Announcement PDF PESA NSW/ACT Presentation 8 September 2026 ASX:BAS BASS OIL LIMITED AN EMERGING AUSTRALIAN OIL & GAS PRODUCER PESA – NSW/ACT - September 2026 2 DISCLAIMER 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 1 September 2026 (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. Important Notice PESA – NSW/ACT - September 2026 3 COMPANY OVERVIEW ➢ Bass is an ASX listed energy company with:- ➢ Oil production in Indonesia & the Cooper Basin ➢ Growth coming from a number of oil & gas development projects ➢ Portfolio also contains appraisal & exploration targets ➢ Indonesian drilling finds new oil sand & highlights westerly extension of Bunian field – to significantly increase oil production ➢ Bass to enter East Coast Gas Market (ECGM) by end 2026 via acquisition of Vanessa Gas field ➢ Vanessa will accelerate appraisal of ‘company making’ coal gas resource in PEL 182 ➢ Development of the Kiwi liquids rich gas field in the Cooper Basin provides medium term growth Poised for growth on an expansion of oil and gas production at a time of sustained high prices PESA – NSW/ACT - September 2026 4 FINANCIAL SNAPSHOT ASX Code BAS Shares (Ordinary) 367,005,947 Share Price $0.06 Market Capitalisation A$22.0m Enterprise Value A$18.8m Net Cash (30 Jun 2026) A$3.2m Total No. Shareholders 2,174 Snapshot Share Price 12-Month Chart Company is committed to becoming a profitable mid-tier oil and gas producer Ownership Summary 10.1% 7.5% 82.4% Board & Management Retail Corporate - 10.0m 20.0m 30.0m 40.0m 50.0m - $0.04 $0.08 $0.12 Sep-25 Nov-25 Jan-26 Mar-26 May-26 Jul-26 Volume Share Price PESA – NSW/ACT - September 2026 5 DIRECTORS The company has a committed and experienced team with a proven track record Laura Reed Non-executive Director MBA, BBus (Accounting) & FCPA • +35 years of financial experience in the energy sector • Former Chairperson of Spark Infrastructure Group, Non- Executive Director of ATCO Australia & Canadian Utilities Limited • Previous roles include Chief Financial Officer, Chief Executive Officer & Managing Director Hector M Gordon Chairman, Non-executive Director BSci (Hons) • +45 years of experience in upstream petroleum industry • Former Executive Director & CEO Beach Energy, Non-Executive Director Cooper Energy • Previous employers include Santos Limited, AGL Petroleum, TMOC Resources, Esso Australia & Delhi Petroleum Pty Ltd Tino Guglielmo Managing Director BEng (Mech), FIEAust, MSPE & MAICD • +40 years of technical, managerial & senior executive experience in Australia & internationally • Previous CEO & Managing Director of Stuart Petroleum Ltd and Ambassador Oil & Gas • Former employers include Santos Limited, Delhi Petroleum Limited & NYSE listed Schlumberger Corp PESA – NSW/ACT - September 2026 6 VANESSA ACQUISITION Acquisition of an existing gas field with near-term production and long-term growth ➢ Includes infrastructure – a production well, processing equipment & pipeline connection to the Cooper Basin network ➢ Accelerates gas sales into the ECGM - scheduled for late 2026 ➢ Low acquisition cost - vendor contributing to rehabilitation ➢ Significant upside potential - from fracking conventional and tight gas zones in Vanessa ➢ Additional unconventional gas upside from deep coals Gas/liquids separator in place at Vanessa facility PESA – NSW/ACT - September 2026 7 DEEP COAL GAS RESOURCE PLAY 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 ➢ Studies indicate coals in the Patchawarra Trough may host a gas resource play similar to the Beetaloo Basin & Taroom Trough ➢ PEL 182 contains “best estimate” of 21 TCF of gas in place, along with 845 million barrels of condensate in place1,2 ➢ The deep coals intersected by Vanessa, have an assessed prospective resource (2U) of 568 BCF of gas with 22.7 million barrels of condensate1,2 ➢ Next steps are to determine preliminary well and frack designs with economics to exploit this resource ➢ Santos led CBJV currently appraising coal potential in adjacent acreage 100% owned PEL 182 in the Patchawarra Trough presents ‘Company making’ potential PEL-182 Deep Coal Gas field map PESA – NSW/ACT - September 2026 8 KIWI GAS DISCOVERY | A NEW TRIASSIC GAS PLAY Map of Bass’ Kiwi Gas Field – Northern Cooper Basin Triassic Gas and Oil Play Please refer to ASX Announcements, “2025 Reserves and Contingent Resources” , “Kiwi 1 Extended Production Test (EPT) Update” and “Kiwi-1 Demonstrates Strong Initial Results from EPT”, released 26 March 2026, 26 September 2023 and 27 August 2024 respectively for further information Wholly owned Kiwi field – surpasses economic threshold with high condensate yield & low CO2 ➢ Kiwi production test recorded rates of 4.1 million cu-ft/day and 988 barrels of condensate per day2 ➢ Screening economics indicated an ATAX NPV of over $20 million for 1+ million boe Contingent Resource (2C) ➢ Development approval will more than double Bass’ booked reserves ➢ SA Government awards Bass $3.5 million grant to cornerstone pipeline project ➢ Bass considers Kiwi discovery the beginning of a new trend being pursued by Triassic gas study currently underway PESA – NSW/ACT - September 2026 9 TRIASSIC GAS PLAY IN ARRABURY TROUGH Bass tenements cover entire Basement Terrace hosting Callamurra Gas Play ➢ Kiwi 1 is on a Basement Terrace between the Deramookoo Platform & the Arrabury Trough ➢ Early Triassic and Permian sediments abut the Platform - only 2 wells have drilled the Terrace area ➢ The Kiwi 1 Callamurra gas sand was deposited by rivers flowing eastward across the Basement Platform toward the floodplain in the Trough ➢ The Terrace areas are interpreted to have preferentially focused and sustained fluvial incursions and be the optimal site for Distributive Fluvial System and Axial Channel belt sands ➢ Anticlinal structural traps are mapped. Kiwi 1 drilled off the crest of one of these structures ➢ Stratigraphic trapping mechanism may allow for larger traps than just the structural closures ➢ Geochemical study underway to determine source of hydrocarbons – Permian coal source currently favoured over Triassic algal mats Rivers Basement Kiwi Nth Kiwi Kiwi Sth Callamurra Gas Sand Horizon Kiwi-1 PESA – NSW/ACT - September 2026 10 TRIASSIC GAS PLAY (Cont’d) 2026 Reprocessed Seismic Yields Improvement to More Accurately Define Play 2017 Data 2026 Data Repro Area Gas sand event is resolved and truncation is imaged Kiwi-1 Keleary-1 Kiwi-1 Keleary-1 Kiwi-1 Keleary-1 Faults are better imaged PESA – NSW/ACT - September 2026 11 TRIASSIC GAS PLAY (Cont’d) 2026 Data Defining Basement Architecture and Informing Depositional Model ➢ Seismic attributes allow better definition of the Deramookoo Basement Platform & Basement Terraces ➢ Callamurra Member Isochron informs a depositional model for the Gas Sand seismic event. ➢ The Deramookoo Platform is non-depositional at basal Callamurra time. ➢ Alluvial Valley Fill Distributive Fluvial Systems feed into an Axial Channel Fluvial System skirting the Basement Platform. ➢ Kiwi 1 is a Distributive Fluvial System sand. These are likely thin but widely dispersed. The Axial Channel System sands lie outbound from Kiwi 1 Dip of Maximum Similarity Basement Smooth Basement Terraces Rugose Basement Platform Floodplain Axial Channel System Emergent Basement Platform Depositional Model Basal Callamurra Distributive Fluvial Systems Kiwi-1 Kiwi-1 PESA – NSW/ACT - September 2026 12 TRIASSIC GAS PLAY (Cont’d) 2026 Data Attributes Defining Reservoir Facies for Stratigraphic Trapping Boost ➢ Distributive Fluvial System and Axial Channel System depositional geometries are evident on seismic attributes that define lithology and porosity. ➢ Spectral Decomposition tunes thin beds at higher frequencies to allow the recognition of channel sands. ➢ More work is required as we have only scratched the surface of this exciting play Spec Decomp Basal Callamurra Amplitude Basal Callamurra Axial Channel System Distributive Fluvial Systems Kiwi-1 Kiwi-1 PESA – NSW/ACT - September 2026 13 OUTLOOK Accelerating Oil Production ➢ Bunian 6 oil well to boost production & cashflow Commence Gas Sales from Vanessa ➢ Vanessa acquisition positions Bass for first gas sales into the East Coast Gas Market ➢ Project planning underway to return Vanessa to production ➢ Provides a fast-track pathway for the deep coal gas project in PEL 182 Kiwi Field Development with Follow-up ➢ Kiwi gas field progressing to commercialisation ➢ Multiple follow up opportunities from Kiwi presenting themselves in Triassic study ➢ Multiple funding options under review to accelerate the development Increasing cash flows to build with a portfolio of high potential oil and gas assets Gas flare at Kiwi-1 wellsite Tino Guglielmo – Managing Director tino.guglielmo@bassoil.com.au +61 3 9927 3000 www.bassoil.com.au