Amplitude Energy (AEL) AGM 2025 summary

Opening remarks and agenda

• Chairman welcomed attendees, introduced directors and executive team, and outlined meeting procedures and safety protocols.

• Chairman John Conde AO and Managing Director & CEO Jane Norman addressed the meeting, outlining the agenda and strategic focus for FY25 and beyond.

• Meeting agenda included addresses from the Chairman and Managing Director, Q&A, and formal business items.

Financial performance review

• Achieved record revenue, earnings, and cash flows in FY25, driven by higher production and reduced costs.

• Group production run-rate exceeded 77 TJe/d in June 2025, with FY25 total group production at 73 TJe/d.

• Realized gas prices increased by 12% to around AUD 10/GJ, supported by new contracts and spot sales.

• Underlying EBITDAX margin rose to 65% in FY25, with a 29% CAGR since FY22.

• Production expenses per GJ produced declined by 16% CAGR, reaching $2.33 in FY25.

Board and executive committee updates

• Board renewal included the appointment of Ian Davies and Jill Larkins, pending shareholder approval.

• Chairman John Conde retired after nearly 13 years, with Ian Davies succeeding him.

• Board composition now reflects a commitment to renewal and diversity, with only one director serving more than three years.

• Board comprises Chairman John Conde AO, CEO Jane Norman, and five independent non-executive directors.