Announcement PDF strike@strikeenergy.com.au ABN 59 078 012 745 www.strikeenergy.com.au 1, 40 Kings Park Rd, West Perth WA 6005 South Erregulla Power Project Update • Draft Determination for the Benchmark Reserve Capacity Price (BRCP) for the 2028/29 Capacity Year proposed at $491,700 per MW per annum, up from $360,700 per MW per annum, a 36% increase on the current 2027/28 BRCP. Strike Energy Limited (Strike - ASX: STX) is pleased to provide an update on the South Erregulla Power Project, which is 100% owned and operated by Strike within L24 in the Perth Basin. Strike notes the Western Australian Economic Regulation Authority (ERA) has released its Draft Determination for the Benchmark Reserve Capacity Price (BRCP) for the 2028/29 Capacity Year, proposing a benchmark price of $491,700 per MW per annum. The draft BRCP for 2028/29 represents an indicative ~36% increase on the current 2027/28 benchmark of $360,700/MW/year, reflecting updated assessments of new-entrant costs and the increasing value of dispatchable generation as the South West Interconnected System (SWIS) transitions away from coal-fired supply. This draft will be subject to stakeholder submissions, with the final determination expected in March 2026 after consideration of market conditions and submissions received. The BRCP is a benchmark input to the Reserve Capacity Mechanism (RCM) within the Wholesale Electricity Market and does not represent a guaranteed capacity price. Actual capacity payments are determined through the RCM based on the supply–demand balance of the SWIS, specifically the interaction between the Reserve Capacity Requirement (RCR) set by AEMO and the volume of certified capacity offered by market participants. Where certified capacity exceeds the RCR, clearing prices may be below the BRCP; where capacity is in deficit relative to the RCR, prices may clear at or above the BRCP. South Erregulla Capacity Position  The South Erregulla Power Plant is already accredited within the RCM on a variable basis and has been awarded 85 MW of certified capacity for the 2026/27 and 2027/28 capacity years.  Strike expects to be awarded its full 85 MW of capacity for the 2028/29 capacity year, subject to the normal certification processes under the WEM Rules.  While capacity allocation is expected to remain stable, the capacity price applicable to 2028/29 will depend on the final BRCP to be determined by the ERA in March 2026, and the broader SWIS supply–demand balance determined in November 2026. Strike views the draft determination as a positive market signal supporting the role of new entrant firming assets such as South Erregulla within Western Australia’s energy transition. The South Erregulla 85MW Peaking Gas Power Project remains on track for 1 October 2026 targeted completion. ASX: STX The Company Announcement Officer ASX Ltd via electronic lodgement 3rd February 2026 This announcement is authorised for release by the Chief Executive Officer and Managing Director. Company Contact Emma Alexander Investor Relations & Corporate Manager Strike Energy Limited +61419877137 emma.alexander@strikeenergy.com.au Important Notices Forward looking Statements Statements contained in this release, 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 release. Such forward-looking statements speak only as of the date of this document. Refer to the risk factors starting on page 31 of the 2025 Annual Report 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 release 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 release will under any circumstances create an implication that there has been no change in the affairs of Strike since the date of this document.