnings of $0.13 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +17.95%. A quarter ago, it was expected that this uniform maker would post earnings of $0.16 per share when it actually produced earnings of $0.18, delivering a surprise of +12.5%.

Over the last four quarters, the company has surpassed consensus EPS estimates three times.

Superior Group, which belongs to the Zacks Textile - Apparel industry, posted revenues of $146.58 million for the quarter ended December 2025, surpassing the Zacks Consensus Estimate by 1.56%. This compares to year-ago revenues of $145.41 million. The company has topped consensus revenue estimates two times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Superior Group shares have added about 2.9% since the beginning of the year versus the S&P 500's gain of 0.5%.

What's Next for Superior Group?While Superior Group has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Superior Group was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.02 on $138.26 million in revenues for the coming quarter and $0.76 on $579.92 million in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Textile - Apparel is currently in the top 22% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Another stock from the same industry, Cintas (CTAS - Free Report) , has yet to report results for the quarter ended February 2026.

This uniform rental company is expected to post quarterly earnings of $1.23 per share in its upcoming report, which represents a year-over-year change of +8.9%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Cintas' revenues are expected to be $2.81 billion, up 7.7% from the year-ago quarter.

Webtoon Entertainment (WBTN - Free Report) reported break-even quarterly earnings per share versus the Zacks Consensus Estimate of a loss of $0.04. This compares to a loss of $0.03 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +100.00%. A quarter ago, it was expected that this online storytelling platform for comics and cartoons would post earnings of $0.04 per share when it actually produced earnings of $0.04, delivering no surprise.

Over the last four quarters, the company has surpassed consensus EPS estimates three times.

Webtoon, which belongs to the Zacks Internet - Content industry, posted revenues of $330.69 million for the quarter ended December 2025, missing the Zacks Consensus Estimate by 1.12%. This compares to year-ago revenues of $352.85 million. The company has topped consensus revenue estimates two times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Webtoon shares have lost about 12.7% since the beginning of the year versus the S&P 500's gain of 0.5%.

What's Next for Webtoon?While Webtoon has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Webtoon was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.03 on $343.56 million in revenues for the coming quarter and $0.32 on $1.49 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Internet - Content is currently in the bottom 41% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Another stock from the same industry, Genius Sports Limited (GENI - Free Report) , has yet to report results for the quarter ended December 2025. The results are expected to be released on March 4.

This company is expected to post quarterly earnings of $0.02 per share in its upcoming report, which represents a year-over-year change of +166.7%. The consensus EPS estimate for the quarter has been revised 17.7% lower over the last 30 days to the current level.

Genius Sports Limited's revenues are expected to be $235.52 million, up 34.2% from the year-ago quarter.

SoundThinking (SSTI - Free Report) came out with a quarterly loss of $0.22 per share versus the Zacks Consensus Estimate of a loss of $0.2. This compares to a loss of $0.32 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of -12.82%. A quarter ago, it was expected that this maker of gunfire detection systems would post a loss of $0.07 per share when it actually produced a loss of $0.16, delivering a surprise of -128.57%.

Over the last four quarters, the company has not been able to surpass consensus EPS estimates.

SoundThinking, which belongs to the Zacks Security and Safety Services industry, posted revenues of $24.79 million for the quarter ended December 2025, surpassing the Zacks Consensus Estimate by 0.61%. This compares to year-ago revenues of $23.41 million. The company has topped consensus revenue estimates two times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

SoundThinking shares have lost about 3.1% since the beginning of the year versus the S&P 500's gain of 0.5%.

What's Next for SoundThinking?While SoundThinking has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for SoundThinking was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is -$0.14 on $26.58 million in revenues for the coming quarter and -$0.35 on $114.67 million in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Security and Safety Services is currently in the top 31% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

One other stock from the same industry, Intellicheck Mobilisa, Inc. (IDN - Free Report) , is yet to report results for the quarter ended December 2025.

This company is expected to post quarterly earnings of $0.02 per share in its upcoming report, which represents a year-over-year change of -33.3%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Intellicheck Mobilisa, Inc.'s revenues are expected to be $6.25 million, up 5.2% from the year-ago quarter.

In the latest close session, ZIM Integrated Shipping Services (ZIM - Free Report) was down 3.19% at $27.91. This change lagged the S&P 500's daily loss of 0.94%. Meanwhile, the Dow experienced a drop of 0.83%, and the technology-dominated Nasdaq saw a decrease of 1.02%.

Shares of the container shipping company witnessed a gain of 28.53% over the previous month, beating the performance of the Transportation sector with its gain of 7.28%, and the S&P 500's loss of 1.3%.

The upcoming earnings release of ZIM Integrated Shipping Services will be of great interest to investors. In that report, analysts expect ZIM Integrated Shipping Services to post earnings of -$1.01 per share. This would mark a year-over-year decline of 121.67%. At the same time, our most recent consensus estimate is projecting a revenue of $1.41 billion, reflecting a 34.92% fall from the equivalent quarter last year.

For the full year, the Zacks Consensus Estimates project earnings of $2.65 per share and a revenue of $6.83 billion, demonstrating changes of -85.13% and -18.95%, respectively, from the preceding year.

It's also important for investors to be aware of any recent modifications to analyst estimates for ZIM Integrated Shipping Services. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 49.74% lower. As of now, ZIM Integrated Shipping Services holds a Zacks Rank of #3 (Hold).

The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 31, which puts it in the top 13% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

GitLab Inc. (GTLB - Free Report) came out with quarterly earnings of $0.3 per share, beating the Zacks Consensus Estimate of $0.23 per share. This compares to earnings of $0.33 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +32.57%. A quarter ago, it was expected that this company would post earnings of $0.2 per share when it actually produced earnings of $0.25, delivering a surprise of +25%.

Over the last four quarters, the company has surpassed consensus EPS estimates four times.

Gitlab, which belongs to the Zacks Internet - Software industry, posted revenues of $260.4 million for the quarter ended January 2026, surpassing the Zacks Consensus Estimate by 3.50%. This compares to year-ago revenues of $211.43 million. The company has topped consensus revenue estimates four times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Gitlab shares have lost about 30.2% since the beginning of the year versus the S&P 500's gain of 0.5%.

What's Next for Gitlab?While Gitlab has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Gitlab was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.20 on $255.59 million in revenues for the coming quarter and $1.01 on $1.12 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Internet - Software is currently in the bottom 44% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

One other stock from the same industry, Cognyte Software Ltd. (CGNT - Free Report) , is yet to report results for the quarter ended January 2026.

This company is expected to post quarterly earnings of $0.01 per share in its upcoming report, which represents a year-over-year change of -66.7%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Cognyte Software Ltd.'s revenues are expected to be $106.2 million, up 12.4% from the year-ago quarter.

Achieved Average Working Interest Fourth Quarter Production of 46,344 BOEPDRealized 2025 Adjusted EBITDA1 of $284 MillionDelivered Net Cash Provided by Operating Activities of $313 Million, up 31% from 2024Generated 2025 Funds Flow from Operations1 of $178 MillionSeventh Consecutive Year of South American Reserves Growth With Over 100% Reserve Replacement PDP & 2PAchieved Company’s Best Safety Performance on Record in 2025Subsequent to Year-End Completed a Bond Exchange, Sold Non-Core Assets and Signed an Agreement in Azerbaijan CALGARY, Alberta, March 03, 2026 (GLOBE NEWSWIRE) -- Gran Tierra Energy Inc. (“Gran Tierra” or the “Company”) (NYSE American:GTE) (TSX:GTE) (LSE:GTE) today announced the Company’s financial and operating results for the fourth quarter (“the Quarter”) and year ended December 31, 2025. Gran Tierra’s 2025 year-end reserves were evaluated by the Company's independent qualified reserves evaluator McDaniel & Associates Consultants Ltd. (“McDaniel”) in a report with an effective date of December 31, 2025 (the “GTE McDaniel Reserves Report”). All reserves values, future net revenue and ancillary information contained in this press release have been prepared by McDaniel and calculated in compliance with Canadian National Instrument 51-101 – Standards of Disclosure for Oil and Gas Activities (“NI 51-101”) and the Canadian Oil and Gas Evaluation Handbook (“COGEH”) and derived from the GTE McDaniel Reserves Report, unless otherwise expressly stated. The following reserves categories are discussed in this press release: Proved Developed Producing (“PDP”), Proved (“1P”), 1P plus Probable (“2P”) and 2P plus Possible (“3P”). All dollar amounts are in United States (“U.S.”) dollars and all production volumes are on an average working interest before royalties (“WI”) basis unless otherwise indicated. Production is expressed in barrels (“bbl”) of oil equivalent (“boe”) per day (“boepd” or “boe/d”) and are based on WI sales before royalties. Reserves are expressed in boe or million boe (“MMBOE”), unless otherwise indicated. For per boe amounts based on net after royalty (“NAR”) production, see Gran Tierra’s Annual Report on Form 10-K filed March 4, 2026.

Message to Shareholders

Gary Guidry, President and Chief Executive Officer of Gran Tierra, commented: “We exited 2025 in a position of operational strength and enhanced financial flexibility. The successful exchange of our 9.500% Senior Secured Amortizing Notes due 2029, with approximately 88% participation, demonstrates strong bondholder confidence in Gran Tierra and our strategy. The exchange extended our maturity profile and reduced total bond debt outstanding while strengthening our capital structure. Together with the prepayment facility and non-core asset sales, this significantly enhances our liquidity and provides greater flexibility to allocate capital and accelerate deleveraging as we enter 2026.

These actions provide a clear path toward deleveraging while we execute on a clear development plan across the portfolio. Over the past several years, our team has assembled a diversified, high-quality asset base across South America and Canada. That portfolio build-out required disciplined investment and the strategic use of leverage to secure long-life, high-quality assets with a focus on portfolio longevity. With the portfolio now established, our focus shifts to optimizing and developing those assets while steadily reducing debt and maximizing free cash flow. As we close out 2025, we look toward a 2026 program centered on disciplined development and capital allocation, leveraging our technical capabilities across the portfolio to deliver stable production growth and free cash flow.”

Operational:

Production: Gran Tierra achieved 2025 average WI production of 45,709 BOEPD, representing a 32% increase from 2024, as a result of positive exploration well results in Ecuador, full year production from the Canadian operations, partially offset by lower production in Southern Colombia and Ecuador as a result of two major export pipeline disruptions, and trunk line repairs at the Moqueta field which resulted in the field being shut-in during the third quarter of 2025.The Quarter: Gran Tierra produced an average WI production of 46,344 BOEPD, a 13% increase from the fourth quarter 2024 and a 9% increase from the third quarter 2025 (“the Prior Quarter”). Commitments: Gran Tierra significantly reduced its capital commitments in both Ecuador and Colombia during the year. In Ecuador, the Company completed all Phase 1 commitments and submitted the required Field Development Plans, fully securing its country entry. In Colombia, commitments were streamlined through targeted portfolio and work program revisions. Together with ongoing debt reduction, these actions reduced letters of credit and obligations, materially improving liquidity and enhancing capital allocation flexibility going forward.2026 Suroriente Drilling Campaign: The Company recently drilled the Raju-2 well on the Suroriente Block, targeting the northern extent of the Cohembi field. The well is currently producing at a rate of approximately 790 barrels of oil per day, 6 barrels of water per day and 0.6 thousand cubic feet of gas per day and is on track to exceed management’s initial 30-day production expectations. Raju-2 further delineates the productive limits of the field while reinforcing the development potential of the broader Cohembi structure. The well is part of is part ofthe capital carry commitment associated with Suroriente and with three wells remaining, the Company expects to complete the remaining capital carry by the middle of 2026.Azerbaijan Entry: Gran Tierra entered into an exploration, development and production sharing agreement (“EDPSA”) with the State Oil Company of the Azerbaijan Republic (“SOCAR”), providing for a 65% participating interest to Gran Tierra and 35% to SOCAR. The EDPSA includes a five-year exploration phase and upon a commercial discovery, a 25-year development phase. Minimum exploration commitments to be completed within 36 months include the acquisition of 250 square kilometres of 3D seismic, the drilling of two exploration wells, and geological and environment impact studies. 2025 Year-End Reserves and Values2:

Before Tax (as of December 31, 2025)Units1P2P3PReservesMMBOE142258329Net Present Value at 10% Discount (“NPV10”)$ million1,4562,4613,317Net Debt*$ million(658)(658)(658)Net Asset Value (NPV10 less Net Debt) (“NAV”)3$ million7981,8032,659Outstanding Shares4million35.3035.3035.30NAV per Share3$/share22.6151.0875.33 After Tax (as of December 31, 2025)Units1P2P3PReservesMMBOE142258329NPV10$ million1,1381,7582,283Net Debt*$ million(658)(658)(658)NAV3$ million4801,1001,625Outstanding Shares4million35.3035.3035.30NAV per Share3$/share13.6131.1746.05      As of December 31, 2025, Gran Tierra achieved2,3: Before Tax NAV of $0.8 billion (1P), $1.8 billion (2P), and $2.7 billion (3P)After Tax NAV of $0.5 billion (1P), $1.1 billion (2P), and $1.6 billion (3P)Reserve Life Index**: 1P: 8 years2P: 15 years3P: 19 years South American reserves replacement*** of: 101% PDP, with PDP reserves additions of 11 MMBOE.61% 1P, with 1P reserves additions of 6 MMBOE.105% 2P, with 2P reserves additions of 11 MMBOE. Canadian reserves replacement was negative as a result of the reclassification of certain reserves to contingent resources due to lower forecasted gas prices. Canada now represents 39% of 1P and 44% of 2P reserves compared to Gran Tierra’s total reserves.Future development costs (“FDC”) are forecasted by McDaniel to be $888 million for 1P reserves and $1,682 million for 2P reserves. Decreases in FDC relative to 2024 year-end reflect that the GTE McDaniel Reserves Report now assigns Gran Tierra 168 Proved Undeveloped future drilling locations (down from 227 at 2024 year-end with 62 Glauconitic locations moved to contingent resources) and 362 Proved plus Probable Undeveloped future drilling locations (down from 441 at 2024 year-end with 74 Glauconitic locations moved to contingent). *Comprised of Senior Notes of $741 million (gross) less cash and cash equivalents of $83 million, prepared in accordance with GAAP. See “Non-GAAP Measures”.
**The reserve life indexes were calculated based on a Q4 2025 total average production rate of 46,344 BOEPD.
***Reserves replacement were calculated based on an annual basis using South America average production rate of 29,023 BOEPD.

Financial:

2025 Net Income: Gran Tierra realized a net loss of $193.1 million or $5.45 per share (basic and diluted), which included non-cash ceiling test impairment losses of $136.3 million, compared to net income of $3.2 million, or $0.10 per share (basic and diluted) in 2024.2025 Adjusted EBITDA1: The Company realized Adjusted EBITDA1 of $283.7 million, a decrease of 23% from $366.8 million in 2024, commensurate with the decrease in the Brent oil price.2025 Net Cash Provided by Operating Activities: The Company generated net cash provided by operating activities of $313.2 million, an increase of 31% from $239.3 million in 2024.2025 Funds Flow from Operations1: Gran Tierra realized funds flow from operations1 of $177.8 million, compared to $224.9 million in 2024.2025 Capital Expenditures: Capital expenditures increased by $8.2 million or 3% to $256.3 million compared to 2024 due to a higher number of wells drilled in 2025 in Colombia, Ecuador, and Canada, which was predominately funded by the Company’s 2025 net cash provided by operating activities of $313.2 million.Key Metrics During the Quarter: The Company realized a net loss of $141.1 million, Adjusted EBITDA1 of $52.5 million, and funds flow from operations1 of $26.8 million in the Quarter, compared with a net loss of $20.0 million, Adjusted EBITDA1 of $69.0 million, and funds flow from operations1 of $41.7 million in the Prior Quarter. The Company recognized quarterly production of 46,344 BOEPD.Cash Balance: The Company had $82.9 million in cash and cash equivalents as at December 31, 2025, a decrease compared to a cash balance of $103.4 million as at December 31, 2024.Bonds Buybacks: During 2025, Gran Tierra bought back approximately $21.3 million in face value of the Company’s 9.50% senior notes due October 15, 2029. This represents a discount of about 20% to the face value of the repurchased bonds.Share Buybacks: Since January 1, 2022, through its NCIB programs, the Company has re-purchased approximately 7.5 million shares of Common Stock, representing about 21% of shares outstanding as of December 31, 2025.2025 Operating Costs: Total operating expenses were $248.7 million, compared to $202.3 million in 2024, representing a 23% increase while operating expenses per boe were $15.17, 6% lower when compared to 2024. The increase in total operating expenses in 2025 was a result of higher operating costs in Ecuador driven by a production ramp-up in 2025, and the full year of Canadian operations.2025 Cash General and Administrative Costs: The Company’s gross cash general and administrative (“G&A”) costs increased to $3.47 per boe from $3.30 per boe in 2024. Total cash G&A costs were $56.9 million, an increase of 37% from $41.4 million in 2024, driven by a full year of G&A expenses from Canadian operations, higher business development costs, and consulting costs attributed to optimization projects.Oil, Natural Gas and Natural Gas Liquids (“NGL”) Sales: 2025: Gran Tierra’s oil, natural gas and NGL sales decreased 4% to $596.7 million, compared to $621.8 million in 2024. This decrease was primarily driven by a 15% decrease in Brent price and a 19% decrease in sales volumes in Colombia, offset by higher sales volumes in Ecuador, lower differentials, and a full year of sales from Canadian operations.The Quarter: Gran Tierra generated oil, natural gas and NGL sales of $129.9 million, a decrease of 13% or $19.3 million from the Prior Quarter, primarily driven by a 7% decrease in the Brent oil price, offsetting a 13% increase in production. Oil, natural gas and NGL sales were $32.95 per boe, a 10% decrease from the Prior Quarter primarily as a result of lower oil prices and lower natural gas prices in Canada. Sales in the Quarter were impacted by the timing of a lifting in Ecuador that deferred approximately $15 million of revenue, which was recognized in early January 2026. Operating Netback1: 2025: Gran Tierra’s operating netback1 of $20.18 per boe was down 37% from $31.99 in 2024.The Quarter: The Company’s operating netback1 of $17.53 per boe was lower by 21% from the fourth quarter 2024 and a decrease of 7% from the Prior Quarter due to increased weighting to natural gas in Canada and lower oil prices. Closing of Bond Exchange and Upsized Prepayment Facility:

Subsequent to December 31, 2025, Gran Tierra successfully closed its previously announced bond exchange, achieving approximately 88% participation, reflecting strong bondholder confidence in the Company’s asset base, strategy and long-term credit profile. The Company exchanged $629 million of its 9.500% Senior Secured Amortizing Notes due 2029 for $504 million of new 9.750% Senior Secured Amortizing Notes maturing April 15, 2031, with a structured amortization profile beginning in 2029. In connection with the exchange, the Company paid $125.0 million in cash consideration and cancelled the tendered and treasury-held notes. On a pro forma basis, reflecting the exchange, Gran Tierra’s net debt is approximately $5338 million. The Company also amended and expanded its oil offtake and prepayment agreement with Trafigura to a facility of up to $350.0 million, enhancing liquidity and extending maturities while further strengthening the balance sheet. Gran Tierra’s Commitment to Go “Beyond Compliance” with Safe and Sustainable Operations

2025 was the Company’s safest year on record. Gran Tierra has accumulated a total of 37.2 million person-hours without a Lost Time Injury (LTI), and in 2025, the Company’s Total Recordable Incident Frequency (TRIF) was 0.02, placing Gran Tierra in the top quartile for safety performance across its operating regions.Gran Tierra opened the Acordionero Forestry Centre in El Cairo, Cesar, Colombia — the Company’s second forestry centre dedicated to biodiversity, conservation, sustainable agricultural management and environmental innovation. Nearly 11,000 native trees have already been planted at the site, and the nursery produces approximately 9,000 plants per month, reinforcing its contribution to regional ecosystem recovery. The Centre also features a solar-powered aquaponics system that operates as a closed loop: tilapia waste fertilizes soil-free crops while water is continuously recycled, reducing water use by more than 90% compared with traditional farming.Launched in 2017 in Colombia, Gran Tierra’s flagship program NaturAmazonas, has evolved into much more than a traditional conservation project. While Gran Tierra has consistently expanded our reforestation efforts to exceed initial targets, the program now also integrates the local economy into it. Gran Tierra has grown to support over 800 local families in deforestation-free cacao farming, connected them with international buyers and has trained over 420 local beekeepers to produce sustainable honey from native bee species.Throughout all of Gran Tierra’s environmental initiatives, Gran Tierra has planted over 1.9 million trees and restored or protected over 5,600 hectares of land so far.More than 400,000 people have benefited from Gran Tierra’s social investment programs in South America to date.As part of the Works for Taxes program, Gran Tierra is building four major infrastructure projects in Putumayo, including a new aqueduct that will deliver potable water to 1,300 residents in the municipalities of Mocoa, Valle del Guamuez and Puerto Asís. Other initiatives include rural road upgrades benefiting 24,000 local residents and improvements to local school facilities.Gran Tierra has been accepted by the Voluntary Principles Initiative as an official member of the Voluntary Principles for Security and Human Rights world-wide initiative. This membership is a recognition of Gran Tierra’s efforts at respecting and promoting human dignity and provides support to improve the Company’s security and Human Rights performance. Corporate Presentation:

Gran Tierra’s Corporate Presentation has been updated and is available at www.grantierra.com. Financial and Operational Highlights5 (all amounts in $000s, except per share and boe amounts)

Consolidated InformationYear Ended Three Months Ended December 31,December 31, December 31,December 31,September 30,  2025  2024   2025  2024  2025 Net (Loss) Income$(193,119)$3,216  $(141,148)$(34,210)$(19,950)Net (Loss) Income Per Share - Basic$(5.45)$0.10  $(4.00)$(1.04)$(0.57)Net (Loss) Income Per Share - Diluted$(5.45)$0.10  $(4.00)$(1.04)$(0.57)       Operating Netback1      Gross Profit6$66,419 $182,637  $851 $22,180 $14,670 Depletion and Accretion7 264,522  218,417   68,236  60,061  61,908 Operating Netback1$330,941 $401,054  $69,087 $82,241 $76,578        Oil, Natural Gas and NGL Sales$596,713 $621,849  $129,929 $147,290 $149,254 Operating Expenses (248,748) (202,331)  (57,160) (60,770) (68,379)Transportation Expenses (17,024) (18,464)  (3,682) (4,279) (4,297)Operating Netback1$330,941 $401,054  $69,087 $82,241 $76,578        G&A Expenses Before Stock-based Compensation$56,873 $41,431  $16,817 $8,672 $13,453 G&A Expenses Stock-Based Compensation 3,214  9,707   3,042  3,331  143 G&A Expenses, Including Stock-Based Compensation$60,087 $51,138  $19,859 $12,003 $13,596        EBITDA1$146,790 $355,690  $(77,030)$65,247 $59,202        Adjusted EBITDA1$283,656 $366,758  $52,473 $76,168 $69,034        Net Cash Provided by Operating Activities$313,249 $239,321  $157,193 $26,607 $48,149        Funds Flow from Operations1$177,762 $224,941  $26,827 $44,129 $41,685        Capital Expenditures (Before Changes in Working Capital)$256,277 $248,103  $53,040 $78,579 $57,340        Free Cash Flow1$(78,515)$(23,162) $(26,213)$(34,450)$(15,655)       Average Daily Volumes (BOEPD)      Working Interest Production Before Royalties 45,709  34,710   46,344  41,009  42,685 Royalties (7,266) (6,820)  (6,880) (7,327) (6,723)Production NAR 38,443  27,890   39,464  33,682  35,962 (Decrease) Increase in Inventory (779) (454)  (3,480) (712) 1,391 Sales 37,664  27,436   35,984  32,970  37,353 Royalties, % of WI Production Before Royalties 16% 20%  15% 18% 16%       Per boe5      Gross Profit6$4.05 $14.57  $0.22 $5.98 $3.62 Depletion and Accretion7 16.13  17.42   17.30  16.20  15.27 Operating Netback(1)(5)$20.18 $31.99  $17.53 $22.19 $18.89        Brent$68.19 $79.86  $63.08 $74.01 $68.17 Quality and Transportation Discount (24.78) (17.93)  (23.83) (25.45) (24.73)Royalties (7.02) (12.33)  (6.30) (8.83) (6.63)Average Realized Price$36.39 $49.60  $32.95 $39.73 $36.81 Transportation Expenses (1.04) (1.47)  (0.93) (1.15) (1.06)Average Realized Price Net of Transportation Expenses$35.35 $48.13  $32.02 $38.58 $35.75 Operating Expenses (15.17) (16.14)  (14.49) (16.39) (16.86)Operating Netback1$20.18 $31.99  $17.53 $22.19 $18.89 Cash G&A Expenses (3.47) (3.30)  (4.26) (2.75) (3.32)Transaction Costs —  (0.47)  —  (1.20) — Export Tax (0.20) —   (0.17) —  (0.65)Realized Foreign Exchange (Loss) Gain (0.47) 0.07   (0.71) 0.07  (0.53)Cash Settlement on Derivative Instruments 0.63  0.09   0.19  0.30  1.84 Interest Expense, Excluding Amortization of Debt Issuance Costs (5.02) (5.38)  (5.45) (5.40) (5.22)Interest Income 0.07  0.29   0.06  0.34  0.05 Other Cash Gain 0.10  0.12   —  0.40  0.31 Net Lease Payments (0.01) 0.07   (0.03) 0.07  (0.10)Current Income Tax (Expense) Recovery (0.97) (5.53)  (0.35) (2.12) (0.99)Cash Netback1$10.84 $17.95  $6.81 $11.90 $10.28        Share Information (000s)      Common Stock Outstanding, End of Period 35,299  35,972   35,299  35,972  35,296 Weighted Average Number of Common - Basic 35,436  32,043   35,294  34,333  35,291 Weighted Average Number of Common - Diluted 35,436  32,043   35,294  34,333  35,291  Colombia InformationYear Ended, Three Months Ended, December 31,December 31, December 31,December 31,September 30, 20252024 202520242025Operating Netback(1)(5)      Gross Profit6$53,685$180,605 $(2,865)$21,728$10,237Depletion and Accretion7186,319199,323 49,38347,85844,041Operating Netback(1)(5)$240,004$379,928 $46,518$69,586$54,278       Oil Sales$418,411$575,482 $89,072$119,310$101,999Operating Expenses(165,902)(179,257) (39,897)(46,614)(44,819)Transportation Expenses(12,505)(16,297) (2,657)(3,110)(2,902)Operating Netback(1)(5)$240,004$379,928 $46,518$69,586$54,278       Capital Expenditures (Before Changes in Working Capital)$149,138$126,867 $32,858$28,855$32,573       Average Daily Production (BOEPD)      WI Production Before Royalties24,16929,389 23,25825,99022,701Royalties(3,685)(5,545) (3,013)(4,548)(3,481)Production NAR20,48423,844 20,24521,44219,220Increase (Decrease) in Inventory(210)53 (908)245337Sales20,27423,897 19,33721,68719,557Royalties, % of WI Production Before Royalties15%19% 13%17%15%       Operating Netback ($/boe)(1)(5)      Gross Profit6$6.14$16.76 $(1.39)$9.00$4.83Depletion and Accretion721.3118.50 24.0219.8320.78Operating Netback(1)(5)$27.44$35.26 $22.63$28.83$25.60       Brent$68.19$79.86 $63.08$74.01$68.17Quality and Transportation Discount(11.65)(14.06) (13.01)(14.21)(11.48)Royalties(8.70)(12.39) (6.75)(10.37)(8.57)Average Realized Price47.8453.41 43.3249.4348.12Transportation Expenses(1.43)(1.51) (1.29)(1.29)(1.37)Average Realized Price Net of Transportation Expenses46.4151.90 42.0348.1446.75Operating Expenses(18.97)(16.64) (19.40)(19.31)(21.15)Operating Netback(1)(5)$27.44$35.26 $22.63$28.83$25.60 Ecuador InformationYear Ended, Three Months Ended, December 31,December 31, December 31,December 31,September 30, 20252024 202520242025Operating Netback(1)(5)      Gross Profit6$5,479$2,336 $3,678$756$859Depletion and Accretion729,62410,156 5,2583,2659,519Operating Netback(1)(5)$35,103$12,492 $8,936$4,021$10,378       Oil Sales$62,609$27,412 $12,486$9,025$20,605Operating Expenses(24,270)(13,425) (2,918)(4,507)(9,157)Transportation Expenses(3,236)(1,495) (632)(497)(1,070)Operating Netback(1)(5)$35,103$12,492 $8,936$4,021$10,378       Capital Expenditures (Before Changes in Working Capital)$62,275$102,377 $16,197$31,416$15,474       Average Daily Production (BOEPD)      WI Production Before Royalties4,8542,477 6,8983,7053,872Royalties(1,497)(881) (1,925)(1,213)(1,273)Production NAR3,3571,596 4,9732,4922,599Increase (Decrease) in Inventory(569)(507) (2,572)(957)1,054Sales2,7881,089 2,4011,5353,653Royalties, % of WI Production Before Royalties31%36% 28%33%33%       Operating Netback ($/boe)(1)(5)      Gross Profit6$3.50$3.24 $9.24$2.99$1.90Depletion and Accretion718.9414.08 13.2112.9121.00Operating Netback(1)(5)$22.44$17.33 $22.45$15.90$22.90       Brent$68.19$79.86 $63.08$74.01$68.17Quality and Transportation Discount(6.66)(11.06) (6.56)(10.09)(6.88)Royalties(21.50)(30.78) (25.15)(28.22)(15.83)Average Realized Price40.0338.02 31.3735.7045.46Transportation Expenses(2.07)(2.07) (1.59)(1.97)(2.36)Average Realized Price Net of Transportation Expenses37.9635.95 29.7833.7343.10Operating Expenses(15.52)(18.62) (7.33)(17.83)(20.20)Operating Netback(1)(5)$22.44$17.33 $22.45$15.90$22.90 Canadian InformationYear Ended, Three Months Ended, December 31,December 31, December 31,December 31,September 30, 20252024 202520242025Operating Netback(1)(5)      Gross Profit6$7,255$(304) $38$(304)$3,574Depletion and Accretion748,5798,938 13,5958,9388,348Operating Netback(1)(5)$55,834$8,634 $13,633$8,634$11,922       Oil Sales$84,769$14,832 $19,785$14,832$21,884Natural Gas Sales23,9403,546 4,0264,1934,314NGL Sales20,2754,193 7,4773,5463,702Royalties(13,291)(3,616) (2,917)(3,616)(3,250)Oil, Natural Gas and NGL Sales After Royalties$115,693$18,955 $28,371$18,955$26,650Operating Expenses(58,576)(9,649) (14,345)(9,649)(14,403)Transportation Expenses(1,283)(672) (393)(672)(325)Operating Netback(1)(5)$55,834$8,634 $13,633$8,634$11,922       Capital Expenditures (Before Changes in Working Capital)$44,096$18,114 $3,712$18,114$9,228       Average Daily Production      Crude Oil (bbl/d)4,049627 4,2202,4864,013Natural Gas (mcf/d)48,8408,274 46,15832,81449,260NGLs (bbl/d)4,496847 4,2743,3583,889WI Production Before Royalties (BOEPD)16,6852,853 16,18711,31316,112Royalties (BOEPD)(2,083)(394) (1,942)(1,566)(1,969)Production NAR (BOEPD)14,6022,459 14,2459,74714,143Sales (BOEPD)14,6022,459 14,2459,74714,143Royalties, % of WI Production Before Royalties12%14% 12%14%12%       Benchmark Prices      West Texas Intermediate ($/bbl)$64.87$69.62 $59.24$69.62$65.07AECO Natural Gas Price (C$/GJ)$1.59$1.56 $2.11$1.56$0.60       Average Realized Price      Crude Oil ($/bbl)$57.35$64.86 $50.96$64.86$59.28Natural Gas ($/mcf)$1.34$1.17 $1.76$1.17$0.82NGLs ($/bbl)$12.36$13.57 $10.24$13.57$12.06       Operating Netback ($/boe)(1)(5)      Gross Profit6$1.19$(0.29) $0.03$(0.29)$2.41Depletion and Accretion77.988.59 9.138.595.63Operating Netback(1)(5)$9.17$8.30 $9.16$8.30$8.04       Average Realized Price$21.18$21.69 $21.01$21.69$20.17Royalties(2.18)(3.47) (1.96)(3.47)(2.19)Transportation Expenses(0.21)(0.65) (0.26)(0.65)(0.22)Operating Expenses(9.62)(9.27) (9.63)(9.27)(9.72)Operating Netback(1)(5)$9.17$8.30 $9.16$8.30$8.04  As at December 31($000s) 2025 2024% ChangeCash and cash equivalents$82,931$103,379(20)    Credit facility$—$——     Senior Notes$740,541$786,619(6)        Additional information on 2025 expenses:

Quality and Transportation Discount: increased in 2025 to $24.78 per boe compared to $17.93 per boe in 2024 as a result of a change in production mix, driven by the full integration of Canadian operations acquired in October 2024.Transportation Expenses: decreased by 29% to $1.04 per boe in 2025 from $1.47 per boe in 2024 as a result of higher sales volumes transported in Ecuador, two months of transportation of sales volumes in Canada through pipelines, and an increase in trucking tariffs for Acordionero volumes in 2025.Royalties: decreased to $7.02 per boe in 2025, from $12.33 per boe in 2024. This decrease was driven by the 15% decrease in the Brent oil price in 2025 relative to 2024 and the price sensitive royalty regime in Colombia and Ecuador. 1 Operating netback, EBITDA, Adjusted EBITDA, funds flow from operations, net debt, free cash flow, and cash netback, are non-GAAP measures and do not have a standardized meaning under GAAP. Cash flow refers to the GAAP line item “net cash provided by operating activities”. Refer to “Non-GAAP Measures” in this press release for descriptions of these non-GAAP measures and reconciliations to the most directly comparable measures calculated and presented in accordance with GAAP.
2 The after-tax net present value of the Company’s oil and gas properties reflects the tax burden on the properties on a stand-alone basis. It does not consider the corporate tax situation, or tax planning. It does not provide an estimate of the value at the Company level which may be significantly different. The Company’s financial statements should be consulted for information at the Company level.
3 NAV per share is calculated as NPV10 (before or after tax, as applicable) of the applicable reserves category minus net debt, divided by the number of shares of Gran Tierra’s common stock issued and outstanding.
4 Outstanding shares of common stock based on December 31, 2025 balance of 35,298,774 shares of common stock.
5 Per boe amounts are based on WI sales before royalties. For per boe amounts based on NAR production, see Gran Tierra’s Annual Report on Form 10-K filed on March 4, 2026.
6 Gross profit is calculated as oil, gas and NGL sales, less operating and transportation expenses, and depletion and accretion related to producing assets.
7 Depletion and Accretion is calculated as DD&A expenses less depreciation of administrative assets.
8 Proforma Net Debt is based on $616 million outstanding of Senior Notes less $83 million of cash and cash equivalents as at December 31, 2025.

Conference Call Information

Gran Tierra will host its fourth quarter and full year 2025 results conference call on Wednesday March 4, 2026, at 9:00 a.m. Mountain Time, 11:00 a.m. Eastern Time, and 4:00 p.m. Greenwich Mean Time. Interested parties may register for the conference call at the following link: https://register-conf.media-server.com/register/BIea135c3b51d44c9cb4d060ac04b977dd. Please note that there is no longer a general dial-in number to participate and each individual party must register through the provided link. Once parties have registered, they will be provided a unique PIN and call-in details. There is also a feature that allows parties to elect to be called back through the “Call Me” function on the platform. Interested parties can also continue to access the live webcast from their mobile or desktop devices at the following link: https://edge.media-server.com/mmc/p/ruvvrgwq, which is also available on Gran Tierra’s website at https://www.grantierra.com/investor-relations/presentations-events/.

About Gran Tierra Energy Inc.

Gran Tierra Energy Inc., together with its subsidiaries, is an independent international energy company currently focused on oil and natural gas exploration and production in Canada, Colombia and Ecuador. The Company is currently developing its existing portfolio of assets in Canada, Colombia and Ecuador; however, we have recently entered into an exploration, development and production sharing agreement with SOCAR and may eventually expand our operations into Azerbaijan and will continue to pursue additional new growth opportunities that would further strengthen the Company’s portfolio. The Company’s common stock trades on the NYSE American, the Toronto Stock Exchange and the London Stock Exchange under the ticker symbol GTE. Additional information concerning Gran Tierra is available at www.grantierra.com. Except to the extent expressly stated otherwise, information on the Company’s website or accessible from our website or any other website is not incorporated by reference into and should not be considered part of this press release. Investor inquiries may be directed to [email protected] or (403) 265-3221.

Gran Tierra’s Securities and Exchange Commission (the “SEC”) filings are available on the SEC website at http://www.sec.gov. The Company’s Canadian securities regulatory filings are available on SEDAR+ at http://www.sedarplus.ca and UK regulatory filings are available on the National Storage Mechanism website at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

Contact Information

For investor and media inquiries please contact:

Gary Guidry, President & Chief Executive Officer

Ryan Ellson, Executive Vice President & Chief Financial Officer

Tel: +1.403.265.3221

For more information on Gran Tierra please go to: www.grantierra.com.

Forward Looking Statements and Legal Advisories:

This press release contains opinions, forecasts, projections, and other statements about future events or results that constitute forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and financial outlook and forward looking information within the meaning of applicable Canadian securities laws (collectively, “forward- looking statements”), which can be identified by such terms as “believe,” “expect,” “anticipate,” “forecast,” “budget,” “will,” “estimate,” “target,” “project,” “plan,” “should,” “guidance,” “outlook,” “strives” or similar expressions are forward-looking statements. Such forward-looking statements include, but are not limited to, the Company’s strategies and expectations, capital program, drilling plans, cost saving initiatives, future sources of funding for capital expenditures and other activities, future planned operations and production estimates, forecast prices, and the Company’s plans to benefit the environment or communities in which it operates. Statements relating to “reserves” are also deemed to be forward-looking statements, as they involve the implied assessment, based on certain estimates and assumptions, including that the reserves described can be profitably produced in the future.

The forward-looking statements contained in this press release reflect several material factors and expectations and assumptions of Gran Tierra including, without limitation, that Gran Tierra will continue to conduct its operations in a manner consistent with its current expectations, the ability of Gran Tierra to realize the anticipated benefits and operating synergies expected from the acquisition of i3 Energy, the accuracy of testing and production results and seismic data, pricing and cost estimates (including with respect to commodity pricing and exchange rates), rig availability, the risk profile of planned exploration activities, the effects of drilling down-dip, the 5-year weighted-average Brent forecast, the effects of waterflood and multi-stage fracture stimulation operations, the extent and effect of delivery disruptions, and the general continuance of current or, where applicable, assumed operational, regulatory and industry conditions in Canada, Colombia, Ecuador, and Azerbaijan and areas of potential expansion, and the ability of Gran Tierra to execute its business and operational plans in the manner currently planned, such as the expected effectiveness of the EDPSA in Azerbaijan and the timing and execution of the related exploration program. Gran Tierra believes the material factors, expectations and assumptions reflected in the forward-looking statements are reasonable at this time but no assurance can be given that these factors, expectations and assumptions will prove to be correct.

Among the important factors that could cause actual results to differ materially from those indicated by the forward-looking statements in this press release are: our operations are located in South America and unexpected problems can arise due to guerilla activity, strikes, local blockades or protests; technical difficulties and operational difficulties may arise which impact the production, transport or sale of our products; other disruptions to local operations; global health events; global and regional changes in the demand, supply, prices, differentials or other market conditions affecting oil and gas, including inflation and changes resulting from a global health crisis, geopolitical events, including the ongoing conflicts in Ukraine, the Middle East and Venezuela, or from the imposition or lifting of crude oil production quotas or other actions that might be imposed by OPEC and other producing countries and resulting company or third-party actions in response to such changes; changes in commodity prices, including volatility or a prolonged decline in these prices relative to historical or future expected levels; the risk that current global economic and credit conditions may impact oil and natural gas prices and oil and natural gas consumption more than we currently predict, which could cause further modification of our strategy and capital spending program; prices and markets for oil and natural gas are unpredictable and volatile; the effect of hedges; the accuracy of productive capacity of any particular field; geographic, political and weather conditions can impact the production, transport or sale of our products; our ability to execute our business plan, which may include acquisitions, and realize expected benefits from current or future initiatives; the risk that unexpected delays and difficulties in developing currently owned properties may occur; the ability to replace reserves and production and develop and manage reserves on an economically viable basis; the accuracy of testing and production results and seismic data, pricing and cost estimates (including with respect to commodity pricing and exchange rates); the risk profile of planned exploration activities; the effects of drilling down-dip; the effects of waterflood and multi-stage fracture stimulation operations; the extent and effect of delivery disruptions, equipment performance and costs; actions by third parties; the timely receipt of regulatory or other required approvals for our operating activities; the failure of exploratory drilling to result in commercial wells; unexpected delays due to the limited availability of drilling equipment and personnel; volatility or declines in the trading price of our common stock or bonds; the risk that we do not receive the anticipated benefits of government programs, including government tax refunds; our ability to comply with financial covenants in its credit agreement and indentures and make borrowings under any credit agreement; and the risk factors detailed from time to time in Gran Tierra’s periodic reports filed with the Securities and Exchange Commission, including, without limitation, under the caption “Risk Factors” in Gran Tierra’s Annual Report on Form 10-K for the year ended December 31, 2025 filed March 4, 2026 and its other filings with the SEC. These filings are available on the SEC website at http://www.sec.gov and on SEDAR+ at www.sedarplus.ca. Although the current guidance, capital spending program and long term strategy of Gran Tierra are based upon the current expectations of the management of Gran Tierra, should any one of a number of issues arise, Gran Tierra may find it necessary to alter its business strategy and/or capital spending program and there can be no assurance as at the date of this press release as to how those funds may be reallocated or strategy changed and how that would impact Gran Tierra’s results of operations and financial position. Forecasts and expectations that cover multi-year time horizons or are associated with 2P reserves inherently involve increased risks and actual results may differ materially.

All forward-looking statements are made as of the date of this press release and the fact that this press release remains available does not constitute a representation by Gran Tierra that Gran Tierra believes these forward-looking statements continue to be true as of any subsequent date. Actual results may vary materially from the expected results expressed in forward-looking statements. Gran Tierra disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law. In addition, historical, current and forward-looking sustainability-related statements may be based on standards for measuring progress that are still developing, internal controls and processes that continue to evolve, and assumptions that are subject to change in the future.

Non-GAAP Measures

This press release includes non-GAAP financial measures as further described herein. These non-GAAP measures do not have a standardized meaning under GAAP. Investors are cautioned that these measures should not be construed as alternatives to net income or loss, cash flow from operating activities or other measures of financial performance as determined in accordance with GAAP. Gran Tierra’s method of calculating these measures may differ from other companies and, accordingly, they may not be comparable to similar measures used by other companies. Each non-GAAP financial measure is presented along with the corresponding GAAP measure so as not to imply that more emphasis should be placed on the non-GAAP measure.

Net Debt, as presented as at December 31, 2025 is comprised of $741 million (gross) of senior notes outstanding less cash and cash equivalents of $83 million, prepared in accordance with GAAP. Management believes that net debt is a useful supplemental measure for management and investors in order to evaluate the financial sustainability of the Company’s business and leverage. The most directly comparable GAAP measure is total debt.

Operating netback, as presented, is defined as gross profit less depletion and accretion related to producing assets. Operating netback per boe, as presented, is defined as operating netback over WI sales volume. Cash netback, as presented, is most directly comparable to gross profit and is calculated as gross profit adjusted for depletion and accretion related to producing assets, cash G&A expenses, transaction costs, export tax, realized foreign exchange gains or losses, cash settlement on derivative instruments, interest expense excluding amortization of debt issuance costs, interest income, other cash gains or losses, net lease payments, and current income tax expense or recovery. Cash netback per boe, as presented, is defined as cash netback over WI sales volumes. Management believes that operating netback and cash netback are useful supplemental measures for investors to analyze financial performance and provide an indication of the results generated by Gran Tierra’s principal business activities prior to the consideration of other income and expenses. See the table entitled Financial and Operational Highlights above for the components of operating netback and operating netback per boe. A reconciliation from net income or loss to cash netback is as follows:

  Year Ended Three Months Ended  December 31, December 31, September 30,Operating and Cash Netback - Non-GAAP Measure ($000s)  2025   2024   2025   2024   2025 Gross profit $66,419  $182,637  $851  $22,180  $14,670 Adjustments to reconcile net (loss) income to operating netback          Depletion and accretion  264,522   218,417   68,236   60,061   61,908 Operating netback (non-GAAP)  330,941   401,054   69,087   82,241   76,578 Cash G&A expenses  (56,873)  (41,431)  (16,817)  (10,191)  (13,453)Transaction costs  —   (5,907)  —   (4,448)  — Export tax  (3,287)  —   (657)  —   (2,630)Realized foreign exchange (loss) gain  (7,694)  915   (2,792)  273   (2,149)Cash settlement on derivative instruments  10,292   1,103   757   1,103   7,461 Interest expense, excluding amortization of debt issuance costs  (82,341)  (67,548)  (21,477)  (20,009)  (21,178)Interest income  1,090   3,666   217   1,273   197 Other cash gain  1,645   1,478   —   1,478   1,268 Net lease payments  (152)  888   (114)  264   (387)Current income tax (expense) recovery  (15,859)  (69,277)  (1,377)  (7,855)  (4,022)Cash netback (non-GAAP) $177,762  $224,941  $26,827  $44,129  $41,685 
EBITDA, as presented, is defined as net income (loss) adjusted for DD&A expenses, interest expense, and income tax expense or recovery. Adjusted EBITDA, as presented, is defined as EBITDA adjusted for asset impairment, non-cash lease expense, lease payments, foreign exchange gains or losses, unrealized derivative instruments gains or losses, transaction costs, other non-cash gains or losses, and stock-based compensation expense. Management uses this supplemental measure to analyze performance and income generated by our principal business activities prior to the consideration of how non-cash items affect that income, and believes that this financial measure is a useful supplemental information for investors to analyze our performance and our financial results. A reconciliation from net income or loss or loss to EBITDA and adjusted EBITDA is as follows:

  Year Ended Three Months Ended  December 31, December 31, September 30,EBITDA - Non-GAAP Measure ($000s)  2025   2024   2025   2024   2025 Net (loss) income $(193,119) $3,216  $(141,148) $(34,210) $(19,950)Adjustments to reconcile net (loss) income to EBITDA and Adjusted EBITDA          DD&A expenses  278,353   230,619   72,535   63,406   64,981 Interest expense  101,309   80,466   28,261   23,752   25,447 Income tax expense  (39,753)  41,389   (36,678)  12,299   (11,276)EBITDA (non-GAAP) $146,790  $355,690  $(77,030) $65,247  $59,202 Asset impairment  136,261   —   136,261   —   — Non-cash lease expense  5,821   5,923   1,173   1,759   1,187 Lease payments  (5,973)  (5,035)  (1,287)  (1,495)  (1,574)Foreign exchange gain  8,734   (8,808)  896   (496)  284 Unrealized derivative instruments (gain) loss  (8,633)  3,374   (7,669)  3,374   9,527 Transaction costs  —   5,907   —   4,448   — Other non-cash (gain) loss  (2,558)  —   (2,913)  —   265 Stock-based compensation expense  3,214   9,707   3,042   3,331   143 Adjusted EBITDA (non-GAAP) $283,656  $366,758  $52,473  $76,168  $69,034 
Funds flow from operations, as presented, is defined as net income (loss) adjusted for DD&A expenses, asset impairment, deferred tax expense or recovery, stock-based compensation expense or recovery, amortization of debt issuance costs, non-cash interest, non-cash lease expense, lease payments, unrealized foreign exchange gains or losses, unrealized derivative instruments gains or losses, and other non-cash gains or losses. Management uses this financial measure to analyze performance and income or loss generated by our principal business activities prior to the consideration of how non-cash items affect that income or loss, and believes that this financial measure is also useful supplemental information for investors to analyze performance and our financial results. Free cash flow, as presented, is defined as funds flow from operations adjusted for capital expenditures. Management uses this financial measure to analyze cash flow generated by our principal business activities after capital requirements and believes that this financial measure is also useful supplemental information for investors to analyze performance and our financial results. A reconciliation from net income or loss to funds flow from operations and free cash flow is as follows:

  Year Ended Three Months Ended  December 31, December 31, September 30,Funds Flow From Operations - Non-GAAP Measure ($000s)  2025   2024   2025   2024   2025 Net (loss) income $(193,119) $3,216  $(141,148) $(34,210) $(19,950)Adjustments to reconcile net (loss) income to funds flow from operations          DD&A expenses  278,353   230,619   72,535   63,406   64,981 Asset impairment  136,261   —   136,261   —   — Deferred tax (recovery) expense  (55,612)  (27,888)  (38,055)  4,444   (15,298)Stock-based compensation expense  3,214   9,707   3,042   3,331   143 Amortization of debt issuance costs  16,943   12,918   4,759   3,743   4,269 Non-cash interest  2,025   —   2,025   —   — Non-cash lease expense  5,821   5,923   1,173   1,759   1,187 Lease payments  (5,973)  (5,035)  (1,287)  (1,495)  (1,574)Unrealized foreign exchange loss (gain)  1,040   (7,893)  (1,896)  (223)  (1,865)Other non-cash (gain) loss  (2,558)  —   (2,913)  —   265 Unrealized derivative instruments (gain) loss  (8,633)  3,374   (7,669)  3,374   9,527 Funds flow from operations (non-GAAP) $177,762  $224,941  $26,827  $44,129  $41,685 Capital expenditures $256,277  $248,103  $53,040  $78,579  $57,340 Free cash flow (non-GAAP) $(78,515) $(23,162) $(26,213) $(34,450) $(15,655)
DISCLOSURE OF OIL AND GAS INFORMATION

Gran Tierra’s Statement of Reserves Data and Other Oil and Gas Information on Form 51-101F1 dated effective as at December 31, 2025, which includes disclosure of its oil and gas reserves and other oil and gas information in accordance with NI 51-101 and COGEH forming the basis of this press release, is available on SEDAR+ at www.sedarplus.ca. All reserves values, future net revenue and ancillary information contained in this press release as of December 31, 2025 are derived from the GTE McDaniel Reserves Report, unless expressly stated. Any reserves values or related information contained in this press release as of a date other than December 31, 2025 has an effective date of December 31 of the applicable year and is derived from a report prepared by Gran Tierra’s independent qualified reserves evaluator as of such date and have been prepared in compliance with NI 51-101 and the COGEH.

Estimates of net present value and future net revenue contained herein do not necessarily represent fair market value of reserves. Estimates of reserves and future net revenue for individual properties may not reflect the same level of confidence as estimates of reserves and future net revenue for all properties, due to the effect of aggregation. There is no assurance that the forecast price and cost assumptions applied by McDaniel in evaluating Gran Tierra’s reserves and future net revenue will be attained and variances could be material. See Gran Tierra’s press release dated January 28, 2026 for a summary of the price forecasts employed by McDaniel in the GTE McDaniel Reserves Report and other information regarding the disclosed future net revenue.

All evaluations of future net revenue contained in the GTE McDaniel Reserves Report are after the deduction of royalties, operating costs, development costs and abandonment and reclamation costs but before consideration of indirect costs such as administrative, overhead and other miscellaneous expenses. It should not be assumed that the estimates of future net revenue presented in this press release represent the fair market value of the reserves. There are numerous uncertainties inherent in estimating quantities of crude oil and natural gas reserves and the future cash flows attributed to such reserves. The reserve and associated cash flow information set forth in the GTE McDaniel Reserves Report are estimates only and there is no guarantee that the estimated reserves will be recovered. Actual reserves may be greater than or less than the estimates provided therein.

Boes have been converted on the basis of six thousand cubic feet (“Mcf”) natural gas to 1 boe of oil. Boes may be misleading, particularly if used in isolation. A boe conversion ratio of 6 Mcf: 1 boe is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. In addition, given that the value ratio based on the current price of oil as compared with natural gas is significantly different from the energy equivalent of six to one, utilizing a boe conversion ratio of 6 Mcf: 1 boe would be misleading as an indication of value.

References to a formation where evidence of hydrocarbons has been encountered is not necessarily an indicator that hydrocarbons will be recoverable in commercial quantities or in any estimated volume. Gran Tierra’s reported production is a mix of light crude oil and medium, heavy crude oil, tight oil, conventional natural gas, shale gas and natural gas liquids for which there is no precise breakdown since the Company’s sales volumes typically represent blends of more than one product type. Drilling locations disclosed herein are derived from the GTE McDaniel Reserves Report and account for drilling locations that have associated Proved Undeveloped and Proved plus Probable Undeveloped reserves, as applicable. Well test results should be considered as preliminary and not necessarily indicative of long-term performance or of ultimate recovery. Well log interpretations indicating oil and gas accumulations are not necessarily indicative of future production or ultimate recovery. If it is indicated that a pressure transient analysis or well-test interpretation has not been carried out, any data disclosed in that respect should be considered preliminary until such analysis has been completed. References to thickness of “oil pay” or of a formation where evidence of hydrocarbons has been encountered is not necessarily an indicator that hydrocarbons will be recoverable in commercial quantities or in any estimated volume.

Future Net Revenue

Future net revenue reflects McDaniel’s forecast of revenue estimated using forecast prices and costs, arising from the anticipated development and production of reserves, after the deduction of royalties, operating costs, development costs and abandonment and reclamation costs and taxes but before consideration of indirect costs such as administrative, overhead and other miscellaneous expenses. The estimate of future net revenue below does not necessarily represent fair market value.

Consolidated Properties at December 31,2025Proved (1P) Total Future Net Revenue ($ million)Forecast Prices and CostsYearsSales RevenueTotal RoyaltiesOperating CostsFuture Development CapitalAbandonment and Reclamation CostsFuture Net Revenue Before Future TaxesFuture TaxesFuture Net Revenue After Future Taxes*2026 - 2030
(5 Years)4,479(883)(1,443)(882)(31)1,240(280)960Remainder3,167(589)(1,413)(5)(345)815(212)603Total (Undiscounted)7,645(1,472)(2,856)(888)(376)2,053(492)1,561Total (Discounted @ 10%)     1,456(318)1,138  Consolidated Properties at December 31,2025Proved Plus Probable (2P) Total Future Net Revenue ($ million)Forecast Prices and CostsYearsSales RevenueTotal RoyaltiesOperating CostsFuture Development CapitalAbandonment and Reclamation CostsFuture Net Revenue Before Future TaxesFuture TaxesFuture Net Revenue After Future Taxes*2026 - 2030 (5 Years)5,222(1,040)(1,550)(1,016)(27)1,589(404)1,185Remainder8,851(1,944)(3,080)(666)(391)2,770(900)1,870Total (Undiscounted)14,073(2,984)(4,629)(1,682)(419)4,359(1,304)3,055Total (Discounted @ 10%)     2,461(703)1,758  Consolidated Properties at December 31,2025Proved Plus Probable Plus Possible (3P) Total Future Net Revenue ($ million)Forecast Prices and CostsYearsSales RevenueTotal RoyaltiesOperating CostsFuture Development CapitalAbandonment and Reclamation CostsFuture Net Revenue Before Future TaxesFuture TaxesFuture Net Revenue After Future Taxes*2026 - 2030
(5 Years)5,790(1,172)(1,613)(1,067)(26)1,911(529)1,382Remainder12,799(3,029)(4,078)(818)(407)4,467(1,516)2,951Total (Undiscounted)18,589(4,202)(5,691)(1,886)(433)6,378(2,044)4,334Total (Discounted @ 10%)     3,317(1,033)2,283
Definitions

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. It is unlikely that the actual remaining quantities recovered will be greater or less than the sum of the estimated proved plus probable plus possible reserves. There is a 10% probability that the quantities actually recovered will equal or exceed the sum of 3P reserves.

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 on production, and the date of resumption of production must be known with reasonable certainty.

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.

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.

Certain terms used in this press release but not defined are defined in NI 51-101, CSA Staff Notice 51-324 - Revised Glossary to NI 51-101 Standards of Disclosure for Oil and Gas Activities (“CSA Staff Notice 51-324”) and/or the COGEH and, unless the context otherwise requires, shall have the same meanings herein as in NI 51-101, CSA Staff Notice 51-324 and the COGEH, as the case may be.

Oil and Gas Metrics

This press release contains a number of oil and gas metrics, including NAV per share, operating netback, cash netback, reserves replacement, and reserve life index which do not have standardized meanings or standard methods of calculation and therefore such measures may not be comparable to similar measures used by other companies and should not be used to make comparisons. Such metrics have been included herein to provide readers with additional measures to evaluate the Company’s performance; however, such measures are not reliable indicators of the future performance of the Company and future performance may not compare to the performance in previous periods.

NAV per share is calculated as the applicable NPV10 (before or after-tax, as applicable) of the applicable reserves category minus estimated net debt, divided by the number of shares of Gran Tierra’s common stock issued and outstanding. Management uses NAV per share as a measure of the relative change of Gran Tierra’s net asset value over its outstanding common stock over a period of time.Operating netback and cash netback are calculated as described in this press release. Management believes that operating netback and cash netback are useful supplemental measures for the reasons described in this press release.Reserves replacement is calculated as reserves in the referenced category divided by estimated referenced production. Management uses this measure to determine the relative change of its reserves base over a period of time.Reserve life index is calculated as reserves in the referenced category divided by the referenced production. Management uses this measure to determine how long the booked reserves will last at current production rates if no further reserves were added. Disclosure of Reserve Information and Cautionary Note to U.S. Investors

Unless expressly stated otherwise, all estimates of proved developed producing, proved, probable and possible reserves and related future net revenue disclosed in this press release have been prepared in accordance with NI 51-101. Estimates of reserves and future net revenue made in accordance with NI 51-101 will differ from corresponding GAAP standardized measures prepared in accordance with applicable SEC rules and disclosure requirements of the U.S. Financial Accounting Standards Board (“FASB”), and those differences may be material. NI 51-101, for example, requires disclosure of reserves and related future net revenue estimates based on forecast prices and costs, whereas SEC and FASB standards require that reserves and related future net revenue be estimated using average prices for the previous 12 months and that the standardized measure reflect discounted future net income taxes related to the Company’s operations. In addition, NI 51-101 permits the presentation of reserves estimates on a “company gross” basis, representing Gran Tierra’s working interest share before deduction of royalties, whereas SEC and FASB standards require the presentation of net reserve estimates after the deduction of royalties and similar payments. There are also differences in the technical reserves estimation standards applicable under NI 51-101 and, pursuant thereto, the COGEH, and those applicable under SEC and FASB requirements.

In addition to being a reporting issuer in certain Canadian jurisdictions, Gran Tierra is a registrant with the SEC and subject to domestic issuer reporting requirements under U.S. federal securities law, including with respect to the disclosure of reserves and other oil and gas information in accordance with U.S. federal securities law and applicable SEC rules and regulations (collectively, “SEC requirements”). Disclosure of such information in accordance with SEC requirements is included in the Company’s Annual Report on Form 10-K and in other reports and materials filed with or furnished to the SEC and, as applicable, Canadian securities regulatory authorities. The SEC permits oil and gas companies that are subject to domestic issuer reporting requirements under U.S. federal securities law, in their filings with the SEC, to disclose only estimated proved, probable and possible reserves that meet the SEC’s definitions of such terms. Gran Tierra has disclosed estimated proved, probable and possible reserves in its filings with the SEC. In addition, Gran Tierra prepares its financial statements in accordance with United States generally accepted accounting principles, which require that the notes to its annual financial statements include supplementary disclosure in respect of the Company’s oil and gas activities, including estimates of its proved oil and gas reserves and a standardized measure of discounted future net cash flows relating to proved oil and gas reserve quantities. This supplementary financial statement disclosure is presented in accordance with FASB requirements, which align with corresponding SEC requirements concerning reserves estimation and reporting.

The Company believes that the presentation of NPV10 is useful to investors because it presents (i) relative monetary significance of its oil and natural gas properties regardless of tax structure and (ii) relative size and value of its reserves to other companies. The Company also uses this measure when assessing the potential return on investment related to its oil and natural gas properties. NPV10 and the standardized measure of discounted future net cash flows do not purport to present the fair value of the Company’s oil and gas reserves. The Company has not provided a reconciliation of NPV10 to the standardized measure of discounted future net cash flows because it is impracticable to do so.

RCM Technologies, Inc. (RCMT - Free Report) closed at $19.23 in the latest trading session, marking a +1.05% move from the prior day. The stock's performance was ahead of the S&P 500's daily loss of 0.94%. Meanwhile, the Dow lost 0.83%, and the Nasdaq, a tech-heavy index, lost 1.02%.

Coming into today, shares of the company had lost 9.25% in the past month. In that same time, the Business Services sector lost 2.86%, while the S&P 500 lost 1.3%.

The upcoming earnings release of RCM Technologies, Inc. will be of great interest to investors. The company is expected to report EPS of $0.58, up 18.37% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $81.9 million, indicating a 6.49% increase compared to the same quarter of the previous year.

For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $2.32 per share and a revenue of $314.83 million, representing changes of +14.29% and +13.09%, respectively, from the prior year.

It is also important to note the recent changes to analyst estimates for RCM Technologies, Inc. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.

Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.

The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Currently, RCM Technologies, Inc. is carrying a Zacks Rank of #3 (Hold).

With respect to valuation, RCM Technologies, Inc. is currently being traded at a Forward P/E ratio of 7.46. This indicates a discount in contrast to its industry's Forward P/E of 11.88.

The Staffing Firms industry is part of the Business Services sector. With its current Zacks Industry Rank of 224, this industry ranks in the bottom 9% of all industries, numbering over 250.

The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.

KB Home (KBH - Free Report) closed the most recent trading day at $60.52, moving -1.06% from the previous trading session. This change lagged the S&P 500's 0.94% loss on the day. Elsewhere, the Dow saw a downswing of 0.83%, while the tech-heavy Nasdaq depreciated by 1.02%.

The homebuilder's shares have seen an increase of 6.27% over the last month, surpassing the Construction sector's gain of 6.21% and the S&P 500's loss of 1.3%.

Market participants will be closely following the financial results of KB Home in its upcoming release. The company is forecasted to report an EPS of $0.53, showcasing a 64.43% downward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.11 billion, down 20.57% from the year-ago period.

In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $4.19 per share and a revenue of $5.59 billion, indicating changes of -35.74% and -10.38%, respectively, from the former year.

Investors should also note any recent changes to analyst estimates for KB Home. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 1.02% higher. As of now, KB Home holds a Zacks Rank of #4 (Sell).

Valuation is also important, so investors should note that KB Home has a Forward P/E ratio of 14.61 right now. This signifies a premium in comparison to the average Forward P/E of 14.22 for its industry.

One should further note that KBH currently holds a PEG ratio of 7.99. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As of the close of trade yesterday, the Building Products - Home Builders industry held an average PEG ratio of 1.73.

The Building Products - Home Builders industry is part of the Construction sector. At present, this industry carries a Zacks Industry Rank of 232, placing it within the bottom 6% of over 250 industries.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

In the latest trading session, Amkor Technology (AMKR - Free Report) closed at $44.59, marking a -6.73% move from the previous day. The stock's performance was behind the S&P 500's daily loss of 0.94%. Meanwhile, the Dow experienced a drop of 0.83%, and the technology-dominated Nasdaq saw a decrease of 1.02%.

The chip packaging and test services provider's shares have seen a decrease of 0.81% over the last month, surpassing the Computer and Technology sector's loss of 4.34% and the S&P 500's loss of 1.3%.

The investment community will be paying close attention to the earnings performance of Amkor Technology in its upcoming release. The company is expected to report EPS of $0.23, up 155.56% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $1.65 billion, up 25.01% from the year-ago period.

In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $1.62 per share and a revenue of $7.26 billion, indicating changes of +8% and +8.22%, respectively, from the former year.

Investors should also pay attention to any latest changes in analyst estimates for Amkor Technology. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.

Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 2.1% upward. Currently, Amkor Technology is carrying a Zacks Rank of #3 (Hold).

Digging into valuation, Amkor Technology currently has a Forward P/E ratio of 29.45. This indicates a discount in contrast to its industry's Forward P/E of 38.01.

The Electronics - Semiconductors industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 83, putting it in the top 34% of all 250+ industries.

The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

To follow AMKR in the coming trading sessions, be sure to utilize Zacks.com.

PAR Technology Corporation has shown some progress on several fronts but increasing fears of AI disruption has buffeted the stock. Recent wins, including a major Papa Johns deal and the launch of PAR AI, somewhat validate the single-platform strategy amid industry SaaS and AI concerns. The company just announced a significant stock repurchase program and is projected to see significant profit growth over the next couple of years.

Q4: 2026-03-02 Earnings SummaryEPS of $0.96 beats by $0.05

 |

Revenue of

$14.88B

(11.49% Y/Y)

beats by $701.86M

Ingram Micro Holding Corporation (INGM) Morgan Stanley Technology, Media & Telecom Conference 2026 March 3, 2026 12:15 PM EST

Company Participants

Paul Bay - CEO & Director
Michael Zilis - Executive VP & CFO

Conference Call Participants

Erik Woodring - Morgan Stanley, Research Division

Presentation

Erik Woodring
Morgan Stanley, Research Division

Good morning, everyone. Welcome to Day 2 of the Morgan Stanley TMT Conference. My name is Erik Woodring. I lead the U.S. IT hardware practice here at Morgan Stanley. I'm delighted to be joined by Ingram Micro, the team, Paul Bay, CEO; Mike Zilis, CFO.

Before we do quick introductions, for important disclosures please see the Morgan Stanley research disclosure website at www.morganstanley.com/researchdisclosures. If you have any questions, please reach out to your Morgan Stanley sales representative. So I'd love everyone to please in welcoming Paul Bay, CEO of Ingram Micro, Mike Zilis, EVP and CFO. Both mainstays of the company, have been around for a long time. know the company extremely well, obviously. So it going to be a great conversation. Thank you for joining us.

Paul Bay
CEO & Director

Thanks for having us. Glad to be here.

Question-and-Answer Session

Erik Woodring
Morgan Stanley, Research Division

So the easiest and most natural place to kind of start the conversation is recapping 4Q earnings from last night amid a very red day in the market. There are spots of green and Ingram Micro is one of those spots. So congratulations on the execution. Can you just touch maybe highlights from the December quarter, highlights for the year of 2025 and maybe what the message is as we're entering a very dynamic 2026.

Paul Bay
CEO & Director

Yes. So I'll start and then Michael will obviously jump in. So we had great growth for Q4, 11.5% revenue growth. We exceeded the high end of

Sarepta Therapeutics, Inc. (SRPT) Presents at TD Cowen 46th Annual Health Care Conference Transcript

UDR, Inc. (UDR) Citi's Miami Global Property CEO Conference 2026 March 3, 2026 11:40 AM EST

Company Participants

Tom Toomey - Chairman, President & CEO
Michael Lacy - Senior VP & COO
David Bragg - Senior VP & CFO
Christopher Van Ens - Senior Vice President of Investment Strategy

Conference Call Participants

Eric Wolfe - Citigroup Inc., Research Division

Presentation

Eric Wolfe
Citigroup Inc., Research Division

2026 Global Property CEO Conference. I'm Eric Wolfe with Citi Research, and we are pleased to have with us UDR and CEO, Tom Toomey. This session is for Citi clients only and disclosures have been made available at the corporate access desk. To ask a question, you can raise your hand or go to liveqa.com and enter code GPC-26 to submit questions. Tom, we'll turn it over to you to introduce your team, give some opening remarks and tell investors the top reasons to own your stock today. And I think it's confusing because it has to be read. So I think you got to press that button there.

Tom Toomey
Chairman, President & CEO

Again, thank you for all attending this. We look forward to our conversations and the Q&A portion of it. Eric, a special thanks to you and the team. I'm thinking back that I might have been to 30 of these now, and you guys a great job at that. So congratulations. So let me begin with introductions. And to my left is Dave Bragg, our CFO. To my right is Mike Lacy and our COO; and Chris Van Ens, who does a lot of things. So we'll leave it at that for Chris. But all of you should have, if not, please raise your hand -- focus on our value creation mechanisms primarily through operations, continual innovation and capital allocation. So where are we at in this part of the cycle? How do we see the business evolving and strategies? I think we'll get

Kitco News

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Kitco NEWS has a diverse team of journalists reporting on the economy, stock markets, commodities, cryptocurrencies, mining and metals with accuracy and objectivity. Our goal is to help people make informed market decisions through in-depth reporting, daily market roundups, interviews with prominent industry figures, comprehensive coverage (often exclusive) of important industry events and analyses of market-affecting developments.

KKR's Henry McVey joins 'Closing Bell Overtime' to talk the geopolitical worries vexing the markets.

Teradata Corporation (TDC) Morgan Stanley Technology, Media & Telecom Conference 2026 March 3, 2026 3:20 PM EST

Company Participants

John Ederer - Chief Financial Officer
Sumeet Arora - Chief Product Officer

Conference Call Participants

Erik Woodring - Morgan Stanley, Research Division

Presentation

Erik Woodring
Morgan Stanley, Research Division

Okay. Cool. Why don't we get started, guys. Welcome to day 2 afternoon of day 2 of the Flagship TMT Conference. My name is Erik Woodring. I lead Morgan Stanley's hardware coverage here. I am delighted to be joined by John Ederer, CFO of Teradata; Sumeet Arora, Teradata's Chief Product Officer. Both of you guys, thank you and welcome to the conference.

John Ederer
Chief Financial Officer

Thanks for having us.

Question-and-Answer Session

Erik Woodring
Morgan Stanley, Research Division

Before we begin, let me point everyone to the Morgan Stanley research disclosure website at www.morganstanley.com/researchdisclosures. If you have any questions, please reach out to your Morgan Stanley sales representative. So with that out of the way, this is the first time that I've been able to host both of you at the TMT conference both relatively new to the role that you're sitting in right now.

I'd love just to start the conversation, just quick background, maybe 1 or 2 priorities for each of you as you think about the changes you want to kind of enact in your relative seats, and then we'll go from there.

John Ederer
Chief Financial Officer

Sure. Well, I'll kick things off, even though Sumeet predated me by about 30 days. But yes, I joined last May and very excited to be on board. I've been in the software industry for 20-plus years. And before that, I actually started in your chair, I was a research analyst for about a decade before making the jump over. And so spent a lot of time in enterprise software, most recently

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BCE Inc. (BCE:CA) Morgan Stanley Technology, Media & Telecom Conference 2026 March 3, 2026 3:20 PM EST

Company Participants

Mirko Bibic - CEO, President & Director

Conference Call Participants

Benjamin Swinburne - Morgan Stanley, Research Division

Presentation

Benjamin Swinburne
Morgan Stanley, Research Division

Okay. I'm Ben Swinburne, Morgan Stanley's telecom and media analyst. Quick disclosures. For important disclosures, please see the Morgan Stanley research disclosure website at morganstanley.com/researchdisclosures. If you have any questions, please reach out to your Morgan Stanley sales rep.

And we are excited, I think, to welcome to the conference, I believe, for the first time, Mirko Bibic, who has served as President and CEO of Bell and Bell Canada since January of 2020. Mirko, thanks for being here.

Mirko Bibic
CEO, President & Director

Thank you, Ben. Glad to be here.

Question-and-Answer Session

Benjamin Swinburne
Morgan Stanley, Research Division

So you had an Investor Day, as you know, back in October, laid out a long-term vision for the company, a 3-year strategic plan. Revenue growth of 2% to 4%, adjusted EBITDA of 2% to 3% through '28. Why don't we start, level set for the audience sort of the key pillars underpinning that growth outlook for the business?

Mirko Bibic
CEO, President & Director

Yes. So thanks for the question. Throughout the course of 2025 last year, we really set about kind of outlining with clarity a forward-looking capital markets and operational strategy. Obviously, they work hand in glove. And you've now got before you a BC and the Bell Canada, essentially a renewed energy, renewed vigor, a lot of optimism around the plan. And I think from an investor point of view, what I'd really highlight is, as a management team, we've declared ourselves, like we've outlined what we are going to do over the next 3 years. And so now we've got a management team that's focused entirely on

Jacobs Solutions Inc. (J) 47th Annual Raymond James Institutional Investor Conference March 3, 2026 10:25 AM EST

Company Participants

Venkatesh Nathamuni - Executive VP & CFO
Robert Pragada - CEO & Chair of the Board

Conference Call Participants

Brian Gesuale

Presentation

Brian Gesuale

I'm Brian Gesuale, covering analyst of Jacobs Solutions. Really delighted to have the company here to present their story. If it's not obvious, we're going to do a fireside chat appearance. If there are some questions from the audience, please raise your hand, and we'll try to get to those as we go through. But I have Bob Pragada, Chief Executive Officer, here joining me; and Venk Nathamuni, Chief Financial Officer here, joining me as well to take us through the story. Welcome, guys.

Venkatesh Nathamuni
Executive VP & CFO

Thank you, that's fine.

Question-and-Answer Session

Brian Gesuale

Bob, maybe we level set here, take a few minutes to set the audience and give investors a perspective on your core services that you provide, the markets you serve, the geographic footprint that you have and really Jacobs right to win.

Robert Pragada
CEO & Chair of the Board

Sounds good. So just as an overview, we are in the technical advisory, engineering and program delivery market around 3 main verticals. Those 3 verticals are the life sciences and advanced manufacturing world. I'll come back to that in a second. Second is around water and environmental. And our third is what we call critical infrastructure. Critical infrastructure embodies transportation, energy and power and our cities and places business as well.

And that really came from deep core roots in the engineering space dating all the way back to the 1940s. I think where we play the strongest is some of the biggest technology innovation as well as some