ECSP development phase FID, Nestor sanction & Juliet update

• Final Investment Decision (FID) to proceed with ECSP development phase
• Sanction of the Nestor exploration well for potential production increase
• Completion of Juliet-1 well with favorable gas composition for blending

Amplitude Energy Limited has taken the Final Investment Decision (FID) to proceed with the East Coast Supply Project (ECSP) development phase, which includes subsea installations and modifications to the Athena Gas Plant during FY28. The ECSP development phase follows the drilling phase and is expected to increase the company's production to up to 90 TJ/day from 2028. The company has also sanctioned the drilling of the Nestor exploration well, which could further increase ECSP production if a commercial discovery is made. The Juliet-1 well has been successfully completed, with gas composition favorable for blending with other ECSP fields. The company expects to fund the development phase costs through existing cash reserves and cash flow.

FY27 and FY28 development costs: $190 - 210m net to Amplitude Energy

Amplitude Energy expects the ECSP development phase to increase production to up to 90 TJ/day from 2028, and the Nestor well to potentially increase production further. The company is optimistic about the demand for gas supply on the east coast.