23 June 2023NUENERGY GRANTED TAX EXEMPTION FACILITIES FROM THE...

23 June 2023

NUENERGY GRANTED TAX EXEMPTION FACILITIES FROM THE INDONESIAN MINISTRY
OF FINANCE
NuEnergy Gas Limited (“NuEnergy” ASX: NGY). NuEnergy is pleased to announce that its wholly-owned
subsidiaries, Dart Energy (Tanjung Enim) Pte.Ltd (“DETE”) and Dart Energy (Muralim) Pte.Ltd. (“DEMU”), both
with Gross Split Production Sharing Contracts (“Gross Split PSC”) have respectively on 22 June 2023, received
letters dated 21 June 2023 from the Indonesian Ministry of Finance, on the award of tax exemption facilities
(“Tax Exemption Facilities”) from the Indonesian Ministry of Finance to DETE and DEMU.

The following Tax Exemption Facilities for both DETE and DEMU, made in accordance with Regulation Number
67/PMK.03/2020 (PMK-67) issued by the Indonesian Ministry of Finance regarding tax incentives for oil and gas
companies holding production sharing contracts under the Gross Split PSC, continue throughout the exploration
period until the start of commercial production:

a) value-added taxes and luxury-goods sales tax (if any) on the following purchases intended for oil and
gas operational purposes are treated as not-collected:
- taxable goods and/or services; and
- taxable offshore intangible goods and/or services utilised within the Indonesian Customs Area.
b) 100% reduction of Land and Building Tax (Pajak Bumi dan Bangunan (LBT));

which shall be effective from the respective dates of the Gross Split PSCs and shall expire on the earlier of the
below events:
i) the expiry of the respective Gross Split PSC;
ii) the termination of the respective Gross Split PSC prior to commercial production; or
iii) upon commencement of commercial production.

The dates of the Gross Split PSC of DETE and DEMU are 17 June 2021 and 8 May 2019 respectively.

Bernard Kong, Chairman of the Board commented “The Tax Exemption Facilities are timely and will provide
financial incentive to NuEnergy with respect to its ongoing exploration/development activities and facilitate
NuEnergy’s move towards commercial production as well as progress the coal bed methane industry of
Indonesia”.