Pilot Energy Limited · ASX:PGY
Pilot Energy — Shareholder Meeting (February 2026)
25 slides from Pilot Energy's shareholder meeting presentation, Feb 24, 2026
Slide 1: 2026 AGM MD Presentation
For personal use only 2026 AGM MD Presentation | 24 February ASX:PGY 1
Slide 2: Compliance Statements
Compliance Statements 2 Disclaimer This investor presentation has been prepared by Pilot Energy Limited ABN 86 115 229 984 (Pilot or the Company). For personal use only Any material used in this presentation is only an overview and summary of certain data selected by the management of Pilot. The pre
Slide 3: Investment Highlights
Investment Highlights 3 For personal use only World-Class project, First mover advantage in WA clear strategy and derisked Carbon Storage (CCS) and development pathway Direct Air Capture (DAC) with global and domestic tailwinds Experienced Management Existing infrastructure to deliver objectives und
Slide 4: Corporate Snapshot
Corporate Snapshot 4 PGY Shareholder Analysis For personal use only Corporate & Institutional 79% 9% 9% 3% Greg Columbus Brad Lingo Alex Sundich Natalie Wallace Non-Executive Chairman Managing Director Non-Executive Director Non-Executive Director Retail Board & 8 Rivers 30+ years experience deliver
Slide 5: Strategic WA Asset Portfolio
Strategic WA 5 Asset Portfolio Consolidated Perth Basin footprint covering diversified energy For personal use only infrastructure-rich region ▸ Energy Infrastructure Cliff Head – Offshore/onshore pipelines, storage, terminal, power generation & transmission facilities Arrowsmith - multi-staged modu
Slide 6: Recent Developments & Upcoming Milestones
Recent Developments & Upcoming Milestones 6 Progressing multiple work streams to drive shareholder value For personal use only Carbon Storage Data Centre Renewables Three Springs Solar+BESS Project joint development with SN Energy Australia’s first Direct Air Capture Dongara data centre with K
Slide 7: Existing infrastructure provides the foundation
Existing infrastructure provides the foundation 7 Cliff Head / Dongara plant site provides all the essentials for a high value/high growth clean business For personal use only Power Water Gas Communications Carbon storage ASX:PGY
Slide 8: Power Generation
Power Generation 8 Existing power generation enables near term revenue generation For personal use only ▸ Existing under-utilized gas-fired power generation ▸ Existing natural gas pipeline infrastructure capable of firm supply for up to 45MW base load ▸ Significant power generation expansion potenti
Slide 9: Carbon Capture & Storage: Global and Domestic Tailwinds
Carbon Capture & Storage 9 Global and Domestic Level Tailwinds For personal use only Global momentum in deployment of Carbon Capture and Storage (CCS) is accelerating behind carbon neutrality targets 1,300Mt CO2 A$39 - A$173 Supportive per annum per tonne Local Policy Projected global demand for Car
Slide 10: Cliff Head Carbon Storage Project: World-Scale Project
Cliff Head Carbon Storage Project 10 World-Scale Project ▸ Recognised as a leading Australian Carbon Storage Project For personal use only ▸ 72Mt of CO2 storage in Stage 1; scalable for further expansion ▸ Annual injection capacity will place Cliff Head in global top 10 ▸ Scale and timing to deliver
Slide 11: Leading Australia's Offshore CCS
Cliff Head Carbon Storage Project 11 Leading Australia’s Offshore CCS For personal use only ▸ WA’s only offshore carbon ▸ Declaration of storage project with Stage Storage Formation 1 Commonwealth granted in 2024 approval Advanced Permitting ▸ Injection Licence ▸ Without existing Application underwa
Slide 12: WA Government CCUS Action Plan quote
12 For personal use only Western Australia is well placed to become a world leader in carbon capture, utilisation and storage (CCUS), leveraging our existing infrastructure, highly skilled workforce, and suitable geological formations.” Carbon capture utilisation and storage: Action Plan* WA Governm
Slide 13: Dongara Data Centre JV
Dongara Data Centre JV 13 Partnership with Kala Data to jointly develop a data centre at Cliff Head plant facility For personal use only Multi-stage data centre • Targeting near term positive cash flow to support the transition of Cliff Head to carbon storage • Leverages Pilot’s existing surplus gas
Slide 14: Dongara Data Centre JV
Dongara Data Centre JV 14 Existing power generation and modular installation drives WA Data Centres – Ranked by Power rapid multi-staged data centre delivery For personal use only “The initial 1 MW modular data centre, with capacity to expand to 4 MW in 2026 and potentially up to 30 MW across our Ar
Slide 15: Google Data Centre + Carbon Capture & Storage
Google Data Centre + Carbon Capture & Storage 15 “Google’s new, first-of-a-kind agreement … unlocking a critical technology pathway to enable a clean, affordable, reliable energy future”* For personal use only “ Google will buy most of the power it generates, helping get this new, baseload power sou
Slide 16: Three Springs Solar+BESS Project
Three Springs Solar+BESS Project 16 Advanced stage with joint development and divestment optionality For personal use only ▸ 376MW Three Springs Solar Project is DA-approved 132kV transmission ▸ Binding Heads of Agreement (HoA) with SN Energy for joint development of the Hybrid Solar+BESS project at
Slide 17: Ammonia: Global and Domestic Tailwinds
Ammonia 17 Global and Domestic Level Tailwinds For personal use only Global demand for low-carbon ammonia is accelerating as energy systems decarbonise; driven by the clean fuel transition, international shipping, and fertiliser sector transformation. 700Mt NH3 US$600 - $1000 Supportive per annum pe
Slide 18: Ammonia: A practical, carbon-free energy carrier
Ammonia 18 A practical, carbon-free For personal use only energy carrier ▸ Efficient Bulk Energy Transport Ammonia as a hydrogen carrier enables 1.8x more hydrogen per volume to be shipped than liquid H₂, making it ideal for long-distance transport. ‣ Global Infrastructure Ready Leveraging existing
Slide 19: Low-Cost, Low Carbon Blue Ammonia
Low-Cost, Low Carbon Blue Ammonia 19 Proven ammonia production technology combined with CCS Potential source of long-term, delivers clean cost-competitive, low carbon ammonia production economical low carbon ammonia supply For personal use only A unique opportunity ▸ Proven technology ▸ Established
Slide 20: Gas: Large drill-ready gas prospect
Gas 20 Large drill-ready gas prospect Resource scale For personal use only • Multi-prospect, multi-play permit within proven hydrocarbon fairways • Ready-to-drill Leander Prospect with 1.1 TCF Prospective Gas Resource • Further 0.9 TCF gas opportunities in same fairway (Harrier, Hawk, Warbler) • Add
Slide 21: Fast-track, Low CAPEX development potential
Fast-track, Low CAPEX development potential 21 Commercially attractive development matching market demand ▸ First gas possible in 2028 to coincide with increased demand For personal use only ▸ LNG export potential for 85% (permit is in Commonwealth waters) ▸ PRRT credits in WA-481-P for 3 wells and
Slide 22: Fast Track Development Strategy
Conceptual development 22 Fast Track Development Strategy For personal use only • Drill Leander Prospect on 2D mid-CY 2027 • Sanction Phase 1 development by 2028/29 to meet forecast gas market supply shortage • Execute low risk 4-well development targeting initial 150 TJ/day production • Conduct 3D
Slide 23: Financing Initiatives
Financing Initiatives 23 $5.9 million multi-year PRRT refund revolving For personal use only debt facility available through FY2027 Petroleum Resources Rent Tax (PRRT) refund Funds 40% of ongoing ADRE expenditure as incurred debt financing with Substantially reduces upfront funding burden Finport Fi
Slide 24: Why Invest? A Unique Value Proposition
Why Invest? 24 A Unique Value Proposition For personal use only World-Class project, First mover advantage in WA Experienced Management 01 clear strategy and derisked 02 Carbon Storage (CCS) with global 03 to deliver objectives development pathway and domestic sector tailwinds Existing infrastructur
Slide 25: Contact
For personal use only Contact Pilot Energy Limited Suite 2, Ground Floor 100 Havelock Street West Perth WA 6005 www.pilotenergy.com.au Brad Lingo Managing Director +61 (0) 408 601 080 blingo@pilotenergy.com.au 25