SaskEnergy Second Quarter Report - September 30, 2025

Notes to the Consolidated Financial Statements (unaudited)

11.

Natural Gas Sales and Purchases

2024 For the Three Months Ended September 30,

Asset 2025

Asset

(millions)

Commodity Optimization Total

Commodity Optimization Total

NATURAL GAS SALES Realized sales

$

16

$

16

$

32

$

19

$

14

$

33

Change in fair value of natural gas derivative instruments

-

-

-

(1)

(1)

(2)

16

16

32

18

13

31

NATURAL GAS PURCHASES Realized purchases (net of change in inventory) Change in fair value of natural gas derivative instruments

(12)

(15)

(27)

(16)

(12)

(28)

(2)

1

(1)

1

(1)

-

Change in revaluation of natural gas in storage to net realizable value

-

-

-

-

1

1

(14)

(14)

(28)

(15)

(12)

(27)

$

2

$

2

$

4

$

3

$

1

$

4

2024 For the Six Months Ended September 30,

Asset 2025

Asset

(millions)

Commodity Optimization Total

Commodity Optimization Total

NATURAL GAS SALES Realized sales

$

41

$

49

$

90

$

45

$

27

$

72

Change in fair value of natural gas derivative instruments

-

4

4

-

1

1

41

53

94

45

28

73

NATURAL GAS PURCHASES Realized purchases (net of change in inventory) Change in fair value of natural gas derivative instruments

(32)

(42)

(74)

(36)

(24)

(60)

(9)

(2)

(11) (85)

(5)

(1)

(6)

(41)

(44)

(41)

(25)

(66)

$

-

$

9

$

9

$

4

$

3

$

7

26

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