Buru Energy Ltd · ASX:BRU
Buru Energy — Investor Presentation (September 2026)
24 slides from Buru Energy's investor presentation, Sep 15, 2026
Slide 1: Investor Webinar Presentation
ASX Announcement ASX Announcement 15 September 2026 For personal use only Investor Webinar Presentation Buru Energy Limited (Buru, Company) (ASX: BRU) is pleased to provide its Investor Webinar Presentation. Buru Energy Executive Chair, David Maxwell and Executive Director Joanne Williams will discu
Slide 2: Fuelling the Future
rsonal use only Fuelling the Future Material Foundation Value Build with Competitive Advantages and Growth 0 15 September 2026 ASX:BRU
Slide 3: Disclaimer
Disclaimer rsonal use only 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 Executive Chair of Buru Energy Limited. This presentation contains certain statements which may constitute "forward-looking statements
Slide 4: Our approach
Our approach Establish robust long term foundation cash flow rsonal use only - Rafael Gas Project with 20-year life - Competitive advantages include location and cost - Growing demand in the region ... on a “P90”/low risk basis - Proven Reserves base underpins commerciality - Price assumptions compe
Slide 5: Company snapshot
Company snapshot Assets and opportunities Where we operate Shareholders by type3 rsonal use only Rafael Gas Project, Canning Basin, WA 1.0% 0.5% HNW ▪ Rafael: the core and primary focus 12.35% Retail ▪ Buru 100% and Operator 32.9% Domestic ▪ Conventional gas & liquids (LPG & condensate) Institutions
Slide 6: Gas Project – competitive advantages
Rafael Gas Project – competitive advantages The regional energy solution rsonal use only Existing trucked / imported Rafael Gas Project Benefits gas, diesel & LPG Project Proximity to market 615 - 1,520+ km1 70 – 685 km 2 Delivered cost CO2 CO2 Transport emissions Regional development New market opp
Slide 7: Rafael onshore Reserves and Contingent Resources
Rafael – onshore Reserves and Contingent Resources Rafael Ungani Dolomite Depth Structure Map Rafael 1 drilled on 2D seismic in 2021 encountered significant rsonal use only gas columns in a large 4-way structural closure (1) Primary Reservoir Interval (robust base case): ▪ Crestal T20 Ungani Dolomit
Slide 8: Flying Fox - potential significant resource upside
Flying Fox - potential significant resource upside Flying Fox – prospect beneath Rafael rsonal use only Prospect: Devonian carbonate target, imaged on 2023 acquired Rafael 3D, immediately beneath the Rafael 1 discovery, within a faulted closure of 26 km2 and ~370m vertical relief Opportunity: upside
Slide 9: Region upside and value build
Rafael region upside and value build rsonal use only Buru Energy | Fuelling the Future - September 2026 8
Slide 10: Capital efficient project design
Rafael - capital efficient project design ▪ 15.25 MMboe Proven & Probable Reserves (gas & liquids) rsonal use only ▪ 2C best estimate (21 MMboe) or the 3C resource case (50 MMboe) 1 adds material upside ▪ Small footprint, based around the existing cleared Rafael 1 discovery well pad – enables simple
Slide 11: LNG and liquids plant a proven design
Rafael - LNG and liquids plant a proven design rsonal use only SMR process ▪ workhorse of LNG industry ▪ used in many liquefaction installations Plant Units Capacity LNG tonnes/day 300 LPG tonnes/day 22 Condensate / kilolitres/day ~100 diesel Buru Energy | Fuelling the Future - September 2026 10
Slide 12: Location delivers regional supply advantage
Rafael location delivers regional supply advantage ▪ Horizon Power (WA Government owned) - responsible for generating, procuring, distributing, and selling electricity in region. rsonal use only ▪ Horizon Power - currently executing the West Kimberley Power Project (WKPP) designed to solve the Kimbe
Slide 13: Growth offtake – multiple opportunities
Rafael growth offtake – multiple opportunities Project Owner Location Road distance Road distance Approx. Commercial Status from Karratha from Rafael daily rsonal use only (kms) (kms) demand Thunderbird Mineral Sands mine Sheffield Resources / West Kimberley 730 115 2 TJ/d Operating mine, gas supply
Slide 14: Derisked through strategic partnership
Rafael - derisked through strategic partnership CEFA (Plant operator) -finance, build, own and operate Rafael Gas rsonal use only Plant and distribute LNG to market US private equity firm with US$40 billion in assets under management. Investments in 89 companies operating (~A$ 150 million) across 70
Slide 15: Optimised schedule to capture value pre-FID
Rafael - optimised schedule to capture value pre-FID Drill Rafael 2H and Rafael 1 recompletion post 2026/27 wet season, de-risks operational logistics, rigs available and aligns with optimised development plan rsonal use only First cashflow targeting by early 2029 Value-add activities: 1. Upstream /
Slide 16: High value foundation
Rafael – high value foundation Rafael Reserves – independently assessed and underpin value of the project rsonal use only 20 years foundation cash flow based on LNG Plant design life + opportunity to extend High margin product streams Rapid economic payback – 1 year on foundation base case Annual op
Slide 17: Buru/Rafael funding options
Buru/Rafael funding options Working with Carlingford (UK)1 on funding with potential counterparties rsonal use only Alternate options being assessed and pursued in parallel • Multiple parties conducting technical and commercial due diligence Status • ERCE Reserves Report – a key foundation • Range o
Slide 18: Other assets - Ungani oilfield (100%)
Other assets - Ungani oilfield (100%) ▪ Ungani under care and maintenance since rsonal use only August 2023 ▪ Produced ~2.3MMbbls of oil to date with ~660,000 bbls remaining1 ▪ Ungani oil previously sold at a premium to Dated Brent into the Southeast Asian market ▪ Currently assessing restart scenar
Slide 19: Other assets – Mars prospect (100%)
Other assets – Mars prospect (100%) ▪ Located 9km from the Ungani Production Facility (UPF) rsonal use only ▪ Mars 1 success adds material value for an Ungani restart and increases commercialisation options on robust economic terms ▪ 40% Geological Chance of Success ▪ Mars 1 exploration well planned
Slide 20: Other assets – Yulleroo (100%)
Other assets – Yulleroo (100%) A significant unconventional gas and liquids rich accumulation on the western side of the Canning Basin rsonal use only ▪ Yulleroo - large unconventional gas and high-value liquids resource within the Carboniferous-aged Laurel Formation ▪ Yulleroo accumulation - define
Slide 21: Other assets – Yulleroo (100%)
Other assets – Yulleroo (100%) ▪ Yulleroo - all 4 wells intersected thick gas saturated sections with gas below closure mapped on rsonal use only seismic ▪ Yulleroo 4 - deliberately drilled outside closure Yulleroo 2 clean-up flow 2010 ▪ Yulleroo 3 – includes potential conventional pay ▪ Yulleroo 2
Slide 22: Experienced team to deliver
Experienced team to deliver Mr David Maxwell Project rsonal use only Executive Chair from 8 May 20261 Development Support >35yrs strategy, gas commercialisation, risk and asset management Ms Joanne Williams Leaders with deep industry Executive Director from 8 May 20261 experience and a track >25yrs
Slide 23: Summary
Summary Rafael Gas Project transforms Buru rsonal use only - material foundation long term cash flow within 2 to 3 years - base case on certified Proven & Probable Reserves - valuable competitive advantages - high value upside opportunities Partnering with CEFA - an existing growing industry partici
Slide 24: rsonal use only
rsonal use only David Maxwell – Executive Chair Joanne Williams – Executive Director Paul Bird – CFO 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