Earnings release
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• • • • • • 1 Assumes the Share Purchase Plan contemporaneously announced by Strike is fully subscribed for the full $10 million and Carnarvon elects to subscribe for the number of shares required to attain a 19.99% shareholding in Strike after completion of the Share Purchase Plan For personal use only
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• • 2 Sales gas production includes gas invoiced in a prior period and taken as ‘banked gas’ pursuant to the ‘Take or Pay’ contract with Santos WA Ltd. 3 Prices sourced from Gas Trading Australia Pty Ltd: https://www.gastrading.com.au/spot -market/historical-prices-and-volume/price-history-table. For personal use only
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• • • • • o o o • Note to map: Notice of withdrawal for permits L7 & EP437 given to Operator during the quarter For personal use only
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• • • • • • • • • 4 Refer to “Strategic Placement to Fund Strike’s Next Phase of Growth” released to ASX on 2 2 July 2025 for further details regarding the revised capital expenditure forecast for South Erregulla and funding options being investigated for the Western Power scope of work. For personal use only
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• • • • • • • 5 Sales gas revenue includes gas banked not taken or produced pursuant to the ‘Take or Pay’ contract with Santos WA Ltd. For personal use only
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Rule 5.5 ASX Listing Rules Appendix 5B (17/07/20) Page 1 + See chapter 19 of the ASX Listing Rules for defined terms. Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report Name of entity STRIKE ENERGY LIMITED ABN Quarter ended (“current quarter”) 59 078 012 745 30 June 2025 Consolidated statement of cash flows Current quarter $A’000 Year to date (12 months) $A’000 1. Cash flows from operating activities 18,789 74,271 1.1 Receipts from customers 1.2 Payments for - - (a) exploration & evaluation (b) development - - (c) production (3,823) (16,458) (d) staff costs (628) (6,013) (e) administration and corporate costs (2,193) (9,170) 1.3 Dividends received (see note 3) - - 1.4 Interest received 153 958 1.5 Interest and other costs of finance paid (783) (4,370) 1.6 Income taxes paid - - 1.7 Government grants and tax incentives - - 1.8 Other (cost recoveries from JVs) 409 1,648 1.9 Net cash from / (used in) operating activities 11,924 40,866 2. Cash flows from investing activities - - 2.1 Payments to acquire or for: (a) entities (b) tenements - - (c) property, plant and equipment (142) (156) (d) exploration & evaluation (2,214) (23,165) (e) investments - - (f) oil & gas assets (16,432) (61,713) For personal use only
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Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report ASX Listing Rules Appendix 5B (17/07/20) Page 2 + See chapter 19 of the ASX Listing Rules for defined terms. Consolidated statement of cash flows Current quarter $A’000 Year to date (12 months) $A’000 2.2 Proceeds from the disposal of: - - (a) entities (b) tenements - - (c) property, plant and equipment - - (d) investments - - (e) other non-current assets - - 2.3 Cash flows from loans to other entities - - 2.4 Dividends received (see note 3) - - 2.5 Other (Security deposit) 202 (4,834) 2.6 Net cash from / (used in) investing activities (18,586) (89,868) 3. Cash flows from financing activities - - 3.1 Proceeds from issues of equity securities (excluding convertible debt securities) 3.2 Proceeds from issue of convertible debt securities - - 3.3 Proceeds from exercise of options - - 3.4 Transaction costs related to issues of equity securities or convertible debt securities - - 3.5 Proceeds from borrowings 73,911 100,661 3.6 Repayment of borrowings (43,000) (43,017) 3.7 Transaction costs related to loans and borrowings (4,372) (4,785) 3.8 Dividends paid - - 3.9 Other (security deposit) - - 3.10 Net cash from / (used in) financing activities 26,539 52,859 4. Net increase / (decrease) in cash and cash equivalents for the period 4.1 Cash and cash equivalents at beginning of period 22,297 38,751 4.2 Net cash from / (used in) operating activities (item 1.9 above) 11,924 40,866 4.3 Net cash from / (used in) investing activities (item 2.6 above) (18,586) (89,868) 4.4 Net cash from / (used in) financing activities (item 3.10 above) 26,539 52,859 For personal use only
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Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report ASX Listing Rules Appendix 5B (17/07/20) Page 3 + See chapter 19 of the ASX Listing Rules for defined terms. Consolidated statement of cash flows Current quarter $A’000 Year to date (12 months) $A’000 4.5 Effect of movement in exchange rates on cash held (1,079) (1,514) 4.6 Cash and cash equivalents at end of period 41,095 41,095 5. Reconciliation of cash and cash equivalents at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts Current quarter $A’000 Previous quarter $A’000 5.1 Bank balances 38,051 21,582 5.2 Call deposits - - 5.3 Bank overdrafts - - 5.4 Other (share of JV bank accounts and bank deposits) 3,044 715 5.5 Cash and cash equivalents at end of quarter (should equal item 4.6 above) 41,095 22,297 6. Payments to related parties of the entity and their associates Current quarter $A'000 6.1 Aggregate amount of payments to related parties and their associates included in item 1 230 6.2 Aggregate amount of payments to related parties and their associates included in item 2 - Note: if any amounts are shown in items 6.1 or 6.2, your quarterly activity report must include a description of, and an explanation for, such payments. For personal use only
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Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report ASX Listing Rules Appendix 5B (17/07/20) Page 4 + See chapter 19 of the ASX Listing Rules for defined terms. 7. Financing facilities Note: the term “facility’ includes all forms of financing arrangements available to the entity. Add notes as necessary for an understanding of the sources of finance available to the entity. Total facility amount at quarter end $A’000 Amount drawn at quarter end $A’000 7.1 Loan facilities 115,000 79,911 7.2 Credit standby arrangements - - 7.3 Other (please specify) - - 7.4 Total financing facilities 115,000 79,911 7.5 Unused financing facilities available at quarter end 35,089 7.6 Include in the box below a description of each facility above, including the lender, interest rate, maturity date and whether it is secured or unsecured. If any additional financing facilities have been entered into or are proposed to be entered into after quarter end, include a note providing details of those facilities as well. Macquarie Bank Limited: Tranche A1 - $60 million secured facility with interest rate of 6% margin + BBSW and maturing 31 December 2026. Asset Finance Facility - $49 million committed asset finance facility with $13.9 million drawn to date at 30 June 2025 with interest rate at 7.6% + BBSY (escrow period) or 6.0% + BBSY (lease period). The expected lease commencement date is October 2026 with expiry date 60 months from lease commencement date. Rabobank facility – secured facility - $6 million Interest rate – 3.25% plus BBSW Maturity date – 31 August 2027 8. Estimated cash available for future operating activities $A’000 8.1 Net cash from / (used in) operating activities (item 1.9) 11,924 8.2 (Payments for exploration & evaluation classified as investing activities) (item 2.1(d)) (2,214) 8.3 Total relevant outgoings (item 8.1 + item 8.2) 9,710 8.4 Cash and cash equivalents at quarter end (item 4.6) 41,095 8.5 Unused finance facilities available at quarter end (item 7.5) 35,089 8.6 Total available funding (item 8.4 + item 8.5) 76,184 8.7 Estimated quarters of funding available (item 8.6 divided by item 8.3) N/A Note: if the entity has reported positive relevant outgoings (ie a net cash inflow) in item 8.3, answer item 8.7 as “N/A”. Otherwise, a figure for the estimated quarters of funding available must be included in item 8.7. 8.8 If item 8.7 is less than 2 quarters, please provide answers to the following questions: 8.8.1 Does the entity expect that it will continue to have the current level of net operating cash flows for the time being and, if not, why not? 8.8.2 Has the entity taken any steps, or does it propose to take any steps, to raise further cash to fund its operations and, if so, what are those steps and how likely does it believe that they will be successful? For personal use only
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Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report ASX Listing Rules Appendix 5B (17/07/20) Page 5 + See chapter 19 of the ASX Listing Rules for defined terms. 8.8.3 Does the entity expect to be able to continue its operations and to meet its business objectives and, if so, on what basis? Note: where item 8.7 is less than 2 quarters, all of questions 8.8.1, 8.8.2 and 8.8.3 above must be answered. Compliance statement 1 This statement has been prepared in accordance with accounting standards and policies which comply with Listing Rule 19.11A. 2 This statement gives a true and fair view of the matters disclosed. Date: ...30 July 2025........................................................... Authorised by: ...Tim Cooper (CFO & Company Secretary)....................................................................... (Name of body or officer authorising release – see note 4) Notes 1. This quarterly cash flow report and the accompanying activity report provide a basis for informing the market about the entity’s activities for the past quarter , how they have been financed and the effect this has had on its cash position. An entity that wishes to disclose additional information over and above the minimum required under the Listing Rules is encouraged to do so. 2. If this quarterly cash flow report has been prepared in accordance with Australian Accounting Standards, t he definitions in, and provisions of, AASB 6: Exploration for and Evaluation of Mineral Resources and AASB 107: Statement of Cash Flows apply to this report. If this quarterly cash flow report has been prepared in accordance with other accounting standards agreed by ASX pursuant to Listing Rule 19.11A, the corresponding equivalent standards apply to this report . 3. Dividends received may be classified either as cash flows from operating activities or cash flows from investing activities, depending on the accounting policy of the entity . 4. If this report has been authorised for release to the market by your board of directors, you can insert here: “By the board”. If it has been authorised for release to the market by a committee of your board of directors, you can insert here: “By the [name of board committee – eg Audit and Risk Committee ]”. If it has been authorised for release to the market by a disclosure committee, you can insert here: “By the Disclosure Committee”. 5. If this report has been authorised for release to the market by your board of directors and you wish to hold yourself out as complying with recommendation 4.2 of the ASX Corporate Governance Council’s Corporate Governance Principles and Recommendations, the board should have received a declaration from its CEO and CFO that, in their opinion, the financial records of the entity have been properly maintained , that this report complies with the appropriate accounting standards and gives a true and fair view of the cash flows of the entity , and that the ir opinion has been formed on the basis of a sound system of risk management and internal control which is operating effectively . For personal use only