Basic loss per share is computed using the weighted-average number of common shares outstanding for the period. Diluted loss per share is calculated using the treasury stock method to reflect the assumed issuance of common shares for all potentially dilutive securities, which consist of outstanding stock options and nonvested restricted stock units. Potentially dilutive shares are excluded from the computation of diluted loss per share if their effect is anti-dilutive.

Warrants to purchase 1,029,104 shares of common stock, options to purchase 440,000 shares of common stock and 467,218 restricted stock units, on a weighted average basis, were excluded from the computation of diluted shares for the three months ended June 30, 2026, as their inclusion would have been anti-dilutive. Options to purchase 465,000 shares of common stock and 214,270 restricted stock units were excluded from the computation of diluted shares for the three months ended June 30, 2025, as their inclusion would have been anti-dilutive.

Warrants to purchase 810,467 shares of common stock, options to purchase 497,161 shares of common stock and 430,942 restricted stock units, on a weighted average basis, were excluded from the computation of diluted shares for the nine months ended June 30, 2026, as their inclusion would have been anti-dilutive. Options to purchase 465,000 shares of common stock and 229,740 restricted stock units were


	Three months ended June 30,				Nine months ended June 30,
	2026		2025		2026		2025
Numerator:
Net loss from continuing operations	$	(403,000)	$	(1,553,000)	$	(2,931,000)	$	(4,691,000)
Less: Net earnings (loss) attributable to non-controlling interests of continuing operations	37,000		(3,000)		85,000		(5,000)
Net loss from continuing operations attributable to Barnwell Industries, Inc.	(440,000)		(1,550,000)		(3,016,000)		(4,686,000)
Net earnings from discontinued operations	—		—		—		12,000
Net loss attributable to Barnwell Industries, Inc.	$	(440,000)	$	(1,550,000)	$	(3,016,000)	$	(4,674,000)

Denominator:
Basic weighted-average number of common shares outstanding	14,313,866		10,053,534		12,688,620		10,051,390
Effect of dilutive securities - common stock options and restricted stock units	—		—		—		—
Diluted weighted-average number of common shares outstanding	14,313,866		10,053,534		12,688,620		10,051,390

Basic and diluted loss per common share:
Net loss per common share from continuing operations attributable to Barnwell Industries, Inc. stockholders	$	(0.03)	$	(0.15)	$	(0.24)	$	(0.47)
Net loss per common share from discontinued operations	—		—		—		—
Net loss per common share attributable to Barnwell Industries, Inc. stockholders	$	(0.03)	$	(0.15)	$	(0.24)	$	(0.47)