Ann: Investee Advent Issues Rig Tender, page-2

INVESTEE ADVENT ENERGY PEP11 -BALEEN- ISSUANCE OF RIG TENDER

BPH Energy Limited (ASX: BPH) (BPH or the Company) is pleased to advise that a Call for
Tender for the provision of drilling rig services for the Baleen-1 exploration well was issued
today. The tender has been issued to multiple drilling contractors who have semi-submersible
drilling units in the region.

The Baleen-1 well is planned to be drilled in 125m of water approximately 26 km offshore and
approximately 30 km SSW of the City of Newcastle. The drilling of the well is subject to
regulatory approvals and is expected to take around 40 days to reach total depth.

The Baleen-1 well has two objectives: (i) a gas target and (ii) evaluation for Carbon Capture
Storage, subject to funding.

When the well has reached total depth and been fully evaluated, the well will be plugged and
abandoned in line with pre-drill planning as an exploration well, and the well head and
associated equipment well be removed from the seabed.