• Empire Energy Group Ltd announces opening of $3 million Share Purchase Plan (SPP) Offer
• SPP Offer follows successful $27.75 million placement to institutional and sophisticated investors
• Eligible shareholders can subscribe for up to $30,000 worth of new shares at $0.16 per share

Empire Energy Group Limited (Empire) is pleased to announce the opening today, 23 May 2025, of the Empire Share Purchase Plan Offer (SPP Offer) to raise up to $3 million. The launch of the SPP Offer follows the successful completion of a $27.75 million placement to institutional and sophisticated investors at an issue price of $0.16 per share (Institutional Placement). Shareholders on Empire's register with a registered address in Australia and New Zealand as at 7.00pm (Sydney time) on Thursday, 15 May 2025 will be eligible to participate in the SPP Offer. Eligible Shareholders have the opportunity to subscribe for up to $30,000 worth of new, fully paid, ordinary shares in Empire at an issue price of $0.16 per share, without incurring any brokerage costs or other transactions costs. Subject to shareholder approval, participants under the Institutional Placement and SPP Offer will be issued one attaching unlisted option for every two new shares subscribed for, exercisable at $0.24 and expiring two years from the date of allotment. The funds raised under the Placement and the SPP, along with existing cash and undrawn funding, will finance the fracture stimulation and flow testing of Carpentaria-5H in the Beetaloo Basin, installation of the Carpentaria gas plant and in-field infrastructure, working capital and costs of the Placement and the SPP.

The Company expects to raise up to $3 million under the SPP Offer. The funds raised, along with existing cash and undrawn funding, will be used to finance the fracture stimulation and flow testing of Carpentaria-5H in the Beetaloo Basin, installation of the Carpentaria gas plant and in-field infrastructure, working capital and costs of the Placement and the SPP.