Buru Energy Ltd · ASX:BRU
Buru Energy — Investor Presentation (September 2025)
27 slides from Buru Energy's investor presentation, Sep 1, 2025
Slide 1: Rafael Gas Project
For personal use only ASX:BRU Rafael Gas Project Opportunity to participate in the transformation of Buru Energy Building a gas business to generate near-term foundation long-term cashflow + significant growth opportunities 1 September 2025
Slide 2: Disclaimer
Disclaimer This document has been prepared by Buru Energy Limited ABN 71 130 651 437 (“Buru”) and has been authorised for the intended purpose by the Non-Executive Chair of Buru Energy Limited. For personal use only This presentation contains certain statements which may constitute "forward-looking
Slide 3: Company snapshot
Company snapshot Where We Operate Capital Structure For personal use only Founded in 2008 - a Western Shares on issue million 779.4 Australian oil and gas exploration Market Capitalisation1 $ million 21.0 and production company. Cash2 $ million 2.3 Focus is the development and Debt $ million nil
Slide 4: Investment summary
Investment summary Discovery: Rafael, discovered by Buru in 2021, is the first proven major conventional gas and condensate For personal use only resource found onshore in the Canning Basin, Western Australia. Location Advantage: Rafael Gas Project is well-positioned to provide a local source of LNG
Slide 5: The challenge being solved
The challenge being solved The Kimberley energy system is outdated and relies on long haul trucked For personal use only or imported LNG and diesel for power generation. This is costly and insecure, and the WA State Government is looking for an alternative from 2028. Horizon Power (WA government
Slide 6: Rafael Gas Project – key part of the solution
Rafael Gas Project – key part of the solution Uniquely positioned to replace a Existing trucked / imported Rafael Gas legacy, costly and insecure For personal use only Project Benefits gas and diesel Project energy system in the north of Western Australia that currently Proximity to market 840 - 1,4
Slide 7: A simple project design
A simple project design Project is based on high confidence 1C Resource of 85 Bscf For personal use only 2C best estimate (220 Bscf) or the 3C resource case (523 Bscf)1 adds material upside Small footprint (on existing cleared Rafael 1 discovery well pad) No pipeline (trucked LNG and condens
Slide 8: Project commercial model
Project commercial model A$ 150 million to build, own, operate facility and distribute For personal use only product to market US private equity firm with US$40 billion in assets under management. Investments in 89 companies operating across 70+ countries. The company invests in energy, utilities, t
Slide 9: Rafael has no regional competition
Rafael has no regional competition For personal use only • Rafael is 150 km inland (east) of Broome and 50 km from the Ungani oilfield • Rafael - includes a 165m gross thickness of gas bearing reservoir within • Rafael 1 discovery well drilled in EP 428 (Buru 100%) - pool fully mapped on the T20 Ung
Slide 10: Rafael development based on 1C resource
Rafael development based on 1C resource! Rafael 1 drilled on 2D seismic in 2021 encountered W E Depth (mSS) Rafael 1 Rafael B Gamma Ray) Proposed) significant gas columns in a large 4-way structural closure. For personal use only (1) Primary Reservoir Interval (robust base case): • Crestal T20 Ung
Slide 11: Upside from Rafael 2C, 3C and Flying Fox
Upside from Rafael 2C, 3C and Flying Fox Flying Fox – a newly identified prospect beneath Rafael For personal use only Prospect Narrative: Devonian carbonate target, imaged on recently acquired Rafael 3D, immediately beneath the Rafael 1 discovery, within a faulted closure of 26 km2 and ~370m vertic
Slide 12: Key de-risking events to date and planned
Key de-risking events to date and planned Now use Indicative For personal only Project Value Achieved Planned Achieved Secure an Planned Updated Rafael Strategic Development upstream resource volumes Agreement with Clean Flying Fox prospect development Project Independent confirm robust 2C Pre-FEED
Slide 13: Near term funding is required
Near term funding is required Key activities for 2025 – Near-term funding to maintain project momentum to first cashflow in Q1 2028 For personal use only 1. Regulatory approvals 2. Agreement making with Traditional Owners 3. Gas / liquids marketing 4. Finalise Rafael B well planning 5. Finalise Rafa
Slide 14: Focus on securing funding for resource appraisal
Focus on securing funding for resource appraisal For personal use only Several options being pursued in parallel to secure funding for Buru is undertaking the appraisal Rafael resource appraisal in 2026 of the Rafael resource, currently planned for Q2 2026. Estimated appraisal cost A$40 million Appr
Slide 15: Financial projections
Financial projections For personal use only Based on a 1C Contingent Resource of 85 Bcf of gas and 1.8 mmbls of condensate Economic screening demonstrates 14TJ/d, 250t LNG/250bbls condensate/day. Field Life ~20 years. Equity economics, ungeared in 2025-dollars. significant value: Gas Price A$/GJ (do
Slide 16: Support the journey
Support the journey From … For personal use only to transform Buru Energy from a successful explorer to the developer of a material foundation Kimberley gas business with long-term cashflow and opportunity for further growth 100% owner of Rafael – the only proven significant conventional gas and con
Slide 17: Opportunity to participate via Equity Raising
Opportunity to participate via Equity Raising • Use of funds target Rafael Gas Project activities which are Buru’s responsibility under the Strategic Development Agreement with CEFA. These activities are required to be completed by Buru prior to binding agreements with CEFA, gas and condensate custo
Slide 18: Use of funds
Use of funds For personal use only Use of Funds A$ % million Rafael Gas Project - pre-FID development 3.6 70% - Secure upstream funding partner - Native Title negotiations - Regulatory approvals - Gas and Condensate marketing - Upstream facility engineering - Appraisal / reserves certification plann
Slide 19: Investment Risks (1)
Investment Risks (1) Risk Category Risks Economic Risks General economic conditions, movements in interest and inflation rates and currency exchange rates may have an adverse effect on the Company’s For personal use only exploration, development and production activities, as well as on its ability t
Slide 20: Investment Risks (2)
Investment Risks (2) Risk Category Risks Financing Risk The Company may need to raise additional funds in the future. There is no assurance that the Company will be able to secure additional funding, whether For personal use only debt, equity or otherwise, on acceptable terms, or at all. Any additio
Slide 21: Investment Risks (3)
Investment Risks (3) Risk Category Risks Additional The funds raised under the Offer are considered to be sufficient to meet the immediate needs of the Company but will be insufficient to execute the For personal use only requirements for Company’s longer-term plans and strategies. The Company also
Slide 22: Team to deliver
Team to deliver For personal use only Mr David Maxwell Thomas Nador Independent Non-Executive Chair CEO >35yrs strategy, gas commercialisation, >25yrs strategy, resource development, commercial Leaders with deep industry risk and asset management experience and a proven Paul Bird track record of del
Slide 23: No better time to develop Rafael
No better time to develop Rafael For personal use only Kimberley energy system is outdated Kimberley energy system is changing Relies on trucked or imported gas and diesel WA Government plans to overhaul the Kimberley Gas: current demand 6 to13TJ/d (seasonal) – trucked up energy system by 2028
Slide 24: Thomas Z Nador, Chief Executive Officer
For personal use only Thomas Z Nador Chief Executive Officer Buru Energy Limited Level 2, 16 Ord Street West Perth, Western Australia 6005 PO Box 1903 West Perth WA 6872 Email: info@buruenergy.com Phone: 1800 337 330 Website: www.buruenergy.com ASX:BRU
Slide 25: Project history
Project history Confirmed phased For personal use only development strategy for full Commenced Farmed out 50% Flow Regained range for Rafael Rafael of Rafael to fund tested 100% of resource volume pre-FEED drilling Rafael 1 Rafael outcomes study Dec 2020 Nov 2021 Mar 2022 Apr 2022 Feb 2023 Jul 2023
Slide 26: Rafael - part of Western Australia's energy future
Rafael - part of Western Australia’s energy future For personal use only Gas accounts for ~60% of electricity generation in Western Forecast WA domestic gas supply adequacy – 2024 to 2034 1 Australia Significant gas supply deficit is forecast after 2029 as existing gas Demand fields deplete and
Slide 27: Planned 2026 appraisal/development drilling
Planned 2026 appraisal/development drilling For personal use only 2026 appraisal/development drilling program targets crestal location to maximise the intersection of higher net-to-gross reservoir sections with horizontal sections of 400m to maximise reservoir contact: 1• Drill Rafael B pilot hole