Quarterly Activities Report and Appendix 5B 30 Sept 2025

• Continuous oil production from Alameda-2 in Cuba, crude inventory over 33,000 barrels
• Amistad-2 well spud in Cuba, targeting shallow Unit 1B reservoir
• Variation of minimum work requirements approved for WA-544-P and NT/P87 permits in Australia

Melbana Energy Limited (ASX: MAY) provided a summary of its activities during the quarter ended 30 September 2025. In Cuba, the company continued oil production from the Alameda-2 well, with a total of 10,723 barrels of crude produced and delivered to storage during the period. The closing crude inventory stood at 33,586 barrels. The Amistad-2 well was spud on 18 September 2025, targeting the shallow Unit 1B reservoir. The well was drilling ahead towards the expected oil reservoirs at the end of the quarter. Preparations for the contingent drilling of Amistad-3 were also advanced, with civil construction of the well pad, rig-camp location, and access roads completed. In Australia, the National Offshore Petroleum Titles Administrator approved a variation of the minimum work requirements for Permit Year 4 of Melbana's WA-544-P and NT/P87 permits. The changes removed the requirement to acquire 3D seismic surveys and instead allowed the company to undertake geological and geophysical studies and well planning. Melbana identified the attractive Hudson prospect in these permits and is currently running a process to identify parties interested in funding an exploration well to further derisk the prospect. The company had total cash on hand of $13.4 million as of 30 September 2025.