FY24 results & FY25 outlook presentation

• Delivered on FY24 business priorities with numerous production records, cost-out program, and safe decommissioning of BMG wells
• Stable performance at Athena and Cooper Basin, targeting group production run-rate of >70 TJe/d by end-FY25
• Progressing the East Coast Supply Project, potentially the largest source of new domestic gas supply in Southeast Australia

Cooper Energy Ltd has reported its FY24 results and FY25 outlook, highlighting strong operational and financial performance. The company delivered on its key FY24 business priorities, including numerous production records at the Orbost Gas Processing Plant, a successful cost-out program that realized $10.5 million in annualized net savings, and the safe decommissioning of the BMG wells. Cooper Energy's health, safety, environment, and community performance was also ahead of industry benchmarks, with no reportable or notifiable environmental incidents during the period. The company's assets, including the Athena Gas Plant and Cooper Basin, maintained stable production, and Cooper Energy is targeting a group production run-rate of over 70 TJe/d by the end of FY25. Looking ahead, the company is progressing the East Coast Supply Project, which has the potential to be the largest source of new domestic gas supply in the Southeast Australian market, with first gas targeted for 2028. Overall, Cooper Energy has demonstrated strong operational and financial execution, positioning the company for continued growth and value creation.

Cooper Energy expects to maintain its cost discipline and increase the net savings realized from its transformation program by the end of FY25. The company is targeting a group production run-rate of over 70 TJe/d by the end of FY25.

Cooper Energy is progressing the East Coast Supply Project, which has the potential to be the largest source of new domestic gas supply in the Southeast Australian market, with first gas targeted for 2028. The company is also continuing to pursue Pertamina for their 10% share of the BMG decommissioning costs and is progressing plans for the second phase of the BMG decommissioning activity.