• Multi-year Gas Supply Agreement signed with the Northern Territory Government
• Up to 3.2 PJ (Cue Share) contracted through to the end of 2034 under take-or-pay provisions with a fixed price indexed to inflation
• Final Investment Decision taken to drill two wells in the Palm Valley field to support the GSA

Cue Energy Resources Limited (ASX: CUE) has executed a binding multi-year Gas Sales Agreement ('GSA') with the Northern Territory Government ('NTG'). To support the GSA, the Palm Valley Joint Venture will drill two new wells to supply up to 21 PJ of gas (3.2 PJ Cue share) on a firm basis from the second half of 2026 through to the end of 2034. The gas is contracted at a fixed price with CPI escalation and take-or-pay provisions. Following the execution of the GSA, the Palm Valley Joint Venture has taken a Final Investment Decision to drill the two new wells in the Palm Valley field. Preparations are well advanced, with key approvals in place or underway, long lead items ordered, a drilling rig contracted, and civil works substantially complete. Drilling for the first well is scheduled to commence mid-year, with production from the new wells expected to be brought online progressively over the second half of 2026. This GSA replaces the previously proposed gas supply arrangements outlined in the Letter of Intent announced in December 2025 with the Northern Territory's Power and Water Corporation, as no agreement was reached on volume and pricing for those tranches of gas.

The GSA provides for up to 3.2 PJ of gas to be supplied on a firm basis from the second half of 2026 through to the end of 2034, with a fixed price indexed to inflation and take-or-pay provisions.

The new Gas Sales Agreement and the drilling of two new wells in the Palm Valley field position Cue to deliver additional gas supply into the Northern Territory market while supporting near-term cashflow growth.