Announcement PDF AUSTRALIS OIL & GAS LIMITED ABN 34 609 262 937 Level 2, 215 Hay Street Subiaco WA 6008 • PO Box 8225 Subiaco East WA 6008 T +61 (8) 9220 8700 • F +61 (8) 9220 8799 www.australisoil.com For Immediate Release ASX Announcement 26 February 2026 2025 Annual Report and Audited Financial Statements Australis Oil & Gas (“Australis” or “Company”) is pleased to provide its 2025 Annual Report including the audited consolidated financial statements for the year ended 31 December 2025. During 2025 the Company continued to safeguard the TMS asset with minimal capital spend whilst meeting all interest, amortisation payments and covenants associated with the Macquarie Credit Facility. Australis announced on 26 November 2025 that it had achieved a key strategic goal to introduce a development partner with financial capacity to deploy significant development capital in the TMS whilst utilising the inherent value in the Company’s undeveloped TMS acreage to fund the Australis share of a development program for which a non-refundable $1 million Partner Fee was received. The development partner has the right to deploy up to US$46.25 million of development capital for new wells in the TMS, carrying Australis for a 20% working interest, to earn an 80% working interest in Australis’s undeveloped TMS Core acreage (Development Transaction). In addition, Australis closed on a second transaction on 30 December 2025 to sell 90% of its working interests in existing TMS producing wellbores for US$16.9 million before customary closing adjustments (Financing Transaction) to maximise funding flexibility to participate in appraisal and development drilling after the carry program and manage land acquisition programs whilst minimising the need to dilute existing shareholders. Please refer to ASX announcements on 26 November 2025 and 31 December 2025 for further details. The successful completion of the Development and Financing Transactions strengthens the Company’s balance sheet and enabled the repayment in full of the Macquarie Credit Facility at year end. The Company’s net loss after tax for the year of US$24.9 million was predominately due to non-cash charges associated with the impairment expense relating to Oil and Gas Properties. The impairment charge of US$20.7 million related to both producing assets (on the sale of 90% of Australis working interest in TMS assets) and undeveloped assets (the discounted value of the carry amount required to be spent by the Development Partner to complete its acquisition via farm-in of an 80% WI of the Australis held TMS undeveloped acreage). A summary of financial and operating results for the year are as follows: Financial Results 2025 - (US$) Gross revenue from oil sales (before royalties& hedges) $13.9 million Gain from hedging $0.1 million Average achieved sales price (including hedges) $68/bbl Field Netback* $4.0 million Field Netback (Working Interest)* $19.40/bbl Adjusted EBITDA* $0.6 million Net loss after taxation $(24.9) million Year end cash position $14.2 million 2 *Field Netback and Adjusted EBITDA are considered non-IFRS measures. Please refer to Non-IFRS Financial Measures below. ** reflects the sale of 90% working interest in the producing wellbores to EQV. The 2025 Annual Report and Appendix 4E is attached. Australis Oil & Gas Limited advises that in accordance with Clause 6.1 of the Australis constitution and ASX Listing Rule 3.13.1: a) The 2026 Annual General Meeting (AGM) will be held at 10.30am (WST) on Tuesday 5 May 2026, and b) the closing date for the receipt of nominations from persons wishing to be considered for election as a director is 11 March 2026. Any nominations must be received in writing no later than 5.00 pm (AWST) on 11 March 2026 at the Company’s registered office. Shareholders of the Company (Shareholders) will be advised of further details regarding the AGM in a separate Notice of Meeting, which will be provided to Shareholders in April 2026. The Notice of Meeting will also be available on the ASX Company Announcements Platform and on the Company’s website at www.australisoil.com. This ASX announcement was authorised for release by the Australis Disclosure Committee. For further information, please contact: Ian Lusted Managing Director Australis Oil & Gas Limited +61 8 9220 8700 Graham Dowland Finance Director Australis Oil & Gas Limited +61 8 9220 8700 About Australis Australis (ASX: ATS) is an ASX listed upstream oil and gas company seeking to provide shareholders value and growth through the strategic development of its quality onshore oil and gas assets in the United States of America. The Company’s acreage within the core of the oil producing TMS contains 0.17 MMbbls of recoverable producing reserves (2P - mid case) and approximately 62 MMbbls of mid case 2C recoverable oil(1) . The Company was formed by the founders and key executives of Aurora Oil & Gas Limited, a team with a demonstrated track record of creating and realising shareholder value. Footnotes 1. All estimates and risk factors taken from Ryder Scott, report prepared as at 31 December 2025 and generated for the Australis concessions to SPE standards. See ASX announcement released on 30 January 2026 titled “Quarterly Activities and Annual Reserves Report”. The analysis was based on a land holding of 47,200 net acres. Australis is not aware of any new information or data that materially affects the information included in the referenced announcement and all the material assumptions and technical parameters underpinning the estimates in the original announcement continue to apply and have not materially changed. Ryder Scott generated their independent reserve and contingent resource estimates using a deterministic method which is based on a qualitative assessment of relative uncertainty using consistent interpretation guidelines. The independent engineers using a deterministic incremental (risk based) approach estimate the quantities at each level of uncertainty discreetly and separately. Operating Results 2025 Oil sales (Working Interest) 208,000 bbls Net oil sales (after royalties) 168,000 bbls TMS year end independent PDP reserves (Net)1 0.13 MMbbls** Year end independent mid case(2C) contingent resources1 62 MMbbls Total Acreage leased within the TMS Core Acreage leased and HBP within the TMS Core 47,200 net acres 39,900 net acres 3 Non-IFRS Financial Measures References are made within this report to certain financial measures that do not have a standardised meaning prescribed by International Financial Reporting Standards (IFRS). Such measures are neither required by, nor calculated in accordance with IFRS, and therefore are considered Non–IFRS financial measures. Field Netback and Adjusted EBITDA are Non-IFRS financial measures commonly used in the oil and gas industry. Non-IFRS financial measures used by the Company, including Field Netback and Adjusted EBITDA, may not be comparable with the calculation of similar measures by other companies and should not be construed as an alternative to other financial measures determined in accordance with IFRS. EBIT represents net income /(loss) for the period before income tax expense or benefit and finance costs. Adjusted EBITDA represents EBIT before depletion, depreciation and amortisation charges, expired lease write off and impairment expense. The following table reconciles net profit after tax to Adjusted EBITDA: 31 December 2025 US$’000 Net loss after tax (24,949) Adjustments: Net finance expenses 739 EBIT (24,210) Depletion & Depreciation 4,171 Impairment expense 20,681 Adjusted EBITDA 642 FIELD NETBACK Field Netback represents oil and gas sales net of royalties, production and state taxes, inventory movements, hedging gains or losses, field based production expenses but excludes depletion and depreciation. GLOSSARY Term Definition TMS Tuscaloosa Marine Shale bbl(s) Barrel(s) of oil MM Millions PDP Proved Producing Reserves 2C Most Likely Contingent Resource TMS Core HBP The Australis designated productive core area of the TMS delineated by production history Leased minerals deemed held by production by an existing producing well. AUSTRALIS OIL & GAS LIMITED ABN 34 609 262 937 Level 2, 215 Hay Street Subiaco WA 6008 • PO Box 8225 Subiaco East WA 6008 T +61 (8) 9220 8700 • F +61 (8) 9220 8799 www.australisoil.com 26 February 2026 APPENDIX 4E FINANCIAL YEAR ENDED 31 DECEMBER 2025 AUSTRALIS OIL & GAS LIMITED (ASX: ATS) ABN or equivalent company reference 34 609 262 937 This information should be read in conjunction with the Australis Oil & Gas Limited 2025 Annual Report (which contains the 2025 audited Financial Report and other information required for Appendix 4E) Results for Announcement to the Market Revenue from ordinary activities Decreased by 28% (1) from US$19.4 million in 2024 to US$14.1 million in 2025. Loss from ordinary activities after tax attributable to members Increased by 202% (1) from a loss of US$8.3 million for 2024 to a loss of US$24.9 million for 2025. Net loss for the period attributable to members Increased by 202% (1) from a loss of US$8.3 million for 2024 to a loss of US$24.9 million for 2025. An explanation of the results is contained within the 2025 Annual Report which can be found on the ASX website or the Australis website at www.australisoil.com (1) Comparisons are made to the financial year ended 31 December 2024 Dividends No dividends have been paid or proposed for the year ended 31 December 2025 (2024: nil) Net Tangible Asset per Security 31 December 2025 31 December 2024 US$0.02 US$0.04 This report is based on audited accounts This ASX announcement was authorised for release by the Australis Disclosure Committee. For further information, please contact either: Graham Dowland Finance Director Australis Oil & Gas Limited +61 8 9220 8700 Julie Foster Company Secretary Australis Oil & Gas Limited +61 8 9220 8700 2025 A N N U A L R E P O R T Australis Oil & Gas Limited ABN 34 609 262 937 2 2025 ANNUAL REPORT AUSTRALIS OIL & GAS LIMITED 2025 ANNUAL REPORT AUSTRALIS OIL & GAS LIMITED 1 Chairman’s Letter 02 Business Strategy, TMS Asset and 2025 Operations 04 Financial and Corporate Review 13 Glossary 23 Sustainability Report 26 Directors’ Report 36 Remuneration Report 44 Consolidated Statement of Profit or Loss and Other Comprehensive Income 62 Consolidated Statement of Financial Position 63 Consolidated Statement of Changes in Equity 64 Consolidated Statement of Cash Flows 65 Notes to the Consolidated Financial Statements 66 Consolidated Entity Disclosure Statement 105 Directors’ Declaration 106 Auditor’s Independence Declaration 107 Independent Audit Report 108 ASX Additional Information 112 Corporate Directory 114 CONTENTS Chairman’s Letter 2 2025 ANNUAL REPORT AUSTRALIS OIL & GAS LIMITED During November 2025, and following significant corporate interaction in the US, we entered into two strategic transactions that directly address our long- standing business objectives and position Australis for growth and stability. It was important to us that we achieve this objective without materially diluting shareholders equity in the Company, rather through the use of our valuable asset base. These transactions are discussed at length in this Annual Report but may be summarised as follows. • Development Partnership: We have partnered with a reputable, US-listed independent oil and gas company to advance the development of our TMS acreage. This partner has the right to deploy up to US$46 million in development capital, including funding Australis for a 20% working interest in new wells, to earn an 80% interest in approximately 46,100 net acres. Additionally, Australis has established an Area of Mutual Interest with the development partner, within which any leases taken are offered to the other party on the same 80/20% basis. This arrangement allows us to participate in future growth while minimising reliance on shareholder equity or debt during the early phases of development. • Financing Transaction: We agreed to sell 90% of our working interests in existing TMS producing wellbores for US$16.9 million before customary closing adjustments to an affiliate of the EQV Group. This transaction enabled us to repay all outstanding Macquarie Facility debt and establish a strong cash reserve, while retaining rights to develop our valuable acreage. Dear Shareholders, I am pleased to reflect on the exciting recent developments at Australis Oil and Gas Ltd ("Australis"). It is the view of your Board that we have taken significant steps to strengthen our Company’s future and ultimately deliver value to you as shareholders. CHAIRMAN’S LETTER 2025 ANNUAL REPORT AUSTRALIS OIL & GAS LIMITED 3 These transactions deliver several important outcomes: • We have secured a financially strong and experienced development partner, aligned with our vision to unlock the value of our large undeveloped TMS asset. • The monetisation of producing assets allowed us to repay all the Facility debt and provides a cash balance of approximately US$14 million at the start of 2026, in addition to future revenues from retained interests and our carried interest in new development wells. • Importantly, we retain all key rights and upside in our significant undeveloped acreage, ensuring continued exposure to future value creation. Our financial position is now sound. With debt repaid, a healthy cash reserve and a carry on what we believe will be value demonstrating drilling operations, Australis is well placed to deliver on our strategic objectives. We will closely monitor opportunities to strategically add to our position in accordance with the terms of our new arrangements. The transactions involved a significant amount of work from our management team and I would like to thank them and also recognise their continued dedication. Looking ahead, we are excited to work alongside our new partners to advance the TMS play and create lasting value for all shareholders. We remain committed to transparent communication and prudent management as we enter this promising new chapter for Australis. Thank you for your ongoing support and confidence in our Company. Yours sincerely, Jonathan Stewart Chairman 4 2025 ANNUAL REPORT AUSTRALIS OIL & GAS LIMITED AUSTRALIS BUSINESS STRATEGY & HISTORY Australis secured an initial position in the Tuscaloosa Marine Shale (“TMS”) in 2015 as a private company and listed in 2016 to secure the funds to increase the position. In 2017, Australis raised additional funds to acquire a key operated position on the core of the TMS. The Company was seeking an unconventional opportunity that met the following criteria • oil weighted production • demonstrable reservoir quality and production deliverability • a low entry cost and the potential for material scale • existing or easily accessed infrastructure and proximity to sales markets At the time of these acquisitions, the play had been delineated by some 85 wells, mostly drilled in 2013 and 2014, which had clearly highlighted an area (“TMS Core”) of more consistent performance that was on par with some of the more established plays that had thousands of wells drilled to optimise design and operating parameters. Australis sought to build a strategic asset of size that would be desirable for a US independent public company seeking new high quality development inventory, as there were a limited number of oil weighted unconventional plays onshore in the US and those already in development were showing early signs of maturity. In 2014, compared to the other established plays at this point in the evolution of the unconventional industry, the TMS was relatively deep with higher pressure and temperature, which led to early-stage drilling challenges and being largely passed over by the industry. This allowed Australis to undertake an active leasing program and further acquisitions with limited competition to build up a substantial position within the delineated TMS Core during 2016 – 2018. Today, the depth, temperature and pressure of the TMS would be considered routine with technical boundaries having been significantly expanded. BUSINESS STRATEGY, TMS ASSET AND 2025 OPERATIONS 2025 ANNUAL REPORT AUSTRALIS OIL & GAS LIMITED 5 In 2018 Australis commenced a six-well drilling program with the primary purpose of demonstrating reservoir deliverability, which we believe it achieved. While there were some operational issues on a couple of the wells, post-drilling analysis clearly showed that the problems occurred when operating parameters moved outside modelled boundaries and results were corroborative with that model. Following completion of that work program in late 2019, the COVID pandemic led to a period of uncertainty and low oil prices that dampened industry appetite for any new play. At the same time, forced by frustrated shareholders, there was a broad transition by oil & gas public companies from a growth orientated business model to one focused on returns and profitability. This led to a long period of time where, despite gaining traction with potential partners on technical basis of the TMS opportunity, we were unable to secure appropriate commitments to fund renewed activity in the play as the new industry business model limited appetite for emerging early stage opportunities. Australis has long believed that the industry’s newfound philosophy of maximising returns by minimising costs and focusing only on existing established plays was not sustainable. Whilst significant, the resources associated with unconventional plays and number of potential future drilling locations are ultimately finite. This reality combined with the industry-wide process of “high grading” – drilling the locations in the most productive areas of the play first - leads to a dwindling inventory of quality new well locations and of reducing productivity. This has made acquiring any remaining high quality productive drilling locations increasingly competitive and expensive, which we believe will ultimately drive companies to consider alternative, earlier-stage plays such as the TMS. Australis believes there have been indications of these market forces at work over the last 12 – 24 months, reflected by an increase of new inbound enquiries to Australis and the return of companies who had previously evaluated the TMS to update their assessment of the opportunity and ultimately led to the TMS transactions which occurred in late 2025. TMS TRANSACTIONS On 26 November 2025 Australis announced two separate but inter-related transactions that collectively delivered on many of the key strategic goals the Company has been pursuing for some time. In combination the two transactions achieved the following: • secured a reputable and experienced US listed independent oil and gas company with financial capacity to deploy significant development capital in the TMS play; • successfully leveraged the inherent value in the Company’s undeveloped TMS acreage position by way of a ‘free carry program’ to fund the Australis’s share of an early development program, rather than rely on shareholder equity or debt; and • strengthened the Company’s balance sheet, enabling repayment in full of all the Macquarie Facility debt whilst maintaining a materially increased cash reserve. The first transaction (“Development Transaction”) was with an established onshore production, development and exploration company with a multi-billion dollar enterprise value and active operations in multiple US unconventional basins (“Development Partner”). A summary of the key transaction points is provided below and please refer to the announcement on 26 November 2025 for further details. • The Development Partner has the right to earn an 80% interest in approximately 46,100 net undeveloped acres by carrying Australis for a 20% working interest on a US$46.25 million drilling and completion program (“Carry Program”). The Australis working interests in the existing producing TMS wells, both operated and non-operated, were excluded from this transaction. • The Development Partner and Australis have established an Area of Mutual Interest (“AMI”) within the TMS Core and Australis has the right to participate at a 20% working interest in any leases that are taken within that AMI. • The Development Partner paid an initial non-refundable fee of US$1 million (“Partner Fee”) and has committed to an initial land program to acquire rights to additional drilling acreage within the AMI of $US1 million (“ILP”) to be completed by 30 October 2026, with Australis again being carried for a 20% working BUSINESS STRATEGY, TMS ASSET AND 2025 OPERATIONS 6 2025 ANNUAL REPORT AUSTRALIS OIL & GAS LIMITED interest. • The Development Partner will pay for the first well of the Carry Program (carrying Australis for its 20% working interest) to be drilled and completed by 30 October 2026 or has the right to pay a further US$1 million non-refundable fee and extend this deadline and the ILP by 12 months. • Following completion of the first well of the Carry Program the Development Partner has six months to elect to proceed with the remainder of the Carry Program and drill at least one well per 12-month period and complete the Carry Program within three years. • If the Development Partner fails to meet any of these deadlines or obligations it will forfeit its right to earn the 80% working interest in the Australis undeveloped acreage and Australis will: - be entitled to all the interests acquired under the ILP; and - retain its carried interests drilled in any carry wells. The second transaction (“Financing Transaction”), was executed with an affiliate of the EQV Group (“EQV”), and dealt solely with the Australis working interests in producing TMS wells. All the associated undeveloped acreage was excluded from the transaction and retained by Australis. The Financing Transaction closed on 30 December 2025. A summary of the key transaction points is provided below and please refer to the announcement on 26 November 2025 for further details. • Australis sold 90% of its working interest in its operated and non-operated producing well inventory to EQV for US$16.9 million before customary closing adjustments. • Australis retained 10% of its working interest in all wells and the associated non operator rights. • Australis relinquished operatorship of all wells to EQV and will be providing transition services for a period of 60 – 90 days following the close of the Financing Transaction. OPERATIONS IN 2025 SAFETY AND ENVIRONMENTAL PERFORMANCE The Australis team places the utmost importance on our safety and environmental culture. As operator it underpins every activity that takes place during field operations and is an integral part of planning and execution. When there is an incident or a near miss, it is thoroughly investigated and those involved take an active role in identifying opportunities for improvement and mitigation. In 2025, there was one OSHA reportable safety incident, five non-reportable spills and one reportable spill. The 6 spills amounted to a total of 2.4 bbls of oil and 1.4 bbls of produced water. They were all contained within the pad boundaries and cleaned up immediately following the incident. BUSINESS STRATEGY, TMS ASSET AND 2025 OPERATIONS 2025 ANNUAL REPORT AUSTRALIS OIL & GAS LIMITED 7 PRODUCTION OPERATIONS During 2025 Production Operations were affected by the following events: • In January freezing temperatures required operations in the field to be suspended for two days. • Storms during the first quarter also led to multiple power losses, which temporarily led to wells being shut in. The storms also saw lightning strikes causing damage to the well electrical control units of two wells that required repair, despite the protection installed. • As older wells have declined, Australis moved some wells onto a periodic production program which allows reservoir pressure to build and avoids artificial lift altogether or requires it for a shorter period of time. At times this has reduced production volumes over the year, but is still deemed appropriate as the lower operating costs generated improved well economics. • The workovers in 2025 were carried out as part of two short campaigns during early Q2 and early Q4. Prior to the second campaign the decision was made to wait on individual workovers until we came to a conclusion on our transaction negotiations, which may have influenced our decision on certain operations. As a result, wells were left closed in for longer periods before the workovers, but ultimately benefited from being part of a larger four-well campaign. Overall sales volumes for 2025 are summarised in the table below. Production decline through the year was in line with expectations for natural decline and downtime. Q1 2025 Q2 2025 Q3 2025 Q4 2025 Total Sales Volumes WI (bbls) 56,700 53,700 48,800 48,900 208,100 BUSINESS STRATEGY, TMS ASSET AND 2025 OPERATIONS 8 2025 ANNUAL REPORT AUSTRALIS OIL & GAS LIMITED LEASE OPERATING EXPENSES (LOE) As operator, Australis has always focused on the efficiency of activities to reduce costs, extend well life and extend the durations between workovers. In doing so we generate the basis for assuming lower production costs when modelling future development of the play and also maximise returns in the short term. After over seven years of operatorship Australis has demonstrated continuous improvement and 2025 reinforced that trend as we continued to seek further optimisation. As a result of these efforts the total LOE + WOE on a gross (or 8/8ths) basis has reduced by 15% this year. The bulk of these savings have come from a substantial reduction in workover and variable production costs. We report production costs in three categories, fixed LOE, variable LOE and WOE. Each component is tracked on a monthly basis and has been presented in the chart below (Figure 3) on a gross (8/8ths) basis. • Fixed LOE– shown in dark blue in the chart below. As the name suggests these are costs which are applied to the whole field and shared across the wells such as labour costs and repair and maintenance. The average fixed LOE in 2025 was 3% lower than the previous year. • Variable LOE– shown in green in the chart below. These are mainly third-party costs with the largest components being power and produced water disposal. During 2025 these variable costs reduced by a significant 20%, which built upon more modest savings of 2% last year. This big reduction was partially due to lower production rates but also due to the periodic production of certain wells and the decision not to workover the Ash 13-1 when it developed a hole in tubing. That well has an abnormally high water cut and significant savings were made on water disposal costs which can be visibly seen from September 2025. • WOE – shown in blue on the chart below. In total workover expenses decreased by 37% compared to 2024, which had already achieved 44% savings compared to the previous year. This continued reduction has been achieved as we continue to explore the optimised degree of savings through the reuse of recovered equipment (tubing in particular) and the longevity of recompleted wells before they require another workover (see run time analysis below). BUSINESS STRATEGY, TMS ASSET AND 2025 OPERATIONS 2025 ANNUAL REPORT AUSTRALIS OIL & GAS LIMITED 9 Figure 3: LOE 2024 – 2025 (Gross or 8/8ths) – (** data are accruals) The production team have continued to focus on reducing well workover frequency as a key driver for both costs and future well economics for reserve purposes. The chart below (in figure 4) shows that the number of workovers was kept at only seven during 2025, which was a small increase on 2024 but clearly demonstrates the trend of decreasing frequency during Australis’s tenure as Operator. Note that there were two further wells which failed during 2025 and were not worked over including the Ash 13-1 (see notes above in LOE section). BUSINESS STRATEGY, TMS ASSET AND 2025 OPERATIONS $0 $100,000 $200,000 $300,000 $400,000 $500,000 $600,000 $700,000 $800,000 $900,000 $1,000,000 & WOE Monthly Costs - January 2024 through December 2025 (Fixed and Variable LOE, Total LOE, Total WOE) Fixed LOE Variable LOE WOE Total WOE $518,984 $579,961 $813,743 $916,036 $552,242 $478,781 $624,596 $633,681 $460,809 $479,968 $591,135 $470,304 $456,459 $459,002 $473,274 $790,672 $572,026 $472,764 $474,335 $459,847 $446,947 $685,892 $363,167 $364,530 10 2025 ANNUAL REPORT AUSTRALIS OIL & GAS LIMITED Figure 4: Operated well intervention (workovers) frequency 2015 – 2025 (Australis became operator in 2017) Another important metric is the average runtime between workovers. Although there were some significant gains made in reducing workover frequency in the period 2017 – 2020 as can be seen in Figure 4, the chart below (Figure 5) shows how the period between workovers has continued to follow a trend since 2020. BUSINESS STRATEGY, TMS ASSET AND 2025 OPERATIONS 2.00 60 50 40 30 20 10 0 1.80 1.60 1.40 1.20 1.00 0.80 0.60 0.40 0.20 0.00 Australis Well Interventions (January 2015 through December 2025) 2015 - 2019 Average Interventions/well/year = 1.22 2020 - 2025 Average Interventions/well/year = 0.32 Total Interventions per Year Intervention Rate per Well per Year Total Interventions Intervention Rate / Year 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1.28 0.43 0.32 0.33 0.17 0.23 50 1.72 1.48 43 37 0.76 25 0.43 15 15 10 10 5 7 0.86 25 ~72% Improvement since 2020 Figure 5: Average run time for wells requiring intervention (** includes a discretionary coiled tubing clean out operation) 2021 2020 2022 2023 2025 2024** 0 100 200 300 400 500 600 700 800 900 1000 +2% +16% +49% +0% -19% 501 510 593 885 888 716 Run Time - Average # of Days between Interventions (2020-2025) 2025 ANNUAL REPORT AUSTRALIS OIL & GAS LIMITED 11 TMS EMISSIONS Australis monitors and reports emissions annually to the state regulatory authorities in t