• Maiden Prospective Hydrogen Resource of 629 BCF (3U) across 31,000 acres
• Strong resource density supports technical viability and exploration drilling
• Additional upside potential in shallow intervals with 96% H2 at depths <1,000 ft

Top End Energy (ASX: TEE) has reported an independent prospective resource assessment for its 100% owned and operated Serpentine Natural Hydrogen Project in Kansas, USA. The assessment was completed by Teof Rodrigues & Associates. Highlights include a maiden Prospective Hydrogen Resource with a mean net recoverable resource of 304 BCF and low to high estimates of 71 BCF (1U), 234 BCF (2U) and 629 BCF (3U) respectively. The recoverable volumes are based on the Company's lease holding of approximately 31,000 acres, indicating a strong resource density that underpins the technical viability of the Project and supports the case to advance exploration drilling. There is also additional resource upside potential in shallow intervals, where recent peer drilling recorded 96% H2 at depths of less than 1,000 ft. Ongoing modelling, subsurface interpretation and exploration activities, including drilling and geophysics, are expected to improve the risk profile, narrow resource ranges and incorporate additional volumes from shallow reservoirs. Top End Energy has now commenced its farm-out process and is in discussions with potential development partners.

The independent assessment highlights a mean net recoverable resource of 304 BCF (716,000 tonnes of H2) across the Company's 31,000-acre lease holding.

Top End Energy is progressing geological modelling and well planning for an exploration program targeted to test key elements of the hydrogen play and reduce subsurface risk. Execution of this program remains subject to securing a suitable development partner in the second half of 2025.