Paris (France), February 26, 2026 2025 annual resultsStrong performance driving significant cash generation and deleveraging Segment revenue of $1,165m, up +4% year-on-yearGeoscience revenue up +10% to $444m, driven by all our three core basins as well as the Middle East, and Earth Data revenue up +6% to $406m, fueled by market appetite for high-end data and sector consolidationStrong improvement in profitability, supported by operating efficiency gains across all business lines. Segment adjusted EBITDAs of ...

Group 1 - Viridien will publish its full year 2025 financial results on February 26, 2026, after market close [1][4] - A conference call will be held on the same day at 6.00 pm (CET) to discuss the financial results [5] - Participants must register for the conference call to receive a dial-in number and PIN code, and a replay will be available for 12 months on the company's website [2] Group 2 - Viridien is an advanced technology, digital, and Earth data company focused on sustainable solutions for natural resource, digital, energy transition, and infrastructure challenges [3] - The company employs approximately 3,200 people globally and is listed as VIRI on the Euronext Paris SA [3]

Core Insights - The company achieved solid operational performance in 2025, driven by growth in Data, Digital & Energy Transition, while completing the restructuring of Sensing & Monitoring [2] - The company generated over $130 million in cash, which was allocated to debt repayment, enhancing its financial position as it enters 2026 [2] - The focus remains on delivering outstanding products and services with operational excellence to support sustainable cash generation and ongoing debt reduction [2] Financial Performance - Segment revenue is expected to exceed $1,150 million, with Geoscience revenue exceeding $440 million (a 10% year-on-year increase) and Earth Data revenue exceeding $400 million [6] - Solid cash flow generation above $130 million resulted in a Net Cash Flow for 2025 exceeding $100 million after repaying a $28 million asset-backed facility related to the Group's HPC infrastructure [6] - Bond repayments totaled $97 million, fully utilizing the 10% annual optional redemption clause included in the bond documentation [6] - Net debt (pre-IFRS 16) is expected to be around $750 million at year-end [6] Company Overview - Viridien is an advanced technology, digital, and Earth data company focused on resolving complex challenges in natural resources, digital, energy transition, and infrastructure [4] - The company employs approximately 3,200 people worldwide and is listed as VIRI on the Euronext Paris SA [4]

Core Insights - Viridien has launched a multi-client seismic reimaging program over Angola's offshore block 22 to support the upcoming licensing round, covering an area of 4,300 sq km [1] - The new data set aims to provide insights into underexplored structures along the Atlantic Hinge zone, similar to the proven Cameia and Golfinho fields, with fast-track results expected in Q1 2026 and final products in Q3/Q4 2026 [1][2] - The reimaging will utilize advanced proprietary technologies, enhancing the existing 2,900 sq km data from nearby block 20/11, resulting in over 7,200 sq km of broadband PSDM data for regional play evaluation in the Kwanza Basin [2][3] Company Overview - Viridien is a technology-driven company focused on Earth data, aiming to provide innovative solutions for natural resources and energy transition challenges [4] - The company employs approximately 3,200 people globally and is listed on Euronext Paris SA under the ticker VIRI [4]

Financial Performance - Total operating expenses for the three months ended September 30, 2025, were $15,809,125, compared to $2,301,172 for the same period in 2024 [157]. - The company has incurred losses and generated negative cash flows from operations since inception, with cash totaling $10.1 million as of September 30, 2025 [161]. - For the nine months ended September 30, 2025, net cash used in operations was $12.0 million, consisting of a net loss of $30.5 million [168]. - The company experienced a decrease in cash of $4.7 million for the nine months ended September 30, 2025, compared to a decrease of $1.3 million for the same period in 2024 [167]. Research and Development - Research and development expenses increased by $14.0 million and $18.3 million for the three and nine months ended September 30, 2025, respectively, compared to prior periods [158]. - The HALT-CINP-203 clinical trial is assessing Halneuron® in approximately 200 patients with moderate to severe neuropathic pain, with top-line data expected in the second half of 2026 [148]. - The company licensed the rights to the IV formulation of SP16 for the treatment of chemotherapy-induced peripheral neuropathy, with initial Phase 1 evaluation expected to start in the first half of 2026 [149]. - Halneuron® has been granted FDA fast-track review designation as a treatment for chemotherapy-induced neuropathic pain (CINP) [147]. Financing Activities - The company entered into a Loan Agreement for a total principal amount of $19.5 million, with $16.5 million disbursed on October 7, 2024 [150]. - A registered direct offering on March 12, 2025, resulted in gross proceeds of approximately $4.78 million from the sale of 578,950 shares at $8.26 per share [152]. - The company raised approximately $4.78 million through a registered direct offering of 578,950 shares of Common Stock on March 14, 2025 [163]. - Net cash provided by financing activities for the nine months ended September 30, 2025 was $7.3 million, attributed to loan proceeds and gross proceeds from the registered direct offering [170]. Equity and Debt Management - The company issued 191,017 shares of common stock and 89.5939 shares of Series A-2 Preferred Stock as part of a licensing agreement with Serpin Pharma [154]. - The company received $3 million in loan proceeds on February 18, 2025, with no debt outstanding as of September 30, 2025 due to a Debt Exchange and Cancellation Transaction [164]. - The company reclassified approximately $5.5 million from temporary equity to permanent equity due to waivers by holders of Series A Preferred Stock [174]. Going Concern - The company has substantial doubt regarding its ability to continue as a going concern within 12 months from the issuance of the Quarterly Report [166]. - The company will need to secure additional financing to fund ongoing clinical trials and operations beyond the first quarter of 2026 [166]. - There were no off-balance sheet arrangements as of September 30, 2025 [173]. Administrative Expenses - General and administrative expenses increased by $1.2 million for the nine months ended September 30, 2025, compared to the prior year period [160].

Clinical Trials - Enrollment of 100 patients in the ongoing Halneuron® Phase 2b trial, with 80 patients completing treatment; interim analysis expected in Q4 2025[1][2] - Halneuron® has received fast track designation from the FDA for the treatment of chemotherapy-induced neuropathic pain (CINP)[7] - SP16 IV Phase 1b trial is fully funded by the National Cancer Institute and will commence after FDA consultation[8] Financial Performance - Research and development expenses for Q3 2025 were $14.5 million, a significant increase from $0.5 million in Q3 2024, primarily due to $12.0 million in acquired in-process R&D expenses for SP16[3] - General and administrative expenses decreased to $1.3 million in Q3 2025 from $1.8 million in Q3 2024, mainly due to reduced legal and accounting fees[4] - Net loss attributable to common stockholders for Q3 2025 was $15.7 million, or $8.20 per share, compared to a net loss of $2.3 million, or $2.05 per share, in Q3 2024[5] Cash and Assets - Cash on hand as of September 30, 2025, was $10.1 million, providing operational runway through Q1 2026[5] - Total assets as of September 30, 2025, were $91.99 million, down from $94.31 million at the end of 2024[16] - Total liabilities decreased to $14.61 million as of September 30, 2025, from $30.03 million at the end of 2024[16] Licensing and Partnerships - The company secured an exclusive worldwide, royalty-free license to develop and commercialize SP16 for cancer-related pain in an all-stock transaction[1]

Core Insights - Viridien reported a strong performance in Q3 2025, achieving a Net Cash Flow of $62 million and reaffirming its full-year target of $100 million [2][7][22] Financial Performance - Revenue for Q3 2025 reached $313 million, a 27% increase from $246 million in Q3 2024, while year-to-date revenue for 9M 2025 was $888 million, up 14% from $778 million in 9M 2024 [2][32] - Adjusted EBITDAs for Q3 2025 were $167 million, reflecting a 70% increase year-on-year, with a margin of 53% compared to 40% in Q3 2024 [2][32] - IFRS Net Income for Q3 2025 was $41 million, a significant recovery from a loss of $10 million in Q3 2024 [13][32] Segment Performance - The Data, Digital and Energy Transition (DDE) segment generated revenue of $244 million in Q3 2025, a 31% increase year-on-year, driven by strong Earth Data late sales [4][32] - The Geoscience segment reported revenue of $108 million, up 5% year-on-year, while the Earth Data segment saw a substantial 63% increase in revenue to $136 million [8][32] - The Sensing and Monitoring (SMO) segment achieved revenue of $69 million, a 16% increase year-on-year, with profitability improving due to a streamlined cost structure [10][32] Cash Flow and Debt Management - The company generated a Net Cash Flow of $53 million in Q3 2025, bringing the cumulative total to $62 million by the end of September [15][17] - Viridien actively managed its liabilities, executing partial bond redemptions totaling $48 million in early October, which is expected to save approximately $4.5 million in annual interest [17][27] Outlook - Despite volatile oil prices, exploration and seismic activities are expected to remain resilient, supported by positive fundamentals in the E&P sector [20][21] - Viridien is confident in its ability to sustain strong cash generation and advance its deleveraging objectives, aiming for a Net Cash Flow target of $100 million in 2025 [22][28]

Core Viewpoint - Viridien is set to announce its third quarter 2025 financial results on October 30, 2025, after market close, indicating a significant upcoming event for stakeholders [1]. Company Overview - Viridien is an advanced technology, digital, and Earth data company focused on sustainable solutions for complex challenges in natural resources, digital, energy transition, and infrastructure [3]. - The company employs approximately 3,200 people globally and is listed on Euronext Paris SA under the ticker VIRI [3]. Conference Call Details - Participants must register for the conference call to receive a dial-in number and PIN code, with options to join via live webcast [2]. - A replay of the conference call will be available for 12 months on the company's website [2]. - The press release and presentation will be accessible on the company's website at 5:45 PM (CET) on the announcement day, followed by an English-language conference call at 6:00 PM (CET) [5].

Core Insights - Viridien and TGS have launched the Megabar Extension Phase I survey in the Barreirinhas Basin, covering 5,300 sq km, aimed at enhancing geological understanding and exploration potential in the region [1][4] - The Barreirinhas Basin is noted for its proven petroleum systems and recent licensing activities by international oil companies (IOCs), indicating a growing interest in the area [2][5] - The survey will utilize TGS's advanced GeoStreamer technology aboard the Ramform Tethys vessel, with data acquisition set to begin in early September and conclude by late November [3] Company Insights - Viridien is a technology and Earth data company focused on providing innovative solutions for natural resource challenges, employing around 3,200 people globally and listed on Euronext Paris [6] - TGS is committed to delivering high-quality data for exploration in Brazil's equatorial margin basins, leveraging its expertise to support the energy industry [5] Industry Insights - The Megabar Extension Phase I survey is positioned in a promising area with no existing 3D data, which could lead to new exploration opportunities and improved prospect evaluation [3][4] - The project is expected to generate significant interest and value for clients, providing them with an early-mover advantage in the underexplored Barreirinhas Basin [5]

Core Insights - Sinopec has deployed a complete land nodal acquisition system featuring 65,000 WiNG nodes for a 3D seismic survey in Mexico, covering approximately 3,000 square kilometers in the Tabasco and Veracruz regions [2][5] Group 1: Project Overview - The project involves challenging terrains such as plains, flooded areas, swamps, and hills, and has moved into the production phase with operations running smoothly [3] - The WiNG system is designed for complex environments and combines scalable architecture with advanced wireless communication technology to deliver high-density, high-resolution seismic data [4] Group 2: Technology and Performance - The Sercel WiNG system's performance, efficiency, and reliability are crucial for optimal data quality and subsurface imaging, even in difficult field conditions [3][4] - The Pathfinder transmission management technology allows field crews to monitor the entire acquisition spread in real time, ensuring thorough quality control throughout the operation [4] Group 3: Strategic Importance - This project marks a significant milestone in the partnership between Viridien and Sinopec, highlighting the strength of Viridien's technology and on-site support [5] - The successful deployment solidifies Sercel's presence in Latin America and indicates the growing global adoption of nodal acquisition systems for large-scale seismic exploration surveys [5]