Australia MEREENIE, PALM VALLEY AND DINGO FIELDS CUE INTERESTS Mereenie [OL4 & OL5] 7.5% Palm Valley [OL3] 15% Dingo [L7] 15% Operator Central Petroleum Limited The Company’s onshore Australian assets continued to provide reliable production to the Northern Territory throughout FY2026, with production of 216 Mboe. Commercial activities continued during the year with the Mereenie JV announcing a Gas Supply Agreement (GSA) with McArthur River Mining Pty Ltd (MRM) for 2026 and 2027 and the Palm Valley JV announcing a long-term GSA with the Northern Territory Government (NTG GSA). The NTG GSA is for firm gas supply of up to 3.2 PJ (Cue Share) from 1H FY2027 through to the end of 2034, with a fixed price with CPI escalation and take-or-pay provisions. The GSA was supported by the JV agreement to drill two new Palm Valley wells. In July 2026, drilling commenced on PV14, the first of two new wells in the Palm Valley field. The overall program is anticipated to take approximately four and a half months to complete with first gas sales from PV14 targeted for October 2026. The appraisal program is designed to evaluate and develop additional gas resources within the Palm Valley field and support ongoing gas supply to the Northern Territory market. If successful, production from the new wells will support gas deliveries under the recently executed long-term Gas Sales Agreement with the Northern Territory Government, strengthening the long-term revenue profile of Cue’s Australian gas business. Oil sales from Mereenie were constrained by revised oil specification requirements which have led to reduced offtake. Oil sales have been temporarily suspended since mid-June and the JV continues to seek alternative commercial arrangements for the sale of Mereenie’s produced oil. Indonesia MAHATO PSC CUE INTERESTS Cue 11.25% Operator Texcal Energy Mahato Inc Financial and Operations Review continued The Mahato PSC continued to generate strong cashflow while development activities continued across the field. Oil production from the PB field for the year was 198 Mboe, 5% higher than FY2025. Five new oil development wells were drilled and brought into production over the year as part of the previously approved OPL2 development program and other approved infill wells. A total of 40 wells had been drilled in the field by the year end. Post year end, the PB-41 and PB-42 wells have been completed. During 3Q FY2026, production from the PB field was shut in as part of regional precautionary measures required by Indonesian authorities following a pipeline leak and fire on a major gas pipeline in Central Sumatra. Field production was fully restored by the end of the same quarter. The next stage in the development of the PB field is the Phase 3 development plan (OPL 3), targeting additional production from both the existing Bekasap reservoir and the new Telisa reservoir. Government approval is expected during 1H FY2027 , with operations anticipated to commence shortly thereafter. High impact exploration in the PSC will continue during FY2027, with the GA-1 exploration well moving to final planning and approval stages, and expected to be drilled in 2Q FY2027. 7 Cue Energy Resources Limited Annual Report 2026
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