Amplitude Energy (AEL) investor relations material

Strategic positioning and market outlook

• Focused on Australia's tight east coast domestic gas market with significant infrastructure in Otway and Gippsland Basins.

• Anticipates higher domestic gas prices without new supply, with contract prices rising and spot price volatility during winter demand peaks.

• Gas is increasingly critical for electricity grid stability as renewables grow and coal retires.

Operational and financial performance

• Achieved record H1 FY26 production of 75.5 TJe/day, up 3%, and sales revenue of $141.5m, up 6%.

• Underlying EBITDAX rose 9% to $100.3m, with adjusted cash from operations up 5% to $85.6m.

• Production expenses fell 14% to $24.9m, with unit costs down 16% to $1.79/GJe.

• Cash and cash equivalents increased to $81.3m, and net debt reduced to $33.9m.

Growth projects and infrastructure

• Near-term brownfield projects aim to boost equity production by over 50% by 2028, leveraging existing assets.

• ECSP (East Coast Supply Project) on track for first gas in 2028, backed by Annie discovery and potential Juliet and Nestor prospects.

• Patricia Baleen restart in Gippsland Basin targets 3-10 TJ/day, enhancing supply flexibility and asset utilisation.