Elixir Energy (EXR) investor relations material

Executive summary

• Completed stimulation, completion, and clean-up flow of Lorelle-3H appraisal well in ATP2056, achieving peak gas rates of 3 mmscfd and confirming high-quality, low impurity gas.

• Diona-1 exploration well delivered over-pressured, low impurity gas flows; flow testing paused pending artificial lift installation.

• Booked 662 BCFe of new net 2C Contingent Gas Resources in ATP2057, increasing total independently certified 2C Contingent Gas Resources in the Taroom Trough by 24% to ~3.5 TCFe.

• Entered early works agreement with APA Group for pipeline feasibility to Wallumbilla Gas Hub.

Financial highlights

• Ended quarter with $8.4 million in cash and $2.7 million undrawn debt, totaling $13.1 million in available liquidity.

• Net cash used in operating activities for the quarter was $1.07 million; net cash used in investing activities was $10.1 million.

• Financing activities provided $5.2 million in net cash for the quarter.

• FY26 R&D tax incentive estimated at ~$12 million; $7.3 million drawn from $10 million R&D financing facility.

Outlook and guidance

• Lorelle-3H flow testing in final phase, with production data expected to underpin next development steps.

• Pipeline feasibility study to Wallumbilla Gas Hub expected to report next quarter.

• Expenditures expected to decrease after Lorelle-3H testing concludes.

• Additional $2 million R&D facility secured for FY27 expenditures.