Cue Energy Resources Limited Directors' report 30 June 2026 15 Matters subsequent to the end of the financial year Following Horizon’s completion of acquisition of 57.03% interest in Cue, the Consolidated Entity will be liable to pay transfer tax on its interests in the Indonesian PSCs in relation to the indirect change of control, in accordance with local Indonesian regulations. Other than as noted elsewhere in the Directors’ Report, no other matters or circumstances have arisen since 30 June 2026 that has significantly affected, or may significantly affect the Consolidated Entity's operations, the results of those operations, or the Consolidated Entity's state of affairs in future financial years. Likely developments and expected results of operations The following activities may affect the expected results of operations: ● Drilling underway at Palm Valley and Mahato, with five wells planned for 1H FY2027 ● Continuing volatility in global energy markets; and ● Actively seeking to acquire new production opportunities Safety and Environmental regulation Within the last year there was one Lost Time Injury (LTI) and no significant spills reported in the Consolidated Entity’s joint operations. Incidents at joint operations are reported and investigated by all the relevant parties and the Consolidated Entity monitors the progress of reported incidents and works with operators and joint operations partners to improve overall health and safety and minimise any impact on the environment. Information on directors Name: Alastair McGregor (resigned 2 July 2026) Title: Non-Executive Chair Qualifications: BEng, MSc Experience and expertise: Mr McGregor has been actively involved in the oil and gas sector since 2003. He is currently Chief Executive of O.G. Oil & Gas Limited, a company that holds directly or indirectly oil & gas exploration and production interests onshore and offshore. He leads the O.G. Energy Senior Management Committee, driving the strategy for Ofer Global’s energy activities. Mr McGregor is also a director of Echelon Resources Ltd (Echelon). In addition, Mr McGregor is Chief Executive of Omni Offshore Terminals Limited, a leading provider of floating, production, storage and offloading (FSO and FPSO) solutions to the offshore oil and gas industry. Omni’s operations have spanned the globe from New Zealand, Australia, South East Asia, Middle East and South America. Prior to entering the oil and gas industry Mr McGregor spent 12 years as a banker with Citigroup and Salomon Smith Barney. Mr McGregor holds a BEng(Hons) and an MSc in Aeronautical Engineering. Mr McGregor was a Member of the Remuneration and Nomination Committee up until his resignation on 2 July 2026. Other current directorships: Echelon Resources Ltd (ASX: ECH) Former directorships (last 3 years): None Special responsibilities: None Interests in shares: None Interests in options: None 28 Cue Energy Resources Limited Annual Report 2026
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