AleAnna, Inc. Reports Third Quarter 2026 Results (Form 8-K)

AleAnna, Inc. Reports Third Quarter 2026 Results

AleAnna, Inc. Reports Substantial Quarter-Over-Quarter Growth in Revenue, Net Income, and Adjusted EBITDA1

DALLAS - November 12, 2026 - AleAnna, Inc. ("AleAnna" or "the Company") (NASDAQ: ANNA) today is pleased to announce strong financial and operational results for the third quarter of 2026.

Highlights:

•Net income increased substantially to $6.2 million and revenue more than doubled to $20.5 million compared to the second quarter of 2026, driven by robust growth in gas production and significantly stronger realized prices.

•Operating income increased nearly fivefold to $9.4 million and Adjusted EBITDA¹ nearly tripled to $12.2 million, compared to the second quarter of 2026.

•Average daily net sales gas production in the third quarter increased to approximately 274 kSmc/d (AleAnna Working Interest) compared to the second quarter of 2026 supported by well optimization.

•Development continued on Longanesi's permanent facilities and construction progressed at Gradizza, reinforcing the growth potential of AleAnna's Italian gas portfolio.

•Glen Cayley joined the Board of Directors of AleAnna. Glen is a seasoned upstream energy executive with extensive experience in exploration, field development and production operations, and is ideally placed to assist AleAnna with its ambitious growth program.

Management Commentary

Marco Brun, Chief Executive Officer, remarked on AleAnna's recent accomplishments: "AleAnna delivered excellent results for the third quarter of 2026, with substantially higher net income, revenue more than doubling and Adjusted EBITDA nearly tripling compared with the second quarter of 2026. Robust growth in production and stronger gas prices translated into a marked improvement in earnings, demonstrating the growing contribution of the Company's Italian gas business. These achievements reflect both the strength of the producing asset and the benefits of targeted well optimization.

Building on this strong performance, AleAnna is advancing the development of its projects to support the next phase of growth. The Company's ambition is clear: expand production, realize the potential of its Italian gas portfolio and create long-term shareholder value through disciplined investment and focused execution."

1 This is a non-GAAP financial measure. Refer to Non-GAAP Performance Measures and Definitions for further details.

Financial Results Summary

			Q3 2026			Q3 2025			Q2 2026						9M 2026			9M 2025						LTM			Quarterly average LTM
Average daily working interest production (kSmc/d)			273.9			276.0			189.9						227.8			230.4						226.8			226.8
Working interest production (MMSmc)			25.2			25.4			17.3						60.6			33.2						82.8			20.7
Realized weighted average gas price ($/Smc)			0.79			0.42			0.55						0.63			0.42						0.56			0.56
Revenue ($m)			20.5			11.2			10.2						40.1			15.9						49.2			12.3
Revenue conventional ($m)			19.9			10.6			9.5						38.2			13.9						46.7			11.7
Net income ($m)			6.2			5.3			3.8						13.4			2.6						13.7			3.4
Operating income ($m)			9.4			5.7			1.9						15.0			2.7						15.2			3.8
Adjusted EBITDA¹ ($m)			12.2			6.3			4.1						20.6			3.6						23.6			5.9
Net income margin			30		%	47		%	37		%				33		%	17		%				28		%	28		%
Adjusted EBITDA margin¹			59		%	56		%	41		%				51		%	22		%				48		%	48		%

"Smc" means standard cubic meter; "kSmc/d" means thousands of standard cubic meters per day; and "MMSmc" means millions of standard cubic meters.

Robust production growth and stronger prices drive substantial earnings improvement

•Robust growth in Longanesi sales gas production and stronger realized prices drove substantial revenue growth. Production from ten strings throughout the quarter and targeted well optimization supported the increase in average daily output compared to the second quarter of 2026.

•Revenue growth outpaced increases in royalties and operating costs, resulting in higher operating income and Adjusted EBITDA¹.

•The quarter reflected the earnings benefit of higher production in a stronger gas price environment.

•Net income margin represented 30.3% of revenue, while Adjusted EBITDA margin¹ was 59.4%, compared with 40.6% in the second quarter of 2026.

Earnings substantially exceed the average of the last four quarters

•For the twelve months ended September 30, 2026, AleAnna reported revenue of $49.2 million and net income of $13.7 million.

•In the third quarter of 2026, net income of $6.2 million exceeded the average of $3.4 million for the last four quarters. The average includes the third quarter of 2026.

Longanesi supports growth and advances permanent infrastructure

•Longanesi is the principal contributor to AleAnna's robust quarterly growth with average gross production reaching more than 800 kSmc/d, and strong plant uptime.

•Development of permanent production facilities continued with the joint venture partner and operator, with the permanent infrastructure expected to further enhance operations and support the concession's long-term development.

Gradizza advances the operated production portfolio

•Gradizza advanced during the quarter, with construction and baseline environmental monitoring progressing toward AleAnna's first wholly owned and operated producing asset.

•The project represents a strategic opportunity and is expected to expand the Company's Italian production base.

Advancing a promising portfolio of development opportunities

•Beyond Longanesi and Gradizza, AleAnna actively advanced preparations across its wider Italian project portfolio for future development.

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•In October 2026, environmental compliance work at Fornace was completed and preparatory activities included rig identification and tender documentation for civil works and drilling, with further authorization still required.

•Environmental compliance work and other permit applications progressed for several permits, supporting the identification and preparation of future investment opportunities.

About AleAnna

AleAnna is a technology-driven energy company, focused on growing gas production in Italy and helping drive Italy's energy future. Further details can be found on our website at www.aleannainc.com/AboutAleAnna.