Investor Presentaiton

14 RAFAEL PARTNER SELECTION PROCESS COMMENCED: COMPELLING VALUE PROPOSITION A discovered gas resource with a clear pathway to a clean energy development at scale enabled by material Carbon Capture and Storage ("CCS”) potential 1 Rafael Gas Discovery Commercialisation 2 Pathway 3 Clean Energy Province 4 Resource Potential 5 Proven Project Delivery Rafael gas-condensate field has been independently assessed with up to 1 Tcf gas and 20 MMbbl condensate recoverable Rafael appraisal program ongoing, with 3D seismic survey acquisition recently completed, and further drilling and well testing planned for H2 2024 Development concept studies have been completed for full range of Rafael contingent resources ■ Phase 1 development for local gas and power supply for early cashflow, with Phase 2 export development of either clean ammonia or CNG/LNG Pathways to commercialisation supported by local large scale CO2 storage projects (CCS) facilitated by Buru's GeoVault subsidiary ■ The identified CCS potential of Buru's Canning Basin permits together with Rafael gas has the potential to create a new world scale CCS and clean energy province Buru's permits include extensive prospective exploration acreage across the Canning Basin's proven and producing petroleum system Mapped prospects and leads provide potential backfill for Rafael with unrisked mean Prospective Resources of > 2.0 Tcf ■ Buru has a strong track record with native title holders and has commenced negotiations to secure indigenous land use agreements for a Rafael development Attractive opportunities for strategic partnerships Investor Presentation | November 2023 Buru Energy

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