• Company received second default notice for US$4.8 million payment
• Default notice relates to Otway Phase 1 Drilling Program in VIC/P79 permit
• Potential dilution or buy-out of 3D Energi's 20% participating interest

3D Energi Ltd ('3D Energi', 'TDO' or 'the Company') has received a second default notice from the joint venture operator for a US$4.8 million payment related to the Otway Phase 1 Drilling Program in the VIC/P79 exploration permit, where the Company has a 20% participating interest. The total amount of cash calls due on 6th February was approximately US$7.7 million, which was not paid, leading to the issuance of the second default notice with a remedy period to 8 March 2026. The Joint Operating Agreement for the Joint Venture contains industry standard mechanisms to address default payment matters, including notice, cure and cost reconciliation processes and potential dilution or buy-out of a party's participating interest. If the first default notice has been validly issued, ConocoPhillips SH2 Pty Ltd and Korea National Oil Corporation would now be entitled to exercise their default remedies under the Joint Operating Agreement, which could include dilution or buy-out of the Company's 20% participating interest. The company advises that the implications of the payment defaults and the level of its ongoing interest in the permit remain unresolved, and the basis for the suspension of trading in the Company's shares remains. It is likely that the trading suspension of the Company's shares will continue as determined by ASX.