Australis Oil & Gas (ATS) Corporate presentation summary

Strategic position and asset overview

• Holds approximately 47,500 net acres in the TMS Core, with 39,900 acres held by production and an estimated 62 million barrels of net recoverable oil.

• Secured a farmout agreement with a US-listed independent oil and gas company, granting a 20% carried working interest in a $46.25 million work program.

• Retains a modest non-operated production interest in 48 producing wells and maintains a cash balance of $11.2 million with no debt.

Transaction and partnership details

• Development partner will earn an 80% interest in ~46,100 net acres upon completion of the work program.

• Australis is carried for a 20% interest in the initial drilling phase, with the first well (Willson 1H) planned for Q4 2026.

• Sold 90% of wellbore-only interests in existing PDP wells for $16.9 million, enabling full repayment of credit facilities and funding for development.

• Area of Mutual Interest (AMI) established, allowing participation in additional leases.

TMS basin and performance context

• TMS is a Cretaceous shale play with a USGS mean estimated recoverable resource of 1.5 billion barrels and 4.6 TCF.

• Activity in the TMS halted after the 2014 oil price collapse, leaving the basin largely undeveloped despite strong core well performance.

• TMS Core wells from 2014 matched or exceeded productivity of major shale basins, with further upside from modern technology yet to be applied.