2025 Full Year Results Announcement

Gulf Keystone Petroleum reported a strong operational and financial performance for 2025, with gross average production of 41,560 bopd, a 2% increase year-on-year, and revenue rising 28% to $193.1 million, driven by higher realised prices and the restart of pipeline exports in September. Adjusted EBITDA increased 46% to $111.4 million, while free cash flow was $29.1 million, supporting $50 million in dividends paid to shareholders. Despite a precautionary shut-in of the Shaikan Field in late February 2026 due to regional security concerns, the company maintains a debt-free balance sheet and flexibility to reduce expenditures, and has declared an interim dividend of $12.5 million.