Elixir Energy (EXR) investor relations material

Asset overview and resource position

• Holds the largest acreage in the Taroom Trough, Queensland, with ~3.5 Tcf (2C) independently certified contingent gas resources and significant condensate potential.

• Acreage is adjacent to key infrastructure, including the Wallumbilla Gas Hub, and is an extension of Shell's primary operational area.

• Multiple stacked hydrocarbon reservoirs identified at Lorelle-3, including Canyon and Lorelle Sandstones, with up to 148m net gas-condensate pay.

• Resource estimates include 3,274 Bcf (2C) gas and 30 mmbbls (2C) condensate across several permits.

• Reservoirs exhibit near-conventional properties, high porosity, and permeability, supporting high flow rates.

Recent operations and well results

• Lorelle-3H Phase 1 testing delivered peak rates of 10.5 mmscfde and stable rates of 2.35 mmscfde, confirming proof of concept.

• Gas from the Dunk Reservoir is high quality, requiring minimal processing, with a condensate/oil to gas ratio of 10 bbls/mmscf and 47.8° API.

• Lorelle Sandstone and Canyon Sandstone packages show regionally anomalous thickness and attractive petrophysical properties.

• Offset wells (Daydream-2, Overston-2) have demonstrated strong unstimulated and stimulated flow rates.

• Phase 2 post-soak flow testing at Lorelle-3H is scheduled to commence in October.

Infrastructure and development plans

• Warkon Pilot production system planned for up to 40 mmscfd and 1,000 bbls/d, with potential for infrastructure sharing to reduce costs by up to 74%.

• Conceptual midstream solution involves APA-owned and operated infrastructure, with tolling arrangements and direct pipeline access to Wallumbilla.

• High-resolution 3D seismic acquisition underway, including data trades with QGC (Shell) to enhance appraisal and development planning.

• Collaborative production with neighboring operators may begin within two years, accelerating regional momentum.