NXT Energy Solutions Inc. is a Calgary based technology company that provides a proprietary airborne SFD® survey system to oil and gas exploration clients and to geothermal exploration projects. The SFD® technology uses quantum mechanics principles to detect subsurface stress anomalies that indicate potential hydrocarbon traps or geothermal reservoirs. The company conducts surveys worldwide from its headquarters in Canada and delivers detailed reports and maps that help clients prioritize exploration prospects.

NXT Energy Solutions Inc. generates revenue primarily by conducting SFD® surveys on a fee for service basis for exploration companies. The company has not earned any revenue from geothermal rights in the last three fiscal years, with all reported income coming from hydrocarbon related surveys. In addition to survey fees NXT may pursue gross overriding royalty payments or other incentive fees if clients achieve production on areas recommended by its surveys and it may eventually offer geological and geophysical integration services for additional revenue.

NXT Energy Solutions Inc. holds a distinctive position in the exploration services industry due to its proprietary SFD® technology which is not replicated by any other competitor. The SFD® system is viewed as highly complementary to traditional seismic surveys offering a faster lower cost method to screen large acreage before committing to more expensive seismic programs. The company has secured patents or received patent allowances in forty seven jurisdictions strengthening its intellectual property protection and reinforcing its barrier to entry.

NXT Energy Solutions Inc. serves oil and gas exploration companies geothermal developers and national oil corporations across multiple regions. Specific clients referenced in the filing include AL‑Haj Enterprises Private Limited in Pakistan the strategic alliance partner Synergy in Africa an independent oil and gas exploration company in Southeast Asia an independent oil and gas exploration company in Türkiye an independent oil and gas exploration company in South Asia and Alberta Geothermal Resource Recovery Inc. for a geothermal survey in Alberta Canada.