Elixir Energy (EXR) AGM 2025 Presentation summary

Portfolio and operations update

• Added 1,882km² of new Taroom Trough acreage and 1,241 BCFe of new 2C resources; rationalized non-core assets and refreshed management team.

• Farmed into highly prospective Taroom Trough acreage with Santos and secured a carry from XST at Diona-1.

• Raised $7.1m in new equity capital and launched a three-phase Taroom Trough strategy.

• Diona-1 confirmed 23m of net gas pay, with completion and testing planned; preparations complete for Lorelle-3 drilling and 2D seismic.

• Retention process started at ATP2044 and commitments met in ATP2077.

Taroom Trough resource and market positioning

• Holds the largest acreage position in the Taroom Trough (>2,000km²), with 2.6 TCFe of independently certified 2C contingent gas resources.

• Acreage is geologically diversified across gas, gas-condensate, and light oil plays, with interests adjacent to Shell’s key operations.

• Additional unbooked resource potential exists, with up to 9 TCF possible if Shell’s resource density is applied to all permits.

• Diona-1 well shows regionally impactful discovery with high-quality wet gas and proximity to infrastructure for rapid tie-in.

• Lorelle-3 well planned for January 2025, targeting high-potential Tinowon 'Dunk' Sands, leveraging positive geophysical and seismic data.

Strategic partnerships and industry context

• Farm-in and joint venture activity with Santos and Omega, including shared drilling and seismic programs.

• Highly leveraged to Shell’s success in the region, with mapped exposure to key productive geological formations.

• The Taroom Trough is compared to Canada’s Montney play, highlighting similar multi-phase resource potential and rapid production growth.

• Third-party operators are investing heavily in the region, with significant new seismic, drilling, and capital raises.

• A new multi-TCF east coast gas resource is critical to prevent an energy crisis and support LNG exports.