Ann: 2024 AGM Chair Address and CEO Presentation & Address, page-20

Make Buru Great Again: Summary of AGM reveal

All in all, good update - orderly transition to investable company

Four (maybe five) active farmout process: is deal heavy with timelines

Suspect look back in 1 year with this as turning point - usual story – a sell at .10, can’t get enough at $1.00

Ungani: good deal for early CF

exclusive discussions with target 2Q24

goal is to change operating model, restart production, more wells to backfill

Rafael Shallow: funded soon but need to be realistic

Deal by July 2Q24

Success case to help fund Rafael appraisal and possibly contribute to development

Development is Ungani facility clone, truck to Broome / Derby

Rafael: responsible Phase 1 then go big

Extra work/incremental due diligence needed to support “the level of investment required …for a larger scale development”

revised resource delayed now 3Q 24

farmout process reengage later in year 4Q24

Feels like focus Phase 1 (to be on line late 2027) for early development /cash flow and to develop social license, followed or side by side with larger phase 2

2H: funding only, no gift IPO

On the ground 3Q for WA and less specific H2 for SA

In discussion on commercial constructs to make 2H self funding

Sounds like cash injection – not clear if cash for BRU, or for 2H or maybe both

Read is only maybe IPO – like 50/50 (is best way to get value recognition)

But unlikely to get shares dividend out (Would make sense though as would provide liquidity and very positive SH story to attract investors)

Yilgarn craton is helium exploration until laws allow H2

Adelaide Super basin is both and storage as well

Exploration: need regional resource and 5^th Farm out process

Focus on Rafael lookalikes

Working to Mature P&L inventory ahead of farmout reengagement (++ exploration wells?)

Going to get RAF 2C what about regional WTF

Should have regional 2C and 5th farm out process

Corporate: growth potential

Expand organic “agencies “ and inorganic – vague

Could mean m&a or asset buys to expand footprint / diversify strategy???

need to get SP up for that to work lol

need better IR / do CMD

Corporate: new chair

need new chair / board refresh that can….

Connect with capital markets

Stare down the rabid greenies/ hystericals

Deal with larger industry players

Biggest legacy change would be end of capital raise into every rally which kills the stock and keeps serious punters away