Slide 1: Company Update
For personal use only Company Update 3 March 2026 ASX:GAS
Slide 2: Disclaimer
Disclaimer Information about Contingent Resource Estimates This presentation (Presentation) has been prepared by State Gas Limited (ACN 617 322 488) (State The Contingent Resource estimates for the Reid’s Dome and Rougemont Gas Projects (State Gas 100%) Gas). The Presentation and information contain
Slide 3: Disclaimer: Competent Persons Statement - Reserves
Disclaimer Competent Persons Statement - Reserves The information in this presentation which rates to Gas Reserves for the Rolleston West Project (ATP 2062) is based on, and fairly represents, information and supporting documentation prepared by Mr John G. Hattner, Sr Vice President, and Mr Joseph M
Slide 4: Substantial natural gas assets in the right place
1. Substantial natural gas assets in the right place • 2630 km2 of combined acreage • Maiden 30PJ^ 2P Reserve for Rolleston West Project For personal use only • 3P expansion zone with a further 14PJ^ of high potential • 505PJ* of 2C resource, targeting the highly prospective Bandanna coal sequence •
Slide 5: Proven reserves + substantial expansion potential
2. Proven reserves + substantial expansion potential Rolleston West – Maiden 2P Reserve • Maiden 2P gas reserve of 30 PJ^ independently certified for the Rolleston West Project For personal use only Gross Reserves (PJ’s Net to State Gas) Year last Asset Acreage amended (km2) • Establishes a commerci
Slide 6: Rolleston West – A new generation gas project
3. Rolleston West – A new generation gas project • The Rolleston West Project (ATP 2062) 100% owned by State Gas Limited For personal use only • The tenement (1,414 square kilometres) is located in the Southern Bowen ROUGEMONT-3 Basin, in close proximity to other proposed and currently producing coa
Slide 7: Rolleston West - Current project status
4. Rolleston West - Current project status • 1 dual lateral well system (Rougemont 3) • 4 vertical wells (Rougemont 1, 2, 5 and 6) For personal use only • Buried gathering system – Approximately 4km • 10TJ/day – 10 year life pipeline supported gas project, with no domestic restrictions • Multiple vi
Slide 8: Rolleston West - project development plan
5. Rolleston West - project development plan Rolleston West – Pipeline Supported Gas Project For personal use only Evaluate financing alternatives Field Development, Infrastructure and • Identification of project partners Final Financial close Environmental • Infrastructure funding studies Studies s
Slide 9: HDNG – alternative fuel technology solution
6. HDNG – alternative fuel technology solution • High density natural gas (“HDNG”) – an immediately available alternative to diesel 1 2 • HDNG Pilot Plant - 1.5TJ/day of compressed natural gas For personal use only • The HDNG Facility is modular and can be efficiently expanded and relocated to suppo
Slide 10: Scale of Diesel Displacement Opportunities
7. Scale of Diesel Displacement Opportunities +$30 Bn^ of diesel sales Total Addressable Diesel Fuel Domestic For personal use only Market TAM • Total diesel consumption conservatively 30 First billion litres per annum, at $1.40/L net of • All sources of diesell fuel consumption, customer commercial
Slide 11: PL231 – Immediate production potential
8. PL231 – Immediate production potential • The Reid’s Dome Gas Project (PL 231) is within the Bowen For personal use only Basin on the apex of the Springsure-Serocold Anticline • 15 wells have been drilled in PL-231 • Identified more than 30 m of net coal, with gas contents averaging a very high 13
Slide 12: Opportunity for an integrated gas precinct
9. Opportunity for an integrated gas precinct • Substantial synergies between PL231 For personal use only and Rolleston West • High quality conventional gas within PL231 can be commercialised using our now proven HDNG technology • A range of connection/integration strategies which can accelerate pro
Slide 13: Governance and capability
10. Governance and capability Position Experience Corporate information Philip St Baker Extensive experience in the energy sector, resources and (Non-Executive governance. 2014 Ernst & Young Queensland Entrepreneur for Chairman and Major Listed Companies. Former Managing Director of NOVONIX For pers
Slide 14: Next steps / Contact
For personal use only Next Action Support steps Learn more about State Gas: www.stategas.com www.asx.com.au/markets/company/gas www.linkedin.com/company/state-gas-ltd Doug McAlpine Contact the Company: Managing Director +61439557400 14