Australis Oil & Gas (ATS) investor relations material

Strategic achievements in 2025

• Secured a US-listed development partner for the Tuscaloosa Marine Shale (TMS) asset, enabling a funded growth plan through a farmout and leasing program valued up to $47.25 million.

• Sold 90% working interest in producing TMS wells for $16.9 million, repaid all outstanding debt, and retained a 10% interest and rights under joint operating agreements.

• Ended 2025 with a cash balance of $14.2 million and no debt, positioning for future development.

• Achieved key environmental and safety targets while maximizing operational returns.

2026 development and operational plans

• Initiated planning and land acquisition for the initial test well (ITW) with the development partner, targeting a spud in 2026.

• Australis retains a 20% working interest in future leasing within an Area of Mutual Interest (AMI) and leverages its extensive land database.

• Ongoing collaboration with the partner to update subsurface models and operational plans.

• Opportunity to expand acreage position if the partner targets similar holdings as in 2017, potentially increasing to 27,000 net acres.

Financial and operational performance

• 2025 sales volume was 208,100 bbls at an average realized price of $67/bbl, generating $14.1 million in revenue and $0.6 million EBITDA.

• Operating costs reduced by 15%, with variable costs down 20% and workover costs down 37% year-over-year.

• Cash balance at end of 2025 was $14.2 million, with all debt repaid.

• Effective cash balance at end Q1 2026 was $12.3 million.