Australis Oil & Gas (ATS) Corporate presentation summary

Asset position and resource

• ~48,700 net acres in the Tuscaloosa Marine Shale (TMS) at end-September 2026, including 40,800 HBP acres and 160 net future well locations.

• Independent 2C contingent oil resource estimate of 62,156 Mbbl; the TMS covers 20.4 million acres and has a USGS mean estimated recoverable resource of 1.5 billion bbls and 4.6 tcf.

• The TMS Core was delineated by Encana’s 27-well program in 2011–2014; early activity had identified variable results outside the Core.

• 2014-vintage TMS Core wells competed with major shale basins on oil productivity; presentation analysis cites an average 26% technology-driven uplift across major basins from 2014 to 2021.

Farmout and financing

• Development partner agreed to a work program of up to US$46.25 million, carrying a 20% working interest; completion earns the partner an 80% interest in ~46,100 net acres.

• A US$1 million leasing program carries a 20% working interest; leases revert if the partner does not complete its farm-in obligations. A further US$1 million is payable if the first well is not drilled and completed by 31 October 2026.

• An area of mutual interest covers a substantial part of the TMS Core, with a 20% participation right in additional leases secured within it.

• Sold 90% of wellbore-only interests in existing PDP inventory for US$16.9 million, effective 1 July 2025; proceeds enabled full repayment of Macquarie credit facilities at year-end 2025.

• Cash balance was US$11.2 million at 30 June 2026, with no debt and a non-operated production interest in 48 producing wells.

Drilling progress

• Three TMS wells have permits for 10,000 ft laterals: Willson 1H, Mathieu 1H and Baker 1H; the development partner approved Willson 1H as the first carried well.

• Q4 2026 spud remains the target, subject to rig availability; long-lead casing, production equipment and storage tanks have been ordered, with contractors being selected for key services.

• Willson 1H will include a data acquisition program; the carried land-leasing program is nearing completion, after which new leases fall under AMI provisions.

• The planned wells are intended to restart TMS development activity, with drilling described as the first since 2022.