Journey Generates $18.5 Million of Net Income in the Second Quarter of 2026

Calgary, Alberta--(Newsfile Corp. - August 6, 2026) - Journey Energy Inc. (TSX: JOY) (OTCQX: JRNGF) (" Journey " or the " Company ") is pleased to announce its financial and operating results for the three and six month periods ending June 30, 2026. The complete set of financial statements and management discussion and analysis are posted on www.sedarplus.com and on the Company's website www.journeyenergy.ca . Highlights for the second quarter are as follows: Generated sales volumes of 10,017 boe/d in the second quarter (51% crude oil; 11% NGL's; 38% natural gas) Recorded $18.5 million in net income or $0.27 per basic share and $0.26 per diluted share. Realized Adjusted Funds Flow of $18.4 million or $0.27 per basic share and $0.26 per diluted share. Brought on-stream 4 (1.2 net) Duvernay light oil wells late in the quarter from the 06-04-043-03W5 drilling pad. Production results from these wells are averaging IP30 rates of approximately 1,115 BOE/d and 84% liquids per well (855 BBL/d of crude oil, 80 BBL/d of NGLs, and 1.1 MMcf/d of natural gas). Closed on the disposition of 950 boe/d (100% natural gas), the Countess power generating facility, and $20 million of decommissioning obligations on June 1 for proceeds of $7.0 million. On June 24, 2026, Journey's Gilby Power Plant made its first power sales to the distribution grid. Subsequent Events: Completed drilling on the 01-19-43-03W5 pad. 5 (1.5 net) Duvernay wells are awaiting completion. Began completing 3.0 (0.3 net) wells on the 04-20-41-03W5 pad. Began drilling 4 (1.2 net) wells on the 02-22-42-04W5 pad. In total, Journey is participating in the completion of 3 (0.3 net) wells and has 6 (1.8) net wells drilled, cased, and awaiting completion. Financial & Operating Highlights Three months ended June 30, Six months ended June 30, Financial ($000's except per share amounts) 2026 2025 % change 2026 2025 % change Sales revenue 63,186 45,196 40 111,175 97,228 14 Net income (loss) 18,509 4,065 355 12,660 11,793 7 Per basic share ($) 0.27 0.06 350 0.19 0.18 6 Per diluted share ($) 0.26 0.06 333 0.18 0.18 - Adjusted Funds Flow 18,388 15,889 16 32,088 35,508 (10) Per basic share ($) 0.27 0.24 13 0.48 0.53 (9) Per diluted share ($) 0.26 0.24 8 0.46 0.53 (13) Cash flow provided by operating activities 19,490 11,112 75 33,857 24,774 37 Per basic share ($) 0.29 0.17 71 0.50 0.37 35 Per diluted share ($) 0.28 0.17 68 0.49 0.37 32 Capital expenditures, including net A&D 17,838 25,469 (30) 34,871 35,043 - Net debt 57,755 64,452 (10) 57,755 64,452 (10) Share Capital (000's) Basic, weighted average 67,481 67,107 1 67,481 67,107 1 Basic, end of period 67,481 67,107 1 67,481 67,107 1 Fully diluted 1 77,870 69,497 12 77,870 69,497 12 Daily Sales Volumes Natural gas (mcf/d): Conventional 18,126 21,919 (17) 18,515 21,981 (16) Shale 2,389 1,273 88 2,463 1,093 125 Coal bed methane 2,407 3,663 (34) 2,973 3,776 (21) Total natural gas volumes 22,922 26,855 (15) 23,951 26,850 (11) Crude oil (bbl/d): Light/medium 2,294 2,578 (11) 2,330 2,654 (12) Tight (shale) 806 646 25 722 544 33 Heavy 1,974 2,103 (6) 1,983 2,131 (7) Total crude oil volumes 5,074 5,327 (5) 5,035 5,329 (6) Natural gas liquids (bbl/d) 1,123 1,147 (2) 1,208 1,169 3 Barrels of oil equivalent (boe/d) 10,017 10,950 (9) 10,235 10,973 (7) Average Realized Prices Natural gas ($/mcf) 2 1.64 1.86 (12) 1.94 2.05 (5) Crude Oil ($/bbl) 117.63 75.32 56 102.33 80.43 27 Natural gas liquids ($/bbl) 53.30 39.64 34 43.49 45.82 (5) Barrels of oil equivalent ($/boe) 1 69.32 45.36 53 60.01 48.95 23 Operating Netback ($/boe) Realized prices 2 69.32 45.36 53 60.01 48.95 23 Royalties (15.14) (7.24) 109 (11.59) (8.24) 41 Operating expenses (21.77) (17.58) 24 (21.36) (18.32) 17 Transportation expenses (1.75) (0.92) 90 (1.68) (0.99) 70 Operating netback 30.66 19.62 56 25.38 21.40 19