Investor Presentation December 2020

South-West Blue Hydrogen & CCS Focus on development of blue hydrogen production project • Hydrogen produced using natural gas using low-cost conventional SMR/ATR technology with full CCS "Blue" hydrogen has compelling cost/economic advantage BLUE HYDROGEN GREEN HYDROGEN Platts Analytics estimates blue hydrogen can be produced at a cost of US$1.40/kg with full CCS versus "green" hydrogen production cost of US$4.42/kg* NATURAL GAS STEAM REFORMING RENEWABLE ELECTRICITY ELECTROLYSIS Pilot existing asset foot-print provides platform for CCS • EPS 416/480 cover the WA Govt sponsored SW Hub Carbon Capture & Storage (CCS) Project SW Western Australia footprint provides ready access to infrastructure and markets • Pilot's existing assets have ready access to gas, power, water, CCS and target hydrogen end market Existing date & knowledge base streamlining development Commonwealth and WA Government work on SW Hub CCS Project provides substantial data/knowledge base for dedicated blue hydrogen CCS site creating opportunity to streamline/accelerate project feasibility & approvals Feasibility to partnering . Once feasibility studies are completed, focus on securing large development partner Large range of potential partners . BP, Santos, Woodside - all pursuing blue hydrogen CO, MANAGEMENT H2 TRANSPORT & STORAGE TRANSPORTATION INDUSTRAL CHEMICALS POWER GENERATION & STORAGE *S&P Global Platts Article - Cost, logistics offer "blue hydrogen" market advantage over "green" alternative, 19 March 2020 - https://www.spglobal.com/platts/en/market-insights/latest-news/electric-power/031920-cost-logistics-offer-blue-hydrogen-market-advantages- over-green-alternative Source: https://blog.ballard.com/green-hydrogen-sources 16 Investor Presentation December 2020 LIQUEFACTION & EXPORT Pilot Energy

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