Ann: Presentation for FY2024 Results and Update, page-5

Probably the best quarterly since the NGP was announced. My takeaways:

• Confirmed $10/GJ GSA agreement at $6/GJ operating margin - so we're locked in at ~$25m pa EBITDAX in 2025 on 4PJ
• PV drilling could bring another 2PJ pa after Mereenie infills - that's another $12m pa EBITDAX at GSA prices, pending PV FID
• Advanced farm out discussions - read this as extending the conversation with NZO on post Mereenie / PV drilling
• Mt Kitty firs target - drilling within 9 months from farm out agreement - LD targeting an EOY announcement on this
• Risk of NT shortages with DLNG or Inpex supply issues - LD highlighted JV partner discussions on PV drilling
• $9m reserved for capital return - to be released at a undetermined date??? Can't see how that helps anyone...

In any case - we're going drilling!
GLTAH