Hartshead Resources (HHR) Corporate presentation summary

Strategic focus and resource base

• Focused on UK North Sea gas development with a portfolio exceeding 1.5 Tcf in net reserves, contingent, and prospective resources, spanning 18 fields and 24 exploration prospects.

• Recent 33rd Licensing Round success added six licenses covering ten blocks, increasing net 2C contingent resources by ~600 Bcf and net 2U prospective resources by over 500 Bcf.

• Average field size is 73 Bcf, with all assets close to existing infrastructure, supporting efficient development and monetization.

Project development and funding

• Phase 1 targets 301.5 Bcf 2P reserves at Anning and Somerville, with six production wells and peak output of ~140 MMscf/d.

• Fully funded for Phase 1 via a 20% project equity interest and an option for an additional 20% divestment for a free carry, securing over A$800 million in committed funding.

• Phase I infrastructure investment supports future phases, enabling monetization of contingent and prospective resources.

Asset and resource details

• Anning and Somerville fields hold 2P reserves of 145 Bcf and 156.5 Bcf gas, respectively, with additional condensate volumes.

• Phase II (Hodgkin & Lovelace) and Phase III (exploration prospects) add significant contingent and prospective resources, with ongoing appraisal and development planning.

• Exploration inventory includes 13 prospects, with geological chance of success averaging 43%.