Path to Commercial Gas Production

Key raising details ~$6.7 million raising via an Institutional Placement Offer Size & Structure Pricing Capital Raising Details 1. Institutional Placement to raise approximately A$6.7 million via the issue of approximately 128,000,000¹ new fully paid ordinary shares at A$0.052 ("New Shares") (“Placement”). Issue Price represents: 20.0% discount to the Jade closing price on Wednesday 22 April 2022 of $0.065 per share 15.2% discount to the Jade 5-day Volume Weighted Average Price ("VWAP") of $0.0613 per share up to and including 22 April 2022 13.4% discount to the Jade 10-day VWAP of $0.06 per share up to and including 22 April 2022 12.0% discount to the Jade 30-day VWAP of $0.0591 per share up to and including 22 April 2022 New Shares to be issued under the Placement, representing 10.6% of existing shares on issue and 9.6% of total shares on issue at completion of the capital raise UB Metan LLC to provide $1 million as a cornerstone investor to the capital raising Ranking New Shares issued will rank equally with existing ordinary shares from allotment 121,250,000 Placement Shares to be issued under the Company's ASX Listing Rule 7.1 Placement Allocation. 6,750,000 Placement Shares to be issued following Shareholder approval at the Company's AGM as required by ASX Listing Rule 10.11 17

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