Announcement PDF Buru Energy Limited, Level 2, 16 Ord Street, West Perth WA 6005 Telephone: 1800 337 330 Email: info@buruenergy.com ABN: 71 130 651 437 ASX Announcement ASX Announcement 22 April 2026 Investor Webinar Presentation Buru Energy Limited (Buru, Company) (ASX: BRU) is pleased to provide its Investor Webinar Presentation. The presentation will be made by the Buru Energy CEO, Thomas Nador and Non-Executive Chair, David Maxwell, on Wednesday 22 April at 11am AWST / 1pm AEST. Authorisation This ASX announcement has been authorised for release by the Chair of the Board of Directors. For further information, please contact: Thomas Z Nador Chief Executive Officer Telephone: +61 8 9215 1800 Freecall: 1800 337 330 Email: info@buruenergy.com Rafael Gas Project Fuelling the Future: ASX:BRU Example of a small-scale LNG facility at Mount Magnet, Western Australia. Photo courtesy of Clean Energy Fuels Australia (CEFA) Compelling Project Economics + Energy Security for Northwest of Western Australia Webinar Presentation 22 April 2026 Disclaimer This document has been prepared by Buru Energy Limited ABN 71 130 651 437 (“Buru”) and has been authorised for the intended purpose by the Non-Executive Chair of Buru Energy Limited. This presentation contains certain statements which may constitute "forward-looking statements". It is believed that the expectations reflected in these statements are reasonable but they may be affected by a variety of variables and changes in underlying assumptions which could cause actual results or trends to differ materially, including, but not limited to: price fluctuations, actual demand, currency fluctuations, drilling and production results, reserve and resource estimates, loss of market, industry competition, environmental risks, physical risks, legislative, fiscal and regulatory developments, economic and financial market conditions in various countries and regions, political risks, project delays or advancements, approvals and cost estimates. All of Buru’s operations and activities are subject to joint venture, regulatory and other approvals and their timing and order may also be affected by weather, availability of equipment and materials and land access arrangements, including native title arrangements. Although Buru believes that the expectations raised in this presentation are reasonable there can be no certainty that the events or operations described in this presentation will occur in the timeframe or order presented or at all. There are numerous uncertainties inherent in estimating reserves and resources, and in projecting future production, development expenditures, operating expenses and cash flows. Oil and gas reserve engineering and resource assessment must be recognised as a subjective process of estimating subsurface accumulations of oil and gas that cannot be measured in an exact way. All contingent resources and prospective resources presented in this report are pursuant to the Company’s ASX releases of 14 August 2025, 26 July 2024, 17 June 2024 and 18 January 2018 . The estimates of contingent and prospective resources included in this Presentation have been prepared in accordance with the definitions and guidelines set forth in the SPE PRMS. Buru is not aware of any new information or data that materially affects the information included in this presentation and all material assumptions and technical parameters underpinning the estimates in this presentation continue to apply and have not materially changed. The probabilistic method was used to prepare the estimates of the contingent and prospective resources. No representation or warranty, expressed or implied, is made by Buru or any other person that the material contained in this presentation will be achieved or prove to be correct. Except for statutory liability which cannot be excluded, each of Buru, its officers, employees and advisers expressly disclaims any responsibility for the accuracy or completeness of the material contained in this presentation and excludes all liability whatsoever (including in negligence) for any loss or damage which may be suffered by any person as a consequence if any information in this presentation or any error or omission there from. Neither Buru nor any other person accepts any responsibility to update any person regarding any inaccuracy, omission or change in information in this presentation or any other information made available to a person nor any obligation to furnish the person with any further information. All references to $ are in Australian currency, unless stated otherwise. Company snapshot ▪ Focused on the development and commercialisation of the Rafael Gas Project, based on Buru’s wholly owned and operated conventional gas and condensate discovery in the Canning Basin of Western Australia. ▪ Rafael Gas Project expected to deliver material and enduring cashflows from 2028/early 2029 and create long term value and growth opportunities for Buru shareholders and stakeholders. Where We Operate 1 Board of Directors Ms Joanne Williams Currently Independent NED (Executive Director from 8 May 2026) Mr Malcolm King Independent Non-Executive Director Mr David Maxwell Currently Independent Non-Executive Chair (Executive Chair from 8 May 2026 Buru Energy Corporate Update – April 2026 Capital Structure Shares on issue1 million 1,003 Market Capitalisation2 A$ million 17.0 Cash1 A$ million 2.0 Debt A$ million nil 12-month high cents/share 5.5 12-month low cents/share 1.6 Shareholders by Type3 Research 1 as at 31 March 2026, excludes recent equity raising 2 as at 20 April 2026 3 as at 31 December 2025. 88.6% 9.86% 0.8% 0.8% Retail & HNW Domestic Institutions Foreign Institutions Directors & Employees Rafael Gas Project Summary 2 1 High value gas business with condensate plus LPG significant value adds ▪ Rafael Gas Project is a market disruptor and has no competition as a regional producer of hydrocarbon- based fuel. ▪ Attractive returns and long-term (~20 years) foundation cash flow from 2028/29. Gas for domestic use plus material volume of condensate liquids and LPG for domestic markets. 2 …based on a proven resource ▪ Rafael discovery in 2021, the first proven major conventional gas field found onshore in the Canning Basin, Western Australia (WA). Buru owns 100% and operates the field. ▪ Foundation Project is based on the high confidence (P90) resource volume of 85 Bscf of gas and 1.8 MMstb of liquids. ▪ Significant resource upside via P50 (best estimate), P10 (high estimate) and a deeper resource play (Flying Fox). 3 … developed via a simple project ▪ Small footprint based on existing well pad and modularised 250-300tpd LNG plant: • proven design, with existing plants in WA, and • initial 2 wells (including the discovery well). 4 … to supply an existing market with growth ▪ A local source of LNG, condensate liquids and LPG, replacing costly and insecure long-distance trucking or imported fuel for power generation and mining in northwest Western Australia. 5 … with an established downstream partner ▪ An agreed business model with Clean Energy Fuels Australia (CEFA) to finance, build, own and operate the LNG plant and is natural partner for product distribution. Model includes investment of ~ A$150 million (80% of project capex) recovered via a fee payable by Buru. Buru pre-FID spend limited to resource validation, approvals and upstream operations. 6 … being optimised to maximize shareholder value ▪ Additional condensate and LPG product streams increase commercial optionality and total project value by circa 45%. Buru is the natural party to market and benefit from increased condensate value. Rafael 1 well testing – March 2022 Buru Energy Webinar Presentation – April 2026 High value business Economic Screening 1 based on Rafael 1C Resource with initial 12-month production ramp up, and maximum production rates of 200 tpd LNG, 69 kLpd condensate and 15tpd LPG for 20 years. Based on 100% Project Economics and “mid-case” LNG, condensate and LPG sales price assumptions. Economic screening date 2025 2026 2026 Financial structure Capex Model2 Capex Model2 Opex Model3 Gas Sales Price A$/GJ (domestic)4 $15.00 $15.00 $15.00 Liquids (condensate) Sales Price A$/litre (domestic) $1.50 $1.50 $1.50 LPG Sales Price A$/tonne (domestic) N/A $900.00 $900.00 Following in gross terms (A$), 2026$, pre-tax Total gas revenue ($M) 1,800 1,810 1,810 Total condensate revenue ($M) 400 910 910 Total LPG revenue ($M) 0 120 120 Total Opex/Royalties ($M) (500) (790) (1,160) Average Pre-Tax Operating Cashflow/annum ($M) 70 103 84 NPV10 ($M) 400 590 560 IRR 44% 42% 80% 1 Equity economics, ungeared in 2026-dollars. Basis of plant design for the 2026 cases include a 3rd well in Year 8 and additional capex for condensate separation, stabilisation and storage. Additional capex more than offset by higher returns from additional condensate and new LPG product stream. The figures are before any financing costs and inclusive of facilities and well capex and provisions for abex. NPV and IRR are pre-tax. Buru Energy has more than $200 million in tax losses which can be applied against future profits. $M = 2026$ million. 2 Capex model – Buru to finance entire project development, vs pay a recurring service fee (tariff) to a third party. 3 Opex model assumes third party capex plant investment recovered through a tariff. 4 Regional gas fired power stations are fuelled by LNG delivered over long distances (615 – 1,520kms). This is costed at $22/GJ (Broome Clean Energy Study Feb 2023, Sustainable Energy Now) 3 Key insights ▪ Economic screening demonstrates significant value. Note this is based on 200 tpd LNG with plant capacity up to 250-300 tpd ▪ Material uplift from 2025 screening due to expected increase in condensate production and new LPG product stream ▪ “Mid-case”, represents a 20 - 47% increase in annual pre-tax cashflow (depending on capex/no tariff vs opex/tariff model) ▪ Internal Rate of Return range is 42 – 80% depending on commercial model 1 Buru Energy Webinar Presentation – April 2026 Rafael Contingent Resources1 – T20 primary reservoir interval only (Buru analysis, post Rafael 3D seismic survey, pre-inversion analysis) Gross 1C2 2C 3C Gas (Bscf) 85 220 523 Condensate (MMstb) 1.8 4.5 10.6 Net 1C2 2C 3C Gas (Bscf) 76 176 401 Condensate (MMstb) 1.6 3.6 8.1 2 High confidence resource volumes used to underpinRafael Gas Project basis 1 Refer to the ASX release of 26 July 2024 for full definitions and disclosures.Buru is not aware of any new information or data that materially affects this assessment and that all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed. Rafael 1 drilled on 2D seismic in 2021 encountered significant gas columns in a large 4-way structural closure. (1) Primary Reservoir Interval (robust base case): • Crestal T20 Ungani Dolomite (Contingent Resources) • Proven reservoir, produced in Ungani Oilfield • Flow tested in 2022 and produced at 7.6 MMscf/d (2) Secondary Reservoir Interval (upside): • Upper T30 Laurel Dolomite (Prospective Resources) • Petrophysical evaluation indicates gas • Interval closed off and was not tested in 2022 due to operational difficulties (3) Deeper Nullara target (upside): • New Flying Fox exploration target being worked (Prospective Resources) 4 Rafael - a large, high confidence resource Rafael 1 Drilled W E Depth (mSS) Carbonate Indicator Ungani Dolomite (T20) Upper Laurel Dolomite (T30) T20 Ungani Dolomite TESTED INTERVAL T30 Upper Laurel Dolomite UNTESTED ZONE Rafael Web-AVO Inversion – K : Bulk Modulus, Carbonate Indicator Rafael 2H planned for early 2027 Deeper Nullara Carbonate 2 Buru Energy Webinar Presentation – April 2026 Flying Fox Prospective Resources1 (Buru analysis, post Rafael 3D seismic survey) 1 Prospective Resources relate to the estimated quantities of petroleum that may potentially be recovered by the application of a future development project(s) relate to undiscovered accumulations. These estimates have both an associated risk of discovery and a risk of development.Further exploration appraisal and evaluation is required to determine the existence of a significant quantity of potentially moveable hydrocarbons. Please refer to ASX Release of 14 August 2025 for full definitions and disclosures. Buru is not aware of any new information or data that materially affects this assessment and that all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed. Flying Fox – A prospect beneath Rafael Prospect: Devonian carbonate target, imaged on recently acquired Rafael 3D, immediately beneath the Rafael 1 discovery, within a faulted closure of 26 km2 and ~370m vertical relief Opportunity: upside Prospective Resource for the Rafael development Could be tested by incremental deepening of proposed Rafael 2H well by ~ 500m Primary Target: gas reservoired in dolomitized, vuggy, reef facies of the Nullara or Pillara Fm (Devonian) and sealed by shales of the May River Formation Chance Of Success: 45% Key risks and uncertainties: • Reservoir quality – effectiveness risk for the dolomitized Devonian carbonate • Fault seal – risk to leak into overlying T20 Ungani Dolomite 5 Significant potential for further resource upside Chance of Success Condensate (MMstb) Gas (Bscf) (COS %) 1U 2U 3U 1U 2U 3U Gross Prospective Resources 45 1.2 5.0 12.6 60 247 614 Net Prospective Resources 45 1.1 4.6 11.3 57 226 551 2 Buru Energy Webinar Presentation – April 2026 Capital efficient project design ▪ Project is based on high confidence 1C Resource of 85 Bscf ▪ 2C best estimate (220 Bscf) or the 3C resource case (523 Bscf)1 adds material upside ▪ Small footprint (based around the existing cleared Rafael 1 discovery well pad – enabling simple and fast approvals ) ▪ No pipeline (trucked LNG, condensate and LPG) ▪ Proven design, modularised construction ▪ Many global small scale LNG plants in operation, with several in Australia (and WA) ▪ Production of up to 300t of LNG with associated condensate and LPG ▪ Current plan based on 2 wells (including the recompletion of the Rafael 1 discovery well as a production well) ▪ Approx 20-year production life with robust cashflow ▪ Significant upside with greater resource and market growth Indicative well locations for Rafael 1 (existing discovery well) and Rafael 2H (previously B) (planned new well for drilling in 2027) 1 Refer to the ASX release of 26 July 2024 for full definitions and disclosures.Buru is not aware of any new information or data that materially affects this assessment and that all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed. 6 3 Buru Energy Webinar Presentation – April 2026 Location delivering regional supply advantage 7 Horizon Power Service Area, Horizon Power Annual Report 2024 Existing gas fired power stations Rafael ▪ Horizon Power (WA government-owned entity) is responsible for generating, procuring, distributing, and selling electricity in region. ▪ Horizon Power is currently executing the West Kimberley Power Project (WKPP) which is designed to solve the Kimberley's heavy and expensive reliance on diesel for electricity with a new system expected to deliver in the 2028 – 2030 window. ▪ Annual power consumption of the five (5) main Kimberley demand centres (Broome, Derby, Camballin/Looma, Fitzroy Crossing and Halls Creek) is ~ 190 GWh1 excluding power consumption for mining use. ▪ Current gas demand for retail power generation is 6TJ/d to 13TJ/d (seasonal). ▪ Plus more than 100 remote communities rely on diesel for primary power generation. ▪ Additional robust demand for power outside the immediate “capture zone” by resource projects not on the gas pipeline network. ▪ Existing and probable mine project demand estimated at >15TJ/d. 1 Published Horizon Power data 4 Buru Energy Webinar Presentation – April 2026 Growth offtake opportunities for Rafael 8 Project Owner Location Road distance from Karratha (kms) Road distance from Rafael (kms) Approx. daily demand Notes Thunderbird Mineral Sands mine Sheffield Resources / Yansteel West Kimberley 730 115 2 TJ/d Natural potential customer due to proximity to Rafael Kimberley Meat Works Alberta Investment Management Co. West Kimberley 845 70 0.5 – 1 TJ/d Natural potential customer due to proximity Browns Range Heavy Rare Earths mine Northern Mineral East Kimberley 1,545 710 2 TJ/d FID 2Q 2026. First ore 2028. Requires trucked LNG Savannah Project Zeta Resources East Kimberley 1,405 570 3-4 TJ/d Currently under Care & Maintenance , proposal to create consolidated regional processing facility Winu Copper/Gold/Silver mine Rio Tinto North Pilbara 615 620 3 TJ/d FID early 2027. First ore 2030. Requires trucked LNG. Rafael costs very competitive. Speewah Fluorite and Vanadium Projects Tivan Limited East Kimberley 1,520 685 1.5 – 3 TJ/d FID 4Q 2026. First ore 2029. Local offtake. Ridges Iron Ore Project Kimberley Metals Group (KMG) East Kimberley N/A 630 0.3 – 0.5 TJ/d The mine has historically cycled between active production and "care and maintenance" depending on iron ore prices. Currently reliant on diesel for both plant power and heavy mobility fuel. Smaller gold and base metals projects Various North Pilbara N/A Various 3 TJ/d Existing demand and significant growth as mines switch from diesel. Curtin Airbase Department of Defence West Kimberley N/A 90 Variable Opportunity for condensate and LPG Power generation for remote communities Horizon Power Various >1,000 >100 Variable Opportunity for condensate and LPG 4 Buru Energy Webinar Presentation – April 2026 Derisked funding through strategic partnership A renewables and thermal hybrid power company powering the next generation of mining and resource projects in Australia. Delivers LNG with an extensive range of LNG sources and distribution capabilities, including: ▪ CEFA’s 250 tpd plant in Mt Magnet, and it’s lifting agreements at the 175tpd LNG plant in Kwinana and 400tpd Pluto LNG truck loader in Karratha, WA ▪ Australia’s largest fleet of LNG road tankers and ISO containers ▪ LNG storage and vaporisation facilities for power generation and industrial applications across Australia Builds, owns and operates integrated LNG solutions for mining operations, communities and industry in Australia, with a strong portfolio of West Australian customers including Westgold Resources, Vault Minerals, Lynas Rare Earths, Pilbara Minerals and Bellevue Gold. An energy focused portfolio company, investing in energy infrastructure and low-carbon solutions US private equity firm with US$40 billion in assets under management. Investments in 89 companies operating across 70+ countries. The company invests in energy, utilities, transport and telecommunication projects in North America, Europe, Asia and Latin America. 9 CEFA (downstream operator) to finance, build, own and operate LNG facility and distribute product to market (~A$ 150 million) Buru (upstream operator) to drill a low-risk well (Rafael 2H) to support Reserves Certification and flow-assurance and convert Rafael 1 well to a production well. Buru pays a fee to CEFA to process and distribute gas/liquids to customers Co-operation on marketing to be determined 5 Buru Energy Webinar Presentation – April 2026 2026 design-led insights create more value 10 ▪ The SMR process is the workhorse of the LNG industry used in many liquefaction installations. ▪ Process flow modelling confirms uplift in condensate volumes and a new, valuable LPG product stream. ▪ Rafael Gas Project worth more today than previous estimates. ▪ Buru working to ensure: - final funding structure reflects the increased value; and - shareholders benefit from higher value. Rafael Gas Project : Generic Single Mixed Refrigerant (SMR) based Small Scale Process Scheme New source of value. not modelled in previous project economics Increased source of value based on process flow modelling and not reflected in previous project economics Robust value reconfirmed from process flow modelling. Feedstock for power generation and third- party minerals processing 6 Buru Energy Webinar Presentation – April 2026 Optimised schedule to capture value pre-FID 11 First cashflow targeting late 2028 / early 2029 Value-add activities: 1. Upstream / downstream project integration 2. Gas, condensate and LPG1 marketing 3. Upstream funding, project commercial frameworks and agreements 4. EPA2 WA Referral 5. Agreement making with Traditional Owners 6. Drilling and flow testing Rafael 2H, recompleting and flow testing Rafael 1 and Reserves Certification 1LPG = Liquified Petroleum Gas. 2EPA = Environmental Protection Authority Western Australia Shifting Rafael 2H and Rafael 1 recompletion to post-wet season, de-risks operational logistics, better rig availability and aligns with the optimised development plan. 6 Buru Energy Webinar Presentation – April 2026 Funding and optionality update 12 The Rafael Gas Project is a vital asset for regional energy security. Buru and Carlingford (UK) continue to facilitate the funding process with potential counterparties. Several options being pursued in parallel Status of partner engagement ▪ Multiple parties entering the Data Room and conducting technical and commercial due diligence. ▪ Range of options available and being discussed. Strong project fundamentals + further value uplift ▪ To date, proponents have cited attractive project economics and improving sentiment on the role of hydrocarbons in the medium to long term as reasons for interest. ▪ Recent design-led project /value uplift creates new opportunities for parties that were looking for more upside (and downside protection). Process ongoing ▪ Discussions continue with local and international parties whose strategic horizons remain aligned with project and value realisation timing. Buru pro-active ▪ Actively broadening engagement to include investors focused on energy based on the updated project economics and value accretive assets. ▪ Concentrating on the “short-list” while exploring alternative funding structures. Increased condensate and LPG product streams creates additional project value, which increases the options available for funding and commercial agreements Buru Energy Webinar Presentation – April 2026 Experienced team to deliver 13 Ms Joanne Williams Currently Independent Non-Executive Director Executive Director from 8 May 2026 >25yrs technical, engineering Mr Malcolm King Independent Non-Executive Director >35yrs commercial, exploration, operations Paul Bird CFO and Company Secretary >25yrs finance, governance Mr David Maxwell Currently Independent Non-Executive Chair Executive Chair from 8 May 2026 >35yrs strategy, gas commercialisation, risk and asset management Leaders with deep industry experience and a proven track record of delivery Thomas Nador CEO – Departing the business on 8 May 2026 for health reasons >25yrs strategy, resource development, commercial Project Development Support Buru Energy Webinar Presentation – April 2026 Questions and Answers ASX:BRU Example of a small-scale LNG facility at Mount Magnet, Western Australia. Photo courtesy of Clean Energy Fuels Australia (CEFA) Pre-webinar questions Q - 1 • Why were shareholders not informed of the upside information but sophs were in the latest offer to them? • Why no SPP for existing holders with the recent raising? • The announcement on 17 April 2026 said that the Placement SPP will be announced on 17 April 2026. I can't find any other information about the SPP. Can you clarify what is happening with the SPP (share purchase plan)? • What are the funding/partnering options being considered? • Will the momentum stall with no CEO? • What about Government funding for Rafael? Buru Energy Webinar Presentation – April 2026 Pre-webinar questions Q - 2 • While the technical identification of additional liquids and LPG product streams is a welcome development, I am struggling to reconcile the "increased value" narrative with the cold maths of the recent placement. The company has reported that these engineering studies have increased the projected "mid-case" Rafael project value by more than 45%. However, the recent capital raise and the associated 1-for-2 free attaching options represent a potential dilution of approximately 56% to existing shareholders if all options are eventually converted. By my calculations (1.45 value/1.56 shares), an existing shareholder ends up with ~93% of the value-per-share they held previously. How is the average shareholder "better off" by accepting a net decrease in their share of the project value in exchange for another year’s delay to appraisal drilling? How is the board looking after their interests? Has the company genuinely “elected” to pursue this revised path out of choice or due to the complete failure of the downstream partnering process. Alongside prioritising the Rafael Project, should restarting Ungani on a 100% basis to generate non-dilutive cash flow not have been given the highest priority a long time ago instead of making it dependent on farming out 50% and drilling an exploration well? Buru Energy Webinar Presentation – April 2026 Appendix 1 Portfolio of Assets ASX:BRU Example of a small-scale LNG facility at Mount Magnet, Western Australia. Photo courtesy of Clean Energy Fuels Australia (CEFA) Buru has a portfolio of assets - Yulleroo A1 - 1 Depth Structure Map of the near top Lower Laurel Carbonates Yulleroo 2 clean-up flow 2010 Prospective Resources Low Best High Sales Gas (PJ) 124.6 302.8 611.0 Associated Liquids (MMbbls) 4.3 11.9 24.8 ▪ Yulleroo accumulation is defined by four wells - all intersecting thick gas saturated sections with gas below closure mapped on 3D seismic and Yulleroo 4 deliberately drilled outside closure ▪ Potential conventional pay in Yulleroo 3 ▪ Yulleroo 2 in 2010 (3 zones) produced rates up to 1.8 mmcfd and high condensate content ▪ Independent review by RISC estimated Contingent and Prospective Resource sales gas and associated liquids in the Yulleroo Field as at 1 December 2017 as follows: Contingent Resources 1C 2C 3C Unlimited Recoverable Sales Gas (PJ) 321.4 714.0 1,627.0 Unlimited Recoverable Associated Liquids (MMbbls) 9.5 24.9 47.6 • RISC’s Contingent Resource and Prospective Resource assessment has been prepared using the probabilistic method and an evaluation date of 1 December 2017. • Contingent Resources are quantities of petroleum estimates as of a given date to be potentially recoverable from known accumulations by application of development project(s) but which are not currently considered to be commercially recoverable due to one or more contingencies. Contingent Resources are a class of discovered recoverable resources. • Prospective Resources are estimated quantities of petroleum that may potentially be recovered by the application of a future development project(s) that relate to undiscovered accumulations. These estimates have both an associated risk of discovery and a risk of development. Further exploration, appraisal and evaluation is required to determine the existence of a significant quantity of potentially moveable hydrocarbons. • The full resource statement is set out in accordance with ASX Listing Rules in Buru’s ASX release of 18 January 2018. Buru Energy is not aware of any new information or data that materially affects the information included in the 18 January 2018 release and all material assumptions and technical parameters underpinning the estimates in that release continue to apply and have not materially changed. A significant unconventional gas and liquids rich accumulation on the western side of the Canning Basin Buru Energy Webinar Presentation – April 2026 Buru has a portfolio of assets - Ungani oilfield A1 - 2 ▪ Ungani under care and maintenance since August 2023. ▪ Produced ~2.3mmbbls of oil to date with ~220,000 bbls remaining. ▪ Oil was previously sold at a premium to Dated Brent into the Southeast Asian market. ▪ Success at nearfield exploration prospect (Mars 1) can underpin re-commencement of production with robust economics ▪ Currently seeking expressions of interest for the drilling of the Mars 1 exploration well Buru Energy Webinar Presentation – April 2026 Buru has a portfolio of assets - Mars prospect ▪ Located 9km from the Ungani Production Facility (UPF), discovery at Mars 1 would underpin the restart of oil production, and increase commercialisation options on robust economic terms ▪ Geological Chance of Success is 40% ▪ The Mars 1 exploration well has a planned maximum total vertical depth of 1,808 mTVDSS (success case) ▪ Drill and complete cost ~A$7 million ▪ A pipeline solution to the UPF could be laid in ~ 20 days at a cost of A$2 million ▪ Buru is progressing discussions with third parties looking for opportunities to participate in an oil business 1 Prospective Resources relate to the estimated quantities of petroleum that may potentially be recovered by the application of a future development project(s) and relate to undiscovered accumulations. These estimates have both an associated risk of discovery and a risk of development. Further exploration, appraisal and evaluation is required to determine the existence of a significant quantity of potentially moveable hydrocarbons. Refer to Buru ASX Release 17 June 2024 for full definitions and disclosures. Buru is not aware of any new information or data that materially affects this assessment and that all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed. Prospective Resources (mmbbls)1 Low Best High Stock Tank Oil Initially in Place (STOIIP) 3.0 10.6 21.7 Ultimate Recovery of Oil (UR) 0.7 2.8 6.2 A1 - 3 Buru Energy Webinar Presentation – April 2026 Buru Energy Limited Level 2, 16 Ord Street West Perth, Western Australia 6005 PO Box 1