Share Capital and Per Share Amounts (Tables)

3 Months Ended

Mar. 31, 2026

Share Capital and Per Share Amounts [Abstract]

Schedule of Common Share Capital

The following table summarizes the changes to the Company’s common share capital:

		Shares (‘000)				Amount
Balance, January 1, 2025			69,718			$	164,402
Issued on exercise of share units⁽¹⁾			542				2,561
Issued on rights offering⁽²⁾			55,147				298,653
Share issue costs, net of tax			-				(2,681	)
Balance, December 31, 2025			125,407			$	462,935
Issued on exercise of share units⁽¹⁾			21				161
Share issue costs, net of tax			-				(231	)
Balance, March 31, 2026			125,428			$	462,865

(1)

Differences in the number of exercised units compared to those disclosed in stock-based compensation and the value recognized in contributed surplus relates to withholding taxes on issuances (Note 12).

(2)

On December 17, 2025, Greenfire completed a rights offering of its common shares to its shareholders.

Schedule of Basic and Diluted Net Income (Loss) Per Share

The following table summarizes the Company’s basic and diluted net income (loss) per share:

(thousands of shares, except per share information)		Three months ended March 31, 2026				Three months ended March 31, 2025
Weighted average shares outstanding - basic			125,411				69,872
Weighted average share units outstanding			45				627
Weighted average anti-dilutive share units			(45	)			-
Weighted average shares outstanding - diluted			125,411				70,499
Basic and diluted net income (loss) per share		$	(0.58	)		$	0.23

Schedule of Restricted Stock Units (“RSUs”) and Performance Share Units (“PSUs”)

A summary of the Restricted Stock Units (“RSUs”) and Performance Share Units (“PSUs”), collectively the share units outstanding, is as follows:

(thousands of units)		RSUs				PSUs				Total
Balance, January 1, 2026			84				249				333
Exercised⁽¹⁾			(38	)			-				(38	)
Forfeited / Expired			(1	)			(54	)			(55	)
Balance, March 31, 2026			45				195				240

(1)

Differences in exercised awards compared to those disclosed in share capital relate to withholding taxes on share issuance (Note 12).