• Secured credit-approved underwriting commitments of up to $280 million for Waroona Project
• Completed $110 million equity capital raising
• Stage One awarded guaranteed minimum revenue protection until 2042
• Western Australia energy prices rose 31% in Q2 2026
• Sold Pick Lake Project for $2.25 million

Frontier Energy Limited (ASX: FHE) reported key developments for its Waroona Renewable Energy Project in Western Australia for the quarter ended 30 June 2026. The company secured credit-approved underwriting commitments of up to $280 million from Natixis and SMBC for the project's Stage One, which includes a 132MW solar facility and an 81.5MW battery energy storage system. Frontier also completed a $110 million equity capital raising and signed an EPC contract with Monford. Stage One was successful in its application for the Australian Government's Capacity Investment Scheme, providing guaranteed minimum revenue protection until 2042. Energy prices in Western Australia increased by 31% during the quarter, with peak period prices averaging $130/MWh, the period when most of Stage One's electricity will be sold. Additionally, Frontier sold its non-core Pick Lake Project for $2.25 million.