• Equus Energy completed Pre-FEED for the Equus Gas Project, confirming a feasible development concept.
• Two development pathways via existing infrastructure were confirmed, reducing capital expenditure.
• The company received the final Phase 1 payment from Alcoa, totaling $1.5 million.
• New board appointments were made to support the project's advancement.
• Cash position at the end of the quarter was $13.4 million.

Equus Energy Limited has reported significant progress in its Equus Gas Project for the quarter ended 30 June 2026. The company successfully completed the Pre-Front End Engineering Design (Pre-FEED) for the project, validating a technically feasible and capital-efficient development concept. The Pre-FEED program confirmed two development pathways via existing North West Shelf infrastructure, reducing capital expenditure and execution risk. Equus also received the final Phase 1 payment of $353,254 from Alcoa, bringing the total funding received during Phase 1 to $1.5 million. The company has commenced partnering and commercialization activities, engaging with potential upstream partners, LNG customers, infrastructure providers, and financing groups. The market environment continues to favor strategic investment in gas assets, with notable transactions like Woodside's acquisition of PetroChina's interest in the Browse Joint Venture. Equus also made significant board changes, appointing Grant Davey as Non-Executive Chairman and Michael Barnes as an Independent Non-Executive Director.

Equus Energy expects to continue advancing its Equus Gas Project towards FEED and FID.

Equus Energy is optimistic about the future of the Equus Gas Project, with a clear pathway towards FEED and FID, supported by strategic investments and favorable market conditions.