Pilot Energy Limited · ASX:PGY
Pilot Energy — Investor Presentation (April 2025)
27 slides from Pilot Energy's investor presentation, Apr 14, 2025
Slide 1: Corporate Presentation: Pathway to Value Creation
For personal use only Corporate Presentation Pathway to Value Creation April 2025 Future Cliff Head Carbon Storage Project Site - Cliff Head A Platform looking back to onshore Arrowsmith Stabilisation Plant
Slide 2: Compliance Statements
Compliance Statements Disclaimer Competent Persons Statement This investor presentation has been prepared by Pilot Energy Limited ABN 86 115 229 984 (Pilot or the Company). This announcement contains information on conventional petroleum and CO2 Storage resources which is based on and fairly For per
Slide 3: Corporate Snapshot
Corporate Snapshot PGY Shareholder Analysis Board and Management 8 Rivers, 3% Board For personal use only Management, 9% Corporate Greg Columbus Brad Lingo Alex Sundich Natalie Wallace and institutional , Non-Executive Chairman Managing Director Non-Executive Director Non-Executive Director Retail 9
Slide 4: Pathways to Value Creation
Pathways to Value Creation Focussed plan to deliver shareholder value For personal use only Board renewal Consolidate ownership of Cliff Head JV (revised agreement with TEG) Korean Consortium signed agreement which delivers binding FEED in Q2 2025 Material gas resource upgrade to 1.1 TCF off
Slide 5: Pilot has Consolidated Strategic Assets in Perth Basin, WA
Pilot has Consolidated Strategic Assets in Perth Basin, WA Material holdings in Carbon Storage, Oil & Gas exploration, energy infrastructure and renewable developments Carbon Storage For personal use only • Cliff Head Carbon Storage – only approved CO2 storage formation • GP-12-AP – Significant addi
Slide 6: Cliff Head is cornerstone to value creation
Cliff Head is cornerstone to value creation Transform existing assets to deliver an integrated world scale and low-cost CCS and clean ammonia export business Cornerstone Cliff Head Assets For personal use only 6 Corporate Presentation | April 2025
Slide 7: Pilot's Carbon Storage Project has a Unique Value Proposition
Pilot’s Carbon Storage Project has a Unique Value Proposition • Secured “Stage 1” regulatory approval from Commonwealth Government, being Declaration of Storage Formation5 • Permitting of competing projects, particularly onshore, is expected to become more difficult For personal use only • Consortiu
Slide 8: Value of existing facilities underpins the Carbon Storage Project
Value of existing facilities underpins the Carbon Storage Project For personal use only Original installed facilities Replacement cost of existing development and investment cost facilities in a “greenfield” base is approximately AUD 396 development estimated at ~USD million (2006)9 827 million10 Re
Slide 9: Carbon Storage and Ammonia underpinned by Korean JV
Carbon Storage and Ammonia underpinned by Korean JV • A consortium of Korea’s largest energy companies (K-Consortium) has formed for the For personal use only purpose of acquiring stakes in both the Cliff Head Carbon storage and the Arrowsmith Blue Ammonia project as well as off-take of blue ammonia
Slide 10: Cliff Head Carbon Storage Project
Cliff Head Carbon Storage Project Recognised as a leading Australian Carbon Storage Project15 For personal use only WA-481-P G-12-AP WA-31-L 10 Corporate Presentation | April 2025
Slide 11: Carbon Storage in WA - the market
Carbon Storage in WA - the market Mid West/South West emitters need to spend A$800 million to A$1.5 billion through 2030 to cover CO2 emissions reductions Major Industrial CO2 Emitters – Mid West/South West WA • Current Baseline CO2 emissions in Mid West/South West WA of ~15 mmtpa16 For personal use
Slide 12: Global CCS Facilities In Operation
Global CCS Facilities In Operation Cliff Head CCS will be a Global Top 10 Carbon Storage Project based on Annual Injection Capacity22 Petrobras Santos Basin Pre-Salt Oil Field CCS (Brazil) 10.6 Shute Creek Gas Processing Plant (United States) 7.0 For personal use only Pilot Cliff Head Carbon Storage
Slide 13: Carbon Storage Project – FEED to FID
Carbon Storage Project – FEED to FID Commencing FEED for Carbon Storage Project in Q3 CY2025 to reach FID in CY2027 CLIFF HEAD CARBON STORAGE PROJECT VALUE OF EXISTING FACILITIES CLIFF HEAD CARBON STORAGE PROJECT For personal use only CONVERSION COST BREAKDOWN Project Development & Seismic 7% Carbon
Slide 14: Blue Ammonia - Overview
Blue Ammonia - Overview Unique integration of CCS, renewables and proprietary technology enables production of low-cost Clean Ammonia Hydrogen Production For personal use only Micro Clean Power Grid • Proven technology • High hydrogen production efficiency while requiring minimal capital costs compa
Slide 15: The Road Ahead – Carbon Storage & Blue Ammonia
The Road Ahead – Carbon Storage & Blue Ammonia For personal use only Regulatory Secure Partners/ Complete Cliff Head Complete Project FID Cliff Head Carbon Approvals Customers acquisition Project FEED Storage transition Declaration of Storage Finalising Joint Conclude during Pre-FEED completed Carbo
Slide 16: Short Term Strategy Generating Revenue from Existing Assets
Short Term Strategy Generating Revenue from Existing Assets • Arrowsmith operation has a proven track-record of oil terminal storage, transport and export operations For personal use only • Advancing options to use Arrowsmith Plant to provide oil & condensate 30,000bbls condensate/oil heated storage
Slide 17: Additional Pathway to Value Creation – WA-481P
Additional Pathway to Value Creation – WA-481P Pilot has 100% ownership of the largest exploration permit in the North Perth Basin • 8,605km2 permit located in shallow waters covering proven oil & gas play fairways • Geological hypothesis: equivalent to North Perth Basin with same plays, prospects a
Slide 18: Perth Basin Gas – recent transactions
Perth Basin Gas – recent transactions High exploration success with multiple large gas discoveries has set high valuations across the basin For personal use only North Perth Basin gas discoveries drive over AUD 2.4 billion in transactions since 2018 18 Corporate Presentation | April 2025
Slide 19: Additional Pathway to Value Creation – Three Springs Solar
Additional Pathway to Value Creation – Three Springs Solar • 376MW Three Springs Solar Project is DA-approved For personal use only • October 2024 received a non-binding, conditional cash offer of A$11.5 million to purchase 100% of the project40 • Additional near-term value is achievable through: •
Slide 20: Pilot Energy Investment Highlights
Pilot Energy Investment Highlights • Pilot owns strategic energy assets in Mid West region of WA, within the Perth Basin, with multiple pathways to creating value For personal use only • Key focus remains development of the Mid West Clean Energy Project in partnership with the Korean Consortium • Cl
Slide 21: ASX Suspension
ASX Suspension • Pilot requested a Trading Halt on 19th December 2024, went into For personal use only voluntary suspension on 23rd December 2024 and remained in suspension since42 • The immediate catalyst for this was failure to settle a $1.8m Convertible Note financing43 • Since that time, the Com
Slide 22: Revised Cliff Head acquisition terms
Revised Cliff Head acquisition terms44 • Acquisition of Cliff Head JV assets acquired through vendor financed $5.63 million note from Pilot (“Note”) • For personal use only Title to Cliff Head JV assets transferred to Pilot upon: • Delivery of Note, • Completion of minimum $5 equity raise and • Pilo
Slide 23: Capitalisation Table
Capitalisation Table Convertible Note Conversion Maturity Ordinary Shares Exercise Ordinary Shares For personal use only Value Price Date Underlying Option Expiry Date Price Underlying $2,900,000* $0.02 21/06/2025 145,000,000 PGYO Listed Options $0.03 25/08/2025 210,412,875 $3,200,000* $0.03 19/02/2
Slide 24: Endnotes
Endnotes Note # Page Refer Pilot Energy ASX release for further information on Cliff Head Carbon Storage Resources (ASX:PGY 24 December 2024) 1 3 Refer Pilot Energy ASX release for further information on the prospective resources with WA-481-P (ASX:PGY 1 April 2025) 2 3 Refer Pilot Energy ASX releas
Slide 25: Endnotes
Endnotes Note # Page Information was sourced from www.statista.com/statistics/1108355/largest-carbon-capture-and-storage-projects-worldwide-capacity , July 2024, Cliff Head Carbon Storage Project refer ASX:PGY 24 December 2024 - 22 12 Cliff Head Carbon Storage Resource Upgrade and Santos Limited med
Slide 26: Endnotes
Endnotes Note # Page Refer Pilot Energy ASX release for further information on the prospective resources with WA-481-P (ASX:PGY XX March 2025) 41 20 Refer Pilot Energy ASX release for further information on Trading Halt (ASX:PGY 19 December 2024), Request for voluntary suspension (ASX:PGY 23 Decembe
Slide 27: Contact Details
Contact Details For personal use only Pilot Energy Limited Suite 2, Ground Floor 100 Havelock Street West Perth WA 6005 www.pilotenergy.com.au Brad Lingo Managing Director blingo@pilotenergy.com.au 27 Corporate Presentation | April 2025