Qpm Energy Limited · ASX:QPM
Qpm Energy — Investor Presentation (December 2025)
47 slides from Qpm Energy's investor presentation, Dec 3, 2025
Slide 1: Powering a sustainable Queensland
Powering a sustainable Queensland 3 December 2025 | ASX:QPM | qpmenergy.com.au LM6000 Aeroderivative Gas Turbine
Slide 2: Important Notices & Disclaimers
Important Notices & Disclaimers You must read the following carefully before continuing or making use of the information contained in this investor presentation (“Presentation”). By attending an investor presentation or briefing, or accepting, accessing or reviewing this Presentation, you acknowledg
Slide 3: Important Notices & Disclaimers
Important Notices & Disclaimers Not an offer and foreign jurisdictions This Presentation is not, and should not be considered, an offer or an invitation to acquire New Shares or any other financial products and does not and will not form any part of any contract to acquire New Shares. The distributi
Slide 4: IPS Funding Update and Equity Raise Overview
IPS Funding Update and Equity Raise Overview
Slide 5: Isaac Energy Hub development update
Isaac Energy Hub development update Isaac Power Station (IPS) development activities are on track with FID due by March 2026 Key Workstreams Design, engineering and procurement Detailed engineering design nearing completion, turbines on track for delivery to Queensland around March / April 2026
Slide 6: Funding is Well Progressed
Funding is Well Progressed QPM has signed a non-binding term sheet for a $40m convertible note investment, which together with the ~$113 million MLA with Macquarie underpins timely development of the IPS Project Debt Update Convertible Note The MLA fully funds the two LM6000 gas turbines acquired
Slide 7: Equity Raise Overview
Equity Raise Overview $30 million Placement to maintain project momentum and deliverability • QPM is conducting a placement to raise approximately $30 million (before costs) via the issue of ~866.6 million fully paid ordinary shares (“New Shares”), comprising: Offer size and • ~747.3 million New Sha
Slide 8: Indicative Timetable
Indicative Timetable Indicative Offer timetable Event Date (AEDT) Trading Halt lifted and announcement of completion of the Placement Wednesday, 3 December 2025 Settlement of New Shares under Tranche 1 of the Placement Monday, 8 December 2025 Allotment, quotation and trading of New Shares under tran
Slide 9: IPS Indicative Sources and Uses
IPS Indicative Sources and Uses QPM is on track to complete all funding packages in the March 2026 quarter Sources Indicative Amount ($m) QPM investment to date 18 Project Finance Facilities 180 Convertible Note 40 Initial IPS Equity Raise 30 development costs Total 268 and GE turbine xx deposit Use
Slide 10: Pathway to Final Investment Decision
Pathway to Final Investment Decision Strong progress being made across to ensure IPS Project remains on track for mid 2027 commissioning Commentary Status Update Material Change of Use Development Application (“MCUDA”) submitted to The equity capital raising will allow the assessing body, Isaac
Slide 11: QPM's Track Record of Delivery
QPM’s Track Record of Delivery QPM’s execution of its “Molecules to Electronics” strategy has been swift Month Achieved Nov-24 Dec-25 Feb-25 Jun-25 Oct-25 Mar-26 Jul-27 Months from Electricity Generation 0 1 3 7 11 16 32 Strategy Milestone Status Strategy announcement at AGM Complete MPS Acquisition
Slide 12: Company Overview
Ou Company Overview
Slide 13: QPM Corporate Snapshot
QPM Corporate Snapshot Share price Market cap. Shares on issue Cash Gas + Elec Sales $4.0c $124m 3,089m $18.8m $88m As at 28 Nov 2025 As at 28 Nov 2025 As at 28 Nov 2025 As at 30 Sep 2025 FY2025 Board of Directors / Executive Management LTM Share Price Performance Share Price (A$) Eddie King David W
Slide 14: QPM Energy Ltd – QLD's Emerging Utility
QPM Energy Ltd – QLD’s Emerging Utility… QPM Energy Ltd (ASX:QPM) is a uniquely positioned, integrated energy utility Integrated – from molecule to electron… ― Gas reserves – 435PJ 2P Reserves ― Gas supply - ~25-30TJ / day (11 PJ / year) Managed gas production – 125 – 130 producing wells Third
Slide 15: …With Growing Generation Capacity
…With Growing Generation Capacity QPM is on the way to its goal of managing a portfolio of 500MW of electricity generation capacity 0 MW 100 MW 200 MW 300 MW 400 MW 500 MW TPS MPS IPS Stage 1 IPS Stage 2 / IEH Bess / Other generation Townsville Power Station Moranbah Power Station xx Station (IPS) I
Slide 16: Electricity Revenue Growth to Date
Electricity Revenue Growth to Date 30% increase in electricity revenue, despite having TPS offline in the FY25 June Quarter Forecasted Gas and Electricity Sales Uplift ($m) FY2025 vs FY2024 Cumulative Electricity Revenue FY25 gas and electricity generation uplift 60 driven by: 1. First full 12 mon
Slide 17: …With Plans to Grow Further
…With Plans to Grow Further Over 80% of QPM revenues will be sourced from electricity generation and sales Forecasted Gas and Electricity Sales Uplift ($m) Forecasted annual revenue from planned ~100MW / 4-hour dispatch BESS Forecasted annual Stage 1 revenue from IPS Feasibility Study – 2x turbines
Slide 18: Underpinned by Substantial 2P Reserves
Underpinned by Substantial 2P Reserves QPM has added 165PJ of 2P Reserves since acquisition, with ~300PJ available for electricity generation MGP 2P Reserve Growth (PJ) MGP has 435PJ of 2P reserves independently 165PJ Increase Since Acquisition certified by Netherland Sewell & Associates as at 30
Slide 19: Attractively Positioned for Re-rating
Attractively Positioned for Re-rating QPM is underpinned by significant gas reserves that can be monetised through high margin electricity generation Peer 2P Reserves1 Peer Market Capitalisations2 250 20,173 12,257 6,035 Oil & Gas 4,000 Step 2: become Utilities 205 2 recognised as an 200 3,500 integ
Slide 20: Queensland Energy Roadmap 2025
Queensland Energy Roadmap 2025 QPM is ideally positioned to help the Queensland Government deliver on its energy objectives Commentary from the Hon David Janetzki MP “Gas has emerged as a critical technology for system reliability and firming as the generation mix changes over time” ― Current inst
Slide 21: Looking Forward
Looking Forward FY26 Guidance FY2026 Guidance1 Units Lower2 Upper FY25 FY2026 targets ― Continue to grow gas and electricity sales Total gas supply PJ 10.2 11.3 9.4 revenue Daily average gas supply TJ/d 28 31 25.8 ― Reap benefits of cost reductions arising from new TPS and NQGP contracts Gas Sales
Slide 22: Isaac Energy Hub Stage 1 | 112MW Isaac Power Station
Isaac Energy Hub Stage 1 | 112MW Isaac Power Station
Slide 23: Isaac Energy Hub
Isaac Energy Hub QPM is developing the Isaac Energy Hub to deliver critical support for Queensland’s Energy Transition Isaac Energy Hub 1 2 3 Gas Production Gas Management Stage 1 IPS Stage 2 IPS + IEH BESS Moranbah Gas Project / Other IEH generation 435PJ 2P Reserves Collection point for 112M
Slide 24: Feasibility Study Outcomes - Physicals
Feasibility Study Outcomes - Physicals High confidence operating metrics Feasibility Study Physicals Units Output Physical Nameplate generation capacity MW 111.6 Modelled Life Years 30+ Hourly Gas Consumption TJ/hour 1.0-1.1 xx Daily Gas Supply TJ/day 11 Annual Gas Usage PJ 4.0 Daily Operating Hours
Slide 25: GE LM6000
GE LM6000 xx GROWING EAST COAST GAS PRODUCTION Page | 25 Page | 25
Slide 26: Feasibility Study Outcomes – Capital Costs
Feasibility Study Outcomes – Capital Costs Strong certainty on capital costs with majority of capex relating to turbines, secured under fixed price Commentary Feasibility Study Capex Estimate Units Output Capital Costs Co-locating to existing cleared land, in close proximity to key infrastructure
Slide 27: High Value Gas Turbines Secured
High Value Gas Turbines Secured QPM has entered into a fixed price contract to acquire 2x 55.8MW gas fired turbines from GE Vernova Stage 1 of the IPS will involve the installation of 2 x GE LM6000 gas turbines Demand for gas turbines have experienced an unprecedented surge following increase in
Slide 28: Feasibility Study Outcomes – Compelling Economics
Feasibility Study Outcomes – Compelling Economics Outstanding financial metrics Commentary Feasibility Study Financials (Real basis) Units Output Price Assumptions1 / Revenue Will contribute to strong growth in QPM’s revenue 4 Hour Peak Power Price $/MWh 227-264 and earnings Shoulder Power Price $
Slide 29: Funding is Well Progressed
Funding is Well Progressed ~$113 million Master Lease Agreement (MLA) with Macquarie Bank to underpin timely development of IPS Key Comments Key Terms of MLA1 QPM Counterparty Isaac Power Station No1 Pty Ltd The MLA fully funds the two LM6000 gas turbines acquired QPM Energy Limited, Isaac Ene
Slide 30: Implied Historical Performance
Implied Historical Performance Based on actual historical Queensland electricity prices, IPS would have outperformed feasibility projections Implied IPS Revenue Based on Historical Qld Electricity Prices The forecast average annual revenue per the feasibility study for the IPS makes a number of co
Slide 31: IPS to Operate at the Bottom of the Cost Curve
IPS to Operate at the Bottom of the Cost Curve IPS will be Queensland’s Lowest Cost gas-powered generation (GPG) asset QLD GPG Cost Curve $/MWh 600 500 400 xx 300 200 Darling Downs Condamine Braemar 1 Braemar 2 Swanbank Smithfield Mt Stuart 100 Yarwun Oakey Roma TPS IPS - Cumulative Capacity – 3,538
Slide 32: Straightforward Construction Process
Straightforward Construction Process IPS to leverage ample existing supporting infrastructure and modular gas turbine units De-risked path to Generation QPM-Controlled from Molecule to Electron QPM-owned MGP to supply 11TJ / day Supply QPM-owned Moranbah Processing Facility MGP 435PJ 2P Reserves
Slide 33: Positioned to Capture Attractive Market Dynamics
Positioned to Capture Attractive Market Dynamics ~$60/MWh SRMC allows the IPS can be dispatched over a longer window vs other gas fired power stations Average Qld Electricity Price per settlement period since 2022 700 Average FY22-FY25 SRMC Daily peak electricity demand 600 typically occurs after su
Slide 34: Ramping up Gas Supply Ahead of IPS
Ramping up Gas Supply Ahead of IPS High-margin electricity generation from the IPS provides the catalyst for expanded gas supply and investment Targeted Daily Gas Supply Growth +11TJ/day 40 ~37 TJ/day ~13.5PJ/year ~3% of 2P Reserves 35 Stage 1 IPS to use 30 ~10-11TJ/day ~26 TJ/day 25 xx TJ/day 20 15
Slide 35: Appendices
Ou Appendices
Slide 36: Appendix A: MGP Project Reserves
Appendix A: MGP Project Reserves Gas Reserves1 The estimated proved and probable reserves, evaluated as of 30 April 2025, are contained within granted Gross (100%) Net2 Petroleum Leases PLs 191, 196, 223 and 224, referred to as the Moranbah Project, located in the Bowen Basin of Category / Subclass
Slide 37: Appendix B: Key Risks
Appendix B: Key Risks You should be aware that an investment in New Shares involves various risks. This section sets out some of the key risks associated with an investment in New Shares. A number of risks and uncertainties, which are both specific to QPM, and of a more general nature, may adversely
Slide 38: Appendix B: Key Risks (Cont.)
Appendix B: Key Risks (Cont.) Cont. Environmental bond QPM is the holder of a resource activity environmental authority (EA) over the Moranbah Gas Project. As required under the Mineral and Energy Resources (Financial Provisioning) Act 2018 (Qld), where the estimated environmental rehabilitation cos
Slide 39: Appendix B: Key Risks (Cont.)
Appendix B: Key Risks (Cont.) Cont, Approvals QPM is in the process of securing approvals to construct and operate the IPS. These approvals, which include environmental and grid connection, have not yet been granted. Delays to receiving these approvals, or not receiving them at all, could have a mat
Slide 40: Appendix B: Key Risks (Cont.)
Appendix B: Key Risks (Cont.) GENERAL BUSINESS RISKS Occupational health and safety risks QPM’s business will become increasingly exposed to occupational health and safety issues, including the risk of workplace injuries (or death) which may result in workers’ compensation claims, related common law
Slide 41: Appendix B: Key Risks (Cont.)
Appendix B: Key Risks (Cont.) Cont. Market risk As with all stock market investments, there are risks associated with an investment in QPM. Share prices may rise or fall and the price of QPM shares might trade below or above the issue price for the new shares the subject of this offer. The price at
Slide 42: Appendix C: Foreign Offer Jurisdictions
Appendix C: Foreign Offer Jurisdictions 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,
Slide 43: Appendix C: Foreign Offer Jurisdictions
Appendix C: Foreign Offer Jurisdictions This Presentation does not constitute an offer of New Shares in any jurisdiction in which it would be unlawful. In particular, this Presentation may not be distributed to any person, and the New Shares may not be offered or sold, in any country outside Austral
Slide 44: Appendix C: Foreign Offer Jurisdictions
Appendix C: Foreign Offer Jurisdictions Singapore This Presentation and any other materials relating to the New Shares have not been, and will not be, lodged or registered as a prospectus (as defined in the Securities and Futures Act 2001 of Singapore (“SFA”)) in Singapore with the Monetary Authorit
Slide 45: Appendix C: Foreign Offer Jurisdictions
Appendix C: Foreign Offer Jurisdictions Canada (Ontario and Quebec provinces) This Presentation constitutes an offering of New Shares only in the Provinces of Ontario and Quebec (“Provinces”), only to persons to whom New Shares may be lawfully distributed in the Provinces, and only by persons permit
Slide 46: Appendix C: Foreign Offer Jurisdictions
Appendix C: Foreign Offer Jurisdictions European Economic Area (“EEA”) In relation to each Member State of the EEA (each a “Relevant State”), this Presentation has not been, and will not be, registered with or approved by any securities regulator in any Relevant State. Accordingly, this Presentation
Slide 47: Contact Us
Contact Us Level 10 307 Queen St Brisbane QLD 4000 David Wrench Chief Executive Officer QPM Energy Limited ASX:QPM T: +61 7 3517 5900 E: info@qpmenergy.com.au