<span item_type="fundamental" item_id="bb23e351b35421b7c313cd63e88ec87e" counter_id="ETF/US/UNL" env="prod"></span><span item_type="announcement" item_id="580247569408333185" env="prod"></span><p>Revenue: As of FY2025 Q3, the actual value is USD -1.284 M.</p><p>EPS: As of FY2025 Q3, the actual value is USD -0.99.</p><p>EBIT: As of FY2025 Q3, the actual value is USD -1.384 M.</p><p></p><h3>Segment Revenue</h3><ul><li><strong>Average Daily Total Net Assets</strong>: $13,737,510 for the nine months ended September 30, 2025, compared to $17,907,165 for the same period in 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1405513/000110465925108393/unl-20250930x10q.htm"></span></li></ul><h3>Operational Metrics</h3><ul><li><strong>Net Income (Loss)</strong>: $453,047 for the nine months ended September 30, 2025, compared to a loss of - $1,696,155 for the same period in 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1405513/000110465925108393/unl-20250930x10q.htm"></span></li><li><strong>Net Income (Loss) per Limited Partner Share</strong>: - $0.38 for the nine months ended September 30, 2025, compared to - $0.66 for the same period in 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1405513/000110465925108393/unl-20250930x10q.htm"></span></li></ul><h3>Cash Flow</h3><ul><li><strong>Net Cash Provided by (Used in) Operating Activities</strong>: $2,121,504 for the nine months ended September 30, 2025, compared to - $5,870,579 for the same period in 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1405513/000110465925108393/unl-20250930x10q.htm"></span></li><li><strong>Net Cash Provided by (Used in) Financing Activities</strong>: - $8,680,047 for the nine months ended September 30, 2025, compared to $5,593,080 for the same period in 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1405513/000110465925108393/unl-20250930x10q.htm"></span></li></ul><h3>Unique Metrics</h3><ul><li><strong>Total Commissions Accrued to Brokers</strong>: $2,918 for the nine months ended September 30, 2025, compared to $5,965 for the same period in 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1405513/000110465925108393/unl-20250930x10q.htm"></span></li></ul><h3>Future Outlook and Strategy</h3><ul><li><strong>Core Business Focus</strong>: UNL aims to maintain its investment strategy by investing in natural gas futures contracts to reflect the average daily percentage changes of the spot price of natural gas. The fund seeks to achieve its investment objective by ensuring that the average daily percentage change in its NAV is within plus/minus ten percent of the average daily percentage change in the prices of the Benchmark Futures Contracts over a 30-day period.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1405513/000110465925108393/unl-20250930x10q.htm"></span></li><li><strong>Non-Core Business</strong>: UNL may invest in other natural gas-related investments to comply with regulatory requirements, risk mitigation measures, or market conditions, which could include cash-settled options, forward contracts, and cleared swap contracts.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1405513/000110465925108393/unl-20250930x10q.htm"></span></li></ul>

Us 12 Mth Natural Gas | 10-Q: FY2025 Q3 Revenue: USD -1.284 M