Cue Energy Resources LimitedASX: CUE

CEO AGM Presentation

· Issued by Cue Energy Resources Limited

ASX: CUE

Cue Energy Resources Limited Annual General Meeting Presentation 22 October 2025

Managing a High-Quality Portfolio Delivering Sustainable Production Returning Attractive Dividends



An Attractive High Yield Investment

Long term sustainable cash flow generating oil and gas production assets across Australia, Indonesia, and New Zealand

Managing

a high-quality portfolio

Delivering

sustainable production

Returning

attractive dividends

  • Portfolio of non-operated production assets delivering $55 million annual

    revenue(1)

  • Production of oil and gas and geographical diversification lowers investment risk

  • 600,000 boe FY2025 annual production

  • 13 new development wells on production in FY2025

  • Development plans in existing projects Mahato, Sampang & Onshore

    Australia

  • Mahato exploration drilling planned

  • 11.1 mmboe of 2P + 2C resources (2)

  • 14% dividend yield for FY2025

  • 1.5 cents/share dividend declared for FY25 ($10.5 million)

  • $31.5 million in dividends declared over the last 2 years

    1. FY25 Result. See ASX release dated 22 August 2025

    2. See Appendix 1: 2025 reserves and Resources

Operational and Financial Performance: FY25 Financial Highlights(1)


Net Cash (2)

$10.8 million

Final Dividend

0.5 / Share

EBITDAX

$30.3 million

Net Profit After Tax

$6.3 million

Revenue

$54.8

million

Indonesia $29.9m Australia $12.5m New Zealand $12.4m

Continuing to Deliver Strong Operational Performance, Investment Discipline and Cashflow Generation

Capital Returns to Shareholders

2.0 cents/share ($14m) returned during FY25

  1. FY25 Result. See ASX release dated 22 August 2025

  2. As at 30 June 2025

Diversified Portfolio of Production Assets

Generating Strong Free Cash Flow from Four Key Production Assets

Mahato PSC

Interest 11.25% Onshore oil production

$23.5 million revenue

Jakarta Office

Mereenie/Palm Valley/Dingo


Interest 7.5 - 15%

Onshore gas and oil production

$12.5 million revenue



Sampang PSC

Interest 15%

Offshore gas production

$6.4 million revenue

Melbourne Office

Maari

Interest 5%

Offshore oil production

$12.4 million revenue

Executing a Clear Strategy

Disciplined Investment and Shareholder Returns

Maximise Value from Existing Assets

Attractive Shareholder Returns

Growth in Known Areas

  • Develop up to 5.6 mmboe of

    existing Contingent Resource

  • New Ventures screening and assessment in existing project regions

  • Balance sheet strength and cash flow to underpin new asset investment

  • 14% FY2025 Dividend yield

  • Initiated dividends in FY24 with

    $31.5m (4.5 cps) paid to date

  • Policy of sustainable shareholder returns with bi-annual reviews

  • Mahato continued development and exploration drilling

  • Paus Biru Gas Development pending FID

  • Sampang PSC opportunity to increase interest by 10% to 25%

  • Mereenie / Palm Valley fields potential for additional drilling

Market Performance and Valuation

Strong Balance Sheet and Market Performance with Modest Valuation

1c Final Dividend Declared 0.5c Final Dividend Declared

1c Interim Dividend Declared

25 February 2025

$

$

2c Dividend Declared

29 February 2024

$

$



0.13

0.12

0.11

0.10

0.09

0.08

0.07

0.06

0.05

23 August 2024

22 August 2025





Volume (RHS) Price ($)

6,000,000

5,000,000

4,000,000

3,000,000

2,000,000

1,000,000

0

Market Capitalisation (15/10/25) $80.4 million

Share price (15/10/25) $0.115

Largest Shareholders 50% Echelon Resources

16% Singapore Petroleum

Cash(1) $10.8 million

Debt NIL

Enterprise Value (EV) $69.6 million

EV/2P(2) $12.65/boe

FY25 EV/ EBITDAX(3) 2.30x

FY2025 Dividend Yield(4) 14%

7 Cue Energy 2025 AGM | October 2025

  1. Reported at end June 2025.



  2. Based on 30 June 2025, published reserves. 2P Reserves at year end FY25 of 5.5 million barrels of oil equivalent. 69% of reported 2P reserves are gas and 31% are oil.

  3. Earnings before Interest, Tax, Depreciation Amortisation and Exploration based on FY25 EBITDAX of $30.3m

  4. FY25 Dividends declared (interim 1.0 cents/share + final 0.5cents/share) / 1 July 2024 share price

High Margin Asset Base

FY2025 Delivered Further Strong Operational and Financial Performance



Annual Operating Revenue

A$ million

60

FY25 Revenue and Gross Margin

A$ million

25

60%

50 20

50%

40 40%

15

30 30%

10

20 20%

5

10 10%

0

Jun-21 Jun-22 Jun-23 Jun-24 Jun-25

Indonesia Australia New Zealand

0 0%

Maari Mahato Sampang Australia

Revenue Gross Margin

Strong Free Cash Generation

Enables Dividend Payments While Reinvesting to Sustain Production

FY25 Cashflow

$ million

21

15

24

6

52

1

14

16.3

0

10.8

Opening Cash 1 July

2024

Receipts from

Customers + Interest

Payments to Suppliers Taxes, Royalties and

Finance

Exploration Net Cash from

Operating Activities

Net Cash used in

Investing Activities

Dividends FX Closing Cash 30 June

2025

Asset and Commodity Diversity

Consistent Production Backed by a Diversified Asset Portfolio

FY25 Revenue by Country

Australia 23%

$54.8m

New Zealand 23%

FY25 Revenue by Product

$54.8m

Oil & Condensate 68%

Indonesia 54%

Gas 32%

700,000

600,000

500,000

400,000

300,000

200,000

100,000

0

Net Production

Barrels of Oil Equivalent

FY22 FY23 FY24 FY25

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