Qpm Energy Limited · ASX:QPM

Qpm Energy — Merger or Acquisition (April 2023)

16 slides from Qpm Energy's merger presentation, Apr 5, 2023

1. Slide 1: Re-Energising Australia with Critical Battery Metals Production

   Re-Energising Australia with Critical Battery Metals Production Moranbah Project Acquisition Dr Stephen Grocott & David Wrench Moranbah Project Presentation | April 2023 | ASX:QPM | www.qpmetals.com.au

2. Slide 2: Disclaimer

   Disclaimer COMPANY DISCLAIMER: The information in this presentation is an overview and does not contain all information necessary for investment decisions. In making investment decisions in connection with any acquisition of securities, investors should rely on their own examination and consult thei

3. Slide 3: Acquisition of 100% of Moranbah Project

   Acquisition of 100% of Moranbah Project Significant Reserves & Resources  240 PJ 2P Reserves + 269 PJ 2C Resources independently certified  ~110 producing wells and associated gas gathering and water management infrastructure Mature Producing Asset  In production since 2004  Current production o

4. Slide 4: Strategic Rationale

   Strategic Rationale Security of Gas  TECH Project requires ~14 PJ / annum at full production – existing reserves and resources underpin Reserves long term production De-risking Gas Supply  Existing production and infrastructure capacity fast tracks delivery of gas to the TECH Project to ensure gas

5. Slide 5: Transaction Overview

   Transaction Overview The acquisition of Moranbah Project is transformational for QPM in securing its energy requirements Vendors  Subsidiaries of Arrow Energy (50%) and AGL (50%)  QPM Energy (“QPME”) will acquire 100% of the Moranbah Project assets Consideration  QPME will pay $5m to the vendors

6. Slide 6: Transaction Overview

   Transaction Overview Transaction Commentary  QPME believes it has been able to secure attractive pricing for the Moranbah Project because: o The asset is non-core to the vendors o QPM holds the key to unlocking the potential of the Moranbah Project with its baseload demand from the TECH Project o Q

7. Slide 7: Moranbah Project Location

   Moranbah Project Location RE-ENERGISING NICKEL PRODUCTION Page | 7

8. Slide 8: Moranbah Project Infrastructure

   Moranbah Project Infrastructure Illustrative Only – Not to Scale Townsville  Central gas processing facility connected to the Power Station Nodal Station 3 Gas supply from PL191, PL486 & NQGP which has 108 TJ per day (39 PJ per Gas supply from PL191, Compression: 20TJ/d Teviot Brook Mine PL196, PL4

9. Slide 9: QPME Carbon Abatement Strategy

   QPME Carbon Abatement Strategy Gathering Processing Gas Supply Transport Market Compression Upstream Midstream Energy Markets Southern Hub Dyno Nobel Moranbah Moranbah  Moranbah Project  Petroleum Leases Moranbah  5 coal mines Proc. + Comp.  Other Facility TECH Project NQGP Townsville Power Stat

10. Slide 10: Moranbah Project – Capturing Waste Coal Mine Gas

    Moranbah Project – Capturing Waste Coal Mine Gas  Moranbah Project is an operating example of capturing waste mine gas and using it in a productive way  Moranbah Project currently captures gas from: o Anglo American’s Grosvenor mine o Anglo American’s Teviot Brook mine o Anglo American’s Moranbah

11. Slide 11: Historical Gas Sales and Growth Opportunities

    Historical Gas Sales and Growth Opportunities Historical Gas Sales Gas Sales Growth Opportunities Gas Sales (PJ)  Improve operational efficiency of existing wells 14  Undertake commercial arrangements with regional coal mines to 12 12 capture additional waste gas 10.9 10.9 10.4 9.9 10.2  Drill ne

12. Slide 12: Moranbah Project Customers

    Moranbah Project Customers Customer Project Sales Contract Comments Dyno Nobel Ammonium Nitrate 7 PJ per annum expiring  Minimal utilisation of compressor / pipeline Plant (Moranbah) March 2026 infrastructure as the project is co-located  Gas is used to generate electricity for sale into Queenslan

13. Slide 13: Incitec Pivot / Dyno Nobel

    Incitec Pivot / Dyno Nobel QPM is in advanced negotiations with Incitec Pivot regarding a long term gas supply agreement and potential funding support to further develop the Moranbah Project Dyno Nobel - Moranbah Ammonium Nitrate Plant Principles of Discussion  IPL subsidiary Dyno Nobel owns the 

14. Slide 14: Ratch / Townsville Power Station Partnership

    Ratch / Townsville Power Station Partnership Moranbah Project has a Dispatch Agreement with TPS for exclusive use to take gas and generate electricity Townsville Power Station Capacity Rights Electrical Generation / Operational Hours  242MW power station consisting of 160MW Siemens turbine and Tota

15. Slide 15: Electricity Market Pricing

    Electricity Market Pricing Electricity Market 900 Daily Power Price Curve - QLD since 1 Jan 2022 Target operating  Coal + gas price caps have led to recent 800 window assuming reduction in electricity price (10 Dec 2022) 700 15TJ/day gas Price ($/MWh) 600 supply (10 hrs 500  Recent AEMO warning (F

16. Slide 16: Moranbah Project Reserves and Resources

    Moranbah Project Reserves and Resources Proved (1P) Proved + Probable (2P) Resources (2C) Petroleum Lease PJ PJ PJ PL191 121 188 192 PL196 9 10 32 PL223 28 32 13 PL224 10 11 32 Total 168 240 269 The estimated proved and probable reserves, evaluated as of 31 March 2022 contained within PLs 191, 196,

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