Amplitude Energy Limited · ASX:AEL
Amplitude Energy — Investor Presentation (September 2025)
43 slides from Amplitude Energy's investor presentation, Sep 23, 2025
Slide 1: Leveraging existing infrastructure to accelerate growth
Leveraging existing infrastructure to accelerate growth 23 September 2025
Slide 2: Important Notice and Disclaimer
Important Notice and Disclaimer You must read the following carefully before continuing or making use of the information contained in this presentation. By attending an investor presentation or briefing, or accepting, accessing or reviewing this presentation, you acknowledge and agree to the terms s
Slide 3: Important Notice and Disclaimer
Important Notice and Disclaimer Investment risk An investment in Amplitude Energy shares is subject to investment and other known and unknown risks, some of which are beyond the control of Amplitude Energy. None of Amplitude Energy, any of its related bodies corporate or any other person or organisa
Slide 4: Leveraging Amplitude Energy's existing infrastructure to accelerate growth
Leveraging Amplitude Energy’s existing infrastructure to accelerate growth The ECSP+ and other accretive growth opportunities, primarily Patricia Baleen, are expected to leverage Amplitude Energy’s existing infrastructure to enhance production and peak supply capacity across the Otway and Gippsland
Slide 5: The ECSP+ maximises the value of Amplitude Energy's existing asset base
The ECSP+ maximises the value of Amplitude Energy’s existing asset base Bringing Nestor forward leverages the existing ECSP programme and available ullage at the AGP – upon success it unlocks additional, sought-after supply and enables Amplitude Energy to meet strong demand from its east coast gas c
Slide 6: 1. Amplitude Energy overview
1. Amplitude Energy overview 6
Slide 7: Amplitude Energy overview
Amplitude Energy overview Amplitude Energy provides investors with a growing exposure to Australia’s tight east coast domestic gas market Integrated operator across Gippsland & Otway Basins Amplitude Energy Investment Proposition Gippsland Basin Pure play exposure to Australia’s largest and most sup
Slide 8: Urgent demand for new domestic gas supply
Urgent demand for new domestic gas supply Local gas production is a cheaper and lower emissions1 option than LNG imports, with both required to help address the expected supply gap in Southeastern Australia Australian Southern States contracted gas prices, A$/GJ Southern States AEMO supply forecast,
Slide 9: Amplitude Energy has built a track record of performance
Amplitude Energy has built a track record of performance Increased production and operational leverage has generated substantial margin expansion Production, TJe/d Production expenses1, $ per GJe produced 73.0 $5.00 $3.97 $4.00 $2.80 $2.60 $3.00 62.1 $2.33 59.8 $2.00 55.5 $1.00 $- FY22 FY23 FY24 FY2
Slide 10: Delivering against business priorities and upcoming milestones
Delivering against business priorities and upcoming milestones Proven track-record of delivering business priorities with future growth driven by delivery of the ECSP+ and potential Patricia Baleen restart Business priorities and upcoming milestones Decommissioning of BMG wells safely Successful c
Slide 11: 2. Accelerating Amplitude Energy's growth opportunities
2. Accelerating Amplitude Energy’s growth opportunities 11
Slide 12: Nestor expansion opportunity for the ECSP
Nestor expansion opportunity for the ECSP On success, Nestor unlocks the ability to leverage available ullage at the AGP, extending its production profile and enabling increased supply during peak demand periods Nestor prospect summary Amplitude Energy Otway Basin tenement Nestor is located in the
Slide 13: High exploration success in Amplitude Energy's Offshore Otway Basin acreage
High exploration success in Amplitude Energy’s Offshore Otway Basin acreage 94% historical success rate for seismic amplitude-supported prospects in Otway Basin licences Waarre Formation seismic amplitude map – AEL Offshore Otway fields ECSP+ prospects identified using modern seismic interpretatio
Slide 14: Nestor is a low risk opportunity 6km from pipeline tie-in
Nestor is a low risk opportunity 6km from pipeline tie-in 64 Bcf mean (32 Bcf net to AEL)1 unrisked prospective resource with an 81%2 probability of discovering gas Nestor-1 A B Located ~10km east of the Casino gas field and 6km southeast of the CHN pipeline tie-in point at Juliet A Nestor (WaC) R
Slide 15: Nestor production opportunity
Nestor production opportunity Nestor creates opportunity to pursue the highest value outcome for ECSP+ production, based on market demand On success, Nestor allows for increased production at the AGP Nestor expected to increase & extend ECSP+ production prior to Elanora1 over and above the existin
Slide 16: ECSP+ is a brownfield expansion unlocking value of existing infrastructure
ECSP+ is a brownfield expansion unlocking value of existing infrastructure Nestor is a value accretive expansion that capitalises on the Transocean Equinox’s rig availability – increasing speed to market Offshore Otway Basin infrastructure overview Low-risk 4-well exploration & development program
Slide 17: Efficient extension to approved ECSP drilling campaign
Efficient extension to approved ECSP drilling campaign The ECSP+ via Nestor leverages Amplitude Energy’s existing Otway Basin program – maximising shareholder value Illustrative net cost estimate profile ($m)1 Chart Title ECSP Wells ECSP Subsea, Plant, etc The Equity Raising puts Amplitude Energy
Slide 18: Patricia Baleen restart
Patricia Baleen restart Equity Raising provides greater funding certainty to pursue the Patricia Baleen restart, which is a unique low-cost opportunity to unlock supply flexibility for the east coast market while adding value to Amplitude Energy’s existing portfolio Gippsland Basin infrastructure ov
Slide 19: 3. Equity Raising overview
3. Equity Raising overview 19
Slide 20: Equity Raising overview
Equity Raising overview Amplitude Energy is pleased to announce the launch of an Equity Raising (“Equity Raising”) composed of a: fully underwritten Entitlement Offer of $100 million through a 1-for-6.351 pro rata accelerated non-renounceable entitlement offer (“Entitlement Offer”), comprising:
Slide 21: Equity Raising timetable
Equity Raising timetable Event Date Trading halted and announcement of Equity Raising Tue, 23 September 2025 Placement and Institutional Entitlement Offer opens Tue, 23 September 2025 Placement and Institutional Entitlement Offer closes Tue, 23 September 2025 Trading halt lifted and shares recommenc
Slide 22: September 2025 trading update
September 2025 trading update Trading reflects continued operational momentum Q1 FY26 and FY26 YTD total group production of 5.3 PJe as at 10 September1 Q1 FY26 and FY26 YTD group production run-rate of 73.5 TJe/day as at 10 September1 1 Production No change to FY26 production guidance of 69 –
Slide 23: Sources and uses
Sources and uses With addition of Nestor, ECSP+ targets >360 Bcf of gross P50 unrisked Sources $m prospective resource (>180 Bcf net to AEL)1 Equity Raising 150 Nestor has the highest probability of gas discovery of any Otway Basin prospect not already targeted by ECSP Sources total 150 99.7% probab
Slide 24: 4. Risks
4. Risks 24
Slide 25: Amplitude Energy business risks
Amplitude Energy business risks This section discusses some of the key risks associated with any investment in Amplitude Energy, which may affect the value of Amplitude Energy shares. The risks set out below are not necessarily listed in order of importance and do not constitute an exhaustive list o
Slide 26: Amplitude Energy business risks – continued
Amplitude Energy business risks – continued Risk Description Operations There are a number of risks associated with operating in the oil and gas industry, including fire, explosions, blow outs, pipe failures, abnormally pressured formations, asset loss, production disruption, personnel safety and en
Slide 27: Amplitude Energy business risks – continued
Amplitude Energy business risks – continued Risk Description Commodity Prices and Future value, growth and financial conditions of Amplitude Energy are dependent upon the prevailing prices for oil and gas. Prices for oil and gas are subject to fluctuations and are affected by numerous factors beyond
Slide 28: Amplitude Energy business risks – continued
Amplitude Energy business risks – continued Risk Description Climate and Sustainability Amplitude Energy recognises its activities may be impacted by climate change and the energy transition. Risks are identified and managed in two broad categories: physical climate change risks relating to acute an
Slide 29: Amplitude Energy business risks – continued
Amplitude Energy business risks – continued Risk Description Positive cash generation Amplitude Energy must undertake significant capital expenditure in order to fund field, exploration, appraisal, development and restoration requirements. and access to capital While Amplitude Energy generates posit
Slide 30: Amplitude Energy business risks – continued
Amplitude Energy business risks – continued Risk Description Debt financing Amplitude Energy has debt facilities comprising a reserves based lending facility with a current legal facility limit of up to $480 million (which was drawn to approx. $305 million as at 30 June 2025), and a working capital
Slide 31: General risks
General risks Risk Description General market and share There are general risks associated with investments in equity capital such as Amplitude Energy shares. The trading price of Amplitude Energy shares may fluctuate with movements in equity capital markets in Australia and internationally. This ma
Slide 32: New Shares and equity raise risk
New Shares and equity raise risk Risk Description Underwriting Amplitude Energy has entered into an underwriting agreement with the Underwriters under which the Underwriters have agreed to fully underwrite the Equity Raising (the "Underwriting Agreement"), subject to the terms and conditions of the
Slide 33: New Shares and equity raise risk – continued
New Shares and equity raise risk – continued Risk Description Underwriting – continued • Amplitude Energy or a material subsidiary (being a subsidiary, as defined in the Corporations Act, of Amplitude Energy which at the date of the underwriting agreement represents in excess of 5% of the consolidat
Slide 34: New Shares and equity raise risk – continued
New Shares and equity raise risk – continued Risk Description Underwriting – continued The ability of an Underwriter to terminate the underwriting agreement in respect of the events set out above, in some cases, is limited to circumstances where, in the reasonable opinion of the Underwriter: • the e
Slide 35: 5. Supporting information
5. Supporting information 35
Slide 36: Abbreviations
Abbreviations $ Australian dollars OGPP Orbost Gas Processing Plant Amplitude Energy, the PEL Petroleum Exploration Licence Amplitude Energy Limited ABN 93 096 170 295 Company, or AEL PJ Petajoules AGP Athena Gas Plant PJe Petajoules-equivalent ASX Australian Securities Exchange SIB Stay in business
Slide 37: Pro forma net debt and liquidity
Pro forma net debt and liquidity Amplitude Energy Pro forma $ million Transaction impacts 30 June 2025 30 June 2025 Cash and cash equivalents 62 1461 208 Debt drawn 305 - 305 Net cash/(debt) (243) 146 (97) Undrawn debt facilities 170 - 170 Unutilised working capital facility 16 - 16 Available liquid
Slide 38: Elanora/Isabella: largest potential resource booking
Elanora/Isabella: largest potential resource booking Targeting large unrisked prospective resource with a 90% probability of discovering gas2 Twin exploration well to test Waarre Formation reservoir targets at Elanora and Isabella prospects from a single surface location Both prospects are large
Slide 39: Juliet: low risk, directly under existing pipeline
Juliet: low risk, directly under existing pipeline 49 Bcf gross mean (24 Bcf net to AEL) unrisked prospective resource with an 84% probability of discovering gas2 Juliet-1 A B Waarre C Amplitude 4km east of Casino gas field in ~63 metres High water depth Casino (WaC) Juliet (WaC) Located directl
Slide 40: Annie: 2019 discovered resource
Annie: 2019 discovered resource 65 PJ gross (32 PJ net to AEL) 2C discovered gas resource, 10km from existing pipeline tie-in point Annie-2 Annie-1 A B Waarre C Amplitude Annie-1 (2019) discovered a 70 metre thick, High high-quality gas-bearing Waarre C reservoir Annie (WaC) Seismic amplitudes d
Slide 41: Otway exploration opportunities
Otway exploration opportunities High quality, low risk prospects in amplitude-supported play Otway Basin, Top Waarre Formation Prospective Resource Summary1 AEL Low (P90) Best (P50) Mean High (P10) Prospect Permit Pg4 equity (%) Gross2 Net3 Gross2 Net3 Gross2 Net3 Gross2 Net3 Elanora VIC/L24 50 56.1
Slide 42: 6. International Offer Restrictions
6. International Offer Restrictions 42
Slide 43: International Offer Restrictions
International Offer Restrictions This document does not constitute an offer of new ordinary shares (“New Shares”) of the Company in any jurisdiction in which it would be unlawful. In particular, this document may not be distributed to any person, and the New Shares may not be offered or sold, in any
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