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Corporate Overview 17th July2025 SEAAOC Conference Darwin Presentation 3 September 2025 ASX:BTL For personal use only
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2Beetaloo Energy Australia Limited This presentation has been prepared by Beetaloo Energy Australia Limited (“Beetaloo” or the “Company”). The information in this presentation is information of a general nature and is subject to change without notice. The information in this presentation does not purport to be complete, nor does it contain all of the information which would be required in a prospectus prepared in accordance with the requirements of the Corporations Act 2001 (Cth). It contains information in a summary form only and should be read in conjunction with Beetaloo’s other periodic disclosure announcements to the ASX available at www.asx.com.au. An investment in Beetaloo shares is subject to known and unknown risks, many of which are beyond the ability of Beetaloo to control or predict. These risks may include, for example, movements in oil and gas prices, a failure to acquire some or all of the targeted acreage, risks associated with the development and operation of the acreage, exchange rate fluctuations, an inability to obtain funding on acceptable terms or at all, loss of key personnel, an inability to obtain appropriate licences, permits and or/or other approvals, inaccuracies in resource estimates, share market risks and changes in general economic conditions. Such risks may affect actual and future results of Beetaloo and its shares. This presentation contains statements, opinions, projections, forecasts, and other material (“forward looking statements”). These statements can be identified by the use of words like ‘anticipate’, ‘believe’, ‘intend’, ‘estimate’, ‘expect’, ‘may’, ‘plan’, ‘project’, ‘forecast’, ‘will’, ‘should’, ‘could’, ‘seek’ and other similar expressions. Forward looking statements may be based on assumptions which may or may not prove to be correct. None of Beetaloo, its respective officers, employees,agents, advisers or any other person named in this presentation makes any representation as to the accuracy or likelihood of fulfilment of the forward looking statements or any of the assumptions upon which they are based and disclaim any obligation or undertaking to revise any forward looking statement, whether as a result of new information, future event or otherwise. Maps and diagrams contained in this presentation are provided to assist with the identification and description of Beetaloo’s lease holdings and Beetaloo’s intended targets and potential exploration areas within those leases. The maps and diagrams may not be drawn to scale and Beetaloo’s intended targets and exploration areas may change in the future. All financial information is in Australian dollars unless stated otherwise. The information contained in this presentation does not take into account the investment objectives, financial situation or particular needs of any recipient and is not financial product advice. Before making an investment decision, recipients of this presentation should consider their own needs and situation and, if necessary, seek independent professional advice. To the maximum extent permitted by law, Beetaloo and its respective officers, employees, agents and advisers give no warranty, representation or guarantee as to the accuracy, completeness or reliability of the information contained in this presentation. Further, none of Beetaloo nor its respective officers, employees, agents or advisers accept, to the extent permitted by law, responsibility for any loss, claim, damages, costs or expenses arising out of, or in connection with, the information contained in this presentation. Any recipient of this presentation should independently satisfy themselves as to the accuracy of all information contained herein. Disclaimer For personal use only
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3Beetaloo Energy Australia Limited CorporateSnapshot Capital Structure (29 Aug 25) BTL 12 Month Historic Share Price & Volume (29 Aug25) Top Shareholders Pangaea Resources 11.3% Sheffield Holdings (USA) 7.4% Elphinstone Group 6.9% Liberty Oilfield Services (USA) 3.9% BTL top 20 shareholders hold 58.8%, top 50 shareholders hold 70.5% Shares on issue1 1,237.8M Share price A$0.31 Market cap A$383.7M Debt2 A$19.8M Cash A$27.4M Enterprise value A$376.2M 1. Beetaloo has 29.0m Share Rights on issue to members of the managementteam and Board, 21.0m of which have performance hurdles tied to total shareholder return or service period thresholds. 2. Total availabledebt of A$65.0 million , comprising: (i) A$30.0 million revolvingR&D facility (drawn to $15.4m) ; (ii) A$5 million performance bonding facility (drawn to A$4.1 million), representinga contingentliability; and (iii) $30m Midstream InfrastructureFacility (undrawn). All the facilities are provided by Macquarie Bank. Beetaloo expects to receive an R&D Tax Offset of ~$14m in H22025, which will be applied to repayment of the R&D facility. For personal use only
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4Beetaloo Energy Australia Limited The WorldNeedsNew LNG Supply Shell LNG Outlook 2025 indicates structural LNG shortages from 20341 Increasing operational LNG supply shortage from 2025 Forecast LNG supply deficit from 2034 Increasing reliance on LNG in Asia and Europe 1. Shell LNG Outlook 2025, Feb 2025. For personal use only
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5Beetaloo Energy Australia Limited BeetalooStrategicallyLocatedNearAsianLNG Markets LNG Tanker Sailing Days to Tokyo Bay1 Australian domestic gas and Asian LNG indices trade at multiples of US Henry Hub prices Gas market/reference US$/GJ US Henry Hub2 3.38 Wallumbilla Hub (East Coast Australia)3 8.10 Wallumbilla premium to Henry Hub 4.72 Wallumbilla LNG netback4,5 10.19 1. Blomberg NEF, Beetaloo Energy 2. EIA July 2025 Henry Hub Natural Gas Spot Price 3. AEMO Wallumbilla Benchmark Price at 26/08/2025 4. ACCC LNG netback price series 18Aug25 5. “LNG netback price is a measure of an export parity price that a gas supplier can expect to receive for exporting its gas. It is calculated by taking the price that could be received for LNG and subtracting or ‘netting back’ the costs incurred by the supplier to convert the gas to LNG and ship it to the destination port” 4 For personal use only
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6Beetaloo Energy Australia Limited Expanding Connections to Market for Large Gas Volumes Access to Darwin and East Coast LNG processing and export facilities Ichthys LNG: multi train LNG facility Darwin LNG: single train LNG facility APLNG: multi train LNG facility GLNG: two train LNG facility QCLNG: multi train LNG facility APA Group & Territory Energy Link open access pipelines For personal use only
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7Beetaloo Energy Australia Limited Australian East Cost Gas Supply Deficit looming East Coast and Northern Territory gas supply shortfall in the near term Forecast East Coast Gas Supply Shortfall 2028 onwards 1 Forecast Northern Territory Gas Supply Shortfall from 2028 2 1. ACCC Gas Inquiry, Interim update on east coast gas market, June 2005, www.accc.gov.au 2. AEMO Gas Statement of Opportunities, March 2005, www.aemo.com.au For personal use only
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8Beetaloo Energy Australia Limited Beetaloo Energy is positioned to supply domestic & international gas markets Market Opportunity Unlocking the Potential of the Beetaloo Basin Globally Significant Gas Basin Beetaloo Basin is a globally significant basin, estimated to hold more than 200 TCF in–place1 Strategic Basin Ownership Beetaloo Energy holds 1.6 TCF (2C), >47 TCFe (2U)2 of dry, gas rich, LNG-quality natural gas Domestic Gas Sales Agreement Beetaloo Energy has secured a domestic gas sale agreement with Northern Territory government, ensuring local market access Pipeline Connectivity Beetaloo gas pipeline infrastructure connects to domestic markets and LNG export facilities Active Development 5 wells drilled and Carpentaria Pilot Project underway Carpentaria Gas Plant Funding Beetaloo Energy has secured the necessary funding to develop the Carpentaria Gas Plant Beetaloo Energy Australia Investment Case 1. Munson TJ, 2014. Petroleum geology and potential of the onshore Northern Territory, 2014. Northern Territory Geological Survey, Repot 22. 2. BTL announcement 29 May 23 Netherland, Sewell & Associates, Inc. Contingent and Prospective Resources, estimate of 1.06 PJ/BCF conversion by BTL Northern Territory Gas East Coast Gas Northern Territory Gas Northern Territory Gas East Coast Australia Gas Global LNG For personal use only
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9Beetaloo Energy Australia Limited 5 TCF gas pilot ready Carpentaria Project with >20 TCF Western Beetaloo resource Target Formation: • Velkerri Formation - Unconventional shale gas Ownership Interest: • Largest 100% net acreage holder within the Beetaloo Basin • All acreage 100% owned and operated • High Net Revenue Interest of ~85%1 vs typical US NRI ~75% Focus Area 1: Carpentaria Project (EP187) (5 TCF pilot ready) targeting first production in 2026 Focus Area 2: Western Beetaloo >20 TCF resource providing material drilling inventory Infrastructure: • Acreage is adjacent to existing pipeline, rail and road infrastructure to facilitate rapid commercialisation Strategic Location in the Beetaloo Basin 1. Net revenue interest (NRI) equals Working Interest (100%) net of 10% Northern Territory Government royalty (partially offset by statutory deductions), Traditional Owner royalty and private royalties For personal use only
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10Beetaloo Energy Australia Limited ThickestSectionof the StackedPlay Within Beetaloo Energy Permits • Beetaloo Energy’s project areas located across the thickest section of stacked Velkerri Shale reservoirs in the basin • Carpentaria Project has >300 m gross thickness of A, Intra A/B, B and C Shale reservoirs • Western Beetaloo Project has the thickest stacked B and C Shale in the Beetaloo Beetaloo Energy’s “stacked shale play” results in up to 4x increase in the net effective acres compared to the B Shale alone Combined Thickness of A, Intra A/B, B and C Velkerri Shales For personal use only
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11Beetaloo Energy Australia Limited StackedPlay ImprovesDevelopmentEconomics C Shale B Shale Intra A/B A Shale Marcellus 100 m 328 ft Single Reservoir Four Stacked Reservoirs Total Marcellus Thickness ~60 m Stacked shale play developments allow for: • More wells per pad • Improved development efficiencies and economics • Analogous to Permian Basin style development Stacked Play Development ExampleBeetaloo Energy’s four stacked shale reservoirs are 5x thicker than the prolific Marcellus Shale Carpentaria-4 Type Section SW Marcellus Section Total Net Thickness >300 m Multi-Zone Cube Development – Delaware Basin1 1. Devon Energy Cube Development: What, How, When and Why? November SPE BD Group Presentation, 28 November 2018 Gas Saturation 0 100% Gamma Ray Depth M (ft) (5000) (5500) (6000) 0 100% Gas Saturation (6200) (6000) (5800) (6400) Depth (ft)Gamma Ray For personal use only
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12Beetaloo Energy Australia Limited • Delivers higher energy content compared to dry gas (1 mcf ≈ 1.15 GJ vs 1.05 GJ) • Enables ~10% higher sales price per mcf of production Carpentaria Project Has High-Quality,Low CO2 Gas Beetaloo Energy’s low CO2 (<1%) and high ethane (~12%) is perfectly positioned to be blended with emerging Ichthys Gas supply to: • Reduce average CO2 content (lessen need for CO2 stripping and carbon, capture and storage) • Increase ethane content (attractive to Japanese energy market given high heating value required and lessen the requirement for ethane spiking of gas into plant or upon arrival in Japan) • Support Ichthys LNG back-fill and planned expansion to three trains by 20303 1. Upstream Article – Inpex steps to the staring line for Ichthys phase (March 2021) 2. Ichthys Gas Field Development Project -Draft Environmental Impact Statement (2008) – Chapter 4 p.164 3. INPEX commits to LNG expansion (2022) – www.territorygas.nt.gov.au Methane 83.0 % Ethane 12.2 % Carbon Dioxide - 0.9 % Propane+ 1.8 % Nitrogen 2.0 % Avg. Carpentaria-2H Gas Composition – Mole % Beetaloo Energy’s Carpentaria Project gas composition provides ~10% value uplift over dry gas Gas for Ichthys LNG in Darwin is supplied from the Brewster Member and the Plover Formations which comprise the Ichthys Gas Field • Production has mainly been from the Brewster Member; however, production is expected to move towards Plover and peak in the 2030s as Brewster is depleted1 Carpentaria Project gas has enhanced energy and value driven by its elevated ethane and low CO2 content which: Minimal to no H 2 S • Brewster: ~8% (CO2), ~11% (ethane) • Plover: ~17% (CO2), ~4% (ethane)2 For personal use only
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13Beetaloo Energy Australia Limited Accelerated Basin Wide Appraisal by Multiple Operators Four multi-horizontal well projects located throughout the basin Shenandoah Sth Pilot Project Santos 2026 Appraisal Project Carpentaria Pilot Project For personal use only
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14Beetaloo Energy Australia Limited The Beetaloo Basin is Progressing to Pilot Production 0 2,000 4,000 6,000 8,000 10,000 12,000 14,000 16,000 18,000 20,000 2015 2021 2022 2023 2024 2025 2026 Lateral Length [m] Pilot Production Wells Drilled Lateral Length Per Year – Combined Operators Appraisal – Proof of concept wells • The Beetaloo Basin has moved rapidly from horizontal appraisal wells (2021-2023) to the latest round of horizontal wells focused on pilot production (2024-2026) • This has coincided with a >3x increase in lateral length drilled per year • In 2024, the combined drilled lateral length per year exceeded 10,000 m for the first time • 2026 could see a combined drilled lateral length per year of more than 15,000 - 20,000 m The shift to pilot production highlights increasing confidence in the Beetaloo Basin Announced and proposed1 1. Santos CEO announced three well appraisal program in 2026 (2025 AEP Conference, Brisbane). Tamboran have an additional three well work program at the Shenandoah Pilot Project with two wells but up to three no earlier than CY2026 (TBN – DWE JV and Shareholder Agreement, May 2025 sourced from NYSE announcements) For personal use only
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15Beetaloo Energy Australia Limited Cost-Effective Approach to Appraisal • 2D-Seismic, multi-stage vertical and horizontal flow tests have delineated a large stacked play • Three horizontal wells hydraulically stimulated Carpentaria-2H and Carpentaria-3H production tested Carpentaria-5H production testing imminent • Four zones with a net effective area of >460,000 acres (~1,900 km2) • ~A$90m (~US$60m) invested to deliver >1,739 PJ (~1.5 TCF) Commercial rates achieved • Excellent flow rates, Carpentaria-2H normalised rate of 3.5 TJ/d per 1,000 m • High calorific value gas (1.15 TJ per MMCF) • C-5H flow rates expected ~September 2025 Gas resource and productivity now established to move into pilot production • More than 200 horizontal well locations delineated in the B Shale • ~600 additional locations across A, Intra A/B and C Shales The EP 187 CarpentariaPilot Project has Arrived Depth to B Shale 1. Total investment in EP187 to date is ~$166m of which ~$90m expenditure resulted in delineation of 2C resource of >1,739 PJ (1.6 TCF) demonstrating deliverability For personal use only
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16Beetaloo Energy Australia Limited Carpentaria-5H Hydraulic Stimulation C-5H is the longest horizontal shale well, and largest hydraulic stimulation executed in Australia Key Metrics: • Length: 2,955 metres (9,695 feet) • Stages: 67 stages executed • Fluid intensity : 52 bbl/ft avg • Proppant intensity : 2,295 lb/ft avg • Proppant per stage : 337,000 lbs avg Objectives Achieved: • Health and Safety: no recordable or reportable incidents • Pump rates: >100 bbl/minute average on multiple stages • Design: fully slickwater with various perforation and pump strategies • Stages Per Day: first 24-hour stimulation operation for Beetaloo Energy achieving >5 stages per day on multiple days • Logistics: successful automated conveyor-based wet-proppant delivery providing a pathway for future local sourcing For personal use only
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17Beetaloo Energy Australia Limited The CarpentariaPilotProject Targeting first gas production in 2026 Carpentaria-5H hydraulic stimulation operations Carpentaria Gas Plant in operation immediately prior to acquisition Carpentaria-2H flare Production Wells Carpentaria-2H, Carpentaria-3H and Carpentaria-5H • EMP’s fully approved for additional pilot wells Facility Purchased 42 TJ/d capacity Carpentaria Gas Plant • Installation of Carpentaria Gas Plant imminent Offtake T-piece inserted into the McArthur River Gas Pipeline • Pipeline compression to increase capacity of up to 25 TJ /d (23 mmcf/d) during the pilot phase For personal use only
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18Beetaloo Energy Australia Limited 10 YearBindingGas SalesAgreementwithNT Government Buyer: • Northern Territory Government (Aa3, stable) Volume / Term: • up to 25 TJ/d for 10 years (~75PJ total, net to Beetaloo) • an additional 10 TJ/d+ for up to 10 years at the option of the Buyer to be made available by Beetaloo Energy if production levels from the Carpentaria project exceed 100 TJ/d Pricing: • ex-field take-or-pay basis at competitive market gas prices, escalating at 100% of the Australian CPI Delivery: • McArthur River Gas pipeline (“MRP”) • a T-piece connection has been installed into the MRP at the proposed location of the Carpentaria Gas Plant Conditions Precedent: • customary conditions for an agreement of this nature including Beetaloo Energy reaching FID for the Carpentaria Pilot Project and receipt of regulatory approvals which are well advanced Carpentaria Gas Plant on location in Camden, NSW prior to relocation Foundation gas sales agreement with investment grade customer underwrites pilot economics For personal use only
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19Beetaloo Energy Australia Limited $65m BeetalooFinancingPackage Beetaloo Energy has credit facilities in place for Carpentaria Pilot Project • This financing package represents a continuation of a 15-year relationship between Beetaloo Energyand Macquarie Bank • Execution of the financing package follows the completion of an extensive competitive tender process of global oil & gas financers • Financing is be provided across three tranches: A$30 million R&D Facility will fund exploration, appraisal and development activities including Carpentaria-5H and construction of infield infrastructure representing an upsizing and maturity extension of existing A$2.25 million facility A$5 million Performance Bond Facility to meet Beetaloo Energy’s Northern Territory environmental bonding obligations New A$30 million Midstream Infrastructure Facility to finance refurbishment and construction of the Carpentaria Gas Plant and associated infrastructure. Repayment of this tranche will be via a tolling fee • This financing along with existing cash resources and funds raised under the recent Share Placement and SPP, will fund the fracture stimulation and flow testing of C-5H and the installation of the Carpentaria Gas Plant and associated in field infrastructure For personal use only
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20Beetaloo Energy Australia Limited Traditional Owners Consent to the Sale of Appraisal Gas • An on-country meeting between Beetaloo Energy and the Mambaliya Rrumburriya Wuyaliya Aboriginal Land trust covering EP 187 was conducted on 24th and 25th June 2025 • The meeting was arranged by the Northern Land Council in accordance with the Aboriginal Land Rights (Northern Territory) Act 1976 (Cth) (“the Act”) and the Exploration Deed between Beetaloo Energy subsidiary Imperial Oil & Gas Pty Limited and the Northern Land Council • At that meeting, the Traditional Owners consented to the sale of appraisal gas in accordance with Section 57AAA (5)(d) of the Petroleum Act 1984 (NT) This photo was taken and used with consent Landmark Agreement with Traditional Owners1 1. Beetaloo Energy Australia Limited ASX release 26 June 2025 “Traditional Owners Consent to the Sale of Appraisal Gas” For personal use only
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21Beetaloo Energy Australia Limited The Beetaloo EnergyValueProposition Phase 1 Carpentaria Pilot Project • Up to 25 TJ/d (24 mmcf/d) • Targeting first revenue in 2026 • Mature resource definition and type curves for larger scale development • Gas plant secured • Binding gas sales agreement with investment grade customer • Macquarie Bank funding package secured Phase 2 Domestic Gas Project • ~200TJ/d (~190 mmcf/d) to supply Australian east coast • Carpentaria ‘stacked play’ provides additional drilling inventory across ~460,000 net effective acres • ~2.6 million net effective acres of ‘running room’ across Western Beetaloo Phase 3 Full-Field Development - LNG • ~1 BCF per day to supply LNG export markets For personal use only
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22Beetaloo Energy Australia Limited 2025 is a Breakout Year for Beetaloo Energy Traditional Owner Approvals3 Recent Achievements Carpentaria-5H hydraulic stimulation completed2 • Construct surface facilities • Connect to McArthur River Pipeline Raised ~$35m in placement and share purchase plan1 • Commence Carpentaria Pilot Project gas sales Key Near Term Catalysts • Carpentaria-5H IP30 flow rate 1. BTL ASX release 13 June 2025 “Completion of SPP and Upsizing to $7 Million” 2. BTL ASX release 8 July 2025 “Completion of Carpentaria-5H Hydraulic Stimulation” 3. BTL ASX release 26 June 2025 “Traditional Owners Consent to the Sale of Appraisal Gas” For personal use only
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