Presidio closes $83M Canyon Creek acquisition; expects dividend increase to $1.50/share

PRESIDIO PRODUCTION Co

• Purchase price ~$83M; net PDP production ~21 MMcfe/d from 55 wells; estimated PDP PV-10 ~$100M.
• Funded via first $55M draw on new $1.0B ABS Warehouse Facility led by Goldman Sachs; Citizens Bank joined with 40% participation.
• Issued 1,962,240 shares of Class A common stock to sellers; entered Registration Rights Agreement.
• Expected dividend increase from $1.35 to $1.50 per share annually, subject to board approval.
• Strategic entry into Arkoma Basin; expected year-one FCF yield >20% and levered returns >20%.