Earnings release
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Error! Unknown document property name. Period ending 30 September 2025 HIGHLIGHTS New Ventures o Philippines: Triangle has been awarded an onshore permit (SC-82) on the island of Luzon in the Philippines with a 100% interest. The permit contains the Nassiping -2 gas discovery (announced to the ASX 10 October 2025). o Philippines: Triangle has been awarded two offshore permits in the Sulu Sea (SC-80 &-81), as operator of a Joint Venture with a 37.5% interest in both permits. Permit SC -80 contains the Palendag -1 and Dabakan-1 gas discoveries (announced to the ASX 10 October 2025). o Triangle continues to pursue opportunities in Australia, Europe and Asia. L7 and EP 437 Exploration Activity o In late June both Strike and Echelon submitted notice s of withdrawal from the L7 and EP 437 JVs. o Triangle is considering its position under the existing Farmout and Joint Operating Agreements with respect to the withdrawal notices and will update our shareholders when further information is available. Cliff Head Oil Field o Agreement with Pilot Energy Ltd (ASX: PGY) to sell the Cliff Head facilities. Pilot is paying 100% of the ongoing costs of Cliff Head as it transitions to a Carbon Capture and Storage project. Key terms are detailed in the body of this report. UK o Triangle holds a 50% non -operated interest in UK licenses P2628 and P2650 which are undergoing evaluation. Athena Exploration, the operator of Permit P2628 has undertaken extensive work on the prospectivity of the licenses and their resources, resulting in an increase in Contingent Resources for the Cragganmore gas field as announced to the ASX on 18 Aug 2025. September Quarter Share Price Range $0.002 - $0.003 Market Capitalisation $6.57 million (at $0.003 per share as at 30 September 2025) Issued Capital (at 30 Sep 2025) 2.189 million Outstanding Shares 94 million Performance Rights 78 million Unlisted Options @$0.024 10 million Unlisted Options @$0.025 45 million Unlisted Options @$0.030 10 million Unlisted Options @$0.035 Cash (at 30 September 2025) $6.90 million Top 20 Shareholders (30 September 2025) 40.74% Board Gregory Hancock Non-Executive Chairman Conrad Todd Managing Director Michael Collins Non-Executive Director
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Triangle Energy (Global) Limited September 2025 Quarterly Activities Report 2 New Ventures Triangle continues to evaluate numerous new ventures opportunities, primarily in Southeast Asia, where the appetite for new hydrocarbon projects continues to increase in energy-hungry growing economies. Opportunities in other countries, such as Australia and in Europe, will also be reviewed if they have technical and commercial merit. Subsequent to the end of the quarter, Triangle has been awarded three permits (Service Contracts) in the Philippines (see ASX release 10 October 2025). SC-82 Onshore Cagayan Basin Service Contract -82 is a gas exploration and appraisal/development opportunity for the Company . T he block located onshore on the island of Luzon in the Philippines, some 250km from Manila (Figure 1). It is adjacent to the San Antonio gas field and PNOC’s Mangosteen discovery. Figure 1: SC-82 permit location In the north of SC-82, the unproduced Nassiping-2 gas discovery contains gas that could be produced to generate electricity into a nearby interconnector line (similar to the San Antonio gas field). The well was drilled in 1984 but not tested until 2012, some 28 years later and the test was abandoned due to well problems . Following the Company’s technical re-evaluation, there is potential to drill an appraisal well which could produce at commercial gas flow rates. This area will be a strong focus for Triangle who has a 100% interest in the permit and is operator. The immediate work program is to source and reprocess the seismic data over the permit.
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Triangle Energy (Global) Limited September 2025 Quarterly Activities Report 3 SC-80 & SC-81 Offshore Sandakan Basin (Sulu Sea) Service Contracts 80 and 81 are located offshore in the S andakan Basin part of the Sulu Sea in the BARMM1, Philippines close to the island of Borneo (Figure 2). Figure 2: SC-80 & 81 location The Permits contain two existing gas discoveries and numerous wells with hydrocarbon shows. They lie in one of the least explored areas of the prolific Circum- Borneo hydrocarbon province where hundreds of trillions of cubic feet of gas (TCF) and Billions of barrels of oil (Bbo) have been discovered (Figure 3). 1 Bangsamoro Administrative Region in Muslim Mindanao
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Triangle Energy (Global) Limited September 2025 Quarterly Activities Report 4 Figure 3: Location of SC-80 & 81 in the Circum-Borneo hydrocarbon province A seismic line (Figure 4) shows the two discoveries in SC -80, Dabakan-1 and Palendag-1 which contain 2C resources of 470 Bcf and 5MMbbl condensate (ASX release TEG 10 October 2025). Outboard of the discoveries and to the northeast is the large Halcon prospect. Figure 4: Seismic line across SC-80.
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Triangle Energy (Global) Limited September 2025 Quarterly Activities Report 5 The immediate work program is to reprocess the four 3D seismic surveys over the two permits. The Halcon prospect is defined on two 3D seismic surveys and is shown to be a very large turbidite fan , shown below (Figure 5), on the seismic processed for “sweetness” which indicates the presence of sandstone reservoirs. Figure 5: Halcon Prospect
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Triangle Energy (Global) Limited September 2025 Quarterly Activities Report 6 Mt Horner Production Licence L7 & Exploration Permit EP 437: Perth Basin Triangle is the owner of a 50% interest and the operator of both the L7 and EP 437 joint ventures (JV). The remaining 50% is shared by Strike Energy Limited (ASX: STX) and Echelon Resources Limited ( ASX: ECH) with each having a 25% interest. Both Strike and Echelon have indicated the ir intention to withdraw from the JV. Triangle is reviewing its position with respect to Strike and Echelon’s decision not to fulfill their farm-in agreement obligations to drill the third well in the JV. The Company considers the L7 permit to contain further prospectivity, with Triangle high-grading the MH -28 prospect (Figure 6). The Company will look to prepare the MH-28 prospect for drilling. The MH-28 prospect comprises a Dongara oil target , up-dip from good indications of oil in the MH -2 well, underlain by further prospectivity in the Irwin River Coal Measures and the Ki ngia reservoir. There is additional untested deeper gas prospectivity in a weathered basement wash play beneath the Kingia and High Cliff sandstones. Figure 6: MH-28 schematic section
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Triangle Energy (Global) Limited September 2025 Quarterly Activities Report 7 United Kingdom Triangle has a 50% interest in license P2628 in the UK containing the Cragganmore gas field as part of a Joint Venture with Athena Exploration. The operator recently re-calculated the Best Estimate Contingent Resources to be 683 Bcf of gas with Best Estimate Prospective Resources of 1.49 Tcf gas (ASX release TEG 18 August 2025). The JV has reduced expenditure on this permit, placing it in a care an d maintenance mode until the political conditions and sentiment towards oil and gas activity in the UK improve. Some progress has been made recently with the issuance of new guidelines on project emissions which will allow some existing fields to progress through development, such as the Rosebank Field. These new rules could apply to the Cragganmore Field. Triangle is keeping a close watch on the situation for any further regulatory changes that would allow the JV to actively pursue its strategy of bringing in partners to fund dr illing activity in this asset. Triangle has a 50% interest in permit P2650 in the Outer Moray Firth, Offshore UK as part of a Joint Venture with Orcadian Energy. The block has potential for shallow gas which is evidenced by the Direct Hydrocarbon Indicators (DHI’s) seen on the seismic lines over the prospects . The short-term work program comprises seismic reprocessing and a geological and geophysical re-evaluation. The JV has reduced expenditure on this permit, placing it in a care and maintenance mode until there is improved sentiment towards oil and gas activity in the UK that would allow the JV to progress the asset. In both UK assets, our respective JV partners, who operate the licences, are proceeding with low-cost technical work to enhance the value of the assets to potential third parties.
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Triangle Energy (Global) Limited September 2025 Quarterly Activities Report 8 Cliff Head Oil Field 78.75% Cliff Head CCS Project Joint Venture Triangle announced that the Sale and Purchase Deed for Cliff Head had been revised and finalised on 24 June 2025. Triangle has sold its interests in the onshore Cliff Head assets (the Arrowsmith Assets) to Pilot for a consideration of a $5.6 million secured promissory note with maturity of September 2026. The sale of the Arrowsmith Assets and the Secured Note are summarised below: • A Secured Promissory Note with a face value of $5.6 million, has been issued to Triangle. • Maturity date for the Secured Note is 30 September 2026, or the sale or disposal of a material interest (over 25%) of Pilot’s interest in the Cliff Head CCS project to a third party, whichever occurs first. • All amounts owing under the Secured Note and for the sale of sale of Triangle’s interests in the Arrowsmith Assets are to be paid on maturity of the Secured Note. • The Secured Note is interest bearing at 10% per annum accruing quarterly from 30 June 2025, with interest capitalised until maturity. • Security is provided to Triangle by way of general securities over the assets of Pilot and Royal Energy, and specific securities over Pilot’s shares in Royal Energy, Royal Energy’s shares in Triangle Energy Operations Pty Ltd (through which Pilot holds its 21.25% interest in the CHJV). The general securities will remain in effect for 12 months from completion of the sale, after which Triangle will retain the specific securities until the Secured Note is paid in full. • Pilot paid $167,000 on 28 August 2025 representing interest up to 30 June 2025, after which all interest will be capitalised. • Repayment in full on event of default, which includes non- payment by Pilot of Cliff Head operating costs, a Pilot insolvency event or non-payment of the interest. • In the event Pilot sells its Three Springs Solar Farm, 30% of the sale price will be paid to Triangle as a repayment of the outstanding balance of the Secured Note. Subsequent payments of $4 million cash when NOPTA issues a Greenhouse Gas Injection License (the next stage of the carbon storage CCS project) and up to $7.5 million in royalties from the CCS project.
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Triangle Energy (Global) Limited September 2025 Quarterly Activities Report 9 Contingent and Prospective Resources Triangle hold contingent resources in both the United Kingdom and the Philippines. It holds prospective resources in the UK and Australia and will be working on prospective resources for the Philippines Permits L7 and EP 437 As announced previously, the Company has developed an extensive portfolio of prospects and leads in permits L7 and EP 437. On 11 January 2024 Triangle issued the updated Prospective Resource estimates for the “Top 4” gas prospects (refer to Table 1 below). Triangle will pursue drilling a second well in the L7 permit, Triangle favours drilling the Mount Horner-2 Updip prospect, (now renamed MH-28). Triangle notes that recent oil discoveries in the Dongara reservoir in the nearby North Erregulla Deep and Lockyer Deep wells led to an acceleration of the evaluation of the oil potential in the L7 permit. Oil is now expected to be the most likely hydrocarbon in the Dongara reservoir and in the shallower Cattamarra sands which contain oil in the M ount Horner Oil Field. The combination of prospects within both the shallow Cattamarra and the mid- depth Dongara reservoirs has been calculated probabilistically for each prospect, then the prospects summed arithmetically, resulting in a range of Prospective Resources from 17 million barrels of oil (MMbbl) in the Low Estimate to 71 MMbbl for the High Estimate, with a Best Estimate of 35 MMbbl (gross 100%). Triangle considers these to be in the medium risk category and as such they have the potential to add significant value to the permits and to the Company.
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Triangle Energy (Global) Limited September 2025 Quarterly Activities Report 10 The drilling of the Becos -1 well has resulted in an update to the L7 Prospective Resource table. Originally issued on 11 January 2024, the updated resources for L7 and EP 437 are tabulated as follows: Permit L7 Gas Prospective Resources Gross 100% (Bcf) Gas Prospective Resources Net TEG 50% (Bcf) Low Best High Low Best High Mtn Bridge South 24 53 98 Mtn Bridge South 12 27 49 Huntswell Deep 30 61 115 Huntswell Deep 15 31 58 MH 28 (MH-2 Updip) 43 142 331 MH-28 (MH-2 Updip) 22 71 166 Total (arithmetic sum) 97 256 544 Total (arithmetic sum) 49 128 272 Oil Prospective Resources Gross 100% (MMbbl) Oil Prospective Resources Net TEG 50% (MMbbl) Best High Low Best High MH 28 (MH-2 Updip) 1.5 2.7 4.9 MH 28 (MH-2 Updip) 0.8 1.4 2.5 Longhorn 3.0 6.3 12.7 Longhorn 1.5 3.2 6.4 Hinkley South 0.6 1.2 2.2 Hinkley South 0.3 0.6 1.1 MH HW Deep 0.6 1.0 1.8 MH HW Deep 0.3 0.5 0.9 Pogona 3.7 6.9 12.8 Pogona 1.9 3.5 6.4 Pygmy 0.8 1.5 2.6 Pygmy 0.4 0.8 1.3 Bobtail 0.9 2 4.2 Bobtail 0.5 1.0 2.1 Mtn Bridge Sth 2.3 4.9 10.3 Mtn Bridge Sth 1.2 2.5 5.2 Horner W Buttress 1.8 3.6 7.1 Horner W Buttress 0.9 1.8 3.6 Total (arithmetic sum) 15.2 30.1 57.2 Total (arithmetic sum) 7.7 15.4 28.8 Permit EP 437 Oil Prospective Resources Gross 100% (MMbbl) Oil Prospective Resources Net TEG 50% (MMbbl) Low Best High Low Best High Wye Knot 0.5 2.0 7.0 Wye Knot 0.3 1.0 4.0 Table 1: Prospective Resources of Triangle’s L7 and EP 437 exploration portfolio UK Resources Resources for Permit P2628 were detailed in an ASX release on 18 August 2025. Contingent resources have been calculated for the Cragganmore gas field with Prospective resources calculated for the seven nearby prospects, see tables 2 & 3 below. Gas Contingent Resources Gross 100% (Bcf) Gas Contingent Resources Net TEG 50% (Bcf) Low Best High Low Best High Cragganmore 499 683 929 Cragganmore 250 342 465 Table 2: Contingent Resources of Triangle’s UK permit P2628
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Triangle Energy (Global) Limited September 2025 Quarterly Activities Report 11 Gas Prospective Resources Gross 100% (Bcf) Gas Prospective Resources Net TEG 50% (Bcf) Low Best High Low Best High Cragganmore Downdip 62 109 189 Cragganmore Downdip 31 55 95 Lamba 477 644 867 Lamba 239 322 434 Benriach 301 418 578 Benriach 151 209 289 Linkwood 110 161 232 Linkwood 55 81 116 Glenfarclas 21 31 45 Glenfarclas 11 16 23 Benrinnies 58 82 116 Benrinnies 29 41 58 Bow Castle 29 45 71 Bow Castle 15 23 36 Total (arithmetic sum) 1058 1490 2098 Total (arithmetic sum) 529 745 1049 Table 3: Prospective Resources of Triangle’s UK permit P2628 Philippine Resources Resources for Philippines Permit SC-80 were detailed in an ASX release on 10 October 2025. Contingent resources have been calculated for the Palendag and Dabakan gas fields, see tables 3 & 4 below. Prospective resources will be calculated as part of the work program for the permits and will be released when complete. Gas Contingent Resources Gross 100% (Bcf) Gas Contingent Resources Net TEG 37.5% (Bcf) Low Best High Low Best High Palendag 50 229 720 Palendag 19 86 270 Dabakan 131 241 599 Dabakan 49 90 225 Total (arithmetic sum) 181 470 1319 Total (arithmetic sum) 68 176 494 Table 4: Contingent Gas Resources of Triangle’s Philippines Permit SC-80 Oil Contingent Resources Gross 100% (MMbbl) Oil Contingent Resources Net TEG 37.5% (MMbbl) Low Best High Low Best High Palendag 0.7 2 8.5 Palendag 0.3 0.8 3.2 Dabakan 1 5 20 Dabakan 0.4 1.9 3.2 Total (arithmetic sum) 1.7 7 28.5 Total (arithmetic sum) .6 2.6 10.7 Table 4: Contingent Oil Resources of Triangle’s Philippines Pemit SC-80 NB: The L7 resources were first released on 11 January 2024. They have been modified by removing the Booth and Becos Prospective Resources post drilling of the Booth-1 and Becos-1 wells. Apart from that change, there is no new information that materially affects the information included in the relevant announcement and all material assumptions and technical parameters underpinning these unrisked estimates continue to apply and have not materially changed. NB: The estimated quantities of petroleum that may potentially be recovered by the application of a future development project(s) relate to undiscovered accumulations. These estimates have both a risk of discovery and a risk of development. Further exploration appraisal and evaluation are required to determine the existence of a significant quantity of potentially recoverable hydrocarbons.
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Triangle Energy (Global) Limited September 2025 Quarterly Activities Report 12 Notes Regarding Contingent and Prospective Resources 1. The Company prepares its Contingent Resources and Prospective Resources in accordance with the definitions and guidelines in the Society of Petroleum Engineers (SPE) 2018 Petroleum Resources Management System (PRMS). 2. Triangle holds a 50% interest in L7 (R1) and EP 437 (Perth Basin) and 37.5% in SC-80 and SC-81(Sulu Sea, Philippines) 3. The estimates of Contingent and Prospective Resources reported are stated both as Gross; attributed to 100% joint venture interest and Net; attributed to Triangle’s participating interest in the licences. 4. The Prospective Resources in L7 and EP 437 were estimated using the probabilistic method. Qualified Petroleum Reserves and Resources Evaluator Statement The information contained in this report regarding the Triangle Energy Reserves and Resources is based on, and fairly represe nts, information and supporting documentation reviewed by Dr Douglas Gillies who is a full -time employee of Triangle Energy (Global ) Ltd holding the position of Subsurface Manager. He holds a Bachelor of Science (Hons) and a PhD (Edinburgh) in G eology, is a member of the Society of Petroleum Engineers (SPE) and Petroleum Exploration Society of Australia (PESA) He is a qualified resources estimator in accordance with ASX L isting Rule 5.41 and has consented to the inclusion of this information in the form and context in which it appears.
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Triangle Energy (Global) Limited September 2025 Quarterly Activities Report 13 CORPORATE Environment, Social and Governance The Company is committed to the minimisation of environmental and social impacts resulting from its operations. The Board is very mindful of its environmental and social responsibilities as a corporate citizen. The Company is in full compliance with all the environmental legislations, regulations and industry standards. The Company has developed an Environmental and Social Risk Register applicable for the whole Group. The aim is to identify the Company’s potential environmental and social risks and determine which of the identified risks may present as material risks to the Company. The register indicates the likelihood and severity of the risks and assigns a corresponding mitigating control. The formulated response is provided with a timeline to achieve and a continuous monitoring and improvements to be implemented thereafter. The r isk register is a current document that is maintained and frequently updated by the Board and a subcommittee to ensure that there is a current understanding of potential material risks and how the risks are being managed. In preparing the Environmental and Social Risk Register, the following potential material risks were identified: Climate change – the Company is aware of the risks that changing climactic conditions presents to its business. An Emergency Management Plan is in place which reflects changing climatic conditions. Environmental impact – possible impact to the environment may occur during the course of its operations. The Company has in place a range of controls, including preventive maintenance, inspection and training programs as well as auditing processes. Community – the Company values stakeholders in the area it operates. Controls are in place to minimise potential impacts to the fisheries and tourism industries. Cultural heritage – the Company is aware of the importance of managing relationships with Traditional Owners along with mitigating the risk of potential disturbance to sites and objects of heritage significance. The Company is proactively engaging with all the relevant stakeholders. Occupational Health and Safety The Company has an excellent safety record of 3,874 days of no Lost Time Incidents up to 30 September 2025 and focuses on safety awareness and safe work processes especially on-site. Occupational health and safety performance is continually monitored. The Company works closely with the National Offshore Petroleum Safety and Environmental Management Authority (NOPSEMA) guidelines and the Department of Energy, Mines, Industry and Resources (DEMIRS) to monitor and approve safety and environmental practices. The Company’s operations are subject to environmental and other regulations. The Company has a policy of engaging appropriately experienced contractors and consultants to advise on and ensure compliance with environmental regulations in respect of its operational activ ities. The Company monitors compliance with relevant legislation on a continuous basis and maintained its excellent operating record during the year with zero environment reportable incidents. Human Capital Management The Company values the contribution of its personnel in the attainment of business strategy and continuity. In addition to the compliance of the laws protecting employee welfare, the Company has provided benefits to its staff which acknowledges their contribution to the success of the Company. Short -term and long-term variable remuneration are assessed annually and measured against Key Performance Indicators set by the Remuneration and Nomination Committee. The Company has a Remuneration and Nomination Committee which is separate and independent from the management of the Company. It is responsible for the determination of the remuneration policy of the directors and key management and review of the structure and criteria for assessing employee performance and remuneration. It is also responsible for assessing the compensation and benefits strategy to ensure that the Company continues to attract and maintain the best talents in the market to maximise shareholder value.
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Triangle Energy (Global) Limited September 2025 Quarterly Activities Report 14 Capital and Management Expenditure At 30 September 2025, Triangle had a cash balance of $6.90 million. During the quarter, the Company made the following payments: • Production expenditure: Nil . ( all operating expenditures of the CHJV were paid by Pilot Energy as part of the agreement to divest interest in Cliff Head). • Exploration and evaluation expenditure: the Company paid $287K mainly expended on drilling the Becos-1 well in EP 437; • Staff cost: Payments to staff of $451K; and • Administration and corporate: other general and administration expenses of $ 318K incurred by the Company in other areas of the business such as finalising the agreement for sale of Cliff Head assets to Pilot Energy. As at the end of the quarter, t he Company held a 50% equity interest in Triangle Energy (Operations) Pty Ltd. This investment is equity accounted for in the Company’s financial statements. Payments to Related Parties of the Company and its Associates During the quarter ending 30 September 2025, the Company paid $147K to related parties of the entity and their associates. The payment is broken down as follows: 1. Payments to executive director of $113K and; 2. Payments to non-executive directors of $35K. Shareholder Analysis At 30 September 2025, the Company had 2,368 shareholders and 2,189,234,027 shares on issue. The Top 20 shareholders held 40.74% of the total issued capital. Information in relation to ASX Listing Rule 5.4.3 At 30 September 2025, the Company held: • 78.75% participating interest in WA-31-L in the Perth Basin, Western Australia; • 50% participating interest in Production Licence L7(R1) , Perth Basin, Western Australia (NB This is to increase to 100% following withdrawal of Strike Energy and Echelon Resources); • 50% participating interest in Exploration Permit 437, Perth Basin, Western Australia ; (NB This is to increase to 100% following withdrawal of Strike Energy and Echelon Resources); • 50% participating interest in Permit P2628 in the UK; and • 50% participating interest in Permit P2650 in the UK. The Company did not acquire or dispose of any other tenements during the quarter. Subsequent to the end of the quarter, the Company was awarded SC-80, SC-81 and SC-82 in the Philippines. Authorised for Release by: Conrad Todd Managing Director ENDS General Shareholder Enquiries: info@triangleenergy.com.au
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Triangle Energy (Global) Limited September 2025 Quarterly Activities Report 15 Notes Regarding Reserves, Contingent and Prospective Resources 1. The Company prepares its Reserves, Contingent Resources and Prospective Resources in accordance with the definitions and guidelines in the S ociety of Petroleum Engineers (SPE) 2018 Petroleum Resources Management System (PRMS). 2. Triangle holds a 50% interest in L7 (R1) and EP 437 and a 78.75% interest in the Cliff Head production licence WA-31-L 3. The estimates of Prospective Resources reported are stated both as Gross; attributed to 100% joint venture interest and Net; attributed to Triangle’s participating interest in the licences. 4. The Prospective Resources for oil lie within EP 437 and L7, while the Prospective Resources for gas lie within permit L7. 5. The estimates of Prospective Resources in L7 and EP 437 are reported as at 11 January 2024. 6. The Prospective Resources in L7 and EP 437 were estimated using the probabilistic method. Qualified Petroleum Reserves and Resources Evaluator Statement The information contained in this report regarding the Triangle Energy Reserves and Resources is based on, and fairly represents, information and supporting documentation reviewed by Dr Douglas Gillies who is a full -time employee of Triangle Energy (Global ) Ltd holding the position of Subsurface Manager. He holds a Bachelor of Science (Hons) and a PhD (Edinburgh) in Geology, is a member of the Society of Petroleum Engineers (SPE) and Petroleum Exploration Society of Australia (PESA) He is a qualified resources estimator in accordance with ASX listing rule 5.41 and has consented to the inclusion of this information in the form and context in which it appears. About Triangle Energy (Global) Ltd Triangle Energy (Global) Ltd is an ASX-listed (ASX:TEG) energy explorer based in Perth, Western Australia. The Company has a 78.75% interest in the Cliff Head Oil Field. Triangle also has a 50% share of the Mt Horner L7 production licence and the adjacent EP 437 exploration license, both located in the Perth Basin. In the UK, Triangle has a 50% interest in P2628 licence comprising four blocks containing the Cragganmore gas field and licence P2650 comprising 9 blocks in the Outer Moray Firth. The Company will include its interests in the Philippines in the next Quarterly Report. Triangle continues to assess acquisition prospects to expand its portfolio of assets.
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Rule 5.5 ASX Listing Rules Appendix 5B (17/07/20) Page 1 + See chapter 19 of the ASX Listing Rules for defined terms. Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report Name of entity Triangle Energy (Global) Ltd ABN Quarter ended (“current quarter”) 52 110 411 428 30 September 2025 Consolidated statement of cash flows Current quarter $A’000 Year to date (3 months) $A’000 1. Cash flows from operating activities - - 1.1 Receipts from customers 1.2 Payments for - - (a) exploration & evaluation (b) development - - (c) production - - (d) staff costs (451) (451) (e) administration and corporate costs (318) (318) 1.3 Dividends received (see note 3) - - 1.4 Interest received 227 227 1.5 Interest and other costs of finance paid - - 1.6 Income taxes paid - - 1.7 Government grants and tax incentives - - 1.8 Other (Reimbursement of OPEX) 112 112 1.9 Net cash from / (used in) operating activities (430) (430) 2. Cash flows from investing activities - - 2.1 Payments to acquire or for: (a) entities (b) tenements - - (c) property, plant and equipment - - (d) exploration & evaluation (287) (287) (e) investments - - (f) other non-current assets - -
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Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report ASX Listing Rules Appendix 5B (17/07/20) Page 2 + See chapter 19 of the ASX Listing Rules for defined terms. Consolidated statement of cash flows Current quarter $A’000 Year to date (3 months) $A’000 2.2 Proceeds from the disposal of: - - (a) entities (b) tenements - - (c) property, plant and equipment - - (d) investments - - (e) other non-current assets - - 2.3 Cash flows from loans to other entities - - 2.4 Dividends received (see note 3) - - 2.5 Other (receipt from sale of shares) - - Other (loan to associates) - - Other (loan repayment from associates) - - Other (receipt of deposit - rehabilitation work) - - 2.6 Net cash from / (used in) investing activities (287) (287) 3. Cash flows from financing activities - - 3.1 Proceeds from issues of equity securities (excluding convertible debt securities) 3.2 Proceeds from issue of convertible debt securities - - 3.3 Proceeds from exercise of options - - 3.4 Transaction costs related to issues of equity securities or convertible debt securities - - 3.5 Proceeds from borrowings - - 3.6 Repayment of borrowings - - 3.7 Transaction costs related to loans and borrowings - - 3.8 Dividends paid - - 3.9 Other (provide details if material) - - 3.10 Net cash from / (used in) financing activities - - 4. Net increase / (decrease) in cash and cash equivalents for the period 4.1 Cash and cash equivalents at beginning of period 7,616 7,616 4.2 Net cash from / (used in) operating activities (item 1.9 above) (430) (430)
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Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report ASX Listing Rules Appendix 5B (17/07/20) Page 3 + See chapter 19 of the ASX Listing Rules for defined terms. Consolidated statement of cash flows Current quarter $A’000 Year to date (3 months) $A’000 4.3 Net cash from / (used in) investing activities (item 2.6 above) (287) (287) 4.4 Net cash from / (used in) financing activities (item 3.10 above) - - 4.5 Effect of movement in exchange rates on cash held - - 4.6 Cash and cash equivalents at end of period 6,899 6,899 5. Reconciliation of cash and cash equivalents at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts Current quarter $A’000 Previous quarter $A’000 5.1 Bank balances 6,641 7,197 5.2 Call deposits - - 5.3 Bank overdrafts - - 5.4 Other (joint venture cash) 258 419 5.5 Cash and cash equivalents at end of quarter (should equal item 4.6 above) 6,899 7,616 6. Payments to related parties of the entity and their associates Current quarter $A'000 6.1 Aggregate amount of payments to related parties and their associates included in item 1 147 6.2 Aggregate amount of payments to related parties and their associates included in item 2 Note: if any amounts are shown in items 6.1 or 6.2, your quarterly activity report must include a description of, and an explanation for, such payments.
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Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report ASX Listing Rules Appendix 5B (17/07/20) Page 4 + See chapter 19 of the ASX Listing Rules for defined terms. 7. Financing facilities Note: the term “facility’ includes all forms of financing arrangements available to the entity. Add notes as necessary for an understanding of the sources of finance available to the entity. Total facility amount at quarter end $A’000 Amount drawn at quarter end $A’000 7.1 Loan facilities - - 7.2 Credit standby arrangements - - 7.3 Other (please specify) - - 7.4 Total financing facilities - - 7.5 Unused financing facilities available at quarter end - 7.6 Include in the box below a description of each facility above, including the lender, interest rate, maturity date and whether it is secured or unsecured. If any additional financing facilities have been entered into or are proposed to be entered into after quarter end, include a note providing details of those facilities as well. 8. Estimated cash available for future operating activities $A’000 8.1 Net cash from / (used in) operating activities (item 1.9) (496) 8.2 (Payments for exploration & evaluation classified as investing activities) (item 2.1(d)) (1,720) 8.3 Total relevant outgoings (item 8.1 + item 8.2) (2,216) 8.4 Cash and cash equivalents at quarter end (item 4.6) 7,616 8.5 Unused finance facilities available at quarter end (item 7.5) - 8.6 Total available funding (item 8.4 + item 8.5) 7,616 8.7 Estimated quarters of funding available (item 8.6 divided by item 8.3) 3.44 Note: if the entity has reported positive relevant outgoings (ie a net cash inflow) in item 8.3, answer item 8.7 as “N/A”. Otherwise, a figure for the estimated quarters of funding available must be included in item 8.7. 8.8 If item 8.7 is less than 2 quarters, please provide answers to the following questions: 8.8.1 Does the entity expect that it will continue to have the current level of net operating cash flows for the time being and, if not, why not? Answer: N.A. 8.8.2 Has the entity taken any steps, or does it propose to take any steps, to raise further cash to fund its operations and, if so, what are those steps and how likely does it believe that they will be successful? Answer: N.A.
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Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report ASX Listing Rules Appendix 5B (17/07/20) Page 5 + See chapter 19 of the ASX Listing Rules for defined terms. 8.8.3 Does the entity expect to be able to continue its operations and to meet its business objectives and, if so, on what basis? Answer: N.A. Note: where item 8.7 is less than 2 quarters, all of questions 8.8.1, 8.8.2 and 8.8.3 above must be answered. Compliance statement 1 This statement has been prepared in accordance with accounting standards and policies which comply with Listing Rule 19.11A. 2 This statement gives a true and fair view of the matters disclosed. Date: 28 October 2025 Authorised by: By the board of Triangle Energy (Global) Limited (Name of body or officer authorising release – see note 4) Notes 1. This quarterly cash flow report and the accompanying activity report provide a basis for informing the market about the entity’s activities for the past quarter , how they have been financed and the effect this has had on its cash position. An entity that wishes to disclose additional information over and above the minimum required under the Listing Rules is encouraged to do so. 2. If this quarterly cash flow report has been prepared in accordance with Australian Accounting Standards, the definitions in, and provisions of, AASB 6: Exploration for and Evaluation of Mineral Resources and AASB 107: Statement of Cash Flows apply to this report. If this quarterly cash flow report has been prepared in accordance with other accounting standards agreed by ASX pursuant to Listing Rule 19.11A, the corresponding equivalent standards apply to this report. 3. Dividends received may be classified either as cash flows from operating activities or cash flows from investing activities, depending on the accounting policy of the entity. 4. If this report has been authorised for release to the market by your board of directors, you can insert here: “By the board”. If it has been authorised for release to the market by a committee of your board of directors, you can insert here: “By the [name of board committee – eg Audit and Risk Committee] ”. If it has been authorised for release to the market by a disclosure committee, you can insert here: “By the Disclosure Committee”. 5. If this report has been authorised for release to the market by your board of directors and you wish to hold yourself out as complying with recommendation 4.2 of the ASX Corporate Governance Council’s Corporate Governance Principles and Recommendations, the board should have received a declaration from its CEO and CFO that, in their opinion, the financial records of the entity have been properly maintained, that this report complies with the appropriate accounting standards and gives a true and fair view of the cash flows of the entity, and that their opinion has been formed on the basis of a sound system of risk management and internal control which is operating effectively.