Amplitude Energy (AEL) AGM 2024 summary

Opening remarks and agenda

• Chairman welcomed attendees, acknowledged traditional landowners, and outlined emergency procedures and meeting format.

• Introduced board members, executive team, and auditor present at the meeting.

• Chairman highlighted operational successes, project challenges addressed, and a refreshed Board and management team, emphasizing readiness for growth in the East Coast domestic gas market.

• Acknowledgement of new directors standing for election and appreciation for retiring board member's service.

• Gratitude expressed to shareholders, staff, customers, community stakeholders, lenders, and Board colleagues.

Financial performance review

• Achieved record average group production of nearly 75 terajoules equivalent per day in the September 2025 quarter, driving record revenue and improved margins.

• Adjusted cash from operations increased from $80.6m in FY22 to $114.8m in FY24.

• Focus remains on maximizing production at Orbost and strengthening cash generation to reduce risk.

• Continued cost reductions and increased production have led to higher margins and cash generation.

• Upgraded group production guidance to 65–72 terajoules equivalent per day for FY 2025.

Board and executive committee updates

• Jane Norman completed her first full year as CEO, reshaping management and clarifying accountabilities.

• Two new directors, Gary Gray (AO) and Frank Tudor, joined and stood for election; Jeff Schneider retired.

• Board tenure now averages under four years, enhancing diversity.