Announcement PDF Consolidated Financial Report For the period ended 30 June 2026 Eastern Gas Corporation Limited ABN 71 692 331 838 Eastern Gas Corporation Limited Contents 30 June 2026 Financial Report for the year ended 30 June 2026 2 Table of Contents Directors Report 3 Auditors Independent Declaration 13 Consolidated statement of profit or loss and other comprehensive income 14 Consolidated statement of financial position 15 Consolidated statement of changes in equity 16 Consolidated statement of cash flows 17 Notes to the consolidated financial statements 18 Consolidated entity disclosure statement 42 Directors’ declaration 43 Independent auditor’s report to the members of Eastern Gas Corporation Limited 44 Corporate directory 48 General information The company was incorporated on 29 October 2025. Accordingly, these financial statements cover the period from 29 October 2025 to 30 June 2026. As the company was incorporated during the financial year, there are no comparative amounts presented for the prior period. Eastern Gas Corporation Limited is a listed public company limited by shares, incorporated and domiciled in Australia. Its registered office and principal place of business is: 119 Willoughby Road Crows Nest NSW 2065 A description of the nature of the consolidated entity's operations and its principal activities are included in the directors' report, which is not part of the financial statements. Eastern Gas Corporation Limited Directors' report 30 June 2026 Financial Report for the year ended 30 June 2026 3 Directors’ Report The directors present their report, together with the financial statements, on the consolidated entity (referred to hereafter as the 'consolidated entity') consisting of Eastern Gas Corporation Limited (referred to hereafter as the 'company' or 'parent entity') and the entities it controlled at the end of, or during, the period ended 30 June 2026. The company was incorporated on 29 October 2025. Accordingly, these financial statements cover the period from 29 October 2025 to 30 June 2026. The Directors The following persons were directors of Eastern Gas Corporation Limited during the whole of the financial period and up to the date of this report, unless otherwise stated: David Spring - Managing Director and Chief Executive Officer Scott Brown - Non-Executive Director James Canning-Ure - Non-Executive Chairman Principal Activities Eastern Gas Corporation Limited operates as an exploration and appraisal-stage gas company. Its strategy is centred on advancing independently certified contingent gas resources through staged technical work programs designed to reduce geological and commercial risk ahead of potential development. Dividends There were no dividends paid, recommended or declared during the current financial period. Review of Operations The loss for the consolidated entity after providing for income tax amounted to $530,000. On 5 December 2025, the company completed the acquisition of three entities holding interests in the Windorah Gas Project in the Cooper Basin and Project Venus in the Surat Basin. The company was incorporated to focus on the development of the two gas projects it holds, following an initial public offering and listing on the Australian Securities Exchange. On 26 February 2026, Eastern Gas Corporation Limited completed its initial public offering (IPO) and separation from its parent company, Pure One Corporation Limited (“Pure One”). The IPO raised $5.5 million (before costs) through the issue of 27,500,000 fully paid ordinary shares at $0.20 per share. Significant changes in the state of affairs There were no significant changes in the state of affairs of the consolidated entity during the financial period. Matters subsequent to the end of the financial period On 1 September 2026 the Company completed drilling and demobilisation of the Venus-2H horizontal appraisal well at Project Venus. As announced to the ASX on 14 September 2026, Venus-2H intersected the existing Venus-1 wellbore and the completed production wellbore contains approximately 445 metres of interpreted net Macalister Lower coal. Repeated gas shows were recorded during drilling, including a peak total gas reading of 42.3%. The significance of these observations for gas deliverability will be assessed through the planned dewatering and flow-test. Eastern Gas Corporation Limited Directors' report 30 June 2026 Financial Report for the year ended 30 June 2026 4 On the 25 September 2026 the Company signed an indicative non-binding term sheet for a proposed R & D loan facility of up to $10 Million with the first drawdown proposed for $1.5 Million. The facility would allow Eastern Gas to draw down likely cash receipts expected for R & D tax incentive amounts. Apart from the above, no matter or circumstance has arisen since 30 June 2026 that has significantly affected, or may significantly affect the consolidated entity's operations, the results of those operations, or the consolidated entity's state of affairs in future financial years. Likely developments and expected results of operations Information on likely developments in the operations of the consolidated entity and the expected results of operations have not been included in this report because the directors believe it would be likely to result in unreasonable prejudice to the consolidated entity. Environmental regulation The consolidated entity’s petroleum exploration and appraisal activities in Queensland are subject to the Environmental Protection Act 1994 (Qld) and the conditions of the environmental authorities applying to Project Venus and the Windorah Gas Project. These requirements govern the management of environmental impacts and the rehabilitation of disturbed land. Directors James Canning-Ure - Non-Executive Chairman James brings over 30 years’ experience in accounting (PwC), banking (Barclays) and investor relations (Republic PR). His corporate wheelhouse includes capital raisings, mergers and acquisitions, IPOs and crisis management. In October 2008 James was part of the team that advised UK-based BG Group, which launched a $4.8 billion takeover of Queensland Gas Company (QGC) and he worked on restructuring QGC for 3 years. James has also advised Comet Ridge on capital raisings. In addition to several Board appointments for ASX and TSX listed companies, he has acted as a strategic advisor to industry leaders including British Gas, QGC, Orocobre, Sayona and Lake Resources. . David Spring - Managing Director & CEO David has a degree in geophysics and a career of over 40 years within the petroleum industry, as an executive/senior manager and geoscientist delivering successful onshore and offshore international oil and gas exploration, appraisal, development and business development projects. While working for BHP, Maersk Oil, Mubadala Petroleum and Senex Energy, David was responsible for gas exploration and development projects in Australia, South America/ Caribbean and North Africa, including management responsibility for the El Merk gas project in Algeria for Maersk Oil and Gas. . Scott Brown - Non-Executive Director Scott is Managing Director of Pure One and brings over 35 years of public company leadership across energy and technology companies. Prior to Pure, Scott was instrumental in the listing of several companies in the US and on the ASX including Real Energy and Objective Corporation (ASX:OCL). Scott was CFO of ASX listed Mosaic Oil, an energy company with a broad portfolio of oil and gas production and exploration assets, and CFO of Allegiance Mining NL, Turnbull & Partners & Objective Corporation Limited. Mr Brown is a Chartered Accountant that worked at KPMG and the Ernst Young. Eastern Gas Corporation Limited Directors' report 30 June 2026 Financial Report for the year ended 30 June 2026 5 Company Secretary Adam Gallagher was appointed as the company secretary on 13 March 2026. Adam Gallagher is a highly experienced company secretary and has been a Chartered Secretary since 2012. He holds Graduate Diplomas in Governance and Information Systems, a Master of Commerce and a Bachelor of Economics. Meetings of directors The number of meetings of the company's Board of Directors ('the Board'), including circular resolutions, held during the period ended 30 June 2026, and the number of meetings attended by each director were: Full Board Attended Held* David Spring 12 12 Scott Brown 12 12 James Canning-Ure 12 12 *Held: represents the number of meetings held during the time the director held office. Meetings include circular resolutions of the company. Remuneration report (audited) The remuneration report details the key management personnel remuneration arrangements for the consolidated entity, in accordance with the requirements of the Corporations Act 2001 and its Regulations. Key management personnel are those persons having authority and responsibility for planning, directing and controlling the activities of the entity, directly or indirectly, including all directors. The remuneration report is set out under the following main headings: ● Principles used to determine the nature and amount of remuneration ● Details of remuneration ● Service agreements ● Share-based compensation ● Additional disclosures relating to key management personnel Principles used to determine the nature and amount of remuneration The objective of the consolidated entity's executive reward framework is to ensure reward for performance is competitive and appropriate for the results delivered. The framework aligns executive reward with the achievement of strategic objectives and the creation of value for shareholders, and it is considered to conform to the market best practice for the delivery of reward. The Board of Directors ('the Board') ensures that executive reward satisfies the following key criteria for good reward governance practices: ● competitiveness and reasonableness ● acceptability to shareholders ● performance linkage / alignment of executive compensation ● transparency Eastern Gas Corporation Limited Directors' report 30 June 2026 Financial Report for the year ended 30 June 2026 6 The Nomination and Remuneration Committee is responsible for determining and reviewing remuneration arrangements for its directors and executives. The performance of the consolidated entity depends on the quality of its directors and executives. The remuneration philosophy is to attract, motivate and retain high performance and high quality personnel. In consultation with external remuneration consultants (refer to the section 'Use of remuneration consultants' below), the Nomination and Remuneration Committee has structured an executive remuneration framework that is market competitive and complementary to the reward strategy of the consolidated entity. The reward framework is designed to align executive reward to shareholders' interests. The Board have considered that it should seek to enhance shareholders' interests by: ● having economic profit as a core component of plan design ● focusing on sustained growth in shareholder wealth, consisting of dividends and growth in share price, and delivering constant or increasing return on assets as well as focusing the executive on key non-financial drivers of value ● attracting and retaining high calibre executives Additionally, the reward framework should seek to enhance executives' interests by: ● rewarding capability and experience ● reflecting competitive reward for contribution to growth in shareholder wealth ● providing a clear structure for earning rewards In accordance with best practice corporate governance, the structure of non-executive director and executive director remuneration is separate. Non-executive directors remuneration Fees and payments to non-executive directors reflect the demands and responsibilities of their role. Non-executive directors' fees and payments are reviewed annually by the Nomination and Remuneration Committee. The Nomination and Remuneration Committee may, from time to time, receive advice from independent remuneration consultants to ensure non-executive directors' fees and payments are appropriate and in line with the market. The chairman's fees are determined independently to the fees of other non-executive directors based on comparative roles in the external market. The chairman is not present at any discussions relating to the determination of his own remuneration. Executive remuneration The consolidated entity aims to reward executives based on their position and responsibility, with a level and mix of remuneration which has both fixed and variable components. The executive remuneration and reward framework has four components: ● base pay and non-monetary benefits ● short-term performance incentives ● share-based payments ● other remuneration such as superannuation and long service leave The combination of these comprises the executive's total remuneration. Eastern Gas Corporation Limited Directors' report 30 June 2026 Financial Report for the year ended 30 June 2026 7 Fixed remuneration, consisting of base salary, superannuation and non-monetary benefits, are reviewed annually by the Nomination and Remuneration Committee based on individual and business unit performance, the overall performance of the consolidated entity and comparable market remunerations. Executives may receive their fixed remuneration in the form of cash or other fringe benefits (for example motor vehicle benefits) where it does not create any additional costs to the consolidated entity and provides additional value to the executive. The short-term incentives ('STI') program is designed to align the targets of the business units with the performance hurdles of executives. STI payments are granted to executives based on specific annual targets and key performance indicators ('KPI's') being achieved. KPI's include profit contribution, customer satisfaction, leadership contribution and product management. The long-term incentives ('LTI') include long service leave and share-based payments. Shares are awarded to executives over a period of three years based on long-term incentive measures. These include increase in shareholders value relative to the entire market and the increase compared to the consolidated entity's direct competitors. Consolidated entity performance and link to remuneration Remuneration for certain individuals is directly linked to the performance of the consolidated entity. A portion of cash bonus and incentive payments are dependent on defined earnings per share targets being met. The remaining portion of the cash bonus and incentive payments are at the discretion of the Nomination and Remuneration Committee. Refer to the section '' below for details of the earnings and total shareholders return for the last five years. The Nomination and Remuneration Committee is of the opinion that the continued improved results can be attributed in part to the adoption of performance based compensation and is satisfied that this improvement will continue to increase shareholder wealth if maintained over the coming years. Details of remuneration Amounts of remuneration Details of the remuneration of key management personnel of the consolidated entity are set out in the following tables. The key management personnel of the consolidated entity consisted of the following directors of Eastern Gas Corporation Limited: ● David Spring - Managing Director and Chief Executive Officer ● Scott Brown - Non-Executive Director ● James Canning-Ure - Non-Executive Chairman And the following person: ● Adam Gallagher - Company Secretary Eastern Gas Corporation Limited Directors' report 30 June 2026 Financial Report for the year ended 30 June 2026 8 Short-term benefits Post- employme nt benefits Long-term benefits Share- based payments Cash salary Cash Non- Super- Long service Equity- and fees bonus monetary annuation leave settled Total 8 months ended 30 June 2026 $'000 $'000 $'000 $'000 $'000 $'000 $'000 Non-Executive Directors: Scott Brown 56 - - - - - 56 James Canning-Ure 56 - - - - 2 58 Executive Directors: David Spring 140 - - - - 5 145 Other Key Management Personnel: Adam Gallagher 18 - - - - - 18 270 - - - - 7 277 The proportion of remuneration linked to performance and the fixed proportion are as follows: Fixed remuneration At risk - STI At risk - LTI Name 8 months ended 30 June 2026 8 months ended 30 June 2026 8 months ended 30 June 2026 Non-Executive Directors: Scott Brown 100% - - James Canning-Ure 97% 3% - Executive Directors: David Spring 97% 3% - Other Key Management Personnel: Adam Gallagher 100% - - Eastern Gas Corporation Limited Directors' report 30 June 2026 Financial Report for the year ended 30 June 2026 9 Share-based compensation Issue of shares There were no shares issued to directors and other key management personnel as part of compensation during the period ended 30 June 2026. Options The terms and conditions of each grant of options over ordinary shares affecting remuneration of directors and other key management personnel in this financial period or future reporting years are as follows: Name Number of options granted Grant date Vesting date and exercisable date Expiry date Exercise price Fair value per option at grant date David Spring 1,500,000 18/02/2026 18/02/2026 18/02/2029 $0.30 $0.003 James Canning-Ure 500,000 18/02/2026 18/02/2026 18/02/2029 $0.30 $0.003 Options granted carry no dividend or voting rights. Apart from disclosed above, there were no options over ordinary shares granted to or vested by directors and other key management personnel as part of compensation during the period ended 30 June 2026. Performance rights There were no performance rights over ordinary shares issued to directors and other key management personnel as part of compensation that were outstanding as at 30 June 2026. There were no performance rights over ordinary shares granted to or vested by directors and other key management personnel as part of compensation during the period ended 30 June 2026. Additional disclosures relating to key management personnel Shareholding The number of shares in the company held during the financial period by each director and other members of key management personnel of the consolidated entity, including their personally related parties, is set out below: Balance at Received Balance at the start of as part of Disposals/ the end of the period remuneration Additions other the period Ordinary shares David Spring - - 62,500 - 62,500 Scott Brown - - 512,800 - 512,800 James Canning-Ure - - 625,000 - 625,000 Adam Gallagher - - - - - - - 1,200,300 - 1,200,300 Eastern Gas Corporation Limited Directors' report 30 June 2026 Financial Report for the year ended 30 June 2026 10 Option holding The number of options over ordinary shares in the company held during the financial period by each director and other members of key management personnel of the consolidated entity, including their personally related parties, is set out below: Balance at Expired/ Balance at the start of forfeited/ the end of the period Granted Exercised other the period Options over ordinary shares David Spring - 1,500,000 - - 1,500,000 Scott Brown - - - - - James Canning-Ure - 500,000 - - 500,000 Adam Gallagher - - - - - - 2,000,000 - - 2,000,000 This concludes the remuneration report, which has been audited. Shares under option Unissued ordinary shares of Eastern Gas Corporation Limited under option at the date of this report are as follows: Exercise Number Grant date Expiry date price under option 18 February 2026 18 February 2029 $0.30 9,309,167 Apart from disclosed above and in this report no person entitled to exercise the options had or has any right by virtue of the option to participate in any share issue of the company or of any other body corporate. Shares under performance rights Unissued ordinary shares of Eastern Gas Corporation Limited under performance rights at the date of this report are as follows: Exercise Number Grant date Expiry date price under rights 5 December 2025 5 December 2030 $0.00 9,000,000 Apart from the above, no person entitled to exercise the performance rights had or has any right by virtue of the performance right to participate in any share issue of the company or of any other body corporate. Shares issued on the exercise of options Eastern Gas Corporation Limited Directors' report 30 June 2026 Financial Report for the year ended 30 June 2026 11 There were no ordinary shares of Eastern Gas Corporation Limited issued on the exercise of options during the period ended 30 June 2026 and up to the date of this report. Shares issued on the exercise of performance rights There were no ordinary shares of Eastern Gas Corporation Limited issued on the exercise of performance rights during the period ended 30 June 2026 and up to the date of this report. Indemnity and insurance of officers The company has indemnified the directors and executives of the company for costs incurred, in their capacity as a director or executive, for which they may be held personally liable, except where there is a lack of good faith. During the financial period, the company paid a premium in respect of a contract to insure the directors and executives of the company against a liability to the extent permitted by the Corporations Act 2001. The contract of insurance prohibits disclosure of the nature of the liability and the amount of the premium. Indemnity and insurance of auditor The company has not, during or since the end of the financial period, indemnified or agreed to indemnify the auditor of the company or any related entity against a liability incurred by the auditor. During the financial period, the company has not paid a premium in respect of a contract to insure the auditor of the company or any related entity. Proceedings on behalf of the company No person has applied to the Court under section 237 of the Corporations Act 2001 for leave to bring proceedings on behalf of the company, or to intervene in any proceedings to which the company is a party for the purpose of taking responsibility on behalf of the company for all or part of those proceedings. Non-audit services There were no non-audit services provided during the financial period by the auditor. Officers of the company who are former partners of In.Corp Audit & Assurance Pty Ltd There are no officers of the company who are former partners of In.Corp Audit & Assurance Pty Ltd. Rounding of amounts The company is of a kind referred to in Corporations Instrument 2026/183, issued by the Australian Securities and Investments Commission, relating to 'rounding-off'. Amounts in this report have been rounded off in accordance with that Corporations Instrument to the nearest thousand dollars, or in certain cases, the nearest dollar. Auditor's independence declaration A copy of the auditor's independence declaration as required under section 307C of the Corporations Act 2001 is set out immediately after this directors' report. Auditor In.Corp Audit & Assurance Pty Ltd continues in office in accordance with section 327 of the Corporations Act 2001. This report is made in accordance with a resolution of directors, pursuant to section 298(2)(a) of the Corporations Act 2001. Eastern Gas Corporation Limited Directors' report 30 June 2026 Financial Report for the year ended 30 June 2026 12 On behalf of the directors David Spring Managing Director and CEO 30 September 2026 In.Corp Audit & Assurance Pty Ltd ABN 14 129 769 151 Level 1 6-10 O’Connell Street SYDNEY NSW 2000 Suite 11, Level 1 4 Ventnor Avenue WEST PERTH WA 6005 GPO BOX 542 SYDNEY NSW 2001 T +61 2 8999 1199 E team@incorpadvisory.au W incorpadvisory.au To the Directors of Eastern Gas Corporation Limited I declare that, to the best of my knowledge and belief, in relation to the audit for the period ended 30 June 2026 there have been: • no contraventions of the auditor independence requirements of the Corporations Act 2001 in relation to the audit; and • no contraventions of any applicable code of professional conduct in relation to the audit. This declaration is in relation to Eastern Gas Corporation Limited and the entities it controlled during the period. In.Corp Audit & Assurance Pty Ltd Graham Webb Director Sydney, 30 September 2026 AUDITOR’S INDEPENDENCE DECLARATION UNDER SECTION 307C OF THE CORPORATIONS ACT 2001 Liability limited by a scheme approved under Professional Standards Legislation 13 Eastern Gas Corporation Limited Consolidated statement of profit or loss and other comprehensive income For the period ended 30 June 2026 Consolidated Note 8 months ended 30 June 2026 $'000 Financial Report for the year ended 30 June 2026 14 Revenue 4 215 Interest revenue 39 Expenses Corporate and administration expenses (399) Operations expenses (6) Sales and marketing (106) Gas project expenses (273) Total expenses (784) Loss before income tax expense 5 (530) Income tax expense 6 - Loss after income tax expense for the period attributable to the owners of Eastern Gas Corporation Limited (530) Other comprehensive income for the period, net of tax - Total comprehensive income for the period attributable to the owners of Eastern Gas Corporation Limited (530) Cents Basic earnings per share 26 (0.8) Diluted earnings per share 26 (0.8) The above consolidated statement of profit or loss and other comprehensive income should be read in conjunction with the accompanying notes Eastern Gas Corporation Limited Consolidated statement of financial position As at 30 June 2026 Consolidated Note 30 June 2026 $'000 Financial Report for the year ended 30 June 2026 15 Assets Current assets Cash and cash equivalents 7 3,139 Trade and other receivables 8 345 Financial assets 9 217 Prepayments 2 Total current assets 3,703 Non-current assets Exploration and evaluation 10 14,412 Total non-current assets 14,412 Total assets 18,115 Liabilities Current liabilities Trade and other payables 11 116 Total current liabilities 116 Non-current liabilities Provisions 12 1,008 Total non-current liabilities 1,008 Total liabilities 1,124 Net assets 16,991 Equity Issued capital 13 17,453 Reserves 14 68 Accumulated losses (530) Total equity 16,991 The above consolidated statement of financial position should be read in conjunction with the accompanying notes Eastern Gas Corporation Limited Consolidated statement of changes in equity For the period ended 30 June 2026 Consolidated Note 8 months ended 30 June 2026 $'000 Financial Report for the year ended 30 June 2026 16 Issued Accumulated Total equity capital Reserves losses Consolidated $'000 $'000 $'000 $'000 Balance on incorporation 1 - - 1 Loss after income tax expense for the period - - (530) (530) Other comprehensive income for the period, net of tax - - - - Total comprehensive income for the period - - (530) (530) Transactions with owners in their capacity as owners: Contributions of equity, net of transaction costs (note 13) 17,452 - - 17,452 Share-based payments (note 27) - 68 - 68 Balance at 30 June 2026 17,453 68 (530) 16,991 The above consolidated statement of cash flows should be read in conjunction with the accompanying note Eastern Gas Corporation Limited Consolidated statement of cash flows For the period ended 30 June 2026 Consolidated Note 8 months ended 30 June 2026 $'000 Financial Report for the year ended 30 June 2026 17 Cash flows from operating activities Payments to suppliers and employees (inclusive of GST) (1,281) Interest received 34 Net cash used in operating activities 25 (1,247) Cash flows from investing activities Payments for exploration and evaluation assets (567) Net cash used in investing activities (567) Cash flows from financing activities Proceeds from issue of shares 13 5,500 Share issue transaction costs (547) Net cash from financing activities 4,953 Net increase in cash and cash equivalents 3,139 Cash and cash equivalents at the beginning of the financial period - Cash and cash equivalents at the end of the financial period 7 3,139 The above consolidated statement of cash flows should be read in conjunction with the accompanying notes Eastern Gas Corporation Limited Notes to the consolidated financial statements 30 June 2026 Financial Report for the year ended 30 June 2026 18 Note 1. Material accounting policy information The accounting policies that are material to the consolidated entity are set out either in the respective notes or below. Basis of preparation These general purpose financial statements have been prepared in accordance with Australian Accounting Standards and Interpretations issued by the Australian Accounting Standards Board ('AASB') and the Corporations Act 2001, as appropriate for for-profit oriented entities. These financial statements also comply with IFRS Accounting Standards as issued by the International Accounting Standards Board ('IASB'). The company was incorporated on 29 October 2025. Accordingly, these financial statements cover the period from 29 October 2025 to 30 June 2026. As the company was incorporated during the financial year, there are no comparative amounts presented for the prior period. Historical cost convention The financial statements have been prepared under the historical cost convention. Critical accounting estimates The preparation of the financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the consolidated entity's accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements, are disclosed in note 2. Going concern The financial statements have been prepared on the going concern basis, which assumes the realisation of assets and extinguishment of liabilities in the normal course of business at the amounts stated in the financial report. The consolidated entity recorded a loss after tax of $530,000 and h