Announcement PDF Q2 FY24 Quarterly Report 29th January 2024 Drilling on the Precinct at South Erregulla Comments from Managing Director & CEO, Stuart Nicholls: “During Q2/24 Strike completed its first quarter of production operations, producing a gross total of 1.9 PJe, at $0.51 GJ, which generated significant positive cashflows. The quarter was also marked by completing the acquisition of Talon Energy and delivering appraisal success at South Erregulla whilst progressing both the South and West Erregulla developments.” Highlights Walyering • Walyering (L23) produced a total of 1.9 PJe of gas and condensate generating gross revenue for the L23 Joint Venture of $14.4 million (note STX now owns 100% of L23). • Nameplate capacity reached at 33 TJ/d and 265 bbls/d of condensate on 24 December 2023. • Strike and Alinta Energy WA Pty Ltd entered into a firm 100% take or pay gas sales agreement for a total of 3.4 PJ over ~2 years from February 2024. South Erregulla • Successful appraisal drilling at SE3 confirmed the continuity of the South Erregulla gas field to the Northwest with 13 metres net gas pay. Additionally, appraisal of the potential CO2 storage capacity, observed 75m of net reservoir. • Strike secured foundation firm gas sales agreements for a total of ~42 PJ which will underpin the bankability and development of the proposed Phase 1 development. • South Erregulla’s Phase 1 development received its Part IV primary environmental approval. Corporate 1 • During the quarter Strike completed its acquisition of Talon Energy Limited via Scheme of Arrangement consolidating 100% ownership of the Walyering gas field. • Strike paid down $6.7 million of its drawn debt with Macquarie Bank and finished the quarter with a liquidity position of ~$114 million ($67 million of cash and $47 million of committed, undrawn debt facilities), plus an uncommitted $80 million contingent debt facility for Strike’s South Erregulla domestic gas development 1. Uncommitted facility remains subject to lender credit approval. Strike Energy Limited ABN 59 078 012 745 www.strikeenergy.com.au P: +61 8 7099 7400 E: strike@strikeenergy.com.au Level 1, 40 Kings Park Road West Perth WA 6005 Key Performance Metrics Sep Q1 FY24 Dec Q2 FY24 Qtr on Qtr change FY23 YTD FY24 YTD Change (PJe net) 0.05 1.89 1.84 0 1.94 1.94 (PJe net) 0.03 1.04 1.01 0 1.07 1.07 0.38 14.39 14.02 0 14.77 14.77 0.21 7.92 7.71 0 8.13 8.13 Cash and cash equivalents 103.5 66.78 (36.71) 9.72 66.78 57.06 Undrawn debt 46.75 46.75 - 6.75 46.75 40 Total Liquidity 150.2 113.5 (36.7) 16.47 113.5 97.06 A$ million unless indicated Sales volume (gross) Sales volume (net to Strike) Sales revenue (gross) 2 Sales revenue (net to Strike) Note: Net to Strike is at 55% equity until 31 Dec 2023. Due to rounding, figures and ratios throughout this report may not reconcile. Production Sep Q1 FY24 Dec Q2 FY24 Qtr on Qtr change FY23 YTD FY24 YTD Change PJ 0.05 1.81 1.75 0 1.86 1.86 PJ 0.03 0.99 0.96 0 1.02 1.02 kbbl 0.29 14.6 14.31 0 14.89 14.89 kbbl 0.16 8.03 7.87 0 8.19 8.19 Total production (gross) PJe 0.05 1.89 1.84 0 1.94 1.94 Total production (net to Strike) PJe 0.03 1.04 1.04 0 1.07 1.07 MMboe 3 0.01 0.31 0.31 0 0.32 0.32 Production by product Sales gas (gross) Sales gas (net to strike) Condensate (gross) Condensate (net to strike) Total production (gross) Note: Net to Strike is at 55% equity until 31 Dec 2023. Walyering (L23, STX previously 55% now 100% and operator) 2 • The Walyering gas field produced a total of 1.9 PJe of gas and condensate for the quarter or approximately 20 TJ/d of sales gas and 159 bbls of condensate. • Production above the firm offtake of 20 TJ/d was intermittent due to several episodes of downstream maintenance on the Parmelia Gas Pipeline, which limited deliveries into Strike’s existing marketing arrangements, and lower customer nominations during the seasonal shoulder season for electricity generation. • Upstream performance of the field has been observed to be within the range of expectations and to have a slightly higher heating value resulting in an increased energy conversion from volume (mmscf to TJ). • Strike successfully delivered 33 TJ from the Walyering gas field into the WA domestic gas market on 24 December 2023 demonstrating the upstream facility’s throughput capacity. • Having proven the ability to deliver additional firm offtake, Strike and Alinta Energy WA Pty Ltd entered into a 100% take or pay gas sales agreement for a total of 3.4 PJ delivered into the Parmelia Gas Pipeline over ~2 years starting in February 2024. Sales revenue includes gas banked and not taken or produced pursuant to the ‘Take or Pay’ contract with Santos WA Ltd. 3 Barrels of oil equivalent (boe) and petajoule (PJ) of gas are calculated on a 171,940 boe per PJ energy equivalence basis. The ratio does not reflect the relative commercial value of gas and oil-condensate. MMboe – million barrels of oil equivalent. 2 • Subsequent to the quarter end, the Walyering gas field has averaged 23 TJ/d and performed at a new peak rate of 34 TJ/d for 7 hours on the 23rd of January 2024 without incident before downstream restrictions forced customer renominations downward. Firm daily production rates will continue to increase upon commencement of the Alinta gas sales agreement. • Strike has completed reprocessing of the Walyering 3D seismic which has substantially improved the resolution of the field and nearby prospects. Strike is incorporating the new seismic along with the historical production data to conduct a Reserves and Resources review with RISC, which it expects to complete in the coming months. • Based on the improved nearfield prospectivity, Strike has commenced work in order to understand what is required to debottleneck the existing plant and what upgrades would be required to increase the Walyering production capacity to >40 TJ/d. This work has also been matched with engagements on sending Walyering gas into new markets to meet higher priced demand around the State. • Strike has spent much of the last quarter preparing for the Walyering-7 appraisal well, which is due to spud late March 2024. Post receiving the reprocessed Walyering 3D seismic, Strike has relocated the bottom hole location due to identifying attractive structural closure in a fault compartment to the northeast of Walyering-5. 3 WA Energy Market 4 • WA gas market conditions eased but remained elevated with a maximum WA spot price of $9.47/GJ during the quarter. It is important to note that, whilst this price is lower than the previous quarter, it is still significantly higher than historical pricing and reflects the consistent underinvestment that has reduced supply in both totality and diversity of sources. This was highlighted by the WA Department of Mines, Industry, Regulation and Safety (DMIRS) which made comment that 2023 was the lowest year for gas exploration in the State of WA for the last 25 years 4. • Perth (via the SWIS) set a new all-time maximum average operational demand record of 4,046 MW on 23 November 2023 which supersedes the previous high set in 2016 (by 800 MW) and reflects the increase in electricity demand across the economy. During peak electricity demand, gas made up 56% of the total fuel source at around 6:00pm in the evening. The quarter’s cost for electricity in WA averaged $98.35 MWh (equivalent to ~$9.83 GJ for gas). This price was the highest in the nation for the period. • During the quarter, the Australian Energy Market Operator (AEMO) released the WA Gas Statement of Opportunities 2023 (GSOO 2023). Key points of the report are: o The WA domestic gas market is projected to be in deficit between 2024 and 2029, with potential supply from committed and expected projects up to 11 per cent below forecast demand, and supply >300 TJ/d short from 2030s. o WA domestic gas demand is forecast to increase from 1,066 TJ/day in 2023 to 1,325 TJ/day in 2033 at an annual average rate of 2.2%. o Demand from gas powered generation in the South West Interconnected System is forecast to grow from 208 TJ/day in 2023 to a peak of 351 TJ/day in 2032, as anticipated coal powered generation retirements take place. Source: WA DMIRS Industry Activity Indicators (https://www.dmp.wa.gov.au/About-Us-Careers/Latest-Resources-Investment-4083.aspx) 4 o Committed new resources projects, most notably Perdaman’s Karratha Urea Project, are expected to contribute to a net increase of 132 TJ/day towards gas demand over the forward period. • Subsequent to the release of the GSOO 2023, Alcoa announced that, after a review of the competitiveness of its 60-year-old Kwinana Alumina refinery, it would cease production in September 2024. The closure of this plant will reduce daily gas demand from Q4 CY24 by ~55 TJ/d or 3-5% of the total market. The effect on the AEMO forecasts is a reduction from a market in deficit to one in a delicate balance going in and out of deficit at various times until 2030. • The WA Government’s Economics and Industry Standing Committee Inquiry into the WA Domestic Gas Policy was expected to release an interim report in late December 2023, however this has been delayed to early 2024. Commentary to date from the WA Government has been supportive of building an investment climate for the Perth Basin to arrest any possible supply deficit through the acceleration of, and increasing the size of, the proposed developments. This aligns with recent commentary from the Premier, Hon Roger Cook MLA, reported in The West Australian on January 11, which highlighted that a decision on lifting WA’s ban on the export of onshore gas is expected by the middle of the year. • The WA Government announced that it would spend a further $220 million on subsidising the coal production from Griffin coal to support the coal fired electricity generation within the state, but that, in line with its commitment to exit coal fired power by 2029, it would cease payments to the domestic coal mines in 2026. Strike expects this to stimulate and increase the immediate investment case for new gas fired generation to be constructed in WA, in advance of these closures. Exploration & Development South Erregulla (L24, STX 100% and operator) • The South Erregulla gas field has now been successfully appraised with SE2 & 3 producing positive results and confirming the continuity of the field to the West and the North. • Well testing of SE2 & 3 is planned to occur over the coming quarter which will feed into a review of the Reserves and Resources within L24. South Erregulla Exploration & Appraisal Drilling Results Max Porosity Average Porosity Net Pay Reservoir Pressure Max Rate on Test South Erregulla-1 20.2% 13.3% 14m 6,800 psi 80 mmscfd South Erregulla-2 18% 11% 16m 6,730 psi TBC South Erregulla-3 16.4% 10.2% 13m 6,746 psi TBC Well • The South Erregulla gas field’s Phase 1 development received its primary environmental approval under Part IV of the Environmental Protection Act 1986 (WA). • Strike secured foundation firm gas sales agreements for a total of ~42 PJ which will underpin the bankability and development of the proposed Phase 1 development. The firm Gas Sales Agreements are with tier-1 customers and include: o A sales agreement for 35.5 PJ (20 TJ/d) of gas to the Worsley Alumina Joint Venture (operated by South32) for a period of 5 years. 5 o • A sales agreement for 5.475 PJ (5 TJ/d) of gas to Perth Energy (AGL) for a period of 3 years. Further engagement with Enerflex on the modular 40 TJ/d plant continued with a key focus on cost and schedule optimisation. Strike also engaged with AGIG to provide a build/own/operate (BOO) solution as part of our competitive tender process for the South Erregulla export pipeline. This has led to AGIG investigating a bundled gas processing plant and export pipeline for the treatment and transportation of SE gas production. West Erregulla (EP469, STX 50% and operator) • During the quarter the West Erregulla upstream development Part IV environmental EPA report and recommendation was made public. The Australian Gas Infrastructure Group (AGIG) midstream 87 TJ/d development EPA report and recommendation was also made public during the quarter. Both of these reports are the subject of appeals with WA Ministerial determination expected within the first half of 2024. • Strike and Hancock progressed discussions around the joint development of the West Erregulla gas field, with early alignment around midstream infrastructure and timelines targeting first gas production by late 2026. Ocean Hill (EP495, STX 100% and operator) • Through the reporting period, progress was made securing land access and approvals for the upcoming ~270 sq km Ocean Hill 3D seismic campaign, which is expected to commence in the current quarter. This high-resolution dataset will be used to site a future appraisal well. Low Carbon Precinct (100% STX) • The South Erregulla-3 well also successfully appraised the Precinct’s CO₂ storage resource in the Jurassic Sandstones within the Cattamarra Coal Measures. SE3 intersected 75m of potential storage reservoir with a maximum of 29% porosity and an average of 19%. • During the quarter, the Petroleum Amendment Bill 2023 was introduced to the WA Parliament. The Bill proposes amendments to the Petroleum and Geothermal Energy Resources Act 1967, the Petroleum Pipelines Act 1969 (PPA) and Petroleum (Submerged Lands) Act 1982 to, among other things, enable the transport and geological storage of greenhouse gases and permit the exploration and production of prescribed regulated substances, such as naturally occurring hydrogen, in WA. The introduction of this Bill supports 6 the work Strike has done to date on proving up its 4.8mt contingent CO2 storage resource 5 in order to take advantage of potential carbon capture storage opportunities at the Precinct. • Strike continued wind data gathering with its LiDAR sensors at the 3,500ha Precinct. During the quarter the WA Government announced $700 million of funding for transmission upgrades. Notably $575 million has been allocated to increasing capacity of the network’s northern section. This will involve upgrading the current mix of 132 kV and 330 kV lines to unlock the transmission capacity in the Mid-West region. Financial • During the quarter total gross sales from the Walyering gas field were 1.9 PJe of gas and condensate. This was made up 1.8 PJ of sales gas and 14,601 bbls of associated condensate across 3 liftings. Average daily production was ~20 TJ/d (being the firm take or pay quantity of the Santos sales agreement). Nominations above 20 TJ per day were intermittent due to periods of maintenance on the Parmelia Gas Pipeline. Sales above the 20 TJ/d rate were sold on an ‘As Available’ basis to both Santos and Alinta Energy. • Gross gas sales revenues for the quarter were $13 million ($7.4 million STX share prior to consolidation of 100% of Walyering). Averaged realised gas prices were ~$7 GJ, slightly lower due to a softer exchange rate and a higher ‘As Available’ percentage (~5%). Condensate liftings from Port Bonython totalled $1.4 million and averaged US$83 bbl. • Total gross production costs to date have averaged $0.51/GJ. As production rates increase this is expected to reduce on a per gigajoule basis. Revenue Note: Net to Strike is at 55% equity until 31 Dec 2023. A$ million Sep Q1 FY24 Dec Q2 FY24 Qtr on Qtr change FY23 YTD FY24 YTD Change 0.38 13 12.62 0 13.38 13.38 0.21 7.15 6.94 0 7.36 7.36 0 1.4 1.4 0 1.4 1.4 0 0.77 0.77 0 0.77 0.77 0.38 14.39 14.02 0 14.77 14.77 0.21 7.92 7.71 0 8.13 8.13 Sales Revenue Gas (gross) 6 Gas (net to Strike) Condensate (gross) Condensate (net to Strike) Total Sales Revenue (gross) Total Sales Revenue (net to Strike) Average Realised Prices Gas ($/GJ) 7.34 6.93 (0.41) - 6.94 6.94 Condensate ($/bbl) - 101.13 101.13 - 101.13 101.13 Sep Q1 FY24 Dec Q2 FY24 Qtr on Qtr change FY23 YTD FY24 YTD Change Exploration & Appraisal 21.37 35 13.64 16.16 56.37 40.2 Development 5.74 1.53 (4.21) 4.87 7.27 2.4 27.11 36.53 9.43 21.03 63.64 42.61 Capital Expenditure A$ million Total Capital Expenditure 5 The South Erregulla Contingent CO2 Storage Resource Estimate is set out in ASX announcement dated 15th June 2023 entitled ‘South Erregulla Update’ and is available to view on Strike Energy's website at www.strikeenergy.com.au. Strike confirms it is not aware of any new information or data that materially affects the information included in the referenced announcement and that all the material assumptions and technical parameters underpinning the estimate in that announcement continues to apply. 6 Sales gas revenue includes gas banked and not taken or produced pursuant to the ‘Take or Pay’ contract with Santos WA Ltd. 7 Liquidity Sep Q1 FY24 Dec Q2 FY24 Qtr on Qtr change FY23 YTD FY24 YTD Change Cash & Cash Equivalents 103.49 66.78 (36.71) 9.72 66.78 57.06 Undrawn Debt 46.75 46.75 0 6.75 46.75 40 150.24 113.53 (36.71) 16.47 113.53 97.06 A$ million Total Liquidity • During the quarter Strike paid down $6.7 million of drawn debt from its existing Macquarie Bank facilities. Drawn debt from this facility at the end of the quarter was $19.6 million. • Strike finished the quarter with a liquidity position of ~$114 million ($67 million of cash, $47 million of committed, undrawn debt facilities and $0.24 million of listed equities), plus an uncommitted $80 million contingent debt facility for Strike’s South Erregulla domestic gas development 7. • During the quarter $239,621 in payments were made to related parties for director fees. Corporate & Commercial • During the quarter Strike completed the acquisition of Talon Energy Limited by Scheme of Arrangement. This transaction has consolidated 100% Strike ownership of the Walyering gas field in L23 and adjoining exploration acreage in EP447. Post the transaction completing: o Strike has commenced a review on the non-operated Talon Energy assets in L7 Mount Horner and EP437 where the drilling of two wells is expected to occur during 2024. o The Condor acquisition agreement expired where Strike exercised its rights to terminate the agreement with Macallum Energy. o Consolidation of the accounts, inclusive of the $6 million facility extended to Talon as part of the acquisition by Strike, resulted a net -$1.9 million in funds after transaction costs had been accounted for. Petroleum Tenements Held at the End of the Quarter 7 Permit Type Basin Play Operator (parent) STX Interest Gross Area (acres) STX Net Area (acres) L23 (Walyering) Production Perth Basin Jurassic Wet Gas Strike 100% 18,222 18,222 L24 (South Erregulla) Production Perth Basin Permian Gas Strike 100% 18,409 18,409 L7 (Mount Horner) Production Perth Basin Permian Gas/Oil Triangle 25% 37,021 9,255 EP469 (West Erregulla) Exploration Perth Basin Permian Gas Strike 50% 55,500 27,750 EP503 Exploration Perth Basin Permian Gas Strike 100% 120,217 120,217 EP504 Exploration Perth Basin Permian Gas Strike 100% 92,170 92,170 EP505 Exploration Perth Basin Permian Gas Strike 100% 18,533 18,533 EP506 Exploration Perth Basin Permian Gas Strike 100% 37,066 37,066 EP447 Exploration Perth Basin Jurassic Wet Gas Strike 100% 127,849 127,849 EP488 Exploration Perth Basin Jurassic Wet Gas Strike 100% 73,390 73,390 Uncommitted facility remains subject to lender credit approval. 8 EP489 Exploration Perth Basin Jurassic Wet Gas Strike 100% 36,572 36,572 EP495 Exploration Perth Basin Jurassic Wet Gas Strike 100% 73,637 73,637 EP437 Exploration Perth Basin Permian Gas/Oil Triangle 25% 176,861 44,215 PPL210 (Aldinga) Production Cooper Basin Shallow Oil Beach 50% 988 494 PEL 96 Exploration Cooper Basin Deep Coal Strike 67% 668,098 444,953 This report is authorised for release by the Managing Director and Chief Executive Officer in accordance with the Company’s Continuous Disclosure Policy. Company Contact Emma Alexander Investor Relations & Corporate Manager Strike Energy Limited +61 419 877 137 emma.alexander@strikeenergy.com.au Media Contacts Paul Ryan Citadel-MAGNUS +61 409 296 511 pryan@citadelmagnus.com Important Notices Future Statements 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 report. There can be no assurance that actual outcomes will not differ materially from these statements. A number of important factors could cause actual results or performance to differ materially from the forward looking statements, including the risk factors set out in Strike West Pty Ltd’s (wholly owned subsidiary of Strike) bidder’s statement dated 23 December 2022 in relation to its off-market takeover offer to acquire all of the shares in Warrego Energy Limited that Strike does not already own. 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 its affiliates and its directors, officers, employees, agents, associates and advisers disclaim any obligations or undertaking to release any updates or revisions to the information in this report 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 report, 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 report. 9 Quarterly Activities & Financials Q2-FY24 Strike’s first full quarter of production operations Cautionary note and disclaimer Summary information This presentation contains summary information and statements about Strike Energy Limited (ASX:STX) (Strike), its subsidiaries and their respective activities, which is current as at the date of this presentation (unless otherwise indicated). The information in this presentation is general in nature and does not purport to be exhaustive. For example, this presentation does not purport to contain all of the information that investors may require in evaluating a possible investment in Strike . It has been prepared by Strike with due care but no representation or warranty, express or implied, is provided by Strike in relation to the currency, accuracy, reliability, fairness or completeness of the information, opinions or conclusions in this presentation. This presentation should be read in conjunction with Strike’s other periodic and continuous disclosure announcements lodged with the Australian Securities Exchange (ASX), which are available on the ASX website (at www.asx.com.au) and the Strike website (at www.strikeenergy.com.au). No person other than Strike has authorised or caused the issue, release, submission, distribution or provision of this presentation, or takes any responsibility for, or makes or purports to make, any statements, representations or undertakings in this presentation. Strike, to the maximum extent permitted by law, expressly excludes and disclaims all liability (including, without limitation, any liability arising out of fault or negligence on the part of any person) for any direct, indirect, consequential or contingent loss or damage, or for any costs or expenses, arising from the use of this presentation or its contents or otherwise arising in connection with it. Strike does not make any representations or warranties (express or implied) to you about the currency, accuracy, reliability or completeness of the information, opinions and conclusions in this presentation (including, without limitation, any financial information, any estimates or projections and any other financial information). Not an offer, and not investment or financial product advice This presentation is not a prospectus, product disclosure statement or other disclosure document under the Corporations Act, or other offering document under Australian law or any other law. This presentation has not been lodged with the Australian Securities and Investments Commission. This presentation, and the information contained in it, is provided for information purposes only and is not an offer or solicitation or an invitation or recommendation to subscribe for, acquire or buy securities of Strike, or any other financial products or securities, in any place or jurisdiction. This presentation may not be released to US wire services or distributed in the United States. This presentation does not constitute an offer to sell, or the solicitation of an offer to buy, any securities in the United States or any other jurisdiction in which such an offer would be unlawful. The securities referred to in this document have not been, and will not be, registered under the US Securities Act of 1933 (US Securities Act) and may not be offered or sold in the United States except in transactions exempt from, or not subject to, the registration requirements of the US Securities Act and applicable US state securities laws. This presentation, and the information provided in it, does not constitute, and is not intended to constitute, financial product or investment advice (nor tax, accounting or legal advice) or a recommendation to acquire any securities of Strike. It has been prepared without taking into account the objectives, financial or tax situation or particular needs of any individual. Any investment decision, should be made based solely upon appropriate due diligence and other inquiries. Before making any investment decision, investors should consider the appropriateness of the information having regard to their own objectives, financial and tax situation and needs and seek professional advice from their legal, financial, taxation or other independent adviser (having regard to the requirements of all relevant jurisdictions). Strike is not licensed to provide financial product advice in respect of an investment in securities, and do not purport to give advice of any nature. An investment in any listed company, including Strike, is subject to risks of loss of income and capital. Past performance Past performance metrics and figures, as well as pro forma financial information, included in this presentation are given for illustrative purposes only and should not be relied upon as (and are not) an indication of Strike’s views on Strike's future financial performance or condition or prospects (including on a consolidated basis). Investors should note that past performance of Strike, including in relation to the historical trading price of shares, production, reserves and resources, costs and other historical financial information cannot be relied upon as an indicator of (and provide no guidance, assurance or guarantee as to) future performance, including the future trading price of shares. The historical information included in this presentation is, or is based on, information that has previously been released to the market. Investment risk As noted above, an investment in shares in Strike is subject to investment and other known and unknown risks, some of which are beyond the control of Strike. These risks, together with other general risks applicable to all investments in listed securities not specifically referred to, may affect the value of shares in Strike in the future. Strike does not guarantee any particular rate of return or the performance of Strike, nor guarantee the repayment of capital from Strike, or any particular tax treatment. When making any investment decision, investors should make their own enquires and investigations regarding all information in this presentation, including but not limited to the assumptions, uncertainties and contingencies which may affect future operations of Strike, and the impact that different future outcomes may have on Strike. Refer to the section 8 of Strike’s Bidder’s Statement dated 23 December 2022 for its off-market takeover offer to acquire all of the shares in Warrego Energy Limited (ACN 125 394