AleAnna, Inc. Announces Receipt of Large D&M Prospective Resource Report and Significant Expansion of its 5-Year Development Plan

The Company plans to develop one or more new fields annually through 2031, beginning with Gradizza in 2027

• AleAnna Inc. (“AleAnna or the “Company”) has received a Prospective Resource report from DeGolyer and MacNaughton (“D&M”) containing 32 undrilled / undeveloped prospects in which the Company holds mineral interests. The Prospects are assessed to contain an un-risked Pmean resource of ~575 Billion cubic feet of gross sales gas (~520 Bcf net to AleAnna).
  
• All prospects in the report are in AleAnna’s core Po Valley Region in Italy, many in the immediate vicinity of Longanesi field. Except for 5 locations on the Longanesi concession, all Prospects are AleAnna 100% working interest.
  
• Including the existing Gradizza and Trava discoveries, AleAnna management plans 8 new drilling projects / prospective developments for the five-year period beginning January 1, 2027, with the remaining 24 prospects proposed for the time period 2032+. At the same time, AleAnna continues to evaluate its substantial Po Valley acreage base for further expansion opportunities.
  

DALLAS and MILAN, May 21, 2026 (GLOBE NEWSWIRE) -- Following recent press releases on the receipt of a Production Concession for the Gradizza field, and receipt of an updated Reserves report containing a 47% increase to 1P reserves, AleAnna (Nasdaq: ANNA) announces its intent to progress a wholly-organic growth and value-creation plan designed to provide sustained, year-after-year production growth, from initial production at Gradizza through broader portfolio development and projected earnings growth.

The plan is underpinned by a strong Prospective Resource assessment from D&M, which contains a high-quality, risk-reduced portfolio of drilling locations well-advanced through the regulatory approval process in Italy, and supported by 2D and 3D seismic previously acquired and interpreted by AleAnna technical experts. Further, the plan is carefully designed to maximize synergies between individual prospects, sharing multi-well pads and production facilities wherever possible. Capital allocation priorities and a scalable operating model have been employed, and free cash flow is used where possible to minimize the requirement for debt and future equity fund-raising.

Resource Development Plan Key Component 1 — Future Expansion of Longanesi Field
Using its extensive knowledge of Longanesi field reservoirs, and an updated 3D seismic processing and interpretation, AleAnna has proposed and D&M has confirmed the existence of additional potential development locations at Longanesi which are included in the Prospective Resource report:

Two of these locations can be developed from the existing Longanesi multi-well pads and have been included in the 5-year development plan. Both can utilize existing pipeline and facilities infrastructure and offer excellent potential for near-term, high profit margin additions to Longanesi.

Resource Development Plan Key Component 2 — Development of Additional Resources in the Immediate vicinity of Longanesi Field (Longanesi and Ponte dei Grilli Clusters)
The D&M Prospective Resource report contains 17 individual drilling / development locations in the immediate vicinity of Longanesi, many of which can potentially share synergies including multi-well pads, shared production facilities and shared marketing tie-in points. All locations are supported by 3D seismic and offer substantial risk reduction through recognition of Direct Hydrocarbon Indicators (“DHI’s or Bright Spots”), and all are 100% working interest to AleAnna.

Resource Development Plan Key Component 3 — Addition of a New Miocene Play Based on Large Anticlinal Closures in the Po Valley
Recent geologic and geophysical assessments by AleAnna’s technical staff have uncovered the existence of a new Miocene-aged natural gas play in the Po Valley, characterized by large anticlinal closures and further supported by the presence of reservoir-quality sandstones deposited in an alluvial or shallow-water environment. The combination of large areal extent and thick potential reservoirs offers the potential for large in-place volumes in several cases. Miocene Prospects with 100% working interest to AleAnna contain these characteristics and are included in the 5-year drilling / development plan.

Additional details will be available in an updated corporate presentation which will be incorporated on AleAnna’s website later in 2026.  

Management Commentary
Marco Brun, Chief Executive Officer, commented:

“This Prospective Resource report from DeGolyer and MacNaughton is a significant milestone for AleAnna, highlighting the scale and quality of our Po Valley portfolio. With 32 identified prospects, we now have a clear, multi-year inventory to support consistent growth.

Beginning with Gradizza in 2027, we plan to develop new fields annually through 2031, leveraging our largely operated position and proximity to existing infrastructure to drive capital efficiency.
Importantly, this is a disciplined, organic growth strategy that we intend to fund primarily through internal resources, positioning AleAnna to deliver sustainable production growth and long-term shareholder value.

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

Forward-Looking Statements
The information included herein contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Full details related to our forward looking statements can be found on our website www.aleannainc.com/forwardlookingstatements

Investor Relations Contact
Ivan Ronald
ironald@aleannagroup.com

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