Quarterly Activities/Appendix 5B Cash Flow Report

• Cash balance of US$21.0 million with zero debt
• Net operating cash inflow of US$1.6 million for the quarter
• Benefited from rapid increase in crude oil prices

Otto Energy Limited (ASX: OEL) released its quarterly activities report for the period ended 31 March 2026. The company reported a cash balance of US$21.0 million with zero debt at the end of the quarter. Net operating cash inflow for the quarter was US$1.6 million, with receipts from customers being US$0.2 million higher than the prior quarter. Otto benefited from the rapid increase in crude oil prices beginning in March 2026, which is expected to result in significantly higher revenues in the June 2026 quarter. Oil production was lower than the previous quarter, largely due to downtime at the SM 71 platform, which experienced intermittent electrical issues with the compressor. Gas production also declined, but realized pricing surged 32%. The company had no hedged positions for the quarter. Overall, Otto's portfolio of producing assets continued to perform well, and the company remains committed to returning excess cash to shareholders while preserving liquidity to fund operations and asset retirement obligations.