Epsilon Energy

Industries Energy
Subsidiaries (https://www.sec.gov/Archives/edgar/data/1726126/000104746918007764/a2237409zex-21_1.htm) Epsilon Energy USA Inc., Epsilon Midstream, LLC, Epsilon Operating, LLC, Dewey GP, LLC, Dewey Holdings, LLC

Rating Overview

Risk Rating: Lower

Epsilon Energy is Lower Risk.

Epsilon Energy, Ltd. is Lower Risk. The company does not yield to political activism in shaping corporate governance, preventing initiatives that potentially alienate consumers, divide employees, and harm shareholders. The company implements race and identity-based policies that replace merit, excellence, and integrity with preferential treatment and outcomes. Overall, the company does not embrace corporate initiatives that redirect its central focus from business goals to partisan policies and divisive issues. This approach protects free exercise, free speech, and free enterprise.

Rating Criteria

Corporate Weaponization Risk Levels
Criteria Risk Level
Cancellations Lower Risk
Discriminatory Philanthropy No Data
Employment Protection High Risk

Corporate Weaponization

Corporate Governance and Public Policy Risk Levels
Criteria Risk Level
Advocacy Bias Medium Risk
Funding Lower Risk
Political Actions No Data

Corporate Governance and Public Policy

Rating Criteria Detail

Criteria Risk Level Rationale

Corporate Weaponization


Criteria:

Has canceled customers, suppliers, or vendors due to their political views or religious beliefs OR corporately boycotts, divests, or sanctions regions, people groups, or industries.

Risk Level:

Lower

Rationale:

Epsilon Energy has not publicly canceled customers, suppliers, or vendors based on political views or religious beliefs (1).

Criteria:

Charitable giving (including employee matching programs) policies or practices discriminate against charitable organizations based on views or religious beliefs.

Risk Level:

N/A

Rationale:

Epsilon Energy does not publish charitable giving guidelines (1).

Criteria:

Employment policies fail to protect against viewpoint or other discrimination and/or are ideological in nature.

Risk Level:

High

Rationale:

Epsilon Energy appears to prioritize diversity over merit in its leadership composition. From its 2026 Proxy Statement: “the Corporation is committed to promoting diversity and will, in the future, continue to seek to identify talented women to fulfill Board and
executive positions” (1). The company does not provide viewpoint protections for its employees (2).

Corporate Governance and Public Policy


Criteria:

Uses corporate reputation to support causes, organizations, or policies hostile to freedom of expression.

Risk Level:

Medium

Rationale:

Epsilon Energy supports DEI within its business practices. From its 2026 Form 10-K: “We continue to foster a culture that embraces inclusion and diversity and encourages collaboration. Our core values include inclusion and diversity,and we believe in equity and the value and voice of every employee” (1). Otherwise, the company has not supported ideological causes or policies (2).

Criteria:

Uses corporate funds to advance ideological causes, organizations, or policies hostile to freedom of expression.

Risk Level:

Lower

Rationale:

Epsilon Energy has not used corporate funds to advance ideological causes, organizations, or policies (1).

Criteria:

Uses corporate political actions and/or financial contributions for ideological, non-business purposes.

Risk Level:

N/A

Rationale:

Epsilon Energy does not operate a PAC or engage in lobbying at this time (1)(2)(3).