Announcement PDF March 2026 UNLOCKING NEW EAST COAST GAS SUPPLY Disclaimer Extent of Information This document has been prepared by Eastern Gas Corporation Ltd (“Company”). This Presentation, including the information contained in this disclaimer, does not constitute an offer, invitation or recommendation to subscribe for or purchase any security and neither the Presentation, disclaimer not anything contained in such forms the basis of any contract or commitment. This Presentation does not take into account your individual investment objective, financial situation or particular needs. You must not act on the basis of any other matter contained in this Presentation but must make your own assessment of the Company. No representation, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information contained in this Presentation, including the accuracy, likelihood of the achievement or reasonableness of any forecast, prospects, returns or statements in relation to future matters contained in the Presentation (“Forward-looking statements”). Any such forward-looking statements that are contained in this Presentation or can be implied by the same are by their nature subject to significant uncertainties and contingencies associated with the oil and gas industry and are based on a number of estimates and assumptions that are subject to change (and in many cases are outside the control of Eastern Gas and their directors) which may cause the actual results or performance of Eastern Gas to be materially different from any future results or performance expressed or implied by such forward-looking statements. To the maximum extent permitted by law, none of Eastern Gas’ related corporations, directors, employees, agents nor any other person accepts any liability, including without limitation arising from fault or negligence, for any loss arising from use of this Presentation or its content or otherwise arising in connection with it. Exclusion of Financial Product Advice This Presentation is for information purposes only and is not a prospectus or other offering under Australian law or under any others laws in the jurisdictions where the Presentation might be available. Nothing herein constitutes investment, legal, tax or other advice. This Presentation is not a recommendation to acquire shares and has been prepared without taking into account the investment objectives, financial situation or needs of individuals. Dates Any future dates mentioned in the presentation are a guide only and subject to change without notification. There are a range of factors and many of them are outside the Company’s control. No reliance should be made on the publication of a particular date. Independent Advice You should consider the appropriateness of the information having regard to your own objectives, financial situation and needs and seek appropriate advice, including, legal and taxation advice appropriate to your jurisdiction. Geological Information The geological information in this presentation relating to geological information and resources is based on information compiled by Mr Spring, who is a Member of Petroleum Exploration Society of Australia and has sufficient experience to qualify as a Competent Person. Mr Spring consents to the inclusion of the matters based on his information in the form and context in which they appear. The information related to the results of drilled petroleum wells has been sourced from the publicly available well completion reports. The Company has used a conversion factor of 1.05 to convert Bcf amounts to PJs equivalent. The Company has aggregate total estimates of 918.8 Bcf contingent gas resources (3C) AND 2.3 Tcf prospective gas resources (best-case estimate). These totals are a sum of the contingent and prospective gas resources estimates of the Windorah gas project (contingent resources of 770 Bcf (3C), 330 Bcf (2C) and 118 Bcf (1C), prospective resources of 1.76 Tcf (best-case estimate)), the Venus Gas Project (contingent resources of 157.9 Pj (3C), 130.3 Pj (2C) and 87.7 Pj (1C), prospective resources of 536 Pj (best-case estimate)). Cautionary Statement: The estimated quantities of petroleum that may potentially be recovered by the application of a future development project(s) relate to undiscovered accumulations. These estimates have both a risk of discovery and a risk of development. Further exploration appraisal and evaluation is required to determine the existence of a significant quantity of potentially recoverable hydrocarbons. Note 1 – As reported in the Company’s announcement dated 4 May 2021, the Project Venus contingent gas resources estimates are 1C 87.7 Pj, 2C 130.3 Pj and 3C 157.9 Pj with remaining prospective gas resources of 536 Pj (best-case estimate). In connection with the above estimates, the Company refers to the announcement by Real Energy Corporation Limited (ASX:RLE), a predecessor of the Company that delisted from the ASX on 25 March 2021. Note 2 – The Contingent resources is a summary of 2 reports for the Windorah Gas Project. One estimate prepared by DeGolyer and MacNaughton, a leading international petroleum industry consulting firm in June 2015 in respect of the Queenscliff Area and one estimate prepared by Aeon Petroleum Consultants in respect of the Tamarama area completed in August 2019. The prospective resources estimate of 1.76 Tcf (is based on the work by DeGolyer and MacNaughton adjusted for the permit that was relinquished by the Company with a recovery factor of 40% applied to Original-Gas-In-Place resources of 4.4Tcf) Forward-Looking Statements: This presentation may contain ‘forward looking statements’ concerning the financial conditions, results of operations and business of the Company. All statements other than statements of fact are or may be deemed to be ‘forward looking statements’. Often, but not always, ‘forward looking statements’ can be identified by the use of forward looking words such as ‘may’, ‘will’, ‘expect’, ‘intend’, ‘plan’, ‘estimate’, ‘anticipate’, ‘continue’, ‘outlook’, and ‘guidance’ or other similar words, and may include, without limitation, statements regarding plans, strategies and objectives of management, future or anticipated production or construction commencement date and expected costs, resources and reserves, exploration results or production outputs. Forward looking statements are statements of future expectations that are based on management’s current expectations and assumptions, but known and unknown risks and uncertainties could cause the actual results, performance or events to differ materially from those expressed or implied in these statements. These risks include, but are not limited to, price fluctuations, actual demand, currency fluctuations, drilling and production results, resource and reserve estimates, loss of market, industry competition, environmental risks, physical risks, legislative, fiscal and regulatory developments, economic and financial market conditions in various countries and regions, political risks, project delay or advancement, approvals and cost estimates. To the maximum extent permitted by law, Eastern Gas and their respective affiliates, related bodies corporate, officers, employees, partners, agents and advisers make no representation or warranty (express or implied) as to the currency, accuracy, fairness, sufficiency or completeness of the information contained in this presentation and expressly disclaim all responsibility and liability for any loss or damage arising in respect of any reliance of the accuracy, fairness, sufficiency or completeness of the information contained in this presentation, or any opinions or beliefs contained in this document. The Company is under no obligation to update or keep the information contained in this presentation current, or to correct any inaccuracy or omission which may become apparent, or to furnish any person with any further information. 2 Investment Highlights Experienced team with 40+ years upstream expertise Compelling exposure to East Coast gas supply tightness 100% owned strategic gas assets in the Surat and Cooper Basins Drilling catalysts in Q2 2026 ~479 PJ* (2C) and ~970 PJ (3C)* certified gas resources Located near major infrastructure and gas hubs 3 *Source: Page 2 and Technical Section of the Replacement Prospectus dated 12 December 2025 Gas Market Opportunity • Three converging forces: • Declining output from legacy southern basins • LNG exports linking domestic gas prices to global markets + supply short fall • Policy shift toward energy security and domestic supply • ACCC forecasts domestic supply shortfall from ~2027 • Strong demand from power generation and industry • Long-term LNG netback pricing expected at: • $10–15/GJ through 2030 New gas supply is required ➔ favourable for well-positioned smaller cap explorers and developers Previously marginal projects now economic 4 ^ AEMO Gas Statement of Opportunities Marcg 2025 (Source:https://www.aemo.com.au//media/files/gas/national_planning_and_forecasting/gsoo/2025/2025- gas-statement-of-opportunities.pdf?rev=209c6536e82a4be9aec35360d93f272b&sc_lang=en) * Average daily ex ante gas prices by quarter for each STTM hub (Source: https://www.aer.gov.au/industry/registers/charts/sttm-quarterly-prices) 0 5 10 15 20 25 30 35 Sep-10 Apr-11 Nov-11 Jun-12 Jan-13 Aug-13 Mar-14 Oct-14 May-15 Dec-15 Jul-16 Feb-17 Sep-17 Apr-18 Nov-18 Jun-19 Jan-20 Aug-20 Mar-21 Oct-21 May-22 Dec-22 Jul-23 Feb-24 Sep-24 Apr-25 Adelaide Brisbane Sydney STTM Quarterly Prices Sep-10 to Sep-25 (A$/GJ)* Expected LNG netback pricing through to 2030 Long-term supply outlook^ East Coast Gas Market Entering Structural Supply Deficit Small Cap Gas: Increasing Strategic Importance 5 Strategic Basin Exposure Structural leverage to Gas Market Capital & Strategic Interest Returning • Acreage located in infrastructure connected gas basins • Positioned in evolving or low risk proven plays • High torque to domestic gas pricing • Exposure to tightening east coast gas supply • Capital raisings and strategic placements accelerating • Increasing M&A and partnering activity Recent performance of onshore East Coast gas small caps (re-based to 100) 0 50 100 150 200 250 300 350 Aug-25 Sep-25 Oct-25 Nov-25 Dec-25 Jan-26 Feb-26 ASX Small Cap Index Lakes Blue Comet Ridge Omega Elixir Beetaloo Investor momentum reflects growing recognition that small-cap developers are key to Australia's future gas supply Eastern Gas Asset Overview Strategic gas assets across two prolific petroleum basins 6 EGA’s Interest (%) Resource Play Resources (PJ)* 2C 3C 2U ATP 2051 100 CSG 130 158 - ATP 927 100 BCG 348 812 1,900* Total ~479 ~970 • Located adjacent to Wallumbilla Gas Hub and Moomba processing and pipeline infrastructure • Access to domestic and export markets • Leveraged to additional commercialisation options * Based on 4.4TCF OGIP estimate and 40% recovery factor * Source: Page 2 and Technical Section of the Replacement Prospectus dated 12 December 2025 7 Project Venus (ATP 2051) – Surat Basin Located on the highly productive Walloon CSG fairway Highlights: • Certified Resources - 130 PJ (2C), 158 PJ (3C) • Adjacent to major producers Shell, APLNG, Senex • Over 10,000 wells drilled along the fairway Recent regional transactions demonstrate strong industry interest ➔ assets with 2P Reserves have traded between $1.15 to $2.30/GJ Date Acquirer Target Acq. value (A$M) Acq. multiple ($/GJ) Nov-23 CTP’s 50% in Range – 135PJ (2C) 12.5 0.09 Mar-22 Senex – 767 PJ (2P) 884 1.15 Jan-22 APLNG Fields – 34PJ (2P) 80 2.35 May-19 Ironbark – 129PJ (2P), 192PJ (3P) 231 1.79 (2P), 1.20 (3P) 4 3 2 1 4 3 2 1 • Venus-2H & -3H wells located in NE area of ATP 2051 • Objectives: • Demonstrate commercial gas flow rates • Convert Contingent Resources to Proven Reserves • Progress development pathway • Potential value re-rating on successful results 8 Top Upper Juanda Coal Depth (mGL) 2026 Catalysts Venus-2H, -3H Drill and flow test two horizontal wells Venus 2H Venus 1 Venus-2H, -3H well design schematic • 100% owned asset located in the prolific Cooper Basin • Strategic advantages: • 15-year Potential Commercial Area (PCA) awarded • Pipeline licence PPL2041 allowing connection to Santos Moomba infrastructure ➢ Santos and Beach have just taken FID on the $357m Moomba Central Optimisation project to unlock future production growth ➢ Santos and Beach successful bids in 2025 competitive bid round • Multiple commercialisation options: • Pipeline gas • Modular LNG • Hydrogen conversion * Based on estimated 4.4TCF Prospective Original Gas- In-Place (“OGIP”) and 40% recovery factor 9 Windorah Gas Project (ATP 927) Resources 2C (PJ) 3C (PJ) 2U Prospective* (PJ) 348 812 1,900 Large Basin-Centred Gas Opportunity Experienced Board and Management James Canning-Ure Extensive corporate leadership and capital markets experience NE. Chair David Spring 40+ years global upstream experience, former executive Senex, Maersk Oil, BHP MD & CEO Scott Brown MD Pure One, 30+ years public company leadership NED 10 Team with a proven track record of delivering oil and gas development projects • Our drilling and project management team brings decades of experience, having successfully delivered horizontal wells in Queensland since the 1990s, including extensive CSG in-seam drilling in the adjacent Bowen Basin ASX Ticker EGA Shares on issue 90m Share Price A$0.19 Market Cap A$17m Performance rights 9,000,000 Options on issue 9,309,167 options at 30c Cash (Feb-26) A$5.5m Corporate snapshot Substantial shareholder 69.4% EGA’s share price performance 0 100 200 300 400 500 600 700 800 0.00 0.05 0.10 0.15 0.20 0.25 Closing share price (A$) Daily traded volume (‘000s) ASX debut CONTACT P: +61 2 9955 4008 E: investor@easterngas.com.au www.easterngas.com.au David Spring P: +61 497 000 177 E: david.spring@easterngas.com.au