Announcement PDF Annual Report 2025 Strike is a trailblazer in the Australian energy landscape, focused on creating value for our shareholders and the community through our projects. Contents 01 02 01 About Strike 4 About this Report 4 Key Statistics 5 FY25 Highlights 5 02 Letter from the Chair 6 03 Managing Director’s Report 8 04 Operations and Project Overview 10 05 Directors’ Report 25 Reserves and Resources 29 Operating and Financial Review 31 Remuneration Report 39 Auditor's Independence Declaration 54 Directors’ Declaration 55 Financial Report 56 Consolidated Financial Statements 57 Notes to Financial Statements 61 Independent Auditor's Report 103 Additional Securities Exchange Information 108 Corporate Directory 110 06 07 03 04 05 06 07 Important Notices Forward Looking Statements STRIKE ENERGY LIMITED | AN N UAL R EPORT 2025 Statements contained in this Report, including but not limited to those regarding the possible or assumed future costs, projected timeframes, performance, dividends, returns, revenue, exchange rates, potential growth of Strike, industry growth, commodity or price forecasts, or other projections and any estimated company earnings are or may be forward looking statements. Forward looking statements can generally be identified by the use of words such as ‘project’, ‘foresee’, ‘plan’, ‘expect’, ‘budget’, ‘outlook’, ‘schedule’, ‘estimate’, ‘target’, ‘guidance’ ‘aim’, ‘intend’, ‘anticipate’, ‘believe’, ‘estimate’, ‘may’, ‘should’, ‘will’ or similar expressions. Forward looking statements including all statements in this document regarding the outcomes of preliminary and definitive feasibility studies, projections, guidance on future earnings and estimates are provided as a general guide only and should not be relied upon as an indication or guarantee of future performance. These statements relate to future events and expectations and as such involve known and unknown risks and significant uncertainties, many of which are outside the control of Strike. Actual results, performance, actions and developments of Strike may differ materially from those expressed or implied by the forward-looking statements in this Report. Such forward-looking statements speak only as of the date of this document. Refer to the risk factors starting on page 31 for a summary of certain general and Strike Energy specific risk factors that may affect Strike Energy. There can be no assurance that actual outcomes will not differ materially from these statements. Investors should consider the forward looking statements contained in this Report in light of those disclosures. To the maximum extent permitted by law (including the ASX Listing Rules), Strike and any of its affiliates and their directors, officers, employees, agents, associates and advisers disclaim any obligations or undertaking to release any updates or revisions to the information in this document to reflect any change in expectations or assumptions; do not make any representation or warranty, express or implied, as to the accuracy, reliability or completeness of the information in this document, or likelihood of fulfilment of any forward-looking statement or any event or results expressed or implied in any forward‑looking statement; and disclaim all responsibility and liability for these forward-looking statements (including, without limitation, liability for negligence). Nothing in this Report will under any circumstances create an implication that there has been no change in the affairs of Strike since the date of this document. 3 01 About Strike ABOUT STRIKE Strike Energy Limited (ASX:STX) is an independent Australian energy company focused on unlocking the Perth Basin’s high-quality conventional gas resources. As Western Australia’s first new supplier of onshore gas since 2013, Strike is also advancing a portfolio of projects that will deliver sustainable, low-cost and reliable energy to support the State’s industry, economic growth and transition away from coal-fired power. 02 03 04 Our ambition is to become Australia’s lowest-cost onshore energy producer and a key enabler of Western Australia's decarbonisation journey. 05 06 07 About this Report The 2025 Corporate Governance Statement can be viewed on our website on the Corporate Governance page. An electronic version of this report is available on Strike’s website www.strikeenergy.com.au. STRIKE ENERGY LIMITED | AN N UAL R EPORT 2025 This 2025 Annual Report is a summary of Strike’s operations, activities and financial position for the 12-month period ended 30 June 2025. In this report, unless otherwise stated, references to ‘Strike’, the ‘company’, ‘we’, ‘us’ and ‘our’ refer to Strike Energy Limited and its subsidiaries. The Glossary defines terms used in this report. This report contains forward-looking statements. Please refer to page 3, which contains a notice in respect of these statements. All references to dollars, cents or $ in this document are to Australian currency, unless otherwise stated. Due to rounding, figures and ratios in tables and charts throughout this report may not reconcile to totals. An electronic version of this report is available on Strike’s website www.strikeenergy.com.au. 4 Key Statistics1 FY24 FY25 01 Reserves & Resources Overview (PJ) ABOUT STRIKE 316 2P 270 391 2C 249 02 707 Total 519 0 100 200 300 400 03 500 600 700 800 04 Production Overview (PJ) 05 7 Production 9 0 2 4 6 8 06 10 07 FY25 Highlights Total Sales Revenue Plant Reliability ~$86m Refreshed Final Investment Decision taken and construction commenced at the 85 MW South Erregulla Peaking Power Plant $217m ~$73m Strategic Investment by Carnarvon Energy Ltd executed subsequent to end of financial year >99% Management team STRIKE ENERGY LIMITED | AN N UAL R EPORT 2025 financing facility executed with Macquarie Bank² 1 Refer to page 30 for important information regarding oil and gas reserve and resource estimation. Current at 1 July 2025. 2 See ASX announcement released on 31 March 2025 titled “Finance Facility Executed & South Erregulla Breaks Ground” for more information. 5 Letter from the Chair 01 02 FY25 was a pivotal year in Strike’s evolution. Following a comprehensive Strategic Review, we have sharpened our focus on advancing our most value-accretive, near term cash-generating assets at Walyering, South Erregulla and West Erregulla, under an integrated gas and power generation strategy that aligns with the needs of Western Australia’s rapidly transitioning energy system. This disciplined pivot was driven not only by our ambition to generate reliable returns for shareholders, but also through recognition of the persistent disconnect between the quality of our portfolio and our share price performance. The Board shares the frustration this has caused, and we remain determined to close this valuation gap through delivery, financial discipline, and strategic clarity. CHAIRMAN’S LETTER Dear Shareholders, 03 04 05 06 07 Our conviction in Strike’s assets and their relevance to the State’s energy future has never been stronger. As coal exits the grid and demand for firming capacity accelerates, our portfolio is uniquely positioned to deliver both reliable domestic gas and low-carbon, dispatchable power into the South West Interconnected System. This dual capability ensures Strike can meet the State’s industrial energy needs while also supporting electricity market reliability, giving us flexibility to capture value across both molecules and electrons as WA’s energy transition gathers pace. Throughout the year, we made substantial operational and strategic progress: • Walyering continued to perform strongly, delivering steady production of 25 TJ/d and material cash flows. Field decline is being addressed, with compression and cooling projects progressing to maximise field life and value, and with the Walyering-West exploration well planned for Q3 FY26 with the objective of proving up additional gas resources. STRIKE ENERGY LIMITED | AN N UAL R EPORT 2025 While we are resolutely focused on delivering cash flow from our core assets, we are equally committed to preserving Strike’s entrepreneurial DNA as a leading Perth Basin explorer. Our approach to exploration has evolved, remaining active, but with greater discipline. We will pursue only the highest‑quality, best-aligned opportunities, those with clear pathways to commercialisation, infrastructure access, and strategic fit with our integrated model. 6 01 02 • West Erregulla and Erregulla Deep advanced with the successful drilling and testing of Erregulla Deep and completion of the Natta 3D seismic which will inform the pending reserves and resource update to underpin FID planning and downstream development options, including potential gas-to-power expansion and potential for third-party gas processing. • Seismic acquisition and interpretation at Ocean Hill and our eastern Permian acreage, including the Arrino-Kadathinni complex, confirmed significant prospectivity, which supports further exploration and appraisal. This prospectivity is located in acreage that is 100% owned and operated by Strike and provides the portfolio with fantastic depth and running room. Importantly, we also took steps to strengthen our balance sheet and financial resilience. The strategic investment by Carnarvon Energy provides a clear funding pathway for priority developments. Our renewed financing facilities with Macquarie further support disciplined execution. FY25 also marked a leadership transition, with Peter Stokes appointed Managing Director and CEO, and Tim Cooper joining as CFO and Company Secretary. Under Peter’s leadership, Strike is entering a new chapter, one defined by execution, accountability and value creation. As we look to FY26, the broader market fundamentals continue to support Strike’s strategy. The State Government’s $7 billion commitment to energy infrastructure and transmission upgrades, coupled with AEMO’s forecast supply shortfalls, reaffirm the need for fast, flexible and local energy solutions. Strike is ideally placed to help meet that demand. Finally, I want to express my sincere thanks to our shareholders. We understand that trust must be earned through delivery, not words. We believe we now have the right strategy, people, and capital to realise the full potential of our asset base, and to translate that into long-term value for all stakeholders. CHAIRMAN’S LETTER • South Erregulla entered construction, with the 85 MW peaking gas power station tracking toward completion by 1 October 2026. This project reflects our integrated gas-to-power strategy, where reliable gas supply, WA Government‑backed capacity payments and exposure to peak electricity pricing will combine to deliver superior returns. 03 04 05 06 07 Yours sincerely, John Poynton AO Chair – Strike Energy Limited STRIKE ENERGY LIMITED | AN N UAL R EPORT 2025 7 Managing Director’s Report 01 02 03 FY25 has been a year of transition, consolidation and renewed focus for Strike. Having recently joined the company, I am pleased to present this year’s Managing Director’s Report and to share my perspectives on Strike’s achievements and trajectory. I’m excited to lead a business with a strong asset base and a clear strategic focus, underpinned by a diverse and high-potential portfolio of gas and gas‑to‑power opportunities in the Perth Basin. This past year, Strike undertook a Board-led Strategic Review, an important and necessary process that has culminated in a clear set of strategic priorities: a focus on near term cash flow generation, value delivery, and the disciplined development of our integrated energy business. At a time when energy markets in Western Australia are grappling with rising demand, constrained gas supply and the imminent retirement of coal, Strike’s assets and strategy are well aligned with the State’s needs. We are developing the right projects in the right locations, and we are doing so with a sharp focus on commercial outcomes and capital discipline. MANAGING DIRECTOR’S REPORT Dear Shareholders, 04 05 06 07 Performance Highlights Strike delivered record full-year production and revenue in FY25. Total production increased 62% to 9.2 PJe, with Walyering providing stable daily throughput of 25 TJ/day and strong condensate yields. Revenues rose to $72.7 million, up 59% year-on-year, underpinned by consistent operational performance. At the same time, we reduced capital intensity through prioritisation of development-ready assets, refinanced and expanded our borrowing facilities, providing improved liquidity, and post the reporting period, attracted a strategic investment of approximately $86 million from Carnarvon Energy to underpin our next phase of growth. • Walyering remains the cornerstone of our cash flow base. FY25 production was stable, with compression and heat management upgrades underway to mitigate field decline and extend the life of the field. At year end, our annual reserves review resulted in a reduction of certified reserves and a corresponding non-cash impairment, which has been recognised in the financial results. We also advanced planning for Walyering West near-field exploration drilling, which on success could mitigate field decline seen over the past year of production. STRIKE ENERGY LIMITED | AN N UAL R EPORT 2025 Core Asset Progress 8 01 02 03 • West Erregulla and the nearby Erregulla Deep discovery continue to mature. The integration of the Natta 3D seismic survey is now complete, and updated reserves and resources certification is underway. The recent grant of Production Licence L26 further strengthens the project’s development position, and Strike is currently defining the optimal development pathway for this resource. • Ocean Hill progressed towards being drill ready, with the recent 3D seismic acquisition and interpretation highlighting significant prospectivity across the entire block and providing integral subsurface delineation which will inform the appraisal program earmarked for the second half of CY2026. Exploration with Discipline In parallel, we've streamlined our executive structure to support a more focused and delivery-oriented operating model. With the appointment of Tim Cooper as Chief Financial Officer and Company Secretary, and the support of an experienced and capable team across technical, operational and commercial functions, Strike is now well positioned to execute its priorities with discipline and accountability. 04 Looking Ahead 05 FY26 will be about disciplined execution and delivery. Our focus is clear: • Deliver South Erregulla power station construction to plan; 07 • Advance West Erregulla toward FID; • Optimise cash flows from Walyering and secure reserves replacement; • Progress high-conviction exploration targets in Ocean Hill and the eastern Perth Basin; • Continue to align Strike’s capabilities with the long-term needs of the WA energy system. I would like to thank our shareholders, employees, joint venture partners and the broader community for your continued support. Strike has the people, the projects and the capital to be a key enabler of Western Australia’s energy transition. I look forward to updating you on our progress throughout the year and reporting back next year with tangible delivery and stronger returns. Yours sincerely, Financial Strength & Governance We enter FY26 with $76 million in liquidity consisting of $41 million in cash and cash equivalents, and $35 million of undrawn debt, along with access to $88 million in committed debt facilities to support our near-term execution. Our financial position has been further strengthened post the reporting period via a two-tranche strategic equity placement to Carnarvon 06 Peter Stokes Managing Director and Chief Executive Officer STRIKE ENERGY LIMITED | AN N UAL R EPORT 2025 While we are now clearly focused on capital-efficient development, exploration remains an important part of Strike’s value proposition, particularly where it supports future cash flow and scale. Along with progressing Ocean Hill, FY25 saw the interpretation of the Kadathinni 2D seismic, which looks highly prospective and provides natural potential backfill to both Strike and third-party infrastructure in the Perth Basin. Moving forward, our exploration program will be targeted, data-driven, and aligned with infrastructure proximity and strategic relevance. which will provide up to an additional $86 million in liquidity. MANAGING DIRECTOR’S REPORT • South Erregulla reached major milestones with construction of the 85 MW peaking gas power station progressing on target for an online date of 1 October 2026. Post the reporting period, the engine hall structure is nearing completion and the first Jenbacher engines will begin arriving on site in the coming weeks. This integrated gas-to-power project is underpinned by Reserve Capacity Credits and will deliver long-life, highmargin revenues from Q4 CY2026 onwards. 9 01 02 03 04 OPERATIONS & PROJECT OVERVIEW Operations and Project Overview 3 05 2 06 07 Perth Basin Permits Gas Fields 4 Strike Permits 0 5 10 20 Kilometers Perth 5 1 STRIKE ENERGY LIMITED | AN N UAL R EPORT 2025 WESTERN AUSTRALIA 10 01 1 Walyering Walyering is 100% owned and operated by Strike. Originally discovered in 1971, Strike appraised the field in 2021, making a material discovery with the Walyering-5 well. Within 22 months, Walyering became Strike’s maiden producing asset. Brought online in September 2023, the field has produced a total of 16 PJ into Western Australia's domestic gas market. Current production indicates the field is declining quicker than expected. Independent certifiers have assessed the field to contain net ~14 PJ of 2P Reserves³ after produced volumes. The reserves reduction has resulted in an impairment being recognised which is disclosed further in note 4.2 on page 78. 2 South Erregulla Discovered by Strike in 2022, South Erregulla is 100% owned and operated within production licence L24. South Erregulla holds an independently certified net 2P Reserve of 45 PJ and net 2C Resource of 37 PJ⁴, which will provide more than 20 years of reserves coverage for Strike’s proposed 85 MW peaking gas power plant⁵ to be constructed on the Strike owned Precinct. SEE PAGE 15 FOR MORE INFORMATION 03 04 OPERATIONS & PROJECT OVERVIEW SEE PAGE 14 FOR MORE INFORMATION 02 05 06 3 West Erregulla 07 Discovered by Strike in 2019, West Erregulla is Strike’s flagship project, with 50% equity and operatorship of production licence L25 and L26. West Erregulla holds an independently certified net 2P Reserve of 211 PJ and net 2C Resource of 15 PJ.⁶ Strike also made the Erregulla Deep discovery immediately to the East of West Erregulla which has recently been covered by 3D seismic and an update to the Reserves and Resources in L25 and L26 is currently underway, with results expected in December 2025. SEE PAGE 17 FOR MORE INFORMATION 4 Ocean Hill Ocean Hill is 100% owned and operated by Strike. Discovered in 1991, Ocean Hill was drilled to test the Jurassic play that has since been proven at Walyering. Since the success at Walyering, Strike has acquired 3D seismic over the EP495 block and RISC have independently certified net 180 PJ of 2C Resources within the Ocean Hill structure⁷ and additional significant prospectivity within the adjacent Ocean Hill South structure⁸. SEE PAGE 18 FOR MORE INFORMATION Perth Situated on Kings Park Road, West Perth is home to Strike’s corporate headquarters and remote operations centre. 3 Refer to page 30 for important information regarding oil and gas reserve and resource estimation. 4 Refer to footnote 3. 5 Project life modelled on average throughput of ~1.3 PJ per annum. Refer to ASX announcement “Peaking Power Plant submission supported by South Erregulla” dated 24 June 2024 for key assumptions and information relating to the project. 6 Refer to footnote 3. 7 Refer to footnote 3. 8 Refer to footnote 3. STRIKE ENERGY LIMITED | AN N UAL R EPORT 2025 5 11 01 02 03 04 OPERATIONS & PROJECT OVERVIEW 05 06 Strike holds one of the most strategically significant positions in the onshore Perth Basin, spanning both the proven Permian gas play in the north and the producing Jurassic wet-gas play in the south. This unique footprint underpins our integrated portfolio of gas and gas-to-power developments, with reserves anchored by the Greater Erregulla fields (256 PJ, net to Strike) and complemented by the producing Walyering gas field (14 PJ remaining, net to Strike). The portfolio is further underpinned by significant growth potential, with ~250 PJ of 2C Resources across the Basin and very large 2U Prospective Resources identified in both plays, providing Strike with substantial running room for future growth.⁹ Operational delivery during FY25 was led by steady, high-reliability production from Walyering, which averaged ~25 TJ/d of gas with plant availability of 97% inclusive of planned maintenance. This production base continues to generate cash flow and provide invaluable operating experience as we expand. 9 07 Meanwhile, Strike completed the Natta 3D seismic survey, providing modern high-resolution data across West Erregulla and Erregulla Deep to inform future development. In parallel, construction is advancing at pace on the 85 MW South Erregulla Peaking Power Station, located on Strike’s 100%-owned Precinct landholding. This project will directly link our upstream reserves to WA’s primary electricity grid, delivering fast-start, flexible generation to support reliability as the State transitions away from coal. Together, these activities showcase Strike’s distinctive capability: combining high-quality upstream gas resources with low-cost gas processing and integrated power developments to deliver reliable, affordable and lower-carbon energy to Western Australia. With a basin-leading asset base and a clear integrated strategy, Strike is positioned as both a critical enabler of the State’s energy transition and a long-term leader in its energy supply. Refer to page 30 for important information regarding oil and gas reserve and resource estimation. STRIKE ENERGY LIMITED | AN N UAL R EPORT 2025 The map opposite highlights Strike’s commanding acreage position across the Basin, a region that also hosts some of WA’s largest onshore gas fields, including Waitsia, Lockyer and Beharra Springs. With these resources and our infrastructure advantage, Strike is positioned at the heart of Western Australia’s energy system. Exploration and appraisal added material momentum across the portfolio. The Erregulla Deep-1 well confirmed a high-quality, low-impurity gas discovery with exceptional flow rates – one of the best wells drilled in the Perth Basin to date. At Walyering, the Walyering East well was drilled safely and encountered net gas pay, with testing to determine commerciality. 12 01 02 03 04 OPERATIONS & PROJECT OVERVIEW 05 06 07 STRIKE ENERGY LIMITED | AN N UAL R EPORT 2025 13 Walyering 01 02 03 Asset Description The Walyering gas field continued to deliver stable production through FY25, averaging ~25 TJ/d of firm contracted sales gas and ~164 bbl/d of condensate. This production generated strong cash flow and maintained >97% plant uptime including planned maintenance periods. Post the second year of production, including the first year of production from the Walyering-7 well, Strike completed a review of its Reserves and Resources at the Walyering gas field. Independent certifiers RISC Advisory certified net 13.6 PJ of 2P Reserves and 16.7 PJ of 2C Resources (FY24: 38.5 PJ of 2P Reserves and 15.6 PJ of 2C Resources).¹⁰ The reserves reduction has resulted in an impairment associated with non-current assets which is disclosed further in note 4.2 on page 78. 04 FY26 Focus 05 • Delivered 25 TJ/d gas sales into firm offtake agreements • Plant reliability of >99% • Nearfield exploration and appraisal drilling (Walyering-West) • Install compression and other field extension works. OPERATIONS & PROJECT OVERVIEW Acreage Description The Walyering gas field sits in Production Licence L23 and is surrounded by Exploration Licence EP 447, which are operated and owned 100% by Strike. The field is situated approximately 150 km north of Perth near the town of Cataby in the Mid West. FY25 Highlights 06 07 Production Total production of 8.9 PJ of sales gas and ~60 kbbl of condensate. The Walyering gas plant operated steadily at average rates of 25 TJ/ day to fulfil firm gas offtake agreements. Exploration and Appraisal Post the reporting period, Strike announced it intends to drill the Walyering West-1 well to test a near-field exploration target ~2km to the west of the successful Walyering-5 well. On success, Walyering East may be production tested in conjunction with Walyering West and considered in a joint tie-in to the production facility. 10 Refer to page 30 for important information regarding oil and gas reserve and resource estimation. STRIKE ENERGY LIMITED | AN N UAL R EPORT 2025 During the reporting period the Walyering East-1 near-field exploration well was drilled to a total depth of 3,858 metres and intersected 13 metres of net pay in the lower D sands within the Cattamarra Formation. The outcome was below expectations, and the well was suspended, with well testing postponed. 14 South Erregulla 01 02 03 FY25 Highlights FY26 Focus • Enter commissioning phase of 85 MW peaking gas power plant Acreage Description The South Erregulla field sits within L24, which is owned and operated 100% by Strike. It is situated approximately 350 km north of Perth near the town of Dongara in the Mid West. L24 sits to the west and directly adjacent to Strike 100% owned EP 503 and south of Strike’s 50% owned EP 469, which contains the West Erregulla gas field. Asset Description South Erregulla was discovered by Strike in 2022 after acquiring and interpreting the Maior 2D seismic survey and the drilling of the South Erregulla-1 exploration well. The well discovered 14m of net pay in the Permian aged Kingia Sandstone, as well as 4m of net pay in the basal Wagina Sandstone. In 2023, two unsuccessful appraisal wells were drilled into the field resulting in a reduction in volume and reclassification of part of the reserves and resources of the field. 2P Reserves of net 45 PJ and 2C Contingent Resources of net 37 PJ¹¹ in both the Kingia and Wagina sandstones (100% Strike), were independently certified by Netherland, Sewell and Associates Inc. (NSAI) in 2024. OPERATIONS & PROJECT OVERVIEW • FID taken and construction commenced on 85 MW Peaking Gas Power Plant 04 05 06 07 Development At financial year end, overall project completion stood at ~42%, with major equipment procurement secured under fixed-price contracts and site works continuing. The forecast capital cost has been revised to $184 million, reflecting expanded transmission connection scope. Strike has secured long-term financing with Macquarie Bank and the first well workover at South Erregulla-1 to prepare 11 Refer to page 30 for important information regarding oil and gas reserve and resource estimation. STRIKE ENERGY LIMITED | AN N UAL R EPORT 2025 Following the Final Investment Decision taken in November 2024, construction of the 85 MW South Erregulla Peaking Gas Power Station is now underway. Earthworks and civil foundations were completed early in 2025, with construction of the engine room shed and supporting infrastructure progressing on schedule. The project, located on Strike’s 100%-owned Precinct above the South Erregulla gas field, will be fuelled by Strike’s independently certified 2P Reserves of 45 PJ and is designed to provide firming power into the South West Interconnected System from October 2026. 15 SOUTH ERREGULLA 01 02 03 04 Carbon Capture and Storage (CCS) South Erregulla retains a previously independently certified ~4.8 million tonnes of CO₂ storage capacity within the Jurassic sandstones¹². While the absence of an identified CO₂ source following the cessation of Project Haber means the storage no longer qualifies as a Contingent Storage Resource under SRMS, the subsurface capacity remains intact and could provide a valuable future option should a new industrial source of carbon dioxide be identified. 12 The Mid West Low Carbon Precinct Asset Description Strike’s 3,500-hectare freehold landholding, known as the Mid West Low Carbon Precinct, is a strategically located site that underpins the Company’s integrated gas and power strategy. Situated directly above the South Erregulla gas field and adjacent to key transmission infrastructure, the Precinct offers a unique platform for the staged development of energy projects. The scale and location of the land parcel provide optionality for future expansion of gas-to-power facilities and the co-development of renewable generation, storage, and low-carbon initiatives. With cleared farmland, surveyed transmission corridors, and direct access to the South West Interconnected System, the Precinct has the potential to evolve into a significant regional energy hub, capable of supporting Western Australia’s transition away from coal and meeting growing electricity demand. OPERATIONS & PROJECT OVERVIEW for gas supply is underway. Once complete, the project will deliver reliable, lower-carbon peaking electricity capacity to support Western Australia’s energy transition. 05 06 07 Refer to ASX announcement on 15 June 2023 entitled "South Erregulla Update" for more information. STRIKE ENERGY LIMITED | AN N UAL R EPORT 2025 16 West Erregulla & Erregulla Deep 01 02 03 FY25 Highlights Acreage Description The West Erregulla field sits within L25 which is operated and owned 50% by Strike,