Elixir Energy (EXR) investor relations material

Executive summary

• Lorelle-3H cleanup flows recorded peak production of 10.4 mmscfd plus 10 bbl/d of condensate; the well then entered a 60-day soak before post-soak testing began on 1 October.

• After quarter-end, a binding farmout to Beach Energy was announced, valued at $205m and comprising $25m cash plus a four-year, $180m gross carried work program, subject to completion.

• The strategic review sought to accelerate appraisal of the ~3.5 TCFe 2C contingent resource position while improving access to capital and technical capability.

Financial highlights

• Cash and cash equivalents were $6.021m at 30 September 2026; available liquidity including undrawn facilities was $7.765m.

• Quarterly net cash used was $0.780m in operating activities and $8.835m in investing activities, including $10.835m of capitalised exploration and evaluation payments and a $2m deposit receipt.

• Financing activities generated $7.280m net cash, including $5.027m from equity issues and $2.573m of borrowings; $0.320m was paid in equity issue costs.

Outlook and guidance

• Post-soak Lorelle-3H flow testing began 1 October and was expected to conclude at month-end, with results to be evaluated and communicated in the following quarter.

• The four-year Beach work program is to be developed promptly; the carried program is expected to cover activities across most acreage and reduce forward capital requirements, subject to transaction completion.

• Artificial lift installation and further Diona-1 testing are intended in 2HFY27, subject to joint venture agreement on a new work program and budget.