Corporate Presentation
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Released
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ADX Energy Ltd | ASX: ADX | ABN 50 009 058 646
Corporate Presentation
Date of Presentation 17 September 2026
A Multi-Well Program focussing on
rapid production growth
A European Focussed
Producer and Explorer
2
ASX:
ADX
Corporate Presentation | June 2026
DISCLAIMER
2
Cautionary Statement
IMPORTANT NOTICE:
This document has been prepared by ADX Energy Ltd (“ADX”) for the purpose of providing information to interested
analysts, investors and shareholders. Any statement, opinions, projections, forecasts or other materials contained in this
document do not constitute any commitments, representations or warranties by ADX or its directors, agents and employees.
Except as required by law, and only to the extent so required, directors, agents and employees of ADX shall in no way be
liable to any person or body for any loss, claim, demand, damages, costs or expenses of whatsoever nature arising in any
way out of, or in connection with, the information contained in this document. This document includes certain statements,
opinions, projections, forecasts and other material, which reflect various assumptions. The assumptions may or may not
prove to be correct. ADX recommends that potential investors consult their professional advisor(s) as investment in the
company is considered to be speculative in nature.
The information in this presentation is in summary form only and does not contain all the information necessary to fully
evaluate any transaction or investment. It should be read in conjunction with ADX’ other periodic and continuous disclosure
announcements lodged with the ASX. This document does not constitute an offer, invitation or recommendation to subscribe
for or purchase securities and does not form the basis of any contract or commitment.
Pursuant to the requirements of the ASX Listing Rule 5.41 and 5.43 the technical and Prospective Resources information
relating to Austria and Italy contained in this presentation has been reviewed by Paul Fink as part of the due diligence
process on behalf of ADX. Mr. Fink is Technical Director of ADX Energy Ltd is a qualified geophysicist with 30 years of
technical, commercial and management experience in exploration for, appraisal and development of oil and gas resources.
Mr. Fink is a member of the EAGE (European Association of Geoscientists & Engineers) and FIDIC (Federation of
Consulting Engineers). ADX confirms that it is not aware of any new information or data that may materially affect the
information included in the relevant market announcements for reserves or resources and that all material assumptions and
technical parameters underpinning the estimates in the relevant market announcements continue to apply and have not
materially changed.
Independent audit of developed reserves have been completed for ADX’ Zistersdorf and Gaiselberg fields (“Fields”) in the
Vienna basin and Anshof in Upper Austria (Austria) by RISC Advisory Pty Ltd (“RISC”). RISC conducted an independent
audit of ADX’ Fields evaluations, including production forecasts, cost estimates and project economics. Production from
existing wells is classified as Developed Producing. Production from planned recompletion of existing wells to new intervals
is classified as Developed Non-Producing. RISC is an independent advisory firm offering the highest level of technical and
commercial advice to a broad range of clients in the energy industries worldwide. RISC has offices in London, Perth,
Brisbane and South-East Asia and has completed assignments in more than 90 countries for over 500 clients and has
grown to become an international energy advisor of choice.
PRMS RESERVES CLASSIFICATIONS USED IN THIS PRESENTATION:
Developed Reserves are quantities expected to be recovered from existing wells and facilities.
Developed Producing Reserves are expected to be recovered from completion intervals that are open and producing at the
time of the estimate.
Developed Non-Producing Reserves include shut-in and behind-pipe reserves with minor costs to access.
Undeveloped Reserves are quantities expected to be recovered through future significant investments.
A. Proved Reserves (1P) are those quantities of Petroleum that by analysis of geoscience and engineering data, can be
estimated with reasonable certainty to be commercially recoverable from known reservoirs and under defined technical and
commercial conditions. If deterministic methods are used, the term “reasonable certainty” is intended to express a high degree
of confidence that the quantities will be recovered. If probabilistic methods are used, there should be at least a 90% probability
that the quantities actually recovered will be equal or exceed the estimate.
B. Probable Reserves are those additional Reserves which analysis of geoscience and engineering data indicate are less
likely to be recovered than Possible Reserves. It is equally likely that actual remaining quantities recovered will be greater than
or less than the sum of the estimated Proved plus Probable Reserves (2P). In this context, when probabilistic methods are
used, there should be at least a 50% probability that the actual quantities recovered will equal or exceed the 2P estimate.
C. Possible Reserves are those additional Reserves that analysis of geoscience and engineering data suggest are less likely
to be recoverable that Probable Reserves. The total quantities ultimately recovered from the project have a low probability to
exceed the sum of Proved plus Probable plus Possible (3P) Reserves, which is equivalent to the high-estimate scenario. When
probabilistic methods are used, there should be at least a 10% probability that the actual quantities recovered will equal or
exceed the 3P estimate. Possible Reserves that are located outside the 2P area (not upside quantities to the 2P scenario) may
exist only when the commercial and technical maturity criteria have been met (that incorporate the Possible development
scope). Standalone Possible Reserves must reference a commercial 2P project.
PROSPECTIVE RESOURCE CLASSIFICATIONS USED IN THIS PRESENTATION:
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 an associated risk of discovery
and a risk of development. Further explorations appraisal and evaluation is required to determine the existence of a significant
quantity of potentially moveable hydrocarbons.
P(90) Estimate or Low Estimate: means at least a 90% probability that the quantities actually recovered will equal or exceed
the estimate.
P(50) Estimate or Best Estimate: means At least a 50% probability that the quantities actually recovered will equal or exceed
the estimate.
P(10) Estimate or High Estimate: means At least a 10% probability that the quantities actually recovered will equal or exceed
the estimate.
OIL AND GAS CONVERSIONS
BOE means barrels of oil equivalent. Bcfe means billion of cubic feet of gas equivalent. Gas to oil conversion used in this
presentation: 6 Mcf of gas = 1 barrel of oil. Mcf means thousand cubic feet of gas
Corporate Presentation I 17 September 2026
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ASX:
ADX
Corporate Presentation | June 2026
HIGH VALUE EUROPEAN ENERGY PORTFOLIO
3
Stable production base and transformational exploration in premium energy markets *
Asset Attributes
High value hydrocarbons - Brent & CGH gas price 1
Excellent access to infrastructure
Seismic and well data base availability
Rapid licencing in pro-development Tier 1 jurisdictions
Increased focus on gas
Vienna Basin Oil Fields | Austria
Anshof Oil Field | Upper Austria
Upper Austria Exploration Assets
Sicily Channel Permit | Italy
Production Licence | Romania
* ADX Energy operates all production and exploration assets
1 Central European Gas Hub
Three new
applications
Corporate Presentation I 17 September 2026
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ASX:
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Corporate Presentation | June 2026
COMPANY OVERVIEW
4
Stable production, near term reserve growth and high-impact exploration
EXPLORATION PORTFOLIO RESOURCES
NET to ADX MMBOE – P(MEAN)
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 an associated risk of discovery and a risk of development. Further explorations
appraisal and evaluation is required to determine the existence of a significant quantity of potentially
moveable hydrocarbons.
1 ASX Release 9 July 2026,
2 Unaudited Reserves on 31 December 2025
3 Prospective Resources reporting date update 3.3.2026; see slide 19
4 Prospective Resources reporting date update 2.12.2025; see slide 19
5 Reporting date on 3.3.2026; see slide 19
Austrian Current Production
285 BOEPD 1
Austrian Exploration Portfolio
570 BCF Gas & 55 MMBBL Oil 3
Sicily Channel Gas Permit
619 BCF Gas 4
Multiple Farmouts
Accelerate programs & reduce risk
Operating Capability
Generate, Explore & Develop
Austrian 2(P) Reserves
1.47 MMBOE 2
Vienna Basin Fields and Anshof field
High Equity Interests
Ability to control program and transact
EXPLORATION PORTFOLIO RESOURCES
NET to ADX MMBOE – P(MEAN)
Upper Austria – Gas
95 MMBOE
Sicily Channel – Gas
103 MMBOE
Upper Austria – Oil
55 MMBBL Total – 253 MMBOE5
Portfolio - 82% Gas / 18% Oil
Corporate Presentation I 17 September 2026
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ASX:
ADX
Corporate Presentation | June 2026
BOARD AND CAPITAL STRUCTURE
5
Experienced leadership team with relevant experience and local relationships
Board & Senior Management Team
Ian Tchacos
B.Eng (Mech.) & Grad.Dip (Chem Eng)
Executive Chairman
Petroleum engineer with more than 30 years of international oil and gas experience spanning
corporate strategy, M&A, exploration, development, production operations and energy finance.
Former Managing Director of Nexus Energy, where he led its growth from a micro-cap explorer
to an ASX Top 200 producer and operator.
Paul Fink
Msc (Geophysics)
CEO & Executive Director
Petroleum industry executive and geophysicist with over 25 years of international exploration
and production experience across Europe, North Africa, Asia and Australia. Former senior
manager with OMV and Vice President of Focus Energy, where he helped deliver a major
exploration success and the IPO of Indus Gas on the London Stock Exchange.
Edouard Etienvre
MSc (Management)
Non-Executive Director
Energy and natural resources executive with over 20 years of experience across oil & gas,
mining, shipping and offshore sectors. Brings extensive expertise in commercial strategy,
business development, financing, M&A, project management and transaction structuring.
Dave Gilbert
MSc (Petroleum Geology)
Non-Executive Director
Highly experienced petroleum geologist with more than 35 years in exploration and production,
including senior roles with Petrofina, Apache and OMV. Extensive expertise in exploration
strategy, new ventures, project execution and managing international E&P operations across
Europe, North Africa and Asia-Pacific.
Alan Reingruber
MSc (Petroleum Engineering)
Managing Director,
ADX VIE GmbH
Petroleum engineer with 20 years of exploration and production experience in Austria. Former
senior executive with RAG Austria, where he managed oil assets and later led the company's
exploration and production business before joining ADX following the acquisition of RAG
assets.
Peter Ironside
Company Secretary
Chartered Accountant and corporate governance specialist with more than 40 years'
experience in the resources sector. Extensive expertise in financial management, compliance,
capital raisings and ASX-listed company administration, including involvement in several
successful corporate transactions.
Amanda Sparks
Company Secretary
Chartered Accountant and Fellow of FINSIA with over 30 years of resources industry financial
experience. Specialist in company secretarial services, financial management, capital raisings,
corporate transactions, governance and compliance for listed companies.
ASX listed oil & gas exploration and production company with European focus
Board comprised of international experienced, energy specialists
Corporate HQ in Perth, Australia and European operating office in Vienna,
Austria
Image | Drilling operations at Hoch-1 well
Ticker
ASX: ADX
FRA: GHU
Share price (at 15 September 2026) A$0.019
Number of shares 1084m
Number of options 461m
Market capitalisation A$20.6M
Cash (unrestricted) at 30 June 2026 A$2.2M
Debt A$0.8M
Enterprise value A$19.1M
Number of shareholders 2,101
Corporate Presentation I 17 September 2026
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ASX:
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Corporate Presentation | June 2026
EUROPEAN MACRO GAS FUNDAMENTALS
High dependence on imported gas
Lack of investment in domestic gas exploration and production
Difficult regulatory environment in many jurisdictions
Delays in the implementation of renewable energy targets
Long term dependence on Russian gas
Supply vulnerability and gas price trends
Only 10% of Europe’s gas is produced domestically
33% of supply imported from Norway
Over 40% of supply imported as LNG from USA and Middle East
Russia still makes up 12% of supply mix
European and Asian gas prices impacted long term by Qatar facilities destruction
Current gas price is approx. EUR 83 per MWh (US$24/MMbtu) or US$ 167/BOE
Long term structural and policy fundamentals
Russian gas banned from EU by November 2027 (by legislative decree)
EU methane regulation creates a structural premium for low methane intensity gas
(MRV3 compliance). Up to 43% of EU gas imports at non-compliance risk from 2027
Ongoing reliance on LNG is a supply risk and creates a pricing floor
– Qatar supply disruption of approx. 5 years and US LNG will be MRV
noncompliant in 2027
6
Longterm supply vulnerability and pricing volatility
Russia (piped)
Russia (LNG)
Norway (LNG)
Norway (piped)
U.S.A. (LNG)
Algeria (LNG)
Algeria (piped)
Other (LNG)
U.K.
Azerbaijan
Libya
LNG =
46%
of supply
EU gas supply mix2
12.5 12.2
3.6
16.5
17.9
2.9
0
2
4
6
8
10
12
14
16
18
Dutch TTF (CME) LNG JKM (Platts) U.S. nat. gas (CME)
US$
per
MMBtu
2025 Since 28-Feb-26
Main gas price indexes1
Approx. 6 x US
and 3 x Australian
Eastern State
spot price
1 2025 average & average since 28-Feb-26; 2 Source: Bruegel; 3 Methane, Reporting and Verification of CH4 and CO2
Corporate Presentation I 17 September 2026
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ASX:
ADX
Corporate Presentation | June 2026
THE OPPORTUNITY
Establish ADX as a uniquely positioned producer and explorer
utilise existing production and export infrastructure for rapid production
expansion
rapid commercialisation of new discoveries in high value markets
Strategic footprint in premium energy markets
Tier 1 pro-development jurisdictions, large equity positions and the ability
to execute
Availability of historic data, proof of hydrocarbons, infrastructure access
and high value hydrocarbons
Build scale, value and strength of business
build production and reserves base through appraisal, low risk
exploration and development drilling in Austria
Unlock value of the Company’s large prospective resources
Welchau well deepening to test large gas condensate resource up dip of
Molln-1 discovery and Welchau side track to appraise up dip light oil
discovery in Upper Austria
Sicily Channel 3D seismic acquisition over gas prospects defined by
historic wells and 2D seismic. Develop position in a strategic gas play
Collaborative relationships with OMV in Austria and ENI in Italy
Opportunity to acquire synergistic OMV and ENI non-core assets upon
the development of ADX’ access to capital and the strength of its
balance sheet.
7
Build production base to achieve critical mass and unlock value of high impact exploration
Sicily Channel ADX’ C.R 150.AU Permit plus three additional applications.
The total area of the new applications as well as the C.R 150.AU Permit is
approximately 1650 km2
Corporate Presentation I 17 September 2026
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Corporate Presentation | June 2026
RECENT ACTIVITIES
Successful Welchau light oil test and a 3.5 fold increase in prospective gas resources
Updip Light Oil Accumulation confirmed by oil and gas recovered at surface
New mapping identifies - 18 MMBBL Pmean 1,2 up dip oil and down dip gas condensate
appraisal of 387 BCF Pmean 1,2
Well Deepening (approx. 700m) can access down dip gas play
8
Welchau-1 test, Upgrade Sicily Channel Resources, HOCH-1 shallow gas discovery and Production Increase
31% increase in Sicily channel gas resources supported by Independent Review
Updated resource estimates incorporating all available data 619 BCF Pmean 1,3
Independent review confirms resource estimates and play potential
Three new permit applications in extensive gas play
HOCH-1 well encountering multiple gas zones - the first zone tested 2.8 MMSCFPD
First of three permitted shallow gas wells to be drilled in 2026
8 gas sands encountered in well - 4 to 5 zones being tested to confirm volumes
First zone tested water free gas at approx. 450 BOEPD oil equivalent
Welchau -1 Up dip oil testing operations
HOCH -1 zone -1 gas testing operations
1Refer to Cautionary Statement in slide 4 of presentation
2Prospective Resources reporting update 3.3.2026; see slide 19
3Prospective Resources reporting update 2.12.2025; see slide 19
4ASX reporting date update 9.7.2026
Austrian production increased by 35% to 285 BOEPD 4
75 BOEPD increase in Vienna Basin Field production
Further infill drilling potential
Corporate Presentation I 17 September 2026
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ADX
Corporate Presentation | June 2026
NEAR TERM ACTIVITIES
HOCH-1 (50%) gas testing 5 zones, GOLD -1 (90%) 1 and SCHOE-1 (50%) low risk shallow gas drilling
Shallow gas and near field oil prospect farmout program to fund high equity wells
Nearfield oil drilling at PERG (100%), Vienna Basin Oil Field (100%) development drilling and Welchau deep
Sicily channel play expansion and seismic acquisition
9
Market Catalysts 2026 and 2027 – Focus on Production Growth and Progressing Sicily Channel and Welchau
July 26 July 27
Jan 27 Jan 28 July 28
Upper Austria Shallow Gas
Upper Austria Near Field Oil
Vienna Basin Production
Enhancement and
Development Drilling
Upper Austria Welchau
HOCH
Testing
GOLD
Drilling
SHOE
Drilling
PERG
Drilling
Sicily Channel
Shallow gas program production
Test production Permanent production
RAG -57
Drilling
GA-96
Drilling
Permanent production
Seismic Repro &
Mapping
Independent
Review
Welchau
Deepening
Independent
Review
Data
Purchases
Play
Expansion
3D Seismic Acquisition
2026
2027
Targeting 1000 BOEPD plus
Targeting further 700 BOEPD
Behind pipe production
enhancement
Corporate Presentation I 17 September 2026 1 Refer ASX announcement 14 September 2026 – partner to earn 10% by funding 20%
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ASX:
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Corporate Presentation | June 2026
AUSTRIAN PRODUCTION GROWTH WORK PROGRAM
10
Phased program focussed on rapid production build-up
Phase 1 Program: Upper Austrian - low risk shallow gas program – HOCH-1, GOLD and SHOE wells
Phase 2 and 3 Program: - Austrian near field oil exploration and development drilling program – Pergen and Vienna Basin Wells
Phase 1 Program
Production rate at ADX net
interest
Gross revenue split
EUR 3 million drill & testing
spend expected to deliver
approx. 1000 BOEPD net
production EUR 44 m
revenue
Phase 1, 2 and 3 Program
Production rate at ADX net
interest
Gross revenue split
EUR 12 million drill & testing
spend expected to deliver
approx. 1550 BOEPD net
production EUR 121 m
revenue
Corporate Presentation I 17 September 2026
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Corporate Presentation | June 2026
ESTABLISHED PRODUCTION BASE WITH GROWTH POTENTIAL
11
Low-decline operated assets with development upside and infrastructure capacity
70% Economic Interest
Anshof Oil Field
Current rate – 100 BOPD GROSS
100% Economic Interest
Vienna Basin Fields
Current rate – 220 BOEPD GROSS
High value, low
royalty production
with development
upside
1.57 mmbbl
2P developed
reserves 1
Land ownership, oil
piped to Vienna
refinery & access to
gas network
High value oil
from high quality
sandstone
reservoirs
3,000 bpd facility
and multiple near
field appraisal and
exploration targets
Oil transported
via truck and rail
to Vienna
refinery
1 Reserves Reporting Date & Valuation (Independently Audited) 04.11.2021 less production to 31 December 2024
Corporate Presentation I 17 September 2026
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Corporate Presentation | June 2026
UPPER AUSTRIA DRILLING PROGRAM TARGETING RAPID PRODUCTION
GROWTH
12
Phase 1 Shallow gas well program and Pergen near field oil prospect
01
HOCH-1
Production testing
ongoing at 50%
economic interest
02
GOLD-1
Shallow gas well 8.3 BCF
P(mean) 1,2 at 90%4
economic interest
03 04
Upper Austrian Exploration and Appraisal Portfolio
1
3
2 4
SCHOEN-1
Shallow gas well 6.3 BCF
P(mean) 1,2 at 50%
economic interest
PERGEN-1
Near-field oil prospect
6.5 MMBBLs P(mean) 1,2,3
at 100% economic interest
Project
Operational
Sequence
Drilling permitting approved in a short time of 4 – 6
months
HOCH-1 encountered 8 gas sands – testing of
first zone produced at 2.8 MMSCFPD June
2026
The GOLD and SCHOEN shallow gas
prospects to follow;
• Low drilling costs, large upside resources
and tie in to close by pipelines provides
rapid cashflow build up
• GOLD-1 partially farmout funded
PERGEN-1 near field oil prospect has been
matured for drilling. Permitting and land
acquisition commenced
1Refer to Cautionary Statement in slide 4; 2 Prospective Resources reporting update 3.3.2026; see slide 19; 3 Estimate includes oil and solution gas; 4 Refer ASX announcement 14 September 2026 – partner to earn 10% by funding 20%
Corporate Presentation I 17 September 2026
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ADX
Corporate Presentation | June 2026
HOCH-1 SHALLOW GAS WELL RESULTS
Eight gas sands encountered in HOCH-1 well
First zone tested at stable water free rate of 2.8 MMSCFPD (450 BOEPD)
Up to 5 Zones to be tested – three zones in phase 1 and three zones in phase 2
Flow testing and pressure build up of zones during July and August 2026 to determine
reserves potential of each zone and commerciality of well
13
Promising results for the first well in three well program
Testing of zone 1 in the HOCH-1 shallow gas well
Corporate Presentation I 17 September 2026
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Corporate Presentation | June 2026
NEAR FIELD OIL PROSPECT - PERGERN
14
Material resource potential, low drilling costs and rapid development cycle time
PERGEN is a material, prospective short development cycle, oil exploration
prospect adjacent to producing fields that is matured for drilling
Large Resource Base of 6.5 MMBBLS P(Mean) 1, 2, 3 with stacked pay and nearby
field analogues
Shallow, Low Cost Well approx. EUR 3.2 million
Rapid Commercialisation and robust economics due to infrastructure availability
Early Production possible from long term production testing
High value crude traded at Brent equivalent
Attractive farmout candidate due to size and low risk
1 Revised estimate @ 19 May 2026. Previous reporting date – 3 March 2026 2 Refer to Cautionary Statement; slide 4
3 Estimate includes oil and solution gas
Pergen Seismic Section Showing Well Path
Pergen Depth Map
Corporate Presentation I 17 September 2026
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Corporate Presentation | June 2026
WELCHAU-1 STATUS
15
Testing confirms hydrocarbons while the deeper gas objective remains untested
Welchau -1 drilling and testing has confirmed a strategically significant hydrocarbon discovery
Hydrocarbon shows, light oil sampled in Steinalm Formation and produced from Reifling Formation during testing
The geometry of the Welchau anticline has been updated integrating additional surface data resulting in a revised geological interpretation
A structural crest mapped approximately 500 metres updip from the top of the Steinalm reservoir intersected in Welchau-1
Deeper gas objective can be reached cost effectively by deepening Welchau-1 well
Welchau Anticline showing Molln Gas Fairway and
Welchau Updip Light Oil Potential in ADX AT-II
licence
Oil recovered at surface during Reifling
Fm testing
Light Oil Accumulation
1. 450 m of gas shows and light oil
sampled
2. Testing and sampling confirmed light
oil accumulation at well with 500m up
dip oil potential at crest of structure
3. 18 MMBBL P(mean)1,3 prospective
resources
Gas Condensate Target
1. Original target remains undrilled below 1733m
2. Two duplexes mapped below current well depth in pressure
communication with Molln-1 gas condensate discovery
3. Shallower duplex 600 to 700 m below
4. 387 BCF + 14 MMBBL 1,2 P(mean) Duplex 1 and 2 prospective
resources (Gas and Condensate)
Welchau Anticline is an
interconnected petroleum system -
Pressure and structural data
demonstrate pressure continuity
between Welchau-1 and downdip
Molln-1 discovery
1 Refer to Cautionary Statement; see slide 4
2 Prospective Resources reporting update 3.3.2026
3 Prospective Resources reporting update 4.2.2026
Corporate Presentation I 17 September 2026
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Corporate Presentation | June 2026
STRATEGIC IMPORTANCE OF OFFSHORE SICILY
The Sicily Channel is the best
near-term option for getting Med
gas into Europe
Direct pipeline route available to
European markets via the
TransMed or Greenstream
pipelines
Direct open access to Italian
pipeline system owned by SNAM
at Mazara del Vallo
Stable politics, shallow water and
clean biogenic gas (99% methane)
Excellent fiscal terms
Other than the Eastern Med the
most proven gas play
Big push from super majors in
deep water frontier areas -
Offshore Greece and Malta
16
The Mediterranean Sea has become the new gateway for gas into Europe
Corporate Presentation I 17 September 2026
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Corporate Presentation | June 2026
C.R 150.AU - SICILY CHANNEL PERMIT
17
High impact gas resource potential in an emerging gas province with running room
RecentADX Permit
August 2025
ENI Gas Project
August 2024
and new applications
An emerging and newly producing offshore gas
province
Shallow water (<100 m), drill depths (700-1600 m)
Gas shows in wells and good quality legacy 2D
seismic
Proximity to tie in point onshore at Mazara (less
than 50 km from permit)
Stacked pay and productive sands
Sweet biogenic gas (99% methane)
Favourable fiscal terms with 10% royalty and
28% corporate tax
Excellent gas pricing in Italy
619 BCF P(mean)
prospective resources1,2
from 9 high-graded prospects in the permit
using historic data and new field data
1 Refer to Cautionary Statement: see slide 4
2Prospective Resources reporting update 2.12.2025
Recent Progress
ENI dataroom to review the entire seismic database
(Q1 2026)
Seismic data purchase and prospect re-evaluation
Independent Review confirms play and ADX
resources estimates
Highly prospective permit for gas proven by
historic data from deeper oil exploration
Sicily Channel ADX’ C.R 150.AU Permit plus three additional applications
Applications process will take 3 months - approximately 1650 km2
Corporate Presentation I 17 September 2026
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LARGE-SCALE GAS FAIRWAY WITH EXPANSION POTENTIAL
18
Extensive technical dataset underpins resource growth and future acreage opportunities
A biogenic gas play fairway identified from extensive data and
past ADX experience
Map shows distribution of the Pliocene-Quaternary (yellow) and
Tortonian-Messinian siliciclastic (orange) foredeeps
The Lippone-Mazara gas field (ENI 100%) and strong gas
shows from the Terravecchia Fm. sandstone reservoirs in
historical wells confirm the NE-SW play fairway
Opportunity to apply for other exploration areas in water depth
of less than 100m
ADX has extensive knowledge of the play from exploration in
nearby Tunisian acreage including 3D seismic and drilling
OWC 1600 m TVDSS
View from South-East
80 meter oil column
110 meter oil column
Undrained Pool
15 mmbo (2C)
Partly Drained Pool (21 mmbo)
13 mmbo (2C) remaining
5 km
Nilde Oil Field – remaining oil potential
Nilde Oil Field Potential - historic oil field in C.R.150.AU licence
The Italian Ministry of Environment and Energy Security (MASE) with its
Hydrocarbon and Georesources department (UNMIG) published a note
regarding the Nilde oil fields potential as a CO2 storage project
In conjunction with a Carbon Capture Storage project, the remaining Nilde oil
could potentially be recovered
C.R 150.AU
ADX historic acreage in Tunisia
Nilde oil field
New Legislation allowing
oil development being
proposed by PM Meloni
Corporate Presentation I 17 September 2026
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Corporate Presentation | June 2026
RESOURCE TABLES
19
Low Best Mean High
P(90) P(50) P(Mean) P(10) ADX equity
(BCF) (BCF) (BCF) (BCF) interest
Upper Miocene 1 22 60 77 158 100%
Biogenic Gas 2 26 64 80 160 100%
3 46 111 136 267 100%
4 17 41 51 101 100%
5 25 60 74 146 100%
Sub-total 136 336 418 832
Upper Miocene 6 18 43 52 102 100%
Biogenic Gas 7 15 37 46 90 100%
9 19 68 103 241 100%
Sub-total 52 148 201 433
188 484 619 1265
2
Prospective Resources reporting date update 30.8.2022
3
Prospects / Leads included in previous reporting date 2
Additional Prospects / Leads not previously reported
TOTAL (BCF) Arithmetic Sum
1
Prospective Resource Estimates are unrisked recoverable. They have been estimated using probabilistic
methodology in accordance with SPE-PRMS (2018). All totals are aggregated arithmetically.
ADX Sicily Channel Prospective Resources Estimates 1
C.R 150.AU Permit
ASX Reporting Date: 2 December 2025
Play Type
Prospect/
Lead
3 Refer to Cautionary Statement; see slide 4
UPPER AUSTRIA PROSPECT INVENTORY including Welchau 3
(last reporting date 3 March 2026)
Sicily channel PROSPECT INVENTORY 3
(last reporting date 2 December 2025)
Low
P90
Best
P50
Mean
(Pmean)
High
P10
Low
P90
Best
P50
Mean
(Pmean)
High
P10
GOLD 4.1 7.5 8.3 13.4 - - - - 100 ADX-AT-II
ZAUN 1.5 2.7 3.0 4.8 - - - - 100 ADX-AT-II
GRAB 1.2 1.9 2.0 2.9 - - - - 100 ADX-AT-II
HOCH 1.5 5.2 8.0 17.3 - - - - 50 ADX-AT-I
SCHOE 1.9 5.4 6.3 12.1 - - - - 50 ADX
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