SEGMENT REPORTING

3 Months Ended

Mar. 31, 2026

NOTE 5 – SEGMENT REPORTING

Upon completion of the Share Exchange, the Company re-evaluated its reporting segments. The Company determined it has two reporting segments on the basis of its operations, products, and the economic characteristics of each of its operating segments and corresponds to the manner in which its Chief Operating Decision Maker (“CODM”) reviews and evaluates performance to make decisions about resources to be allocated to the segment. As a result, the Company’s segment structure has been reassessed and now reflects the Company’s legacy O&G operations as well as its newly added emerging renewables initiatives (“Renewables”).

The O&G segment generates revenue from oil and gas operations whereas Renewables is in the pre-revenue stage, primarily incurring research and development and start-up costs associated with its development of scalable technologies for converting plastic and biomass waste into renewable fuels and chemicals. The CODM is a committee including the Company’s Chief Executive Officer, Chief Operating Officer, and Chief Financial Officer.

The Company measures and evaluates its reportable segments based on their respective adjusted net income (loss), general and administrative expenses, research and development costs, and professional fees. The Company excludes certain corporate-related expenses and certain transactions or adjustments that the CODM considers to be non-operational, such as changes in fair value of warrant liabilities, restructuring charges, interest expense and income and amounts related to depreciation, depletion and amortization expense. Although these amounts are excluded, they are included in reported Loss before income taxes within the accompanying unaudited consolidated statements of operations and are included in the reconciliation below. The CODM uses segment adjusted net loss in the budget and forecasting process and to monitor budgets versus actual results, which are used in assessing the performance of the reportable segments and to allocate resources across the reportable segments. The balance sheet is presented on a consolidated basis, as the CODM does not use segment specific asset or liability information, including fixed assets, to assess performance. As a result, segment asset and liability details are disclosed at the aggregate level.

A reconciliation of net loss for the reportable segments to the applicable line items within the accompanying consolidated statements of operations is as follows.

	O&G			Renewables			Total
	Three Months Ended March 31, 2026
	O&G			Renewables			Total
Revenue	$	132,965		$	-		$	132,965

Segment expense:
General and administrative expenses		-			4,582,553			4,582,553
Research and development costs		-			208,787			208,787
Operating lease expense and severance tax		125,662			-			125,662
Adjusted segment operating income (loss)		7,303			(4,791,340	)		(4,784,037	)

Reconciliation of “Adjusted segment operating income (loss)” to “Loss before income taxes”
Depreciation, depletion and amortization		64,749			5,453			70,202
Write off of application costs incurred on abandoned patent applications		-			283,927			283,927
Grant income
Changes in fair value of warrant liability
Interest expense		-			158,985			158,985
Interest income		-			(67,564	)		(67,564	)
Foreign currency gain		-			(483	)		(483	)
Loss before income taxes	$	(57,446	)	$	(5,171,658	)	$	(5,229,104	)

	O&G		Renewables			Total
	Three Months Ended March 31, 2025
	O&G		Renewables			Total
Revenue	$	-	$	-		$	-
Segment expense:
General and administrative expenses		-		992,599			992,599
Research and development costs		-		607,368			607,368
Adjusted segment operating loss		-		(1,599,967	)		(1,599,967	)

Reconciliation of “Adjusted segment operating loss” to “Loss before income taxes”
Depreciation and amortization		-		4,218			4,218
Interest expense		-		98,630			98,630
Grant income		-		(691,207	)		(691,207	)
Changes in fair value of warrant liability		-		5,453			5,453
Foreign currency gain		-		(6,449	)		(6,449	)
Loss before income taxes	$	-	$	(1,010,612	)	$	(1,010,612	)

Oil and gas revenues and expenses for the legacy HUSA business have been included in the statement of operations from July 1, 2025. See Note 4 – Acquisition above.

	2026		2025
	Three Months Ended March 31,
	2026		2025
Depreciation, depletion and amortization:
O&G	$	64,749	$	-
Renewables		5,453		4,218
Consolidated depreciation, depletion and amortization expense	$	70,202	$	4,218

	March 31, 2026		December 31, 2025
	March 31, 2026		December 31, 2025
Assets:
O&G	$	759,743	$	794,963
Renewables		44,865,783		31,060,466
Total assets of reportable segments	$	45,625,526	$	31,855,429

- Definition

The entire disclosure for segment reporting.

+ References

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+ Details

ABUNDIA GLOBAL IMPACT GROUP, INC. 10-Q