• Mahalo Gas Project upstream FEED progresses
• Mahalo Gas Hub pipeline connection FEED completed
• Amended dates for CleanCo GSA conditions
• Remaining Tranche 2 PURE warrants expired
• $2.63 million cash at quarter end

Comet Ridge Ltd released its March 2026 quarterly activities report, highlighting key developments across its Mahalo Gas Project and other corporate activities. The Mahalo Gas Project upstream FEED progressed, with Santos completing input into the Front End Engineering Design for the gas field, gathering system, gas compression and water handling facilities. The Mahalo Gas Hub pipeline connection FEED was also completed by Jemena, who received a Queensland Government Environmental Approval and is awaiting formal pipeline licence approval. Comet Ridge and CleanCo Queensland Limited mutually extended the dates for the remaining conditions of their Gas Sales Agreement, relating to Comet Ridge securing finance and gas transportation/processing agreements. The remaining 22,727,273 warrant shares under Tranche 2 of Comet Ridge's secured loan with PURE Asset Management Pty Ltd expired on 31 March 2026. The company had $2.63 million in cash at the end of the quarter and continued engagement on project and corporate level transactions while progressing GSA and funding arrangements.

Comet Ridge has not provided any high-importance, price-sensitive forward-looking financial metrics or other company-specific metrics in this announcement.

Comet Ridge did not provide any forward-looking outlook statements in this announcement.