Blue Energy : Investor Presentation

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INVESTOR PRESENTATION

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9 March 2022

Restrictions

This presentation has been prepared for publication in Australia and may not be released to US wire services or distributed in the United States. The New Shares have not been, and will not be, registered under the US Securities Act of 1933 (the

"US Securities Act") and may not be offered or sold in the United States except in transactions exempt from, or not subject to, the registration requirements of the US Securities Act and applicable US state securities laws. The distribution of this

presentation in the United States and elsewhere outside Australia may be restricted by law. Persons who come into possession of this presentation should observe any such restrictions as any non-compliance could contravene applicable

securities aws. Please refer to the section of this document headed "International Offer Restrictions" for more information.

Not financial product advice

This prese

tation does not provide investment advice or financial product advice. You should obtain professional advice and carry out your own independent investigations and assessment of the information in this presentation (including any

assumptio s) before acting. Before making an investment decision to acquire shares in the Company, you should consider the appropriateness of available information, including the Company's other periodic and continuous disclosure

a

ou ceme ts lodged with ASX, having regard to your own investment objectives, financial position and particular needs, and seek professional advice from your accountant, tax adviser, stockbroker, lawyer, or other professional adviser.

No represe

tation or warranties

The C mpany makes no representation and gives no warranties (express or implied) in relation to any information, opinions and conclusions contained in this presentation. The truth, accuracy or completeness of any information provided by the

C

mpany in this presentation is not assured or warranted and no responsibility or liability is accepted by the Company, its related bodies corporate or its directors, officers and advisors for any reliance placed on such information. To the fullest

extent permitted by law, none of the Company and its related bodies corporate, or their respective directors, employees, agents or advisers, nor any other person, accepts liability for any loss arising from the use of this presentation or its contents or

therwise arising in connection with it, including without limitation, any liability from fault or negligence on the part of the Company, its related bodies corporate or any of their respective directors, employees, agents or advisers. BLU accepts no

onlyresp nsibility 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.

Past and future performance

Past performance of the Company, including share price performance, should not be relied upon as an indicator of future performance.

This pr

s ntation also contains certain statements which may constitute "forward-looking statements." Wherever possible, words such as "intends", "expects", "scheduled", "estimates", "anticipates", "believes", and similar expressions that certain

actions,

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nts or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, have been used to identify these forward-looking statements. Such statements are only expectations or beliefs and are subject to inherent risks and

unc rtainti

s which could cause actual values, results or performance to differ materially from those expressed or implied in this presentation. No representation or warranty, express or implied is made by BLU that any forward-looking statement

contain

d in this presentation will occur, be achieved or prove to be correct. You are cautioned against relying upon any forward-looking statement.

Inve tment Risk

An inve tment in shares in BLU (including New Shares) is subject to investment and other known and unknown risks, some of which are beyond the control of BLU. Shareholders and prospective investors should have regard to the risks outlined in

this pre

entation, including the "Key Risks" section of this presentation, when making their investment decision.

Market and industry data

This presentation contains information relating to the industries, segments and markets in which the Company operates ("Industry Data"). Unless otherwise stated, this information has been prepared by the Company using both publicly available

data and its own internally generated data. The Company's internally generated data is based on estimates and assumptions that the directors and management of the Company believe are reasonable. In addition to the Industry Data, the

presentation contains third party market data, estimates and projections. There is no assurance regarding the accuracy of such information and the third party information, and the Industry Data, has not been independently verified by the Company.

useFinancial data

All dollar values are in Australian dollars ("$" or "A$" or "AUD") unless stated otherwise.

Acknowledgement and agreement

By accepting, accessing or reviewing this presentation, you acknowledge and agree to the terms set out in this "Disclaimer" section of this presentation and in the ''International Offer Restrictions" section of this presentation

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Scale

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North Bowen Basin gas resource has scale - 15,000 PJ of gas resource - equivalent to 30 years of dom gas

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No intense agricultural activities

• No Great Artesian Basin Aquifers present

Timing

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Quicker to market compared to Beetaloo and Galilee Basins - 3-5 years for gas to market