R&D Funding Program Update

• Elixir and Endpoints Capital have executed definitive documentation for the provision of a debt facility of up to $10 million to provide funding secured against the Lorelle-3 appraisal well’s approved R&D program via the AusIndustry Advance Finding. • The Lorelle-3 R&D program will cover up to 48.5% of the eligible costs associated with the drilling, analysis, completion and testing. Elixir Ener