Strike Energy (STX) AGM 2025 summary

Opening remarks and agenda

• AGM opened with acknowledgment of traditional landowners and a hybrid in-person/virtual format for shareholder participation.

• Quorum confirmed, directors and auditor introduced, and meeting agenda outlined, including Chair and MD addresses, Q&A, and formal business.

• Emphasis on powering progress for the energy transition and supporting Western Australia's shift away from coal.

Financial performance review

• Achieved record annual production: 9.3 PJe, up ~65%, and revenue of ~AUD 73 million, with total revenue up 59%.

• Average realised gas price was $7.32/GJ, down 2%, and total capital expenditure decreased by 26%.

• Cash balance as of 30 June 2025 was $41.1 million, up 6%, with available liquidity of $76.2 million.

• Balance sheet strengthened via AUD 217 million Macquarie financing and AUD 86 million Carnarvon Energy investment.

• Reserve write-downs and impairments noted, but confidence in asset portfolio remains.

Board and executive committee updates

• Board composition changes: Andrew Seaton departed, Will Barker joined as Carnarvon Energy representative.

• Leadership renewal with Peter Stokes as MD/CEO and Tim Cooper as CFO/Company Secretary.

• Directors' fees reduced by 20% in response to shareholder feedback.

• Board includes experienced industry leaders and a new Carnarvon Energy nominee following their 19.9% investment.

• Externally facilitated Board review planned for FY 2026 to assess skills, size, and governance.