Slide 1: Good Oil & Gas Essential Energy Conference Presentation
Good Oil & Gas Essential Energy Conference Presentation ASX: EXR 1 Phase-1 Well Testing at Lorelle-3 Jul-26
Slide 2: Elixir is a pure expression of the Taroom Trough
Elixir is a pure expression of the Taroom Trough ▪ The overpressured Taroom Trough has scale (multi-TCF, 100’s mmbbls), low impurity O&G, access to pipelines & refineries, LNG & domestic markets and a low-cost base resulting from investment in the mature onshore industry in QLD. ▪ Elixir is the larg
Slide 3: Lorelle 3 - Multiple stacked hydrocarbon bearing reservoirs
Lorelle 3 - Multiple stacked hydrocarbon bearing reservoirs Above Background 148m of net gas-condensate pay Expanded evaluation included: ▪ Traditional logs ▪ Image logs ▪ Nuclear Magnetic Resonance logs ▪ Sidewall coring ▪ Whole core of primary target 59m net pay, 17% 2 Canyon Sandstone Packages ma
Slide 4: Lorelle-3H positive first phase test results
Lorelle-3H positive first phase test results Phase 1 Clean Up Results ▪ L3H is a proof of concept which has significant regional impacts ▪ Peak rates: 10.5 mmscfde (13 TJd) / 6.2mmscfde (7.5 TJd) for the hour ▪ Stable: 2.35mmscfde (3 TJd) Mudgas Volumetrics Stages ▪ Reservoir quality (>10% phi) and
Slide 5: Excellent quality oil and gas
Excellent quality oil and gas Gas Sample Analysis from Lorelle-3H Condensate/Oil Sample from Lorelle-3H % mol Final flow period indicated a 4% 2% Methane condensate/oil to gas ratio of Ethane 10 bbls/mmscf. Based on core 10% and petrophysical work this is Propane expected to change (increase) C4-C11
Slide 6: Lorelle Sandstone – Regionally anomalous
Lorelle Sandstone – Regionally anomalous Lorelle-3; Lorelle SST Sidewall Core Digital Micrograph Near Conventional -like Permeability ▪ The Lorelle Sandstone exhibits unique near conventional like reservoir properties across multiple penetrations in the area (L3, Ov-2 and DD2). ▪ Thickness of the Lo
Slide 7: Lorelle Sandstone – Untested upside
Lorelle Sandstone – Untested upside Overston 2 2m Net pay. Flowed 0.3 MMscfd stabilised rate unstimulated. Peak rate of 2.5 MMscfd Lorelle 3 60 m net pay on conventional logs. NMR logs indicate up to 117m of net pay. untested. Daydream 2 10 m of net pay Flowed 2.3 MMscfd peak, 1.3 MMScfd stabilised
Slide 8: Canyon Equivalent Sandstone present at Lorelle 3
Canyon Equivalent Sandstone present at Lorelle 3 ▪ The “Canyon Sand” equivalent package is present and one of multiple Kianga sands within Lorelle 3. The upper canyon sand has a gross thickness of 16m. ▪ Mudgas and isotube data suggest a condensate rich fluid. ▪ Well correlations from Dunk 1 to Lore
Slide 9: High resolution 3D seismic being acquired over Elixir's permits
High resolution 3D seismic being acquired over Elixir’s permits ▪ QGC (Shell) has acquired new block wide 3D seismic over their key permit. Elixir and QGC have entered into two agreements where Elixir will: o Receive a combined ~100km² of new processed 3D seismic; o Over two pre-identified key appra
Slide 10: Warkon Pilot – Production Planning
Warkon Pilot – Production Planning Upstream ▪ Up to 40mmscfd & 1,000bbls/d Production Owners Engineer System ▪ Condensate storage and offloading. ▪ Similar to Walyering design (WA). ▪ Deliver Concept Phase Design and report, Risk Assessment and Register, Prelim Cost Estimate, Prelim Schedule. ▪ Stud
Slide 11: Strategic Review
Strategic Review Evidence of undervalued nature of EXR ▪ On 12 August 2026 Elixir’s Board as part of its capital raise initiated a Market Capitalisation ($m) Strategic Review. as at 15th September 2026 441 ▪ The strategic review will consider a full range of options for the 3.2x Company's assets, wh
Slide 12: Investment Highlights
Investment Highlights 1. Elixir has the largest acreage position in the fast- evolving multi-TCF / billion boe Taroom Trough in Queensland. 2. Has proven its acreage is an extension of Shell’s primary area of operational activity. 3. Is materially undervalued versus its Taroom Trough trading peer Om
Slide 13: www.elixirenergy.com.au
Stuart Nicholls www.elixirenergy.com.au CEO & Managing Director stuart.nicholls@elixirenergy.com.au
Slide 14: Appendix: Resource Information & Cautionary Statements
Appendix: Resource Information & Cautionary Statements The totals are based on arithmetic aggregation of reservoir estimates. It must be noted that the 1C estimates may be conservative and the aggregate 3C estimates may be optimistic due to the portfolio effects of arithmetic summation. Contingent r