Investor Presentaiton

Significant cash generation potential Gippsland production is highly geared to the East Coast spot gas price Orbost, operating leverage, A$mm Athena, average processing rate (100% gross), TJ/d Sole/OGPP FY24 EBITDAX, A$mm ■ 400 300 200 100 COOPER ENERGY 65 TJ/day AGP processing capacity 150 TJ/d 90 60 TJ/day 55 TJ/day 45 24 26 22 21 50 TJ/day H1 FY22 H2 FY22 H1 FY23 H2 FY23 Sole GSA MDQ1: 47.7 TJ/day Indictative Annie Only Indicative OP3D 0 T T 10 15 20 25 30 35 40 Spot Gas Price, A$/GJ At A$10/GJ spot prices and a 10 TJ/d increase in processing rates, the Gippsland Basin hub can generate an additional ~A$35 million EBITDAX² A$450-800MM estimated replacement cost³ 4-5 year estimated time to obtain regulatory approvals and develop Third-party gas processing opportunities Future re-purposing opportunities (gas storage or CCS) Potential for 6x the current average processing rate OP3D to deliver step change in production 1Sole GSA MDQ represents aggregate maximum daily quantity sold under Cooper Energy's gas sale agreements. Based on calendar year 2023 contract quantities | 2Rate and spot price for illustrative purposes | ³Cooper Energy estimates based on publicly available analogue gas plant costs escalated to Jan 2023 ENERGY COOPER 7 150

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