Path to Commercial Gas Production

Investment risks Potential investors should be aware that there are risks associated with investing in Jade. Certain risks are beyond the control of Jade and its Directors and Management and may have a material impact on Jade's future operating and financial performance, and/or the financial position of Jade, its prospects and/or the value of the Shares. Some of the key risks associated with an investment in Jade are described as follows. Exploration risk Development risk COVID-19 risk · • Key to Jade's financial performance is to have success in exploring for and locating commercial hydrocarbons. Exploration is subject to technical risks and uncertainty of outcome. Jade may not find any or sufficient hydrocarbon reserves and resources to commercialise which would adversely impact the financial performance of Jade. In the event that Jade is successful in locating commercial quantities of hydrocarbon through exploration, or purchases a development project, then that development could be delayed or unsuccessful for a number of reasons including extreme weather, unanticipated operational occurrences, failure to obtain necessary approvals, insufficient funds, a drop-in commodity price, supply chain failure, unavailability of appropriate labour, or an increase in costs. If one or more of these occurrences has a material impact then Jade's operational and financial performance may be negatively affected. The Company has observed that in response to COVID-19, governments globally have imposed restrictions on the movement of citizens and limited non-essential services and activities. Governments around the world have also recommended or enforced restrictions on both domestic and international travel in order to slow the spread of COVID-19. Given the ongoing uncertainty surrounding COVID-19 restrictions, it is not currently possible to assess the full impact of COVID-19 on the Company's business. However, a prolonged financial reduction may impact on the commodity price and the availability of labour or other costs associated with the Company's business. These effects may be felt both domestically and internationally, for an unspecified duration. A number of aspects of the Company's business may also be directly or indirectly impacted by government, regulatory or health authority actions, work stoppages, lockdowns, quarantines and travel restrictions associated with COVID-19. 21

View entire presentation