BKV Corp

Together, these initiatives are driving capital efficient incremental production and value without requiring capital expenditures beyond our budget.

SEC original ↗BKV Corp — Earnings release (8-K exhibit)EX-99May 7, 2026

Capital Expenditures Accrued capital expenditures in the first quarter of 2026 were $118.6 million, which included $81.9 million for Upstream Midstream development capital, $16.7 million for Power, and $20.0 million for CCUS and other expenditures.

SEC original ↗BKV Corp — Earnings release (8-K exhibit)EX-99May 7, 2026

In addition, the Company spent an additional $33.1 million on deposits on fixed asset purchases in the quarter ending March 31, 2026, comprised 5 of payments for turbines, modular generation equipment, and other long lead time items in Power included within our Strategic Power Growth capital expenditures and investments guidance.

SEC original ↗BKV Corp — Earnings release (8-K exhibit)EX-99May 7, 2026

Accrued capital expenditures for the same period in 2025 were $58.1 million, which included $47.9 million for Upstream Midstream development capital, $0.1 million for Power, and $10.1 million for CCUS and other expenditures.

SEC original ↗BKV Corp — Earnings release (8-K exhibit)EX-99May 7, 2026

Liquidity and Debt attributable to BKV As of March 31, 2026, BKV had cash and cash equivalents of $288.5 million and restricted cash of $16.0 million related to the Power segment Temple Term Loan Facility.

SEC original ↗BKV Corp — Earnings release (8-K exhibit)EX-99May 7, 2026

Total debt as of March 31, 2026 was $1.3 billion, which was made up of the 2030 Senior Notes of $500.0 million, RBL balance of $100.0 million, a promissory note of $46.0 million, and Power segment debt facilities of $635.4 million consisting of borrowings under the Temple I Loan Agreements of $176.0 million, borrowings under the Temple Term Loan Facility of $399.4 million, and Temple Revolving Facility balance of $60.0 million.

SEC original ↗BKV Corp — Earnings release (8-K exhibit)EX-99May 7, 2026

These actions, combined with the continued advancement of our closed loop strategy, position BKV to capitalize on the opportunities ahead and drive long-term value for our shareholders.

SEC original ↗BKV Corp — Earnings release (8-K exhibit)EX-99May 7, 2026

Our first quarter results reflect a continued focus on disciplined capital allocation as we invest in growth across our platform, said David Tameron, Chief Financial Officer of BKV.

SEC original ↗BKV Corp — Earnings release (8-K exhibit)EX-99May 7, 2026

We generated strong free cash flow from our base business and deployed capital strategically, while maintaining a solid balance sheet and substantial liquidity.

SEC original ↗BKV Corp — Earnings release (8-K exhibit)EX-99May 7, 2026

In addition, we successfully executed an equity offering to support the continued expansion of our power business, reinforcing our ability to fund strategic initiatives while preserving financial flexibility, continued Tameron.

SEC original ↗BKV Corp — Earnings release (8-K exhibit)EX-99May 7, 2026

The Company continues to evaluate multiple avenues for expansion, including modular power development and a private use network at the Temple complex, as well as a potential Temple III expansion and new project opportunities in North Central Texas.

SEC original ↗BKV Corp — Earnings release (8-K exhibit)EX-99May 7, 2026

For further discussions of risks and uncertainties applicable to forward-looking statements, you should refer to BKV s filings with the Securities and Exchange Commission (the SEC ), including the Risk Factors section of BKV s most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q.

SEC original ↗BKV Corp — Earnings release (8-K exhibit)EX-99May 7, 2026