ADX Energy : Webinar - European Energy & ADX Gas Opportunities

An independent audit of developed reserves has been completed for ADX' Zistersdorf and Gaiselberg fields ("Fields") in the Vienna basin (Austria) by RISC Advisory Pty Ltd ("RISC"). RISC conducted an independent audit of ADX' Fields evaluations, including production forecasts,

onlyc st estimates and project economics. Production from existing wells is classified as Developed Producing. Production from planned recompletion of existing wells to new intervals is classified as Developed Non-Producing. RISC is an independent advisory firm offering the highest

level of technical and commercial advice to a broad range of clients in the energy industries worldwide. RISC has offices in London, Perth, Brisbane and South-East Asia and has completed assignments in more than 90 countries for over 500 clients and has grown to become an

international energy advisor of choice.

PRMS Reserves Classifications used in this presentation:

Developed Reserves are quantities expected to be recovered from existing wells and facilities.

Developed Producing Reserves are expected to be recovered from completion intervals that are open and producing at the time of the estimate.

Developed Non-ProducingReserves include shut-in and behind-pipe reserves with minor costs to access.

Undeveloped Reserves are quantities expected to be recovered through future significant investments.

A. Proved Reserves (1P) are those quantities of Petroleum that by analysis of geoscience and engineering data, can be estimated with reasonable certainty to be commercially recoverable from known reservoirs and under defined technical and commercial conditions. If

usedeterministic methods are used, the term "reasonable certainty" is intended to express a high degree of confidence that the quantities will be recovered. If probabilistic methods are used, there should be at least a 90% probability that the quantities actually recovered will be

equal or exceed the estimate.

B. Probable Reserves are those additional Reserves which analysis of geoscience and engineering data indicate are less likely to be recovered than Possible Reserves. It is equally likely that actual remaining quantities recovered will be greater than or less than the sum of the

estimated Proved plus Probable Reserves (2P). In this context, when probabilistic methods are used, there should be at least a 50% probability that the actual quantities recovered will equal or exceed the 2P estimate.

C. Possible Reserves are those additional Reserves that analysis of geoscience and engineering data suggest are less likely to be recoverable that Probable Reserves. The total quantities ultimately recovered from the project have a low probability to exceed the sum of Proved

plus Probable plus Possible (3P) Reserves, which is equivalent to the high-estimate scenario. When probabilistic methods are used, there should be at least a 10% probability that the actual quantities recovered will equal or exceed the 3P estimate. Possible Reserves that are

located outside the 2P area (not upside quantities to the 2P scenario) may exist only when the commercial and technical maturity criteria have been met (that incorporate the Possible development scope). Standalone Possible Reserves must reference a commercial 2P project.

Prospective Resource Classifications used in this presentation:

Pr spective Resources are those estimated quantities of petroleum that may potentially be recovered by the application of a future development project(s) related to undiscovered accumulations. These estimates have both an associated risk of discovery and a risk of

development. Further explorations appraisal and evaluation is required to determine the existence of a significant quantity of potentially moveable hydrocarbons.

P(90) Estimate: means at least a 90% probability that the quantities actually recovered will equal or exceed the estimate.

P(50) Estimate: means At least a 50% probability that the quantities actually recovered will equal or exceed the estimate.

P(10) Estimate: means At least a 10% probability that the quantities actually recovered will equal or exceed the estimate.

Oil and Gas Conversions: BOE means barrels of oil equivalent. Bcfe means billion of cubic feet of gas equivalent. Gas to oil conversion used in this presentation: 6 mcf of gas = 1 barrel of oil. Mcf means thousand cubic feet of gas

Welchau Prospect Summary - June 2022

2

ersonal

Our ESG

A sustainable environment

ADX Energy Ltd (ADX) is an ASX listed

Commitment

energy company focussed on Europe

though emissions reduction, innovation

only

and participation in green projects

• We produce safe, long life and low emissions oil

Healthy and vibrant society

and gas

• We are developing new energy reserves which

enriching and safeguarding the health

of communities as well as creating

can significantly increase our production in the

use

employment through a sustainable

coming months

energy transition to a net zero society

Safe and reliable energy

• We have drill-ready, high impact gas exploration

as well as low-risk exploration that can be

ensure reliable energy and transition

rapidly developed

to a low carbon future while

ersonal

exceeding safety and environmental

• We are upcycling and redeploying our assets,

standards

people and skills for long-term zero carbon

Transparency and integrity

energy projects

Ethical and honest engagement with

"Low emissions production, renewable

communities, partners, employees and

energy and decarbonising technologies

shareholders to exceed required

standards and expectation

are not just good for our planet - they

Employer, partner and

are good business!"

Business of choice

Welchau Prospect Summary - June 2022

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Core Activities

Financial information

only

Production

Share price as at 14.06.2022

A$ 0.008

Number of shares

3,059.8 m

Green

Exploration

Number of options

255.5 m

Hydrogen

Market capitalisation

A$ 24.5 m

use

Cash (unrestricted) as at 31.03.2022

A$ 2.5 m

Debt (net of restricted cash)

A$ 3.1 m

Minority interest in subsidiary as at

A$ 8.5 m

31.03.2022

Geothermal

Enterprise value

A$ 33.6 m

ersonal

No. of shareholders

3,950

Corporate & Operations

Austria (Operator & European HQ)

Romania (Operator)

Australia

Italian offshore



Vienna basin oil and

Vienna Basin H2



 Pannonian basin

 Corporate &

exploration permit

gas production

production & storage

Production &

Finance head office,

363C.R-.AX (100%



Upper Austria Oil



Upper Austria

exploration licenses

corporate and finance

development & gas

Geothermal projects

*ADX holds a 49.2% shareholding

interest) Suspended

support

exploration

in licenses via Danube Petroleum

Subject to Moratorium

Welchau Prospect Summary - June 2022

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