• Advancing Beetaloo Basin projects through farm-out discussions
• Expanding partnership discussions for Serpentine Natural Hydrogen Project
• Exploring strategic opportunities in U.S. AI data centers

Top End Energy's quarterly update covers several key developments across its portfolio. In the Beetaloo Basin, the company's Environmental Management Plan for its 2026 work program is progressing through the approval process, providing regulatory certainty as it advances its plans. The company has also commenced farm-out discussions for its Beetaloo Basin and South Nicholson Basin permits, targeting potential industry partners to support the next phase of exploration and appraisal activity. The Beetaloo Basin has seen increased activity and validation, with the entry of a leading global LNG producer INPEX and ongoing development work by other major operators. For the Serpentine Natural Hydrogen Project in Kansas, the company continues to engage with U.S. operators, explorers and venture capital participants, with growing interest driven by volatility in global energy markets and supportive U.S. legislation. Additionally, the company has expanded its U.S. platform into the AI data center sector, applying its land and energy expertise to identify suitable sites and development opportunities.

The company has not provided any high-importance, price-sensitive forward-looking financial metrics in the announcement.

The company has not provided any specific forward-looking outlook statements in the announcement.