Phoenix Energy closes $54M preferred share IPO; begins trading on NYSE American

Phoenix Energy One, LLC

Sold 2.7M Series A Cumulative Redeemable Preferred Shares at $20/share for ~$54.1M gross proceeds.
Preferred shares began trading Sept 30, 2025 on NYSE American under ticker PHXE.P.
Annual distribution rate starts at 10%, steps to 10.5% (Oct 2028) and 11% (Oct 2029).
Initial distribution of $0.11111/share payable Oct 15, 2025 to holders of record Oct 1.
Five new directors appointed and Third Amended LLC Agreement adopted to govern preferred share terms.

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