Ann: STX: Perth Basin Strategy & Proposed Merger Update, page-2

Haha WGO board against the world now

Strike will try and screw BPT if they are successful

Strike has a high degree of flexibility to ensure that value driven outcomes are prioritised for Strike
shareholders. As such, if and whilst West Erregulla undergoes proposed changes to its joint venture
structure, Strike may look to accelerate its domestic gas production from its 100% owned South Erregulla
gas field whilst preserving residual feed gas and West Erregulla gas resources for the Project Haber
fertiliser development.

As at September 2022:
 Strike had a strong position on the WGO
register already with ~8% of votable shares.
 Known Strike shareholders owned ~15% of the
votable shares.
 Regal owns ~9% of the votable shares.
 Warrego’s founders and their associates only
have ~26% of the votable shares