Quarterly Activities Report - 31 March

• $66.3 million equity placement to existing and new institutional and sophisticated investors
• $15.4 million R&D tax incentive refund received
• Macquarie Bank Midstream Infrastructure Facility upsized to $45 million

Beetaloo Energy Australia Limited has reported a successful quarter, with key highlights including a $66.3 million equity placement to existing and new institutional and sophisticated investors, a $15.4 million R&D tax incentive refund, and an upsizing of the Macquarie Bank Midstream Infrastructure Facility to $45 million to fully fund the Carpentaria Gas Plant construction. The company also completed civil and piling works at the Carpentaria site, with plant refurbishment for transportation to the site completed post quarter-end. Flow testing of the Carpentaria-5H well is set to recommence during Q2 2026. Beetaloo Energy continues to progress its Northern Territory operations, with planning underway for a 2D seismic campaign in the Western Beetaloo permits. The company also entered into a binding term sheet to fund the development of the Territory Sands' Forest Hill South frac sand project, which is expected to support the company's hydraulic fracturing activities in the Beetaloo Basin.