• 2P Reserves of 51.8 PJ (Petajoules)
• 3P Reserves of 118.5 PJ
• Comet Ridge continues to build a material Gas Reserve portfolio in the Mahalo Gas Hub area

Comet Ridge Limited (ASX:COI) is pleased to announce its initial independent Reserves certification for its 100% held Mahalo East Project (ATP 2061). This material increase in Comet Ridge's Gas Reserves further strengthens the Mahalo Gas Hub's capacity to transition to a new significant gas producing region on the east coast of Australia. Sproule ERCE, a global energy consulting and advisory firm, has provided the independent certification of Gas Reserves for the Mahalo East Project as at 30 June 2025, with 2P Reserves of 51.8 PJ and 3P Reserves of 118.5 PJ. The Reserves certification has been achieved through the conversion of previously certified Contingent Resources, supported by data from the Mahalo East 1 core well and subsequent production test. The Mahalo East Project is located in the Bowen Basin, in close proximity to the planned Mahalo JV Gas Project infrastructure, and the development plan assumes the project will be tied into this infrastructure. The commercial parameters supporting the Reserves assessment include domestic gas pricing benchmarked to ACCC LNG netback pricing, and the project is subject to an Australian market supply condition.

Comet Ridge's net 2P Reserves and 3P Reserves now total nearly 250 PJ and 530 PJ respectively in the Mahalo Gas Hub area.