Announcement PDF RIU Good Oil Presentation September 2025 ASX:BAS BASS OIL LIMITED AN EMERGING AUSTRALIAN GAS PRODUCER DISCLAIMER Important Notice This document is confidential and may not be reproduced, redistributed or passed on, directly or indirectly. This document is neither a prospectus nor an offer to subscribe for Shares. The purpose of this presentation is to provide general information about Bass Oil Ltd (“Bass” or the “Company”). This presentation is current as at 10 September 2025 (unless otherwise stated herein) and the information contained in it is in a summary form and does not purport to be complete. The information in this presentation remains subject to change without notice. It is not recommended that any person makes any investment decision in relation to the Company based solely on this presentation. This presentation does not necessarily contain all information which maybe material to the making of a decision in relation to the Company. Any investor should make their own independent assessment and determination as to the Company’s prospects prior to making any investment decision and should not rely on the information in this presentation for that purpose. This presentation does not involve or imply a recommendation or a statement of opinion in respect of whether to buy, sell or hold securities in the Company. The securities issued by the Company are considered speculative and there is no guarantee that they will make a return on the capital invested, that dividends will be paid on the shares or that there will be an increase in the value of the shares in the future. This presentation is not, and does not constitute, an offer to sell, or the solicitation, invitation or recommendation of an offer to buy, any securities in any jurisdiction, including the United States, and neither this presentation, nor any of the information contained herein, shall form the basis of any contract or commitment. The information in the presentation does not constitute an advertisement for an offer or proposed offer of securities and does not constitute a representation that an offering will occur. No person is authorised to give information or make any representation that an offering will occur. Any securities of Bass have not been, and will not be, registered under the U.S. Securities Act or the securities laws of any state or other jurisdiction of the United States and, if there is an offer of securities, may not be offered or sold in the United States except in transactions exempt from or not subject to, the registration requirements of the U.S. Securities Act and any other applicable securities laws. This presentation is presented for informational purposes only. It is not intended to be, and is not, a prospectus, product disclosure statement, offering memorandum or private placement memorandum for the purpose of Chapter 6D of the Corporations Act 2001. Except for statutory liability which cannot be excluded, the Company, its officers, employees and advisers expressly disclaim any responsibility for, and make no representations or warranty for, the accuracy or completeness of the material contained in this presentation and exclude all liability whatsoever (including in negligence) for any loss or damage which may be suffered by any person as a consequence of any information in this presentation or any error or omission there from. The Company accepts no 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. This presentation contains “forward-looking statements” and comments about future events, including statements about Bass’s expectations about the performance of its business. Forward-looking statements may include words such as “anticipate”, “believe”, “expect”, “project”, “forecast”, “estimate”, “out-look”, “upside”, “likely”, “intend”, “should”, “could”, “may”, “target”, “plan”, and other similar expressions. Indications of, and guidance on, future earnings and financial position and performance are also forward-looking statements. Forward-looking statements, opinions and estimates provided in this presentation are based on assumptions and contingencies which are subject to change without notice. Forward-looking statements including projections, guidance on future earnings and estimates are provided as a general guide only and should not be relied upon as an indication, prediction or guarantee of future performance. Actual results may differ materially from those expressed or implied in such statements and these differences maybe material. The forward-looking statements in this presentation involve known and unknown risks and other factors, many of which are beyond the control of, or unknown to, Bass, its directors, officers and employees, and may involve significant elements of subjective judgement and assumptions as to future events which may or may not be correct. Such forward looking statements are based on information available to Bass as at the date of this presentation. Recipients are cautioned not to place undue reliance on forward looking statements and except as required by law or regulation, Bass assumes no liability to update these forward-looking statements. Such statements speak only as of the date hereof, and Bass has no obligation to update or revise any such statements to reflect any change in events, conditions or circumstances on which any such statement is based. No representation or warranty, express or implied, is made by the Company that the matters stated in this presentation will be achieved or prove to be correct. Recipients of this presentation must make their own investigations and inquiries regarding all assumptions, risks, uncertainties and contingencies which may affect the future operations of the Company or the Company’s securities. The Company does not purport to give financial or investment advice. No account has been taken of the objectives, financial situation or needs of any recipient of this document. Recipients of this document should carefully consider whether the securities issued by the Company are an appropriate investment for them in light of their personal circumstances, including their financial and taxation position. Resources and Reserves Statement Cautionary Statement 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 a 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 recoverable hydrocarbons. Qualified Petroleum Reserves and Resources Evaluator Statement The information contained in this report regarding the Bass Oil Limited reserves and contingent resources is based on and fairly represents information and supporting documentation reviewed by Mr Giustino Guglielmo who is an employee of Bass Oil Limited and holds a Bachelor of Engineering (Mech). He is a member of the Society of Petroleum Engineers (SPE) and a Fellow of the Institution of Engineers Australia (FIEAust) and as such is qualified in accordance with ASX listing rule 5.4.1 and has consented to the inclusion of this information in the form and context in which it appears. RIU Good Oil Presentation – September 2025 2 COMPANY OVERVIEW Positioned for growth on a gas-led expansion ➢ Bass is an ASX listed energy company with Cooper Basin and Indonesian oil production. ➢ Debt-free, with cashflow, led by a team with a proven track record of creating value. ➢ Bass has built a balanced portfolio of cash generating oil assets and gas assets with significant growth potential. ➢ The focus is on now entering the East Coast Gas Market (ECGM). ➢ The recent Vanessa Gas field acquisition; ➢ Provides a low-cost and fast-track entry path into the ECGM. ➢ Accelerates the evaluation of the potential ‘company making’ deep coal gas resource in PEL 182. RIU Good Oil Presentation – September 2025 Gas/liquids separator in place at Vanessa facility 3 BASS OIL | CORPORATE SNAPSHOT Company is committed to becoming a mid-tier oil and gas producer Snapshot Ownership Summary ASX Code Directors and Staff 9% BAS Shares (Ordinary) Share Price 12-Month Chart 319,386,899 Share Price $0.028 Market Capitalisation A$9.0m Enterprise Value A$7.0m Net Cash (30 Jun 2025) A$2.0m Total No. Shareholders 1822 Institutional and Corporate 27% Retail 64% Board Chairman, Nonexecutive Director Hector M Gordon Managing Director Tino Guglielmo RIU Good Oil Presentation – September 2025 Non-executive Director Laura Reed Non-executive Director Mark Lindh 4 VANESSA ACQUISITION Strategic acquisition unlocking near-term gas production and long-term growth potential ➢ Acquiring valuable infrastructure ➢ a production well ➢ processing equipment ➢ pipeline connection to the Cooper Basin network. ➢ Accelerates gas sales into the ECGM, bringing forward revenue generation. ➢ No acquisition cost, with vendor contributing to the rehabilitation liability. ➢ Untested conventional and tight gas targets in multiple formations provides upside. ➢ Accelerates evaluation of the ‘company making’ deep coal gas potential in Bass’ PEL 182. PEL 182 Deep Coal Gas field map RIU Good Oil Presentation – September 2025 5 VANESSA - UNLOCKING GAS POTENTIAL Existing well provides low-cost access to multiple untested gas zones at Vanessa-1 ST1 ➢ Gas production to date only from existing conventional Epsilon pay zone. ➢ Multiple gas-bearing zones remain untested and none have been fracked. ➢ Future frack stages to target tight sands and coals boosting production and reserves. ➢ The untested zones have potential for significant increases in total gas recovery. ➢ Evaluation of deep coal formations now possible without drilling a new well. Vanessa-1 ST1 Stratigraphic column diagram RIU Good Oil Presentation – September 2025 6 DEEP COAL GAS RESOURCE PLAY 100% owned PEL 182 presents a ‘Company making’ opportunity ➢ Patchawarra trough is Australia’s next gas resource play, similar to the Beetaloo basin and Taroom trough. ➢ PEL 182 contains “best estimate” of 21 TCF of gas in place, along with 845 million barrels of condensate in place1,2 ➢ Moolion East prospect, intersected by Vanessa, has an assessed prospective resources (2U) of 568 BCF of gas with 22.7 million barrels of condensate1,2 ➢ Phase 2 of SLB study - focus on preliminary well and frac designs with economics. ➢ Planned activity by neighboring operators to provide a catalyst for a re-rating. Total net Permian coal thickness in the Patchawarra Trough Please refer to ASX Announcement, 1“Significant Gas Resource Identified in PEL 182” and 2“PEL182 Geomechanical Study Results” released 16 November 2022 and 16 September 2024 respectively for further information and page 2 - Cautionary Statement RIU Good Oil Presentation – September 2025 7 KIWI GAS DISCOVERY | MILLION BARREL OPPORTUNITY Bass’ 100% owned Kiwi gas field – surpasses economic threshold with high condensate yield ➢ Kiwi production test recorded rates of 4.1 million cu-ft/day and 988 barrels of condensate per day2 ➢ High condensate yield increased the best estimate of Contingent Resources (2C) to 1.02 million boe1,2 ➢ Screening economics indicate an ATAX NPV of over $20 million. ➢ Kiwi field development approval will more than double booked reserves. ➢ Kiwi high grades follow up opportunities such as the Kiwi North prospect. ➢ Financing options include farming down from 100% ownership. Ex PEL 90K block location map Please refer to ASX Announcements, “2024 Reserves and Contingent Resources” , “Kiwi 1 Extended Production Test (EPT) Update” and “Kiwi-1 Demonstrates Strong Initial Results from EPT”, released 28 March 2025, 26 September 2023 and 27 August 2024 respectively for further information RIU Good Oil Presentation – September 2025 8 OUTLOOK Building a portfolio of high potential oil and gas assets Extract Maximum Value from Vanessa ➢ Vanessa gas field acquisition positions Bass for early first gas sales into the ECGM. ➢ Project planning commenced to return Vanessa to production. ➢ Vanessa provides a fast-track pathway for the deep coal gas project in PEL 182. Kiwi Field Development ➢ Kiwi gas field progressing to commercialisation. ➢ Multiple funding options, including farm down, under review to accelerate development of this high value project. Gas flare from Kiwi-1 wellsite at 1.7 mmcfd RIU Good Oil Presentation – September 2025 9 WHY INVEST IN BASS? Current valuation of 2P reserves exceeds the company's market capitalisation ➢ Market not recognising full value of existing 2P reserves, leading to undervaluation. ➢ Indicative value of current 2P reserves exceeds the market cap by ~200%. ➢ Current share price attributes no value to Vanessa, Kiwi and the deep coal gas assets. ➢ Bass’ 2025 work program and planned activity by neighboring operators should provide a catalyst for a re-rating. Map of Cooper basin gas field and Bass Oil permits 1Please refer to ASX Announcements, “2024 Reserves and Contingent Resources”, released 28 March 25 RIU Good Oil Presentation – September 2025 10 Tino Guglielmo – Managing Director tino.guglielmo@bassoil.com.au +61 3 9927 3000 www.bassoil.com.au