Supports Expected Dividend Increase to $1.50 per Share

Establishes Land-and-Expand Platform for Consolidation in Arkoma Basin

Presidio Production Company (NYSE:FTW) ("Presidio" or the "Company"), a yield-focused, differentiated oil and gas operator in the United States focused on the acquisition and optimization of producing oil and natural gas wells, without drilling, today announced the execution of definitive purchase and sale agreements to acquire the Canyon Creek assets for approximately $83 million (the "Transaction") from companies controlled by Vortus Investments and additional sellers (the "Sellers"). The Company previously announced a letter of intent for the Transaction on February 24, 2026.

The Transaction is expected to be funded with $60 million of cash and 2,173,913 shares of Presidio equity to be issued to the Sellers, subject to customary closing and post-closing adjustments. The cash will be funded using Presidio's previously announced, first of its kind, $1.0 billion Goldman Sachs ABS Warehouse Facility, and cash on hand.

Presidio expects the Canyon Creek assets to generate levered equity returns exceeding 20%, while expanding the Company's operating footprint into an adjacent basin and establishing a platform for future consolidation consistent with its proven land-and-expand strategy.

The Transaction is expected to close early in the third quarter of 2026, subject to customary closing conditions, and would represent Presidio's first completed acquisition as a public company. Consistent with prior disclosures, the Company believes the Transaction will support an increase to its anticipated annual dividend from $1.35 to $1.50 per share.

Acquisition Highlights

Strategic entry into the Arkoma Basin
First use of $1.0 billion Goldman Sachs ABS Warehouse Facility
Current net PDP production of approximately 21.4 MMcfe/d, from 55 producing wells, as of April 2026
- 70% natural gas, 30% NGLs
- 11% annual decline
Estimated Proved Developed Producing PV-10 of approximately $100 million
Estimated Net Proved Developed Producing Reserves of approximately 100 Bcfe
Expected year-one free cash flow yield in excess of 20%
Expected levered returns in excess of 20%

"We are pleased to sign the Purchase and Sale Agreements for the Canyon Creek assets, and we look forward to closing the Transaction. This deal is a key step in our growth trajectory, as it provides Presidio with a high-quality foothold in an adjacent basin that aligns perfectly with our land-and-expand strategy," said Will Ulrich, Co-Founder and Co-CEO of Presidio. "We expect these assets to generate strong returns, demonstrating the strength of our business model as well as our ability to increase dividends through acquisitions. Our backlog is stronger than ever, and we are actively pursuing our next acquisition opportunity."

Chris Hammack, Co-Founder and Co-CEO of Presidio continued, "This Transaction reflects exactly how we intend to grow Presidio, by acquiring producing assets as a footprint for consolidation and optimization. We will be ready on day one to implement our operational efficiency improvements and production enhancements."

Advisors

Opportune Partners LLC served as financial advisor to Presidio. Latham & Watkins LLP served as legal counsel to Presidio. Conner & Winters, LLP, Akin Gump Strauss Hauer & Feld LLP, and Holland & Knight LLP served as counsel for various Sellers.

About Presidio

Headquartered in Fort Worth, TX, Presidio (NYSE:FTW) is a leading operator of stable oil and gas wells across the Mid-Continent. Presidio is a yield-focused, differentiated oil and gas operator in the United States focused on the acquisition and optimization of producing oil and natural gas wells, without drilling. To learn more about Presidio, please visit https://bypresidio.com/.

Forward-Looking Statements

The statements contained in this press release that are not purely historical are forward-looking statements. These forward-looking statements include, but are not limited to, statements regarding our expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intends," "may," "might," "plan," "possible," "potential," "predict," "project," "should," "would" and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking.

The forward-looking statements contained in this press release are based on our current expectations and beliefs concerning future developments and their potential effects on the Company. There can be no assurance that future developments affecting the Company will be those that we have anticipated. These forward-looking statements speak only as of the date this press release is actually delivered and involve a number of risks, uncertainties (some of which are beyond our control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. Should one or more of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements.

Factors that may cause actual results to differ materially from current expectations include, but are not limited to: (1) the outcome of any legal proceedings relating to the Transaction that may be instituted against the Company or others; (2) the ability to recognize the anticipated benefits of the Transaction, which may be affected by, among other things, competition, the ability of the Company to reduce operating costs, grow and manage growth profitably, maintain relationships with customers and suppliers, successfully integrate the Canyon Creek assets into the assets of the Company and retain its management and key employees; (3) changes in applicable laws or regulations; (4) the possibility that the Company may be adversely affected by other economic, business, and/or competitive factors; (5) changes in domestic and foreign business, market, financial, political conditions, and in applicable laws and regulations; (6) the ability to meet stock exchange listing standards; (7) the ability of the Company to build or maintain relationships with customers and suppliers and retain its management and key employees; (8) risks related to commodity price volatility and its impact on cash flows and dividend sustainability; (9) risks related to oil and gas operations, including production declines, operational challenges, and regulatory changes; (10) the Company's ability to consummate the Transaction; (11) risks related to the Company's ability to pay, maintain or increase dividend payments; and (12) other risk factors described herein as well as the risk factors and uncertainties described in documents filed by the Company with the U.S. Securities and Exchange Commission (the "SEC"), the sections entitled "Risk Factors" and "Cautionary Note Regarding Forward-Looking Statements" and similar sections in its filings with the SEC, and any periodic Exchange Act reports filed with the SEC such as its Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. The recipient of this press release should carefully consider the foregoing risk factors and the other risks and uncertainties which will be more fully described in the documents filed by the Company from time to time with the SEC. If any of these risks materialize or the underlying assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements.

In addition, there may be additional risks that the Company presently knows, or that it currently believes are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. Nothing in this communication should be regarded as a representation or warranty, either express or implied, by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made.

In addition, the information contained in this press release is provided as of the date hereof and may change, and the Company and its representatives and affiliates specifically disclaim any obligation to, and do not intend to, update or revise any forward-looking statements, whether as a result of new information, inaccuracies, future events or otherwise, except as may be required under applicable securities laws. Information contained on our website is not a part of or incorporated into this press release. Dividends are not guaranteed and may be adjusted, suspended, or discontinued at the discretion of the Board of Directors based on liquidity, legal surplus, business conditions, commodity price volatility, market conditions and other factors. Completion of the Transaction remains subject to customary closing conditions. There can be no assurance that the anticipated benefits will be realized if completed or that the Transaction will be completed on the terms described herein, or at all.

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Presidio Media and Investor Contact:

Presidio@icrinc.com

Presidio Executes Purchase Agreements for Canyon Creek Acquisition