#337jili Q3 2024 Overview SAN DIEGO , Dec. 5, 2024 /PRNewswire/ -- Petco Health and Wellness Company, Inc. (Nasdaq: WOOF), a complete partner in pet health and wellness, today announced its third quarter 2024 financial results. In the third quarter of 2024, Petco delivered net revenue of $1.51 billion , up 1.2 percent versus prior year. On an as-reported basis, the company's consumables business was up 2.7 percent versus prior year, and services and other business was up 5.0 percent versus prior year. Growth in the company's consumables and services and other businesses was offset by the company's supplies and companion animal business, down 2.8 percent versus prior year. GAAP net loss in the third quarter of 2024 was $16.7 million , or $(0.06) per share, compared to GAAP net loss of $1.2 billion , or $(4.63) per share in the prior year, which included a $1.2 billion non-cash goodwill impairment charge associated with goodwill originally recorded in 2015. Adjusted Net Income 1 was $(6.5) million , or $(0.02) per share 1 , compared to $(14.5) million , or $(0.05) per share 1 in the prior year. Adjusted EBITDA 1 was $81.2 million compared to $72.2 million in the prior year. "Our third quarter results demonstrate the meaningful progress we're making to strengthen our retail fundamentals to drive sustainable, profitable growth," said Joel Anderson , Petco's Chief Executive Officer. "While there is more work to do, our improving results increase our conviction that we are on the right path to position Petco to win long-term. Our entire organization is focused on driving profitability and free cash flow, and I'm confident we're set up for a solid finish to 2024." (1) Adjusted EBITDA, Adjusted Net Income, Adjusted Earnings Per Share ("Adjusted EPS"), and Free Cash Flow are non-GAAP financial measures. See "Non-GAAP Financial Measures" for additional information on non-GAAP financial measures and a reconciliation to the most comparable GAAP measures. Fiscal Q4 2024 Outlook The company is providing Q4 guidance for revenue, Adjusted EBITDA, and Adjusted EPS, in addition to full year interest expense and capital expenditure expectations. For Fiscal Q4 2024, the company expects: Metric* FQ4 2024 Guidance Net Revenue ~ $1.55 billion Adjusted EBITDA Between $90 million and $95 million, including a minimum of $10 million in third party consulting fees associated with our transformation effort Adjusted EPS Between $0.00 and $0.02 For Fiscal 2024 (a 52-week year), the company expects the following: Metric* 2024 Guidance, YoY Net interest expense ~$140 million Capital Expenditures ~$130 million *Assumptions in the guidance include that economic conditions, currency rates and the tax and regulatory landscape remain generally consistent. For fiscal 2024, our guidance anticipates a 26 percent tax rate, and 273 million weighted average diluted share count. Adjusted EBITDA and Adjusted EPS are non-GAAP financial measures and have not been reconciled to the most comparable GAAP outlook because it is not possible to do so without unreasonable efforts due to the uncertainty and potential variability of reconciling items, which are dependent on future events and often outside of management's control and which could be significant. Because such items cannot be reasonably predicted with the level of precision required, we are unable to provide outlook for the comparable GAAP measures. Forward-looking estimates of Adjusted EBITDA and Adjusted EPS are made in a manner consistent with the relevant definitions and assumptions noted herein and in our filings with the Securities and Exchange Commission. Earnings Conference Call Webcast Information: Management will host an earnings conference call on December 5, 2024 at approximately 4:30 PM Eastern Time to discuss the company's financial results. The conference call will be accessible through a live webcast. Interested investors and other individuals can access the webcast, earnings release, and earnings presentation via the company's investor relations page at ir.petco.com . A replay of the webcast will be archived on the company's investor relations page through December 19, 2024 until approximately 5:00 PM Eastern Time . About Petco, The Health + Wellness Co.: Founded in 1965, Petco is a category-defining health and wellness company focused on improving the lives of pets, pet parents and our own Petco partners. We've consistently set new standards in pet care while delivering comprehensive pet wellness products, services and solutions, and creating communities that deepen the pet-pet parent bond. We operate more than 1,500 pet care centers across the U.S., Mexico and Puerto Rico , which offer merchandise, companion animals, grooming, training and a growing network of on-site veterinary hospitals and mobile veterinary clinics. Our complete pet health and wellness ecosystem is accessible through our pet care centers and digitally at petco.com and on the Petco app . In tandem with Petco Love , a life-changing independent nonprofit organization, we work with and support thousands of local animal welfare groups across the country and, through in-store adoption events, we've helped find homes for nearly 7 million animals. Forward-Looking Statements: This earnings release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 as contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, concerning expectations, beliefs, plans, objectives, goals, strategies, future events or performance and underlying assumptions and other statements that are not statements of historical fact, including, but not limited to, statements regarding our Q4 and full year 2024 guidance, operational reset of our business, our competitive positioning, profitability, cost action plans and associated cost-savings. Such forward-looking statements can generally be identified by the use of forward-looking terms such as "believes," "expects," "may," "intends," "will," "shall," "should," "anticipates," "opportunity," "illustrative," or the negative thereof or other variations thereon or comparable terminology. Although Petco believes that the expectations and assumptions reflected in these statements are reasonable, there can be no assurance that these expectations will prove to be correct or that any forward-looking results will occur or be realized. Nothing contained in this earnings release is, or should be relied upon as, a promise or representation or warranty as to any future matter, including any matter in respect of the operations or business or financial condition of Petco. All forward-looking statements are based on current expectations and assumptions about future events that may or may not be correct or necessarily take place and that are by their nature subject to significant uncertainties and contingencies, many of which are outside the control of Petco. Forward-looking statements are subject to a number of risks, uncertainties and other factors that could cause actual results or events to differ materially from the potential results or events discussed in the forward-looking statements, including, without limitation, those identified in this earnings release as well as the following: (i) increased competition (including from multi-channel retailers, mass and grocery retailers, and e-Commerce providers); (ii) reduced consumer demand for our products and/or services; (iii) our reliance on key vendors; (iv) our ability to attract and retain qualified employees; (v) risks arising from statutory, regulatory and/or legal developments; (vi) macroeconomic pressures in the markets in which we operate, including inflation, prevailing interest rates and the impact of tariffs; (vii) failure to effectively manage our costs; (viii) our reliance on our information technology systems; (ix) our ability to prevent or effectively respond to a data privacy or security breach; (x) our ability to effectively manage or integrate strategic ventures, alliances or acquisitions and realize the anticipated benefits of such transactions; (xi) economic or regulatory developments that might affect our ability to provide attractive promotional financing; (xii) business interruptions and other supply chain issues; (xiii) catastrophic events, political tensions, conflicts and wars (such as the ongoing conflicts in Ukraine and the Middle East ), health crises, and pandemics; (xiv) our ability to maintain positive brand perception and recognition; (xv) product safety and quality concerns; (xvi) changes to labor or employment laws or regulations; (xvii) our ability to effectively manage our real estate portfolio; (xviii) constraints in the capital markets or our vendor credit terms; (xix) changes in our credit ratings; (xx) impairments of the carrying value of our goodwill and other intangible assets; (xxi) our ability to successfully implement our operational adjustments, achieve the expected benefits of our cost action plans and drive improved profitability; and (xxii) the other risks, uncertainties and other factors identified under "Risk Factors" and elsewhere in Petco's Securities and Exchange Commission filings. The occurrence of any such factors could significantly alter the results set forth in these statements. Petco cautions that the foregoing list of risks, uncertainties and other factors is not complete, and forward-looking statements speak only as of the date they are made. Petco undertakes no duty to update publicly any such forward-looking statement, whether as a result of new information, future events or otherwise, except as may be required by applicable law, regulation or other competent legal authority. PETCO HEALTH AND WELLNESS COMPANY, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except per share amounts) (Unaudited and subject to reclassification) 13 Weeks Ended November 2, 2024 October 28, 2023 Percent Change Net sales: Products $ 1,263,194 $ 1,257,803 0 % Services and other 248,243 236,363 5 % Total net sales 1,511,437 1,494,166 1 % Cost of sales: Products 782,240 787,994 (1 %) Services and other 153,440 156,171 (2 %) Total cost of sales 935,680 944,165 (1 %) Gross profit 575,757 550,001 5 % Selling, general and administrative expenses 571,780 559,611 2 % Goodwill impairment — 1,222,524 (100 %) Operating income (loss) 3,977 (1,232,134) N/M Interest income (1,346) (1,139) 18 % Interest expense 35,797 36,557 (2 %) Loss on partial extinguishment of debt — 174 (100 %) Other non-operating income (8,465) (113) 7,391 % Loss before income taxes and income from equity method investees (22,009) (1,267,613) (98 %) Income tax benefit (857) (22,902) (96 %) Income from equity method investees (4,479) (3,574) 25 % Net loss attributable to Class A and B-1 common stockholders $ (16,673) $ (1,241,137) (99 %) Net loss per Class A and B-1 common share: Basic $ (0.06) $ (4.63) (99 %) Diluted $ (0.06) $ (4.63) (99 %) Weighted average shares used in computing net loss per Class A and B-1 common share: Basic 274,495 267,852 2 % Diluted 274,495 267,852 2 % PETCO HEALTH AND WELLNESS COMPANY, INC. CONSOLIDATED BALANCE SHEETS (In thousands, except per share amounts) (Unaudited and subject to reclassification) November 2, 2024 February 3, 2024 ASSETS Current assets: Cash and cash equivalents $ 116,675 $ 125,428 Receivables, less allowance for credit losses 1 40,432 44,369 Merchandise inventories, net 690,291 684,502 Prepaid expenses 46,720 58,615 Other current assets 37,665 38,830 Total current assets 931,783 951,744 Fixed assets 2,233,558 2,173,015 Less accumulated depreciation (1,493,752) (1,356,648) Fixed assets, net 739,806 816,367 Operating lease right-of-use assets 1,328,398 1,384,050 Goodwill 980,064 980,297 Trade name 1,025,000 1,025,000 Other long-term assets 206,429 205,694 Total assets $ 5,211,480 $ 5,363,152 LIABILITIES AND EQUITY Current liabilities: Accounts payable and book overdrafts $ 447,673 $ 485,131 Accrued salaries and employee benefits 129,486 101,265 Accrued expenses and other liabilities 190,789 200,278 Current portion of operating lease liabilities 340,437 310,507 Current portion of long-term debt and other lease liabilities 5,294 15,962 Total current liabilities 1,113,679 1,113,143 Senior secured credit facilities, net, excluding current portion 1,576,856 1,576,223 Operating lease liabilities, excluding current portion 1,064,322 1,116,615 Deferred taxes, net 210,708 251,629 Other long-term liabilities 123,077 121,113 Total liabilities 4,088,642 4,178,723 Commitments and contingencies Stockholders' equity: Class A common stock 2 237 231 Class B-1 common stock 3 38 38 Class B-2 common stock 4 — — Preferred stock 5 — — Additional paid-in-capital 2,271,052 2,229,582 Accumulated deficit (1,135,221) (1,047,243) Accumulated other comprehensive (loss) income (13,268) 1,821 Total stockholders' equity 1,122,838 1,184,429 Total liabilities and stockholders' equity $ 5,211,480 $ 5,363,152 (1) Allowances for credit losses are $1,623 and $1,806, respectively (2) Class A common stock, $0.001 par value: Authorized - 1.0 billion shares; Issued and outstanding - 237.2 million and 231.2 million shares, respectively (3) Class B-1 common stock, $0.001 par value: Authorized - 75.0 million shares; Issued and outstanding - 37.8 million shares (4) Class B-2 common stock, $0.000001 par value: Authorized - 75.0 million shares; Issued and outstanding - 37.8 million shares (5) Preferred stock, $0.001 par value: Authorized - 25.0 million shares; Issued and outstanding - none PETCO HEALTH AND WELLNESS COMPANY, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands) (Unaudited and subject to reclassification) 39 Weeks Ended November 2, 2024 October 28, 2023 Cash flows from operating activities: Net loss $ (87,979) $ (1,257,635) Adjustments to reconcile net loss to net cash provided by operating activities: Depreciation and amortization 149,414 148,593 Amortization of debt discounts and issuance costs 3,661 3,658 Provision for deferred taxes (35,629) (35,164) Equity-based compensation 40,705 64,431 Impairments, write-offs and losses on sale of fixed and other assets 8,449 2,202 Loss on partial extinguishment of debt — 920 Income from equity method investees (13,557) (10,032) Amounts reclassified out of accumulated other comprehensive (loss) income (3,035) 674 Goodwill impairment — 1,222,524 Non-cash operating lease costs 311,347

Empowered Funds LLC boosted its holdings in shares of Peoples Bancorp of North Carolina, Inc. ( NASDAQ:PEBK – Free Report ) by 5.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,278 shares of the bank’s stock after buying an additional 1,474 shares during the period. Empowered Funds LLC owned approximately 0.55% of Peoples Bancorp of North Carolina worth $769,000 as of its most recent filing with the Securities and Exchange Commission. Other hedge funds have also recently bought and sold shares of the company. Rhumbline Advisers purchased a new position in Peoples Bancorp of North Carolina in the second quarter valued at about $169,000. Bank of New York Mellon Corp acquired a new stake in shares of Peoples Bancorp of North Carolina during the 2nd quarter valued at about $388,000. Renaissance Technologies LLC grew its stake in shares of Peoples Bancorp of North Carolina by 6.8% in the 2nd quarter. Renaissance Technologies LLC now owns 22,012 shares of the bank’s stock valued at $643,000 after buying an additional 1,400 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Peoples Bancorp of North Carolina by 0.5% in the second quarter. Dimensional Fund Advisors LP now owns 146,625 shares of the bank’s stock worth $4,281,000 after buying an additional 734 shares during the last quarter. 43.83% of the stock is owned by hedge funds and other institutional investors. Peoples Bancorp of North Carolina Trading Up 4.0 % Shares of NASDAQ:PEBK opened at $31.47 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $171.83 million, a PE ratio of 10.67 and a beta of 0.57. Peoples Bancorp of North Carolina, Inc. has a 1 year low of $23.74 and a 1 year high of $32.37. The firm has a fifty day moving average price of $26.64 and a 200 day moving average price of $28.48. Insider Buying and Selling In other news, Director James S. Abernethy sold 1,000 shares of Peoples Bancorp of North Carolina stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $28.64, for a total value of $28,640.00. Following the completion of the transaction, the director now owns 74,976 shares in the company, valued at approximately $2,147,312.64. The trade was a 1.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link . Insiders sold 6,500 shares of company stock valued at $184,205 over the last quarter. Corporate insiders own 16.94% of the company’s stock. Peoples Bancorp of North Carolina Profile ( Free Report ) Peoples Bancorp of North Carolina, Inc operates as the bank holding company for Peoples Bank that provides various banking products and services for individuals and small-to medium-sized businesses. It offers checking, savings, money market, and retirement accounts; certificates of deposits; and credit and debit cards. Recommended Stories Want to see what other hedge funds are holding PEBK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Peoples Bancorp of North Carolina, Inc. ( NASDAQ:PEBK – Free Report ). Receive News & Ratings for Peoples Bancorp of North Carolina Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Peoples Bancorp of North Carolina and related companies with MarketBeat.com's FREE daily email newsletter .Seibert misses an extra point late as the Commanders lose their 3rd in a row, 34-26 to the Cowboys‘Wicked’ and ‘Gladiator II’ Open to $168 Million in Cinemas

The Football Night in America crew discuss the Philadelphia Eagles securing the No. 2 seed in the NFC after crushing the Dallas Cowboys, and running back Saquon Barkley on the cusp of breaking the NFL rushing record. Steve Kornacki examines the NFC No. 1 seed probabilities, and explains how the loser of the Detroit Lions vs. Minnesota Vikings Week 18 matchup will drop to the No. 5 seed. Mike Florio provides insight on the status of Kenny Pickett and what options the Eagles have at QB entering Week 18. Mike Florio provides insight on Baker Mayfield's TD catch that got thrown into the stands, which was aimed at getting the ball back for Payne Durham, as well as why the Bucs are all rooting for the Commanders. Steve Kornacki hits the big board to discuss what the Los Angeles Rams need to win the NFC West this season and if the Seattle Seahawks have any chance to clinch the division title. Steve Kornacki breaks down the AFC wild card chances for the Denver Broncos, Miami Dolphins and Cincinnati Bengals as all teams are vying for a spot. Maria Taylor FaceTimes Pro Football Hall of Famer Eric Dickerson to discuss why he doesn't want to see Philadelphia Eagles running back Saquon Barkley break his NFL rushing record. Philadelphia Eagles running back Saquon Barkley FaceTimes Maria Taylor to discuss closing in on Eric Dickerson's NFL rushing record, and what it would mean to break the record against his former team in Week 18. Washington Commanders quarterback Jayden Daniels catches up with Chris Simms to discuss racing competitions at LSU with Malik Nabers and Brian Thomas Jr., and the emphasis on his playing weight going into the NFL. Maria Taylor catches up with Michael Penix Jr. to share what he was doing when he was named the Atlanta Falcons starting quarterback, how he battled back from multiple injuries and his friendship with Jayden Daniels. Chris Simms goes one-on-one with Washington Commanders quarterback Jayden Daniels to discuss the poise he's shown in his rookie year, being smart about running, and why his effortless throwing mechanics are repeatable. Tony Dungy explains to Jac Collinsworth why the difficult scheduling for teams in the final stretch of the season raises player safety concerns, including the Chiefs playing three games in 11 days. Tony Dungy and Jac Collinsworth check in on the NFC South with the Buccaneers falling into a first-place tie with the Falcons and the pivotal three points given up before the half that proved costly against the Cowboys.

Not for distribution to United States newswire services or for dissemination in the United States Highlights: LNG Energy Group announces initiatives to increase production at Colombian operations, optimize costs and enhance its liquidity position. LNG Energy Group proposes senior secured convertible debenture financing of up to U.S.$15 million in order to accelerate drilling in Colombia. Before-tax NPV10 for Proved (1P) reserves of U.S.$171 million representing NPV10 of C$1.55 per share in respect of the Colombian assets as at December 31, 2023. 1 Before-tax NPV10 for Proved (1P) reserves of U.S.$261 million representing NPV10 of C$2.37 per share in respect of assets related to CPPs in Venezuela as at April 30, 2024. 2 Existing assets include three drilling rigs and other non-core assets appraised at approximately U.S.$11 million . TORONTO, Dec. 04, 2024 (GLOBE NEWSWIRE) -- LNG Energy Group Corp. (TSXV: LNGE) (TSXV: LNGE.WT) (OTCQB: LNGNF) (FWB: E26) (the “ Company ” or “ LNG Energy Group ”) is pleased to announce a private placement of senior secured convertible debentures in the amount of up to U.S.$15 million (“ Private Placement ”) in order to drill two development wells, two to three exploration wells and conduct an active workover and stimulation campaign in Colombia. The Private Placement is undertaken in the context of a broader strategic review process the Company is conducting with the authorization of its Board of Directors, to explore and evaluate a range of potential alternatives for the Company to maximize shareholder value, with the assistance of ECM Capital Advisors, Eight Capital and Haywood Securities Inc. The potential initiatives may include, but are not limited to financings, corporate reorganization, strategic partnerships, acquisitions, divestitures and/or farm-outs, sale, and other forms of business combination. Pablo Navarro, Chairman and Chief Executive Officer of LNG Energy Group commented, “It has been a challenging year. Many issues have arisen with which we are dealing. Changes are being made and solutions are being implemented. Bottom line, the asset base is exceptional, and the future is bright. The turnaround is working, and we will work relentlessly to catapult the trajectory of the Company through a series of strategic initiatives that should ultimately contribute to meeting Colombia’s need for natural gas.” Strategic Initiatives Drilling Campaign Upon a successful Private Placement, farm-out and/or JV Contribution (as defined herein), the Company will commence a drilling and recompletion campaign in Colombia. Chemical Stimulations The Company completed successfully the workover of the BN-1 well consisting of a chemical stimulation that increased the well’s production by approximately 3x, offsetting losses caused by the presence of asphaltenes, fines and residues from drilling fluids. Prior to the stimulation, the well was producing at an average production of approximately 112 Mcf/d with a WHP of 72 psi on a 36/64” choke. Initial results of the stimulation showed an immediate production increase to 822 Mcf/d with a WHP of 328 psi on a 26/64” choke. The well is currently producing 350 Mcf/d with 114 psi in WHP and on a 22/64” choke. The Company intends to apply this technology to several other wells that also experienced a production decline due to the same root causes. Costs Optimization In order to reduce costs, the Company has implemented a corporate reorganization initiative which is expected to result in savings of approximately $1.5 to $2.0 million per annum. The Company continues to review ways to optimize its business and operations, including strategic partnerships with vendors, and rationalization of suppliers, inventory optimization, and adjusting the organizational structure of the Company to the current production context. Capital Strengthening The Company is in the process of farming out a part of its participating interest in the VIM-41 Block located onshore Colombia and pursuing a well development financing (the “ JV Contribution ”) to raise capital to initiate the drilling of the B5 well located onshore Colombia. Furthermore, the Company intends to review options to optimize cash flow available for drilling vis a vis its financial obligations. Secured Convertible Debenture Financing In conjunction with its near-term development plans, the Company is pleased to announce that it has entered into an agreement with Eight Capital, as lead agent and bookrunner, on behalf of a syndicate of agents including Eight Capital, Haywood Securities Inc. and ECM Capital Advisors, (together, the “ Agents ”) pursuant to which the Company has launched a proposed Private Placement on a “best efforts” agency basis in the aggregate principal amount of up to U.S.$15 million (the “ Offering ”) senior secured convertible debentures (the “ Convertible Debentures ”) to eligible investors. The terms and any applicable conditions precedent for the Convertible Debentures will be defined within the context of the market and should present a competitive opportunity for investors while unlocking shareholder value. Upon closing of the Offering, the Company will pay to the Agents a cash commission equal to 6% of the gross proceeds of the Offering. The Company is entitled to a President’s List in the amount of up to U.S.$2 million pursuant to which no fees shall be paid to the Agents. The net proceeds of the Offering will be primarily used for the Company’s next phase of drilling, workover and stimulation activities as well as for general working capital purposes. The Company expects that insiders and current stakeholders will participate in the Offering and, to date, has received interest from potential investors in the Offering. The insiders' participation in the Offering constitutes a “related party transaction” as defined under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“ MI 61-101 ”). Such participation is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the securities anticipated to be acquired by insiders, nor the consideration for the securities paid by such insiders, exceed 25% of the Company’s market capitalization. As the specific participation of each related party that the Company expects will participate in the Offering has not been confirmed as of the date of this news release, additional information required under MI 61-101 will be provided in the Company’s material change report with respect to the Offering, including a description of the interest of all related parties in the Offering, and where applicable, a description of the effect on the percentage of the securities of the Company held by related parties participating. The securities being offered have not, nor will they be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons in the absence of U.S. registration or an applicable exemption from the U.S. registration requirements. This mews release does not constitute an offer for sale of securities in the United States. The Offering is scheduled to close at a date the Company and the Agents deem appropriate and is subject to certain conditions including, but not limited to, the execution of an agency agreement and the receipt of all necessary regulatory and other approvals including that of the TSX Venture Exchange. All securities (and underlying securities) issued in connection with the Offering will be subject to a hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation. Other Initiatives The Board of Directors, in consultation with its legal and business advisors, are actively considering other initiatives to enhance shareholder value. The Company may initiate a share consolidation or other capital reorganizations. Certain of the foregoing initiatives may require approval from the Company’s senior lenders. Existing Asset Base The Company’s current assets consist of the following: (1) Based upon a U.S.$ to C$ exchange rate of 1.00 : 1.41. (2) Calculated by dividing the Before-Tax NPV10 value of the Proved reserves as at December 31, 2023 by 155,534,426 common shares issued and outstanding as at December 31, 2023 and using a U.S.$:C$ exchange rate of $1.41. The per share valuation excludes the value of the Company’s non-oil and gas assets and net indebtedness. (3) Calculated by dividing the Before-Tax NPV10 value of the Proved reserves as at October 29, 2024 by 155,534,426 common shares issued and outstanding as at October 29, 2024 and using a U.S.$:C$ exchange rate of $1.41. Please see the Company’s news release dated November 25, 2024 for more information. The per share valuation excludes the value of the Company’s non-oil and gas assets and net indebtedness. Neither the TSXV nor its Regulation Services Provider accept responsibility for the adequacy or accuracy of this news release. About LNG Energy Group The Company is focused on the acquisition and development of natural gas production and exploration assets in Latin America. For more information, please visit www.lngenergygroup.com . For more information please contact: Angel Roa, Chief Financial Officer LNG Energy Group Corp. Website: www.lngenergygroup.com Email: investor.relations@lngenergygroup.com Find us on social media: LinkedIn: https://www.linkedin.com/company/lng-energy-group-inc/ Instagram: @lngenergygroup X: @LNGEnergyCorp CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities laws. All statements other than statements of historical fact are forward-looking statements, and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance, often using phrases such as “expects”, “anticipates”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends”, or variations of such words and phrases, or stating that certain actions, events or results “may” or “could”, “would”, “should”, “might” or “will” be taken to occur or be achieved, are not statements of historical fact and may be forward-looking statements. Specifically, this news release includes, but is not limited to, forward-looking statements relating to: the Company’s business plans, strategies, priorities and development plans, including the strategic initiatives being considered by the Company and the corporate reorganization and anticipated annual savings therefrom; the application of the stimulation technology used for the BN-1 well workover on other wells of the Company; the anticipated benefits of the completion of various strategic initiatives being considered by the Company; the completion of the JV Contribution and completion of other options to optimize cash flow; the ability of the Company to book additional reserves in the future; the completion of the Offering; receipt of all regulatory approvals, including the approval of the TSXV, in connection with the Offering; the anticipated insider participation in the Offering; and the anticipated use of proceeds from the Offering. The Company’s actual decisions, activities, results, performance, or achievement could differ materially from those expressed in, or implied by, such forward-looking statements and accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur or, if any of them do, what benefits that the Company will derive from them. Information and statements relating to reserves are by their nature forward-looking statements as they involve the implied assessment, based on certain estimates and assumptions, that the reserves described exist in the quantities predicted or estimated, and can be profitably produced in the future. The recovery and reserve estimates of the Company’s reserves provided herein are estimates only, and there is no guarantee that the estimated reserves will be recovered. Consequently, actual results may differ materially from those anticipated in the forward-looking statements (see the other advisories contained in this news release). Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include: the Company's ability to complete the Offering on the terms described herein or at all or to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; and the delay or failure to receive regulatory or other approvals, including any approvals of the TSXV and the Company’s senior lenders, for the Offering; general business, economic, competitive, political and social uncertainties; risks related to the Company’s ability to complete any of the proposed strategic initiatives described in this news release on the terms described herein or at all; risks related to commodity prices; delay or failure to receive any necessary board, shareholder or regulatory approvals, factors may occur which impede or prevent LNG Energy Group’s future business plans; and other factors beyond the control of LNG Energy Group. The intended use of the proceeds of the Offering by the Company might change if the Board of Directors of the Company determines that it would be in the best interests of LNG Energy Group. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements contained in this news release. Except as required by law, LNG Energy Group assumes no obligation to update the forward-looking statements, whether they change as a result of new information, future events or otherwise. CPPs Please see the Company’s news releases dated April 24, 2024 and October 21, 2024 for additional information with respect to the CPPs. There can be no guarantee that the Company or LNG Venezuela shall be able to complete the acquisition terms required by PPSA. The CPPs were executed within the term of General License 44 issued by OFAC. The Company intends to operate in full compliance with the applicable U.S. economic sanctions laws. Advisory Note Regarding Oil and Gas Information The reserves information contained in this news release has been prepared in accordance with NI 51-101, but only presents a portion of the disclosure required thereunder. Complete reserves disclosure required in accordance with NI 51-101 in respect of the Company’s Colombian assets for the year ended December 31, 2023 is available in the AIF. Complete reserves disclosure required in accordance with NI 51-101 in respect of the Company’s Venezuelan assets will be available on SEDAR+ at www.sedarplus.ca concurrently with or before the filing of the Company’s financial statements for the year ended December 31, 2024. Actual oil and natural gas reserves and future production may be greater than or less than the estimates provided in this news release. There is no assurance that forecast prices and costs assumed in the reserves reports referred to in this news release and presented in this news release, will be attained and variances from such forecast prices and costs could be material. The estimated future net revenue from the production of the disclosed oil and natural gas reserves in this news release does not represent the fair market value of these reserves. The estimates of reserves and future net revenue for individual properties may not reflect the same confidence level as estimates of reserves and future net revenue for all properties, due to the effects of aggregation. There are numerous uncertainties inherent in estimating quantities of crude oil, reserves and the future cash flows attributed to such reserves. The reserve and associated cash flow information set forth above are estimates only. In general, estimates of economically recoverable crude oil and natural gas reserves and the future net cash flows therefrom are based upon a number of variable factors and assumptions, such as historical production from the properties, production rates, ultimate reserve recovery, timing and amount of capital expenditures, marketability of oil and natural gas, royalty rates, the assumed effects of regulation by governmental agencies and future operating costs, all of which may vary materially. For those reasons, estimates of the economically recoverable crude oil and natural gas reserves attributable to any particular group of properties, classification of such reserves based on risk of recovery and estimates of future net revenues associated with reserves prepared by different engineers, or by the same engineers at different times, may vary. The Company’s actual production, revenues, taxes and development and operating expenditures with respect to its reserves will vary from estimates thereof and such variations could be material. All evaluations and reviews of future net revenue are stated prior to any provisions for interest costs or general and administrative costs and after the deduction of estimated future capital expenditures for wells to which reserves have been assigned. The tax calculations used in the preparation of the reserves reports referred to in this news release are done at the field level in accordance with standard practice, and do not reflect the actual tax position at the corporate level which may be significantly different. “ Proved ” reserves are those reserves that can be estimated with a high degree of certainty to be recoverable. It is likely that the actual remaining quantities recovered will exceed the estimated proved reserves. There is a 90 percent probability that the quantities actually recovered will equal or exceed the sum of proved reserves. Light crude oil is crude oil with a relative density greater than 31.1 degrees API gravity, medium crude oil is crude oil with a relative density greater than 22.3 degrees API gravity and less than or equal to 31.1 degrees API gravity, and heavy crude oil is crude oil with a relative density greater than 10 degrees API gravity and less than or equal to 22.3 degrees API gravity. 1 Reserves included herein are stated on a company gross basis (working interest before deduction of royalties without including any royalty interests). Information presented herein in respect of reserves and related information in respect of the Company’s Colombian assets is based on the Company’s independent reserves evaluation for the year ended December 31, 2023 prepared by DeGolyer and MacNaughton, details of which were provided in the Company’s annual information form dated May 31, 2024 for the year ended December 31, 2023 (the “ AIF ”). 2 Reserves included herein are stated on a company gross basis (working interest before deduction of royalties without including any royalty interests). Information presented herein in respect of reserves and related information in respect of the Company’s Venezuela assets is based on the Company’s independent reserves evaluation dated October 28, 2024, with an effective date of April 30, 2024 prepared by Petrotech Engineering Ltd., details of which were provided in our press release issued on November 25, 2024.Tyler Huntley stars at QB and four more takeaways from the Dolphins’ win vs. the BrownsAnthony Albanese's nemesis breaks down on live TV - as Greens suffer a major blow Greens MP breaks down over housing Says he has friends evicted over rent READ MORE: Anthony Albanese's nemesis issues fresh ultimatum By DAVID SOUTHWELL FOR DAILY MAIL AUSTRALIA Published: 23:23, 25 November 2024 | Updated: 23:28, 25 November 2024 e-mail View comments Greens MP Max Chandler-Mather became emotional as he spoke about how the housing crisis is impacting his generation after being accused of 'letting down young voters' by capitulating to Labor. Mr Chandler-Mather, 32, was questioned by interviewer Sarah Ferguson on Monday night's episode of ABC's 7.30 Report about whether the Greens, by agreeing to pass two Labor housing bills, had failed the party's base of younger voters. 'Everyday we don't solve the housing crisis I feel like I have let them down a little bit,' an emotional Mr Chandler-Mather said. 'My generation for the first time are probably going to be worse off than our parents. I feel that acutely.' Mr Chandler-Mather's voice wavered as revealed he had 'friends who have been kicked out of their homes because they can't afford the rent or have given up on ever being able to buy a home'. 'And it hurts me a lot, actually, to see that. I find it really hard,' he said. The Greens delayed the Albanese government’s Help to Buy and Build-to-Rent bills for months, pushing for changes to property investor tax concessions and rent rise caps. However, they ultimately supported the bills despite these demands not being met. Greens MP Max Chandler-Mather grew emotional talking about his generation's housing prospects. Ferguson pressed Mr Chandler-Mather, who is the Greens spokesperson on housing, whether the minor party had dropped the demands because they feared electoral backlash for not supporting the Bills. Mr Chandler-Mather, who has been a consistent thorn in Mr Albanese's side, denied this. 'There comes a point when you realise you have pushed as hard as you can,' he said. 'What we have decided is to pass these two Bills and take this fight to the next election.' Although the Greens secured no concessions, Mr Chandler-Mahler said they pressured Labor into questioning negative gearing, the tax break housing investors get for rental properties that many argue dries up homes for first-time buyers. 'We also got close on negative gearing they costed that policy and that would have been the most positive genuine shift of housing policy in generations in Australia,' he said. Mr Chandler-Mather has proven a thorn in the side of the Prime Minister Anthony Albanese Read More Anthony Albanese was riding high - then a single taunt about his $115,000 investment property portfolio got under his skin... Housing Minister Clare O'Neil said the two Bills 'have now got a really clear passage through the parliament'. 'I'm glad (the Greens) have finally seen the light,' she said on Monday. 'But it doesn't excuse the fact that they have played politics on housing for two-and-a-half years, and the net effect of the Greens in this term of parliament is to delay action on housing.' The proposed Help to Buy scheme would see the government to contribute 30 per cent of the purchase price of a home or 40 per cent for a new build for those earning under $90,000 for a single applicant or $120,000 for a couple. The government share reduces the cost for the homebuyer, although it must be paid back upon sale. Under the Build to Rent bill tax concessions would encourage the constructing properties for rent. Last year the Greens were able to secure an extra $3 billion of investment for social housing in negotiations for the Housing Australia Future Fund. Anthony Albanese Sarah Ferguson, Duchess of York Share or comment on this article: Anthony Albanese's nemesis breaks down on live TV - as Greens suffer a major blow e-mail Add commentOppenheimer & Co. Inc. bought a new position in shares of Global X Russell 2000 Covered Call ETF ( NYSEARCA:RYLD – Free Report ) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 10,267 shares of the company’s stock, valued at approximately $166,000. A number of other institutional investors have also made changes to their positions in the business. Nations Financial Group Inc. IA ADV increased its holdings in shares of Global X Russell 2000 Covered Call ETF by 2.9% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 29,736 shares of the company’s stock worth $481,000 after acquiring an additional 845 shares during the last quarter. Mesirow Financial Investment Management Inc. increased its holdings in shares of Global X Russell 2000 Covered Call ETF by 3.5% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 191,881 shares of the company’s stock worth $3,101,000 after acquiring an additional 6,566 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of Global X Russell 2000 Covered Call ETF by 17.2% during the 3rd quarter. Janney Montgomery Scott LLC now owns 289,606 shares of the company’s stock worth $4,680,000 after acquiring an additional 42,442 shares during the last quarter. Chicago Partners Investment Group LLC increased its holdings in shares of Global X Russell 2000 Covered Call ETF by 11.1% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 37,852 shares of the company’s stock worth $608,000 after acquiring an additional 3,777 shares during the last quarter. Finally, Patriot Financial Group Insurance Agency LLC increased its holdings in shares of Global X Russell 2000 Covered Call ETF by 8.9% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 17,830 shares of the company’s stock worth $288,000 after acquiring an additional 1,462 shares during the last quarter. Global X Russell 2000 Covered Call ETF Trading Up 0.7 % RYLD stock opened at $16.64 on Friday. The firm has a market capitalization of $1.41 billion, a PE ratio of 10.21 and a beta of 0.62. Global X Russell 2000 Covered Call ETF has a 1-year low of $14.75 and a 1-year high of $16.98. The business’s 50 day simple moving average is $16.31 and its 200 day simple moving average is $16.16. Global X Russell 2000 Covered Call ETF Company Profile Featured Stories Want to see what other hedge funds are holding RYLD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Global X Russell 2000 Covered Call ETF ( NYSEARCA:RYLD – Free Report ). Receive News & Ratings for Global X Russell 2000 Covered Call ETF Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Global X Russell 2000 Covered Call ETF and related companies with MarketBeat.com's FREE daily email newsletter .

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Heading into the all-important holiday months, budget-conscious Target customers shopped more but didn’t necessarily spend more. As a result, the retailer missed its sales and earnings expectations for the quarter that ended in October; profits declined 12 percent year over year to $854 million. Investors punished Target this week, tanking the company’s stock price. It was down 20 percent as of Wednesday. “We’re not pleased (with) where we are today, but we see a lot of green shoots and a lot of long-term opportunities to continue to advance our business,” CEO Brian Cornell told analysts Wednesday morning. Target has been slashing prices this year to claw back customers increasingly opting for Walmart or Amazon. “That’s driving traffic to our stores,” Cornell said during a call with media. “We feel really good about the reaction we’re currently getting.” The Minneapolis-based retailer saw a 2.4 percent bump in store traffic for the quarter that amounted to an extra 10 million transactions over the same quarter last year. But revenue has not seen a corresponding lift. Same-store sales were up just 0.3 percent over last quarter, missing analyst estimates. “We’re still seeing consumers shop very cautiously, and we’re planning accordingly,” Cornell said. Even with all those extra store visits — and a 10.8 percent increase in digital sales — discretionary spending on apparel, home goods and “hardline” items like appliances remained weak. Meanwhile, October’s Target Circle week was the best yet, with a notable sales bump and 3 million new members in the loyalty program. A Blake Lively team-up also represented “our biggest hair care launch on record,” said Rick Gomez, chief commercial officer at Target. Those bright spots, and strong beauty sales, partly offset what executives consider a short-term economic headwind. Alarm bells aren’t ringing on Nicollet Mall just yet. “We know over time those trends will reverse,” Cornell told analysts. “We’ll continue on our current strategy, stay in step with the consumer and make sure Target’s doing the things that consumers across America expect from us.” Yet Walmart, which reported strong results Tuesday, is attracting more high-income shoppers — normally Target’s bread and butter — contributing to a sizable increase in same-store sales year over year for the quarter. “There is a sense that Walmart is on the front foot at a time when Target is struggling to remain as relevant as it once was,” said Neil Saunders, managing director of GlobalData. Edward Jones analyst Brian Yarbrough said Target is far more reliant on discretionary spending, which was also tepid at Walmart. “There’s definitely some economic headwinds. But when you look across the space, Walmart, Amazon and Costco are winning and the rest are, I don’t want to say a disaster, but underperforming,” Yarbrough said. “Target is losing market share.” Along with the revenue stagnation and profit decline, Target lowered its financial outlook for the rest of the year. One issue weighing on the bottom line: Target stocked up ahead of the short-lived East Coast port strikes, an expensive proposition. “Our team took decisive action to ... ensure we had inventory for the biggest season of the year,” Cornell said. “We don’t regret those actions.” Revenue reached $25.2 billion. The company now expects full-year earnings per share in the range of $8.30 to $8.90 after upping its forecast last quarter to $9 to $9.70. “It’s disappointing that a deceleration in discretionary demand, combined with some cost pressures, have caused us to take our guidance back down,” said Chief Operating Officer Michael Fiddelke. Though Target expects a robust holiday shopping season, officials expect sales for the fourth quarter, which ends in January, will be flat compared with last year. “We’re guiding with some conservatism, hopefully there will be some upside as we get into the season,” Cornell said. “Some of the biggest days are still in front of us, obviously some big weeks ahead, and we’ll watch that carefully.”As the rising star of cell therapy biotechs, Iovance Biotherapeutics (NASDAQ: IOVA) is a hot stock that's capturing a lot of attention, and for good reason. Iovance's one-of-a-kind medicine is already selling like hotcakes, and there's reason to believe that plenty more growth is on the way. Let's take a look at why this stock is worth purchasing today and never looking back. Start Your Mornings Smarter! Wake up with Breakfast news in your inbox every market day. Sign Up For Free » Today, Iovance has a trio of bullish drivers are the legs of the stock's investment thesis. A rapidly growing market First, Iovance's first cell therapy to be approved for sale, Amtagvi, is quickly finding its home in the market. This year, management estimates that sales of the therapy will bring in at least $160 million in revenue, with 2025's sum totaling at least $450 million. So investors who buy the stock soon will be, in theory, exposed to a tripling of the top line in the near term, which is bullish. In practice, the biotech is taking the actions needed to deliver on that ambitious goal for next year. Amtagvi is intended to treat patients who have advanced melanoma and who have already been treated with a common immunotherapy drug called pembrolizumab. Per management, its total addressable market is thus roughly between 20,000 and 30,000 patients annually. Serving those patients will require expanding the company's network of authorized treatment centers (ATCs). It's targeting a total of 70 ATCs in the U.S. before the end of the year, and progress is on track. Expanding manufacturing capability Another major initiative is expanding the company's manufacturing capacity for Amtagvi. Its current plans call for the expansion of one of its current facilities so it can generate doses for around 5,000 patients annually within the next few years, but it's also building up a network of contract manufacturers such that it can eventually treat an additional 15,000 patients per year. If those efforts are successful, it'll support Iovance's margins by controlling its cost of goods sold (COGS) . It might also be feasible for it to license out its facilities to produce cell therapies for other biopharma businesses, if it demonstrates exceptional competency in cell manufacturing. So the odds that Iovance will make good on its revenue estimates are decidedly favorable, and there's a clear runway for organic growth to continue after meeting them. A possible expansion of indications Finally, with a bit more research and development (R&D) work in the form of clinical trials testing Amtagvi in different oncology contexts, and in combination with pembrolizumab instead of only after a course of treatment, management thinks that it could one day treat as many as 70,000 patients with advanced melanoma globally. That'd expand its total addressable market by more than double, and likely require more manufacturing investments. Still, this is another bullish catalyst that is hard to ignore. The most important clinical trial is a study that's in phase 3 right now, investigating whether Amtagvi can be administered alongside pembrolizumab as a first line treatment. Being a first line treatment would lead to faster adoption of the therapy, rewarding shareholders in the process. The long haul could be even better Next year, Iovance will sync with regulators in Australia and Switzerland to see if they're willing to approve Amtagvi. It should also hear back from regulators in Canada, the U.K., and the E.U. in the same period, making for three potential catalysts and more revenue down the line. While it's true that there will be some lingering long-term execution risks relating to its cell manufacturing platform, the unique nature of its therapy means that it will likely retain the ability to draw on additional capital by taking out loans or issuing more shares of its stock. It'll probably need to do that before it becomes profitable at some point in the next few years. Nonetheless, as more and more patients globally gain access to Amtagvi, this company will have a lot of room to continue growing. Given Iovance's strong start to the therapy's commercialization, it's worth buying this stock. Don’t miss this second chance at a potentially lucrative opportunity Ever feel like you missed the boat in buying the most successful stocks? Then you’ll want to hear this. On rare occasions, our expert team of analysts issues a “Double Down” stock recommendation for companies that they think are about to pop. If you’re worried you’ve already missed your chance to invest, now is the best time to buy before it’s too late. And the numbers speak for themselves: Nvidia: if you invested $1,000 when we doubled down in 2009, you’d have $368,053 !* Apple: if you invested $1,000 when we doubled down in 2008, you’d have $43,533 !* Netflix: if you invested $1,000 when we doubled down in 2004, you’d have $484,170 !* Right now, we’re issuing “Double Down” alerts for three incredible companies, and there may not be another chance like this anytime soon. See 3 “Double Down” stocks » *Stock Advisor returns as of November 18, 2024 Alex Carchidi has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Iovance Biotherapeutics. The Motley Fool has a disclosure policy . Got $1,500? Buy Iovance Biotherapeutics Now and Don't Look Back was originally published by The Motley Fool

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