BARNWELL INDUSTRIES INC

Barnwell Industries held its Annual Meeting on June 29, 2026, where stockholders approved several key proposals. These included the election of six directors and significant amendments to the 2018 Equity Incentive Plan, increasing the number of shares available for issuance from 1.6 million to 3.08 million. Additionally, stockholders ratified certain equity awards, approved the advisory vote on executive compensation, and opted for annual say-on-pay votes. The selection of Weaver & Tidwell, L.L.P. as the independent auditor was also ratified.

Barnwell Industries, Inc. reported improved financial results for its second quarter ended March 31, 2026, with a consolidated net loss of $1,116,000, down from $1,412,000 in the prior quarter. The company achieved this improvement by lowering administrative expenses, enhancing oil and gas operating results, and completing its corporate transition to Houston. Barnwell remains debt-free with a strong cash position and is actively evaluating strategic alternatives for its Canadian oil and gas business and broader value-creation opportunities.

Barnwell Industries Inc. reported a net loss attributable to the company of $(1.15) million, or $(0.09) per share, for the second quarter ended March 31, 2026, an improvement from a net loss of $(1.21) million, or $(0.12) per share, in the prior year period. Revenues from continuing operations decreased to $2.54 million from $3.57 million year-over-year. The company's cash and cash equivalents increased to $4.02 million, and it recognized $338,000 in equity in income of affiliates for the quarter.