Elixir Energy (EXR) Noosa Mining Investor Conference summary

Industry context and market dynamics

• Ongoing energy crisis in Australia due to underinvestment and inadequate reserves, leading to rising prices and increased demand, especially on the East Coast.

• East Coast gas market faces a looming supply shortfall from 2026, risking energy security and export industry stability.

• Unlocking new multi-TCF gas resources is critical to prevent crisis and support domestic and export needs.

• Queensland faces a crossroads between resource development for economic growth and restrictive policies that could harm jobs and state finances.

• Activity in early-stage gas exploration and development is increasing due to anticipated energy shortfalls.

Taroom Trough significance and infrastructure

• The Taroom Trough is identified as a critical and the largest confirmed gas resource, capable of supporting both domestic and export markets, with significant industry interest and investment.

• Major players like Shell are actively developing the area, bringing advanced North American technologies and significant financial backing.

• The region benefits from proximity to major infrastructure, including pipelines and the Wallumbilla Gas Hub, facilitating rapid scale-up.

• The Montney play in Canada serves as a successful analogue, showing rapid production growth with advanced drilling.

• Major industry players are active in the Taroom Trough, with joint ventures, seismic programs, and multi-well campaigns underway.

Company strategy, resource position, and competitive landscape

• Holds the largest acreage position in the Taroom Trough, surrounding Shell’s operations, with 500,000 net acres (over 2,000 km²).

• 2.8 TCF of independently certified 2C gas resources booked, positioning for rapid development.

• Second largest resource position in the region, focused on gas, and surrounds the most mature area operated by a major peer.

• Team includes experienced executives with a track record of building successful gas companies in Australia.

• Capitalized at AUD 60 million with AUD 9.2 million cash on hand as of September 2025, supporting an active drilling program and trading at a significant discount to peers.