1. Set Put Interval refers to the 3-, 6-, 9-, 12-, or 18-month interval selected between penalty-free redemption options when the Notes are purchased. The Set Put Date is the last day of each Set Put Interval, with a reasonable expectation of the same in the current year. A request for redemption at a Set Put Date must be submitted within the required notice window. If Phoenix Energy does not receive a valid redemption request by the applicable deadline, Phoenix Energy will be under no obligation to redeem the Notes on the next Set Put Date, and the Notes will continue. Participants who miss the window can request early redemption, which is separate from scheduled penalty-free redemption at a Set Put Date. Early redemption may be made at 95% of the aggregate principal amount of the Notes plus accrued and unpaid interest, subject to the terms, conditions, exceptions, annual limits, and other limitations described in the applicable prospectus and offering documents. Phoenix Energy may not be able to satisfy early redemption requests in all circumstances. Please see “Risk Factors” in the prospectus for additional information.

^† Withdrawing funds from a qualified plan such as an IRA, 401K, or 403(b) may subject you to tax implications as well as penalties for withdrawing funds prior to age 59 ½. Please review your plan materials and/or contact your plan administrator for more information regarding tax considerations and possible penalties. If you decide to use funds from a qualified plan, your representative can assist you in completing a proper rollover process to eliminate potential tax and penalty charges related to the transaction. If you are currently subject to Required Minimum Distributions (RMD), you should speak to your representative to determine whether an investment with Phoenix is appropriate for you.

^‡ The Private Placement Offering (Regulation D) is exempt from the registration requirements of the Securities Act and only “accredited investors,” as defined in Rule 501 of Regulation D, may invest in such offerings. Accredited investors are defined as individuals with a net worth over $1 million (excluding primary residence) or income over $200,000 (individual) or $300,000 (household) in each of the prior two years, with a reasonable expectation of the same in the current year. Learn more about accreditation requirements. Please refer to the Company’s filings with the SEC. To participate in the Registered Offering, investors do not need to to meet these accreditation requirements.

^‖ As of 8/14/26, Trustpilot is an independent third-party review platform and is not paid for or influenced by the Company, Crescent Securities Group, Inc., or the applicable broker-dealer representative. The methodology, criteria, and guidelines for each review can be found on the applicable third-party website. No compensation was provided to investors in exchange for reviews or testimonials. These ratings reflect customer experience with Phoenix Energy as a company and do not constitute a rating, endorsement, or prediction of the performance of any securities offered by Phoenix Energy.

^¶ Total interest paid is reflective of total interest paid and accrued on all bonds and notes issued by the Company and its subsidiaries (including Adamantium) through 6/30/26. This amount includes $308.6 million paid to investors and does not include any payments paid to any other parties, including lenders. The interests paid and accrued includes a portion of interest related to bonds and notes for which Crescent Securities Group, Inc. did not serve as the Managing Broker Dealer but is consistent with the disclosure by the Company in its audited financial statements.

^†† Financial Times. (2025, April 2). FT Ranking: The Americas’ Fastest-Growing Companies 2025. Based on revenue growth between 2020 and 2023.

^‡‡ As of 8/28/26, Better Business Bureau is an independent third-party review platform and is not paid for or influenced by the Company, Crescent Securities Group, Inc., or the applicable broker-dealer representative. The methodology, criteria, and guidelines for each review can be found on the applicable third-party website. No compensation was provided to investors in exchange for reviews or testimonials. These ratings reflect customer experience with Phoenix Energy as a company and do not constitute a rating, endorsement, or prediction of the performance of any securities offered by Phoenix Energy.