Offer Booklet

• One (1) New Share for every 3.89 Shares held at Record Date
• Issue Price of $0.002 (0.2 of a cent) per New Share
• Offer to raise up to approximately $0.75 million (before costs)
• Offer partially underwritten up to $411,000

Metgasco Ltd is offering a non-renounceable pro-rata entitlement offer to eligible shareholders on the basis of one (1) New Share for every 3.89 Shares held at the Record Date of 7.00pm AEST on 14 May 2025. The Issue Price is $0.002 (0.2 of a cent) per New Share, with the Offer aiming to raise up to approximately $0.75 million (before costs). The Offer is partially underwritten up to an amount of $411,000 by PAC Partners Securities Pty Ltd. Eligible shareholders may also apply for Additional Shares beyond their Entitlement under a 'Top-Up Facility', subject to the discretion of the Board. If there remains any Shortfall after allocation of Entitlements and Additional Shares, the Underwriter will subscribe or procure subscriptions for the Shortfall, to the extent of its underwriting obligations. The Directors also reserve the right for up to 3 months after the close of the Offer to place any remaining Shortfall at the Board's discretion but at a price no less than the Issue Price. Funds raised will be used primarily to fund the Vali and Odin production uplift program and for general working capital requirements.

The Offer aims to raise up to approximately $0.75 million (before costs) through the issue of up to 375,000,000 New Shares at $0.002 (0.2 of a cent) per New Share.