Announcement PDF ADX Energy Ltd ABN 50 009 058 646 H A L F - Y E A R F I N A N C I A L R E P O R T F O R T H E S I X M O N T H S E N D E D 3 0 J U N E 2 0 2 6 A D X E N E R G Y L T D C O R P O R A T E D I R E C T O R Y 2 Directors Ian Tchacos (Executive Chairman) Paul Fink (Executive Director) Edouard Etienvre (Non-Executive Director) David Gilbert (Non-Executive Director) Company Secretaries Peter Ironside Amanda Sparks Registered and Principal Office Level 1, 168 Stirling Highway Nedlands, Western Australia 6009 Telephone: +61 8 9381 4266 Web Page: www.adxenergy.com.au Email: admin@adxenergy.com.au Share Registry Computershare Investor Services Pty Ltd Level 11 221 St George’s Terrace Perth, Western Australia 6000 Telephone: +61 8 9323 2001 Facsimile: +61 8 9323 2033 Solicitors Steinepreis Paganin Level 4, Next Building 16 Milligan Street Perth Western Australia 6000 Bankers Commonwealth Bank of Australia 1254 Hay Street West Perth Western Australia 6005 Stock Exchange Listing Australian Securities Exchange Ltd 152-158 St Georges Terrace Perth Western Australia 6000 ASX Code: ADX Auditors In.Corp Audit & Assurance Pty Ltd Suite 11, 4 Ventnor Avenue West Perth, Western Australia 6005 A D X E N E R G Y L T D D I R E C T O R S ’ R E P O R T 3 Your Directors submit their report for the half-year ended 30 June 2026. DIRECTORS The names of Directors of the Company during or since the half-year and up to the date of this report are as below. Directors were in office for this entire period unless otherwise stated. Name Position Mr Ian Tchacos Executive Chairman Mr Paul Fink CEO and Executive Director Mr Edouard Etienvre Non-Executive Director Mr David Gilbert Non-Executive Director REVIEW AND RESULTS OF OPERATIONS Summary of Financial Performance A summary of key financial indicators for the Group is set out in the following table: Consolidated Consolidated 6 Months to 30 June 2026 6 Months to 30 June 2025 $ $ Net loss for the half-year after tax attributable to members of the Parent Entity (5,724,488) (4,484,362) Included in loss for the half-year: Operating revenue, net of hedging 5,296,357 6,160,469 Cost of sales – operating costs (4,915,843) (4,469,751) Cost of sales – royalties (425,072) (417,023) Cost of sales – depreciation/amortisation (1,632,980) (1,886,682) Cost of sales – partner share of operations (33,131) 990 Restoration expenses – changes in abandonment provision (221,556) (161,717) Exploration expensed (2,151,846) (1,752,240) Basic (loss) per share (cents) (0.695) (0.78) Net cash from/(used in) operating activities (3,486,412) (1,734,611) Net cash from/(used in) investing activities (2,260,461) (2,457,253) Net cash from/(used in) financing activities 3,311,343 (395,867) Production (Gross) in Austria was as follows: 6 Months to 30 June 2026 6 Months to 30 June 2025 Crude Oil Sold (Barrels)* 40,320 54,790 Gas Delivered (M3 ) 313,322 405,273 Total Oil Equivalent (BOE) 42,228 57,256 Average Rate (BOEPD) 233 316 * Crude oil sold represents total gross production. This includes 17,338 barrels of crude oil sold from the Anshof-3 and Anshof-2A wells for the six months to 30 June 2026 (2025: 18,441). Refer to note 13 of the financial statements for partnership details for the Anshof-3 and Anshof-2A wells. A D X E N E R G Y L T D D I R E C T O R S ’ R E P O R T 4 Placement Raising A$ 4.4 million In March 2026, ADX advised it had successfully raised A$4.4 million from (before costs) via the issue of 163 million new fully paid ordinary shares at an issue price of A$0.027 per share. One (1) free-attaching unlisted option was issued for every two (2) Placement Shares. The exercise price of the Placement Options is A$0.0405 with an expiry date of 20 May 2028. In addition, on 16 January 2026, after Shareholder approval, ADX issued 4.6 million shares (A$120,000) to Directors who participated in the Placement completed in November 2025. This included one (1) free-attaching unlisted option for every two (2) Placement Shares. The exercise price of the Placement Options is A$0.039 with an expiry date of 17 January 2028. Loan Notes: On 10 March 2026, ADX announced that it had entered into deeds of variation with the Loan Note holders in relation to 15 Loan Notes of A$ 50,000 each totalling A$ 750,000 (Loan Notes). • Ten (10) Loan Notes of A$ 50,000 each (A$ 500,000 in total) were repaid on the original repayment date of 31 March 2026. • Under the revised terms, the repayment period has been extended to 30 September 2027. The revised terms for the Loan Notes are summarised as follows: Loan Note A Loan Note B Total Loan Notes Face Value of Each Loan Note $50,000 $50,000 $50,000 Number of Loan Notes Issued 4 11 15 Total Loans aggregate amount $200,000 $550,000 $750,000 Loan Repayment Date 30 September 2027 30 September 2027 30 September 2027 Interest Rate per annum (payable quarterly in arrears) 10% 14% 10-14% Free Attaching Unlisted Options with an Exercise Price of $0.045, expiring 31 May 2028– Per Loan Note 1,000,000 per Loan Note (4,000,000 in Total) 900,000 per Loan Note (9,900,000 in Total) 13,900,000 in Total A D X E N E R G Y L T D D I R E C T O R S ’ R E P O R T 5 Operations Review ACTIVITIES OVERVIEW ADX Energy Ltd (ASX: ADX, “ADX” or “the Company”) is pleased to provide an update on its activities for the half-year ended 30 June 2026. The Company’s focus during the period was on increasing production from its existing Austrian production operations, adding near-term gas production and reserves form its shallow gas exploration program in Upper Austria and continuing to develop its high impact gas portfolio at the Welchau discovery and its Sicily Channel permit. Energy Landscape in Europe ADX is fortunate to operate in Tier 1 jurisdictions in Austria and Italy with excellent access to infrastructure and premium oil and gas pricing. ADX sells its oil in Austria at Brent oil price equivalent and gas at Central European Gas Hub (“CEGH”) pricing. Brent oil price during the half year averaged US$ 92.57 per barrel, increasing from an average of US$ 80.61 per barrel in the first quarter to US$ 104.52 per barrel in the second quarter. Gas prices increased from EUR 33.7 per MWh to EUR 48.8 per MWh during the same period. Prolonged supply disruptions and oil inventory drawdown globally due to the Iran war has continued to put upwards pressure on crude prices. European gas prices exceeded EUR 60.0 per MWh during August 2026 (approx. US$ 20 per MMBTU or US$ 120 per barrel equivalent) due to a combination of LNG supply disruptions from Qatar, seasonally low European gas storage and a ban on short-term Russian pipeline gas contracts taking effect on 17 June 2026 with long-term contracts to be phased out through 2027. Continued high oil prices are expected to have a positive near-term impact on ADX’ current oil production. At the same time, ongoing gas shortages in Europe, combined with the region’s significant dependence on imports, are expected to increase the strategic importance of European-sourced gas and enhance the value of ADX’ substantial gas exploration portfolio. Elevated gas prices are also expected to enhance potential near-term cash flow from ADX’ shallow gas drilling programme in Austria. Refer to the European Energy Markets section of this Operations Overview for a more detailed analysis of European Energy Markets. Highlights for the Half Year Ended 30 June 2026 • ADX share of oil and gas production in Austria totalled 35,998 BOE, equivalent to 199 BOEPD, during the reporting period, compared with 40,682 BOE, equivalent to 221 BOEPD, during the previous six-month period. This represents a 12% decrease in production. • Despite the lower production volumes, net sales revenues increased by 13%, from A$ 3.89 million in the previous six- month period to A$ 4.41 million for the six months ended 30 June 2026. • After the reporting date net Austrian Production increased by 35% to 285 barrels per day following a program of behind pipe perforations at the Vienna Basin fields. Refer to ASX release dated 9 July 2026. • Zero lost time incidents (LTI) were recorded during the reporting period for safety or environmental causes at ADX’ Vienna Basin Fields, the Anshof Field and the Company’s exploration operations activities in Austria. ADX implemented processes for the precise measurement, quantification, monitoring, reporting, and verification of methane emissions. This work is necessary for the Company’s operations to comply with new European Union (EU) methane emission regulations. • Testing of the Welchau-1 well in February 2026 recovered live oil and confirmed an updip light oil accumulation. A resource update was announced for the Welchau updip light oil accumulation and downdip gas connected to the Molln-1 well of 387BCF P(mean) and 31 MMBBL P(mean) Prospective Resources 1, 2 . Refer to ASX release 3 March 2026. A D X E N E R G Y L T D D I R E C T O R S ’ R E P O R T 6 • Permitting was completed for three (3) shallow gas prospects in Upper Austria. Further shallow gas prospects and multiple Anshof near field oil prospects were also matured for drilling. • The HOCH-1 shallow gas exploration well was drilled, cased and completed on 15 May 2026. The well intersected multiple gas zones. The first gas zone tested produced at a stable rate 2.7 MMSCFPD (450 Barrel/day equivalent). Refer to ASX release 22 June 2026. • The Prospective Resource estimate 619 BCF P(mean) 1, 2 for the Sicily channel C.R150.AU exploration permit was further confirmed by additional seismic data acquisition and prospect maturation work. A data room visit to review the analogous ENI operated Lippone Mazara also supported ADX prospective resources estimates. • After the reporting date ADX announced an independent review of Sicily channel, ADX C.R150. AU exploration permit by RISC Advisory Pty Ltd (“Risc”). Risc confirmed the potential of the Sicily Channel gas play and supported ADX resource estimation methodology for the C.R150.AU exploration permit. Refer to ASX release dated 6 July 2026. • A farmout program was initiated to secure off balance sheet funding for near-term drilling opportunities in Upper Austria held at 100% equity. The focus of the farmout program is on shallow gas prospects and Anshof near field oil opportunities in the ADX-AT-II licence. The prospects are both mature and licenced for drilling. 1 Refer to Prospect Inventory in Schedule 1 of this report. 2 Cautionary Statement: Prospective Resources are those estimated quantities of petroleum that may potentially be recovered by the application of a future development project(s) relate to undiscovered accumulations. These estimates have both a risk of discovery and a risk of development. Further exploration appraisal and evaluation is required to determine the existence of a significant quantity of potentially recoverable hydrocarbons. Figure 1: Map showing ADX production and exploration assets in Austria as well as hydrocarbon export infrastructure A D X E N E R G Y L T D D I R E C T O R S ’ R E P O R T 7 Figure 2: Group cash movements showing inflows and outflows by category during the 6 months ending 30 June 2026 During the reporting period, A$ 5.2 million was generated from production revenue and other operating income. The Company’s operating costs, corporate and administration costs were A$ 5.7 million. The most notable expenditures relate to exploration costs of A$ 2.2 million and capital costs of approximately A$ 4.9 million for drilling and production wells were offset by A$3.0 million in Receipts from partners. Due to increased production following recent workovers, together with strengthening oil and gas prices, revenue is expected to increase by approximately 20% during the second half of the year. Strategic Objectives ADX Energy is uniquely positioned as a producer and explorer in Europe, with the ability to: • Leverage its existing production and export infrastructure to support future production growth; and • Rapidly commercialise new discoveries in high-value European oil and gas markets. In Austria, ADX has stable, cash-generating production supported by a pipeline of near-term appraisal and low risk exploration. Its broader asset portfolio also includes high-impact gas exploration growth opportunities in Austria and offshore Italy. Central to the Company’s strategy is ADX’s ability to generate opportunities and operate assets in multiple European jurisdictions. This ability has already resulted in multiple farmout transactions for higher risk projects to maximise value while minimising risk exposure. In the near-term ADX is seeking to build the scale, value and strength of its business through rapid organic growth focussing on production enhancements, appraisal and low-risk exploration proximal to infrastructure. A D X E N E R G Y L T D D I R E C T O R S ’ R E P O R T 8 Figure 3: Map showing ADX’ prospect inventory in Upper Austria Planned activities during the remainder of 2026 and 2027 to achieve the above objectives are: 1. An ongoing production optimisation program, preparation for infill development drilling as well as appraisal drilling to increase production and reserves at the Vienna Basin Oil fields, 2. Ongoing testing and development of the HOCH-1 gas discovery in Upper Austria, 3. The drilling of two additional low risk shallow gas exploration wells in Upper Austria (GOLD & SCHOE) which are already permitted, 4. Drilling of a nearfield oil exploration well (PERG) proximal to the Anshof oil field production facility, and 5. Continuation of a farmout program to secure off balance sheet funding for near-term drilling opportunities, in Upper Austria, which are held at a 100% equity interest. Success in the above activities is expected to deliver a significant, multiple-fold increase in the Company’s production in the near-term. In parallel with this production focussed program ADX is progressing the definition and development of its Welchau-1 discovery and its Sicily Channel assets with: 1. The deepening of the Welchau-1 well to appraise a large potential gas accumulation discovered by the down dip historic Molln-1 gas condensate discovery, and 2. Expansion of its Sicily Channel gas play position and the acquisition of new 3D seismic in the C.R150. AU exploration permit prior to drilling. The Sicily Channel is a unique biogenic gas play confirmed by historic drilling located in shallow water adjacent to the only large scale pipeline access to Europe. A D X E N E R G Y L T D D I R E C T O R S ’ R E P O R T 9 Figure 4: Map showing ADX Sicily Channel Permit as well as exploration positions being secured by the major oil and gas companies in the Mediterranean Sea The Company has built an enviable portfolio of near-term growth assets that are permitted and drill ready, complemented by longer-term, high-impact exploration opportunities. Our immediate priority is to convert drillable prospects, discoveries and development opportunities into production and cash flow. Production growth, supported by strategic farm-in partnerships, is expected to create shareholder value and enable the Company to realise the potential of its asset portfolio while minimising the need for further shareholder dilution. ADX’s strategy is consistent with its position as a Europe-focused oil and gas producer and explorer, with assets across Austria, Romania and Italy. Your Board appreciates the support of its shareholders. We have a very active program planned for the coming reporting period, and we look forward to updating shareholders on our progress. European Energy Markets The attack of Iran by the United States and Israel on 28 February 2026 has dramatically changed the dynamics of the oil and gas markets in Europe during the reporting period by causing supply constraints due to the de facto “closure” of the Strait of Hormuz (through which 20% of seaborne oil flows and 25% of liquified natural gas flows transit). As a result of the closure the oil price has surged and resulted in significant volatility. During the first half of 2026, European gas prices (Dutch TTF benchmark) averaged approx. EUR 43 per MWh (equivalent to US$ 14.72 per MMBtu or US$ 88 per bbl) and Brent crude oil prices averaged US$ 87 per bbl. Due to Iranian strikes on Qatar’s liquified natural gas (LNG) facilities in March 2026 and the closure of the Strait of Hormuz, LNG exports from Qatar dropped by 62% which has been compensated by increased LNG exports from the United States as well as production from new LNG projects. A D X E N E R G Y L T D D I R E C T O R S ’ R E P O R T 10 Following Europe’s coldest winter since 2011, underground gas storage inventories reached their seasonal low on 31 March 2026 at just 27.7% full. Although U.S. LNG exports rose by +23% year-on-year during the reporting period and new LNG capacity came on line, European LNG buyers faced fierce competition for LNG cargoes from Asian buyers in May and June, constraining storage refill rates through the first half of 2026. By 30 June, storage levels had recovered only to 49.1%. As of the date of this report, gas storage inventories in Europe are at 62% full, 18% below last year’s level. With the EU target of >90% full by 1 November in force, the shortfall has pushed gas prices above EUR 65 per MWh (US$ 22.3 per MMBtu or US$ 134 per boe) in August 2026 - the highest level in 3 years. The combination of natural gas supply constraints (reduced flows of LNG and further phasing out of Russian gas through 2027); uncertainty in the Middle East with no clear path to a sustainable resolution; and elevated gas prices in Europe, highlight the relevance of ADX Energy’s portfolio of gas assets which provide potential for a rapid build-up of production and cashflow. The tensions in the Middle East and the “closure” of the Strait of Hormuz have also impacted the oil market in Europe causing Brent price spikes with a peak at US$ 126 per bbl in April 2026. Over the reporting period, Brent prices averaged US$ 87 per bbl, up 33% compared to H2 2025. The logistical bottleneck in the Persian Gulf has dramatically changed the dynamics of the crude oil and petroleum products’ markets by shifting the market from oversupply to undersupply (8.3 million barrels per day of production in the Persian Gulf is currently shut-in) necessitating the drawdown of crude oil inventories (2.7 million barrels per day from end of February to end of July 2026). The spikes in the Brent crude oil premium to West Texas Intermediate to more than US$ 18 per bbl reflects a lower supply risk in the U.S. which is self-sufficient and a net exporter. Despite demand destruction caused by elevated prices, the International Energy Agency (IEA) anticipates a supply deficit of 1.8 million bbl per day for Q3 2026 which is anticipated to support high Brent crude oil prices in the second half of 2026. A D X E N E R G Y L T D D I R E C T O R S ’ R E P O R T 11 ASSET ACTIVITIES SUMMARY Production Assets, Vienna Basin Fields and Anshof Field – Onshore Austria ADX is operator and holds a 100% interest in the Vienna Basin production licences. ADX is operator and holds a 70% economic interest in the Anshof Field Area (including the Anshof-3 production well) and a 60% economic interest in Anshof-2A well. ADX energy production rate during the half year averaged approximately 199 BOEPD compared to 221 BOEPD for the six months to December 2025. The 10% production decrease was primarily attributed to wells in the Vienna Basin Fields. A well workover program was successful completed in the Vienna Basin Fields to mitigate production decline. The programme comprised two (2) subsurface interventions and two (2) equipment changes. Behind pipe perforations were undertaken on two (2) production wells, GA-10A and GA-93. Following the reporting period, these interventions increased production by 24 BOPD of oil and 52 BOEPD of gas respectively. Energy Production ADX Share (boepd) H1 2026 30-Jun-2026 H2 2025 31-Dec-2025 Comment Anshof 61 61 Vienna Basin Fields 138 160 Well workover program boosted production to over 210 BOEPD, post reporting period. TOTAL 199 221 Figure 5: Showing net monthly oil-equivalent production and average daily oil-equivalent production rates for the Anshof Field and Vienna Basin Fields. A D X E N E R G Y L T D D I R E C T O R S ’ R E P O R T 12 Field Revenues and Product Pricing, Vienna Basin Fields and Anshof Field Oil and gas sales revenue for the six-month period ended 30 June 2026 totalled A$ 4.4 million, net to ADX, representing a 13% increase compared with A$ 3.9 million for the six months ended 31 December 2025. The increase in revenue was driven by higher realised oil and gas prices, which more than offset the effect of lower production volumes. The average Brent crude oil sales price increased to US$92.57 per barrel during the reporting period, compared with US$ 66.38 per barrel in the previous six-month period. Average gas sales price also increased, to EUR 40.89 per MWh compared with EUR 35.04 per MWh for the six months ended 31 December 2025. Oil sales accounted for 95% of total sales revenue during the reporting period, compared with 93% in the previous six- month period. Consequently, sales revenue increased despite lower oil and gas production volumes. Figure 6: Showing Anshof and Vienna Basin fields monthly oil and gas sales revenue European Methane Emissions Compliance ADX remains committed to meeting and exceeding its environmental obligations, with methane recognised as a key contributor to climate change and an increasing regulatory focus. With the EU’s first methane emissions regulation for the energy sector now in force and being phased in over three years, a structured compliance approach is warranted to ensure accurate measurement, monitoring, reporting and verification of emissions, and to prioritise re-injection, utilisation or marketing of methane over venting or flaring. In line with this, ADX has commenced baseline evaluations and preparatory work to align its operations with the regulation’s leak detection and repair (LDAR), transparency and emissions-reduction obligations, building on the LDAR program approved by the Austrian Mining Authority and implemented on site in August 2025. Hedging There were no hedging contracts in place during the quarter. ADX continues to monitor market conditions for further hedging during 2026. A D X E N E R G Y L T D D I R E C T O R S ’ R E P O R T 13 Vienna Basin Infill Well Opportunities During the reporting period, the infill drilling and appraisal programme for the Vienna Basin oil and gas fields was further developed, with potential drilling targeted for 2027. The programme comprises one development well, GA-96, and one appraisal well, RAG-57. The proposed wells are considered economically attractive due to the fields’ low royalty burden, available processing capacity, low incremental operating costs and pricing linked to Brent-equivalent oil prices. GA-96 Development Well The GA-96 development well, with a planned total depth of approximately 2,300 m MD, will target the Sarmatian and Badenian reservoirs. Under the base-case scenario, the well is expected to recover approximately 240,000 barrels of crude oil. GA-96 can be drilled from an existing well pad and connected rapidly to existing infrastructure. This is expected to minimise tie-in costs and enable production to commence shortly after drilling and completion. RAG-57 Appraisal Well The RAG-57 appraisal well, with a planned total depth of approximately 1,800 m MD, will target several Sarmatian reservoirs. Under the base-case scenario, the well is expected to recover approximately 910,000 barrels of crude oil. The well is located close to existing oil-field infrastructure, enabling an expedited pipeline tie-in and supporting the project’s overall economics. Figure 7: Vienna Basin fields production permits and in fill well locations Together, GA-96 and RAG-57 provide the potential to materially increase developed reserves, field production rates and profitability from the Vienna Basin Fields. A D X E N E R G Y L T D D I R E C T O R S ’ R E P O R T 14 Production and Development Activities Anshof Oil Project – Anshof Field Area, ADX-AT-II Licence, Upper Austria ADX is operator of the ADX-AT-II exploration licence and holds a 70% economic interest in the Anshof Field Area (including the Anshof-3 production well), a 60% economic interest in Anshof-2A well and a 100% economic interest in the remainder of the licence (excluding the Anshof Field Area, Anshof-2A well and Welchau Investment Area). Figure 8: Location map for the Anshof Field Area within the ADX-AT-II licence and the nearby low-risk follow up satellite oil prospects (ADX 100% economic interest) Anshof Field Production The total Anshof field production was 17,169 barrels during the half-year. At the end of the reporting period the field production was at 108 BOPD. Anshof-3 was producing 36 BOPD and Anshof-2A was producing 71 BOPD. Field water-cut remained stable during the reporting period at 40%. During the reporting period, the Anshof-3 well and Anshof-2A wells achieved production uptimes of 95.8% and 93.4% respectively. Both wells were temporarily shut-in to enable planned facility maintenance, replacement of the leased combined heat and power (CHP) unit with a permanent CHP unit, installation of a new air cooler unit to ensure compliance with EU Regulation 2024/1787 and eliminate gas emissions, and acquisition of reservoir pressure build-up data. A D X E N E R G Y L T D D I R E C T O R S ’ R E P O R T 15 Anshof Reservoir Management The pressure response between Anshof-3 and Anshof-2A confirms that the wells are in a continuous oil pool with pressure communication (refer to the figure below). During the reporting period, the production rates for each of the wells were optimised to support reservoir management objectives, ensuring that the bottom hole flowing pressure for both wells remain above the oil’s bubble point pressure i.e. the pressure threshold below which gas begins to come out of solution from the oil in the reservoir. The wells continue to perform very well. Figure 9: Anshof field outline showing areas of increased Eocene reservoir thickness and the interpreted field oil- water-contact (OWC) at 1,593 m TVDSS. The bottom-hole locations of the Anshof-3 discovery well, Anshof-2A sidetrack well, and the Anshof-2 well are shown Permanent Production Facility (PPF) The PPF continued to perform very well with production from the Anshof-3 and Anshof-2A wells The PPF has the capacity to process oil from multiple wells with production capacity of approximately 3,000 barrels per day. It is envisaged that the PPF will process further production from planned near-field appraisal and exploration programs such as the planned PERG-1 well in the ADX-AT-II permit. The facility can also potentially process crude oil from future discoveries within ADX’ Upper Austria exploration licences. The facility is mostly unmanned and operates 24 hours per day with wireless data transmission. Oil production from the PPF is trucked to a nearby train loading facility and associated gas is used for power generation and process heat. Produced water is trucked and disposed of at ADX’s Zistersdorf facility. ADX continues to pursue a technically and commercially viable alternative for disposing of Anshof's produced water, potentially replacing the current disposal solution at the Vienna Basin Fields with one nearer to Anshof. The PPF provides the following opportunities to optimise field production at Anshof: • increased production capacity (3,000 BPD); • capability to process oil from multiple wells; • additional oil storage capacity; • use of associated gas for power generation and process heat; • enhanced automation requiring less manual operations; and • utilisation of the facility to process oil from other fields discovered in the area. ANS-3 Discovery Oil Producer ANS-2A Appraisal Oil Producer ANS-2 Interpreted OWC 1593mTVDSS A D X E N E R G Y L T D D I R E C T O R S ’ R E P O R T 16 Figure 10: Photograph showing the Anshof-3 well (left side, photo) and the Anshof-2A well (right side, photo) producing into the PPF APPRAISAL AND EXPLORATION ACTIVITIES AUSTRIA Upper Austria AGS Licences – Molasse Basin – Onshore Austria ADX is operator and holds the following interests in Upper Austria: ADX-AT-I: ADX holds a 100% interest in the ADX-AT-I exploration licence, except as follows: • ADX’ interest in part of this licence, the MND Investment Area, has reduced to 50% after completion of MND’s investment obligations under the energy investment agreement relating to the MND Investment Area with the funding of the LICHT-1 well. ADX-AT-II: ADX holds a 100% interest in the ADX-AT-II exploration licence, except as follows: • ADX holds a 75% interest in the Welchau Area; and • ADX holds a 70% economic interest in the Anshof Field Area other than the Anshof-2A well in which ADX holds a 60% economic interest (refer ASX release dated 4 June 2025). Summary of six months to June 2026 main activities During the reporting period exploration and appraisal work in Upper Austria focussed on the following activities: • ADX AT-I licence area o The drilling and testing of the HOCH-1 exploration well. o Finalisation of low-risk shallow gas prospects (FUCHS, SAND, EHREN) as well as significant resources increases and risk reductions of the BUCH gas prospect. o The 3D Seismic Pre-Stack Depth Migration (PSDM) project. o Detailed geological and geophysical studies are progressing to further define and de-risk the large southern gas prospects, while also evaluating additional exploration opportunities with potential resources exceeding 100 BCF. The results are expected in Q4 2026. A D X E N E R G Y L T D D I R E C T O R S ’ R E P O R T 17 • ADX AT-II licence area o The resumption of Welchau-1 well testing operations, updating of the resource estimates and the partial recultivation of the drilli