• Firm commitments received to raise $5.8 million in a placement
• Funds to be used to advance the Wombat Project and target near-term cash flow opportunities
• Drilling at Wombat-5 continues to demonstrate excellent gas shows

Lakes Blue Energy NL (ASX: LKO) has announced that it has received firm commitments to raise $5,800,000 (before costs) through a two-tranche placement. The company will issue approximately 5.04 million fully paid ordinary shares at $1.15 per share, with the second tranche being subject to shareholder approval. The placement received strong demand and will see the company well-funded to further advance the Wombat Project to target near-term cash flow opportunities. The placement includes participation from an entity associated with the company's non-executive director, Mr. Nick Mather, who has subscribed for $500,000 worth of shares. The issue of shares will be subject to shareholder approval at the upcoming Annual General Meeting. The Tranche 1 shares (4,608,696 shares) will be issued using the company's current placement capacity under ASX Listing Rule 7.1. Funds raised from the issue will be used to further advance the Wombat Project and for working capital. Drilling of the Wombat-5 well commenced on 1 August 2025, targeting the Strzelecki Formation at approximately 1,450 mRT. The company has announced significant gas shows of up to 2,910 units or 581,000 ppm (C1 94.2%, C2 4.0%, C3 1.3%, C4 0.4%, C5 0.1%), in good quality sands.