Barnwell clarifies Canadian oil and gas sale proceeds are not payable directly to shareholders

• Barnwell Industries' October 13, 2026, update detailed its proposed Canadian oil and gas business sale to a local Canadian corporation.
• The CAD 9 million base price comprises CAD 4 million cash and a 5% gross overriding royalty valued at CAD 5 million.
• A buyer affiliate may purchase the royalty for CAD 5 million following closing; prior royalty payments do not reduce that price.
• The seller retains pre-closing operating economics; excess cash and near-cash assets remain outside the sale.
• Future site restoration and abandonment obligations transfer with the business at closing, although contractual indemnification obligations remain.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Barnwell Industries Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001140361-26-039979), on October 19, 2026, and is solely responsible for the information contained therein.