Key findings – Fiscal year 2025:

• The construction of the "Khor Mor 250" gas expansion project in the Khor Mor field has been completed.
• Production from the Khor Mor gas field is expected to rise to more than 700 million cubic feet per day in January 2026, an increase of more than 30% (post-period) .
• The group's production is expected to rise to 70,000 barrels of oil equivalent per day in January 2026, the highest level since 2018.
• A strong balance sheet and positive net cash at year-end.
• The company's board of directors is scheduled to consider a dividend recommendation during its meeting in March.

Sharjah, United Arab Emirates: Dana Gas PJSC (“the Company”), the largest privately owned natural gas company in the Middle East, today announced its preliminary unaudited financial results for the financial year ended December 31, 2025.

The company recorded net profits of AED 476 million ($130 million) during the 2025 financial year, compared to AED 553 million ($151 million) in the 2024 financial year.

The year's revenues amounted to AED 1.28 billion ($348 million), which is less than the revenues for the fiscal year 2024, which included exceptional one-off revenues of $46 million resulting from revenues realized from the increase in the agreed gas price under the concession area merger agreement, which were calculated retroactively during the fourth quarter of 2024. Excluding this non-recurring item, and on a like-for-like basis, the decrease in revenues for 2025 is due to the decline in production in Egypt, along with the decrease in realized selling prices linked to oil prices, as the average price of Brent crude was $69 per barrel in 2025 compared to $81 per barrel in 2024 .

2025 marked a significant operational milestone for Dana Gas, with the completion of the Khor Mor 250 gas expansion project in October 2025, alongside the continued implementation of the company's investment program in Egypt. These efforts contributed to a substantial increase in the group's production, reaching 70,000 barrels of oil equivalent per day in January 2026 (post-period), the highest level achieved by the company since 2018 .

With the completion of the Khor Mor 250 project, the gas processing capacity at the Khor Mor field has increased to 750 million standard cubic feet per day (MMscfd), while actual production rates have reached over 700 MMscfd during peak demand periods. Production levels continue to be affected by seasonal demand patterns until the new main pipeline connecting the Khor Mor field to new areas is commissioned, expected in the second half of 2026, which will enable the company to operate sustainably at full production capacity.

At the group level, production is expected to increase to approximately 75,000 barrels of oil equivalent per day once the pipeline is operational, reflecting increased utilization rates of gas, condensate, and liquefied petroleum gas (LPG). At full capacity, the Khor Mor 250 expansion is expected to contribute over 35% to the company's annual revenue, with the financial impact of the new production anticipated to be reflected from the first quarter of 2026 and expected to increase further as production rates rise .

On this occasion, Mr. Richard Hall, CEO of Dana Gas, said:

“2025 was a pivotal year for Dana Gas, as we successfully implemented priorities that had been pending for some time, most notably the completion and commissioning of the Khormore 250 expansion project. This achievement represents a significant turning point for the company and reflects the pragmatic, execution-based approach we have followed throughout the year.”

Meanwhile, we have made significant progress in Egypt, where we resumed investment under improved financial conditions and implemented a successful drilling program that has enabled us to achieve stable production rates and overcome the natural decline our Egyptian assets experienced in recent years. These efforts have been a crucial step in getting Egypt back on track, and we are optimistic about the results we anticipate achieving this year.

Looking ahead, we are excited about the Jamjamal field development project as the foundation for the company's growth over the next few years, and with the signing of the gas sales agreements, we are on solid ground that enables us to move towards the implementation phase.

Overall, 2025 was a year of achievement, while 2026 will be a year of reaping the rewards of these efforts as new production comes into full operation. This improvement in our production base, coupled with strong structural demand for gas in our key markets, gives us a clear outlook for growth and cash flow generation. This will enable the company's board of directors to consider recommending a dividend distribution at its next meeting in March.

Iraqi Kurdistan Region

In the Kurdistan Region of Iraq, Dana Gas and its partners successfully completed and commissioned the Khor Mor 250 gas expansion project in October 2025, eight months ahead of schedule. The project added 250 million cubic feet per day (MMcf/d) of new gas processing capacity, increasing the Khor Mor field's total production capacity by 50% to 750 MMcf/d.

In January 2026, actual gas production from the Khor Mor field increased to 700 million cubic feet per day (MMcf/d), contributing approximately 15,000 barrels of oil equivalent per day to the company's net production in the region. Production levels continue their gradual upward trajectory as the infrastructure reaches full operational capacity.

The next phase of the company’s growth in the region is centered around the Chemchemal field, where Pearl Petroleum committed during 2025 to investing $160 million in early appraisal and development work, and in January 2026 long-term gas sales agreements were signed to supply up to 142 million standard cubic feet per day to six industrial customers in the Kurdistan Region of Iraq.

Egypt

In Egypt, Dana Gas continued to implement its $100 million investment program under the Concession Areas Consolidation Agreement signed in late 2024. During fiscal year 2025, the company drilled four wells and implemented a recompletion program for three additional wells, contributing to the addition of approximately 30 million cubic feet per day of new production, along with 36 billion cubic feet of reserves .

Production rates in Egypt declined during 2025 due to the natural decline in output from the company's fields in the Nile Delta. However, successful drilling and recompletion operations carried out last year, along with additional wells planned for 2026, are expected to stabilize production and gradually return it to a growth trajectory. Dana Gas intends to drill seven additional wells in Egypt during 2026, with the first of these, the Dafodel exploration well, having commenced drilling in January 2026 .

In December 2025, the company received a payment of AED 183 million (US$50 million) from the Egyptian government, which significantly reduced outstanding receivables. This payment supports the ongoing drilling program under the concession agreement and strengthens the financial framework, thus supporting the resumption of investments in Egypt's exploration and production sectors .

Updates on operational and production processes

The group’s average production during fiscal year 2025 was approximately 53,500 barrels of oil equivalent per day, compared to 56,500 barrels of oil equivalent per day in fiscal year 2024. Average production in the Kurdistan Region of Iraq increased by 2% to reach 40,900 barrels of oil equivalent per day, supported by continued demand from power generation plants and increased gas production from the Khor Mor field.

In Egypt, average production declined by 23% to 12,600 barrels of oil equivalent per day (boepd) compared to 16,450 boepd in fiscal year 2024, due to the natural decline in field production rates. The company's investment program is expected to reverse this trend and return production to a growth trajectory by 2026.

Cash liquidity

As of December 31, 2025, Dana Gas had a total cash balance of AED 788 million (USD 215 million), which includes AED 392 million (USD 107 million) held by Pearl Petroleum.

Total cash payments received during the 2025 financial year amounted to approximately AED 1.1 billion (USD 303 million), including AED 748 million (USD 204 million) from its operations in the Kurdistan Region of Iraq and AED 363 million (USD 99 million) from Egypt. Outstanding receivables stood at AED 139 million (USD 38 million) in Egypt and AED 293 million (USD 80 million) in the Kurdistan Region of Iraq at year-end.

Throughout the year, the company maintained a disciplined approach to its capital investments and cost management, enabling it to maintain a strong balance sheet and continue to fund growth-supporting investments within its core assets.

About Dana Gas :

Dana Gas is the first and largest private natural gas company in the Middle East, established in December 2005 and listed on the Abu Dhabi Securities Exchange . The company has exploration and production assets in Egypt, the Kurdistan Region of Iraq, and the United Arab Emirates .

With its substantial assets in Egypt, the Kurdistan Region of Iraq, and the United Arab Emirates, and its expansion plans, Dana Gas plays a significant role in the rapidly growing natural gas sector across the Middle East, North Africa, and South Asia . www.danagas.com

Communication and investor relations :

Mohammed Al-Mubaideen, Head of Investor Relations and Corporate Communications

Ir@danagas.com

-I finish-

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