• Vintage to acquire Metgasco's 25% stakes in ATP 2021 and PRL 211 joint ventures
• Commitment to consider offer to acquire Bridgeport's 25% stakes in the same joint ventures
• Opportunity to reform joint ventures and accelerate value creation

Vintage Energy Ltd (ASX:VEN) has announced it has taken the opportunity to reform its Southern Flank joint ventures ATP 2021 and PRL 211 by signing a conditional Heads of Agreement to acquire the 25% stakes held by fellow joint venturer Metgasco (ASX:MEL) in both joint ventures. Vintage currently holds a 50% interest and is the Operator of the joint ventures. Vintage has also committed to consider an irrevocable offer to acquire the 25% stakes in both joint ventures held by Bridgeport (Cooper Basin) Pty Ltd. The initiative to acquire the Metgasco stake is the first step towards an ownership structure with appropriate capitalization and composition to accelerate value creation from the two permits, which contain the Vali and Odin gas fields. The joint ventures collectively hold gross 2P gas reserves of 141 PJ, with over 80% of the reserves uncontracted and available for development. Vintage is considering funding options, including the introduction of new joint venture partners and an equity capital initiative. The binding Heads of Agreement with Metgasco is conditional on Vintage securing funding commitments and completing the purchase of Bridgeport's 25% interest by 31 March 2026. Vintage will keep shareholders informed on decisions regarding funding options.

Vintage's Southern Flank joint ventures ATP 2021 and PRL 211 collectively hold gross 2P gas reserves of 141 PJ as at 30 June 2025, with over 80% of the reserves uncontracted and available for development.