亮点：

Innamincka
Yarrow 3井今年迄今已产生154万美元的总生产收入，其中83%来自天然气销售，其余来自液化石油气和凝析油。
该井目前产量稳定。Yarrow
1井因洪水导致完工和并网工作延期。输油管
线建设计划于2025年第四季度开始，Yarrow 1井的首批天然气预计将于2025年第四季度产出，具体时间取决于进度优化情况。Yarrow
1井的重新投入使用预计将在2026年提升现金流，与Yarrow 3井的收入形成互补，并增强Red Sky公司从其Innamincka油田资产组合中获得的长期现金流。 预计
2026年将有更多开发井投入使用。Killanoola DEM已批准KN2井场建设。 井场尺寸已确认为80 x 70米，距离现有DW1井场290米。KN2 井场的建设工作已启动，设备已调集到位，土方工程已开始并已完成 。表土清除工作正在进行中。堆料工作在两天内完成； 场地准备期间有文化监测人员在场。







获得 DEM 批准钻探；两天后开始钻探
KN2 井于 2025 年 10 月 24 日开钻；已钻探、下套管并固井至约365米（MD）的表层孔。
所有承包商设备和人员已安全调配至现场。
开钻前已完成安全和操作检查。
现在将使用另一台修井机完成KN2和DW1井的修井作业。KN2井
旨在提高基拉努拉油田的产量，并支持近期产生可观的现金流。

安哥拉6/24区块。
正式签署安哥拉近海6/24区块风险服务合同。Red
Sky持有该区块35%的权益，Sonangol（50%）和ACREP（15%）也持有该区块的权益
。该区块位于宽扎盆地，面积4,930平方公里，已进行地震勘探，并在Cegonha油田发现石油。
净2C探明资源量为510万桶，2U远景资源量为1100万桶。
该协议为最终确定合资协议、制定工作计划和预算铺平了道路。
加强了Red Sky的长期增长战略和国际业务。多元化

经营
公司截至2025年9月30日拥有180万美元现金储备。
公司将继续评估进一步的收购机会。
红天能源（Red Sky Energy，简称“红天”或“公司”）欣然发布2025年9月季度活动报告。

9月季度，红天能源旗下各项资产均取得显著进展，每个项目都为公司实现增长和价值创造做出了贡献。在伊纳明卡（Innamincka），亚罗3号井持续产生收益，而亚罗1号井预计将于2025年第四季度实现首次产气，这将使该资产在2026年进一步提升现金流。在基拉努拉（Killanoola），KN2井场建设已启动并竣工，同时钻井作业也已开始，旨在释放更多产量并创造近期收益。公司正式签署了安哥拉6/24区块的风险服务合同，从而确保了红天能源在该具有潜在和远景资源的远海区块35%的权益，这为公司的长期多元化发展提供了支持。这些活动共同支撑了近期现金流的产生，并增强了公司为股东创造可持续价值的能力。位于

伊纳明卡穹顶的

Yarrow 3井持续生产，现金流强劲
。Red Sky公司公布，9月份季度现金收入为40万美元，主要得益于Yarrow 3井的持续生产。收入主要来自天然气销售，液化石油气和凝析油也贡献了部分收入。这种持续稳定的收入来源凸显了该资产创造正运营现金流的能力。

自2023年8月投产至2025年9月30日，Yarrow 3井累计现金收入486万美元，其中约85%来自天然气销售，其余来自伴生气。这一收入表现反映了该资产稳健的生产状况及其对Red Sky现金状况日益增长的贡献。Yarrow

1井重新投产：
2月下旬，Red Sky宣布，Innamincka Dome项目运营商Santos Limited（ASX：STO）确认，Yarrow 1井的压裂增产作业即将开始。（参见ASX 2025年2月28日公告。）到下一周，合资企业已成功完成两阶段水力压裂作业，将压裂液和支撑剂注入Patchawarra和Tirrawarra地层，以提高天然气流量。 （参见澳交所2025年3月6日公告。）

在帕查瓦拉（Patchawarra）和蒂拉瓦拉（Tirrawarra）地层成功完成两阶段水力压裂后，该井进行了返排作业，即回收压裂液以及初始产气量。

初始返排结果显示，在48/64英寸节流阀、80磅/平方英寸（psig）井口压力下，早期产气量约为0.6百万标准立方英尺/天（MMscf/d），钻井液和地层水产量约为300桶/天。随着井况稳定，产量有所波动。

返排作业于3月结束，最终在32/64英寸节流阀、467磅/平方英寸（psig）井口压力下，该井的产气量约为1.8百万标准立方英尺/天（MMscf/d），钻井液和地层水产量约为87桶/天（bwpd），流体回收率约为56%。合资企业一直在密切监测返排作业的性能，以确保高效清理并优化天然气产量。

回流作业成功完成后，剩余的压裂后修井作业任务开始，包括安装 E-Line 封隔器尾管井下工具组合 (BHA) 和进行新的 2-3/8 英寸油管完井作业，以优化油井性能。

由于暴雨引发的洪水，Yarrow 1井的完工以及将天然气从井口输送至处理设施的输气管线连接工程已被推迟。

输气管线建设预计将于2025年第四季度末10月下旬开始，首批天然气预计将于2025年第四季度11月开始输送，具体时间取决于资源规划和最终审批情况。Red

Sky将随着作业的进展提供进一步的更新信息，下一次更新预计将在确认输气管线建设开始后发布。

三维地震解释：
2023年12月，Red Sky与Santos合作，成功完成了Innamincka Dome的三维地震采集项目，具体覆盖了PRL14和PRL17区域。此次地震采集对Red Sky至关重要，因为它提供了必要的数据，以便就新开发井的钻探位置做出明智的决策。

此外，它还提供了更多钻井机会，有望提高钻井作业的效率和成功率。

与桑托斯公司的合资项目成本效益高，双方均从地震数据中获益，这将有助于深入了解对井位部署和勘探至关重要的地下构造。目前，工作重点已转移到已采集地震数据的处理和解释。

作业者已重新安排地震数据解释工作，预计将于2025年第四季度完成，新的开发井和一口勘探井预计将于2026年钻探。红天公司持有伊纳明卡穹丘六个PRL（14、17、18、180、181、182）20%的作业权益。

9月，红天石油公司宣布，位于南澳大利亚州佩诺拉槽PRL-13区块的Killanoola油田项目KN2井场已正式开工建设。（参见2025年9月11日澳交所公告。）此前，南澳大利亚州能源与矿业部（DEM）已批准该项目，为建设这座80米×70米的KN2井场扫清了障碍。该井场距离现有的DW1井场约290米。（参见2025年9月8日澳交所公告。）

现场设备已进驻，初期工作重点是移除和堆放表土，并在两天内完成。现场设有文化监测部门，以确保符合文物保护和环境规程。在完成表土填筑阶段后，场地基础的挖填和压实等土方工程以及地窖的后续安装工作均已完成，钻机及辅助设备已运抵现场，水井监测和导管安装工作也已顺利完成。（参见澳大利亚证券交易所2025年10月20日公告和2025年10月22日公告。）

Red Sky公司获得DEM批准，开始钻探KN2井，这是其运营的一个关键里程碑。

（参见澳大利亚证券交易所2025年10月23日公告。）在10月22日获得批准后，Condor Energy公司开始将剩余的第三方服务人员调往现场。Killanoola的钻探工作于2025年10月24日正式启动，KN2井开钻。（参见澳大利亚证券交易所2025年10月27日公告。）Condor 01钻机在完成所有开钻前安全和准备工作后，成功开钻了该井。 12-1/4英寸表层井已钻至约365米井深，表层套管已安装并固井。目前作业重点是准备防喷器设备并更换井底钻具组合，以便继续钻探8-1/2英寸生产井，深度约为1050米井深。KN2井

的钻探启动是基拉努拉石油项目推进过程中的一个重要里程碑，标志着项目从规划阶段过渡到执行阶段。由Condor Energy主导的作业进展顺利，为Red Sky公司实现近期投产和现金流增长奠定了基础，使项目能够取得更多里程碑式的进展。

今年5月，Red Sky公司宣布已与Condor Energy Services Limited、Chawla Group Pty Ltd和VB Energy Pty Ltd（统称“合作方”）签署了具有约束力的合作协议，以资助和推进公司位于南澳大利亚基拉努拉石油项目的KN2井的钻探工作。 （参见澳大利亚证券交易所2025年5月29日公告。）

根据该协议，各权益持有人将共同承担KN2井钻探和完井（或弃井）成本的75%。作为回报，他们将获得KN2井45%的共有权益。Red Sky保留该井55%的权益以及许可证其余部分100%的权益，并将继续担任作业者。

该井设计为垂直井，目标是Red Sky专有的三维地震勘探中确定的构造高位。该位置有望开采出更大比例的初始地质储量。待钻井计划完成且获得部长级批准后，各权益持有人的权益将转换为KN2井的作业权益。该权益持有人协议具有约束力，仅需获得包括部长级同意在内的标准监管批准。Condor

Energy Services还将在24个月内享有在更广泛的PRL 13许可证区域内提供井场服务的优先权。

《法明协议》还规定成立一家非法人合资企业，并就KN2井按照行业标准条款签署联合作业协议（JOA）。

关于基拉努拉和KN2：
基拉努拉石油项目位于南澳大利亚PRL 13区——佩诺拉槽（参见图2）。Red Sky公司于2023年完成的三维地震勘探项目，使该油田的初始地质储量（PIIP）最佳估算值提高了46%，达到1.355亿桶。KN2井的目标是根据这些新数据确定的一个此前未钻探过的构造高地。 （参见附录3和ASX 2023年4月21日公告。）

基拉努拉油田已与Viva Energy Australia Limited（ASX：VEA）签订有条件承购协议，并正与Santos Limited（ASX：STO）（SACB合资企业的运营商）就Port Bonython设施的替代承购和加工方案进行磋商。有关

PRL-13基拉努拉油田（100%）已发现石油地质储量（PIIP）的概要，请参见附录3。

未来计划

：开钻KN2井
；调集修井机完成KN2井和DW1井的修井作业
；推进与Santos就加工和销售方案的有条件承购谈判。Red

Sky认为基拉努拉油田是近期提升股东价值的催化剂，其运营旨在推动产量增长、优化资本效率并加速现金流。

安哥拉6/24
区块风险服务合同（RSC） Red Sky董事总经理Andrew Knox于9月在安哥拉出席了正式签约仪式，该合同此前已获得议会批准。（参见澳大利亚证券交易所2025年9月4日公告。）

这标志着红天能源在安哥拉扩张的重要里程碑，并彰显了公司致力于在非洲最具前景的近海盆地之一建立长期合作伙伴关系的决心。

该区域供应合同（RSC）最初于2024年12月31日由红天能源（持股35%）、安哥拉国家石油天然气和生物燃料管理局（ANPG）（持股50%，作业者）和ACREP（持股15%）签署，此前双方已与安哥拉国家石油天然气和生物燃料管理局（ANPG）进行直接谈判。6

/24区块位于安哥拉宽扎盆地，距海岸仅12公里，包含Cegonha油田。该油田经PetroAus独立评估，拥有510万桶（MMbbl）的净2C探明资源量。新增的三个勘探区块——IBIS、D2 和 B2——为 Red Sky 的投资组合贡献了 1100 万桶净 2U 勘探资源量。早期地震勘探还揭示了 Ibis 勘探区块下方潜在的盐下构造。（有关安哥拉近海 6/24 区块的首次资源量估算，请参阅附录 3。）

后续步骤
：正式协议的签署使合资企业能够进入执行阶段，包括：
最终确定合资企业运营协议 (JVOA)；
启动地质和地球物理 (G&G) 研究
；准备地震数据重新处理和潜在钻探。6

/24 区块的所有权和位置：
Sonangol E&P 是该区块的作业者，持有 50% 的权益。Red Sky Energy 持有 35% 的权益，ACREP 持有 15% 的权益。 6/24区块位于离岸12公里处，水深70至80米。该区块已完成地震勘探，并显示出巨大的石油发现潜力。

展望：
Innamincka项目——Red Sky预计，在与Origin Energy签署的双边天然气销售协议的支持下，Yarrow 3项目将在2025年之前持续产生稳定的现金流。此外，运营商销售伴生气、液化石油气和乙烷也将带来额外收入。由于Yarrow 1项目所在区域发生洪水，输油管线建设将推迟至2025年第四季度启动，并计划在随后不久（同样在2025年第四季度）实现首次天然气生产，具体时间取决于进度安排。Yarrow 1项目的重新投产预计将在2026年显著提升Red Sky的现金流，并增强其Innamincka项目组合的长期价值创造。

预计 Yarrow 3 的 3D 地震解释将于 2025 年第四季度完成，预计其他开发井将于 2026 年开始钻探。

Killanoola石油项目——Red Sky——目前的首要任务是完成KN2井的钻探。井场建设、水质监测和导管安装工作现已完成，该井计划很快开钻。钻机正在调集准备钻探KN2井。公司决定使用独立的修井机完成KN2井和DW1井的钻探，这一顺序旨在降低项目风险。与此同时，与Santos公司的有条件承购谈判也在进行中，为投产后的加工和销售铺平了道路。这些举措使Killanoola能够在短期内产生可观的现金流，并增强公司在陆上石油资产组合的实力。

安哥拉近海6/24区块——随着风险服务合同的正式签署，合资企业将进入执行阶段。当前的优先事项包括最终确定合资经营协议（JVOA）以及启动地质和地球物理（G&G）研究，以加深对地下情况的了解。公司目前正在进行地震数据重处理的准备工作，这将指导潜在钻探的规划。这些活动标志着释放6/24区块巨大资源潜力并推进红天能源国际增长战略的第一步。公司

财务方面，
截至2025年9月30日，公司现金储备为180万美元。
董事会已决议，如果董事的业绩权归属，这些款项将托管三个月。

关联方披露
方面，根据澳大利亚证券交易所上市规则5.3.5的规定，红天能源有限公司特此声明，截至2025年9月30日止期间，公司向关联方支付的款项（详见附录5B）仅限于支付给董事的费用、薪金和养老金。

经董事会授权发布。

HIGHLIGHTS

Innamincka
Yarrow 3 has generated $1.54 million in gross production receipts year-to-date, with 83% from gas sales and the remainder from LPG and condensate
The well is delivering steady flow rates
At Yarrow 1, flooding has delayed completion and tie in
Flowline construction is scheduled to begin in Q4 2025, with first gas from Yarrow 1 targeted for Q4 2025, subject to schedule optimisation
The Yarrow 1 re-entry is expected to boost cash flow in 2026, complementing revenue from Yarrow 3 and enhancing Red Sky’s long-term cash generation from its Innamincka portfolio
Further development wells are expected in 2026

Killanoola
DEM approval received for KN2 pad construction
Pad size confirmed at 80 x 70 metres, located 290 metres from the existing DW1 pad
Construction commenced at the KN2 well pad with equipment mobilised and earthworks initiated and now completed
Topsoil removal and stockpiling completed within two days
Cultural monitoring in attendance during site preparation
DEM approval to drill received; drilling commenced two days later
KN2 well spudded on 24 October 2025; surface hole drilled, cased and cemented to ~365 m MD
All contractor equipment and personnel safely mobilised to site
Pre-spud safety and operational checks completed ahead of drilling
A separate workover rig will now be used for the completion of KN2 and DW1 well workover
KN2 is designed to increase production at Killanoola and support near-term, material cash flow generation

Block 6/24, Angola
Formal signing of the Risk Service Contract for Block 6/24, offshore Angola
Red Sky holds a 35% interest alongside Sonangol (50%) and ACREP (15%)
Block spans 4,930 km² in the Kwanza Basin, with seismic and a Cegonha oil discovery
Net 2C Contingent Resources of 5.1 MMbbl and 2U Prospective Resources of 11.0 MMbbl
Agreement paves the way for JVOA finalisation, and preparation of a work programme and budget
Strengthens Red Sky’s long-term growth strategy and international diversification

Corporate
The Company has cash reserves as at 30 September 2025 of $1.8m
The Company continues to evaluate further acquisition opportunities
Red Sky Energy (Red Sky or the Company) is pleased to present its September 2025 Quarterly Activities Report.

The September quarter delivered meaningful progress across Red Sky Energy’s assets, with each project contributing to the Company’s path to growth and value creation. At Innamincka, Yarrow 3 continues to provide revenues, while Yarrow 1 is scheduled for first gas in Q4 2025, positioning the asset to further boost cash flow in 2026. At Killanoola, construction of the KN2 pad commenced and is now completed, with drilling operations also commenced aimed at unlocking additional production and generating near-term revenue. The formal signing of the Risk Service Contract for Block 6/24 in Angola secures Red Sky’s 35% interest in a prospective offshore block with both contingent and prospective resources, supporting long-term diversification. Together, these activities underpin near-term cash generation and strengthen the Company’s ability to deliver sustainable value for shareholders.

INNAMINCKA DOME PROJECTS

YARROW 3 PRODUCTION CONTINUES TO DELIVER STRONG CASHFLOWS
Red Sky has reported cash receipts of $0.4 million for the September quarter, underpinned by ongoing production from the Yarrow 3 well. The majority of revenue continues to be derived from natural gas sales, supplemented by contributions from LPG and condensate. This consistent revenue generation highlights the asset’s capacity to deliver positive operating cash flow.

Since the commencement of production in August 2023 through to 30 September 2025, Yarrow 3 has generated total cash receipts of $4.86 million, with approximately 85% attributable to gas sales and the balance from associated liquids. This revenue performance reflects the asset’s robust production profile and growing contribution to Red Sky’s cash position.

RE-ENTRY OF YARROW 1
In late February, Red Sky announced that Santos Limited (ASX:STO), operator of the Innamincka Dome project, confirmed that the fracture stimulation of the Yarrow 1 well was scheduled to commence imminently. (Refer ASX Announcement 28 February 2025.) By the following week, the joint venture had successfully completed two hydraulic fracturing (frac) stages, injecting fluid and proppant into the Patchawarra and Tirrawarra formations to enhance gas flow. (Refer ASX Announcement 6 March 2025.)

Following the successful execution of two hydraulic fracturing (frac) stages in the Patchawarra and Tirrawarra formations, the well underwent flowback, a process in which the fluid used in fracturing is recovered along with initial gas production.

Initial flowback results indicated an early production rate of approximately 0.6 MMscf/d of gas and 300 barrels of drilling fluid and formation water per day at a flowing wellhead pressure of 80 psig on a 48/64” choke. Production rates varied as the well stabilised.

Flowback operations were concluded in March, with the well reaching a final gas rate of ~1.8 MMscf/d and ~87 bwpd at 467 psig FWHP on a 32/64” choke, with fluid recovery at ~56%. The joint venture has been closely monitoring flowback performance to ensure efficient clean-up while optimising gas production.

With flowback successfully completed, the remaining post-frac workover tasks commenced, including setting the E-Line packer tailpipe BHA and running a new 2-3/8” tubing completion to optimise well performance.

The completion of Yarrow 1 and the construction of the flowline connection, which will allow gas to be transported from the well to processing facilities, has been delayed due to torrential flooding.

The flowline build is expected to commence in late October Q4 2025, with first gas targeted shortly thereafter for November Q4 2025, subject to resource scheduling and final approvals.

Red Sky will provide further updates as operations progress, with the next scheduled update expected upon confirmation of flowline construction commencement.

3D SEISMIC INTERPRETATION
In December 2023, in partnership with Santos, Red Sky successfully completed a 3D seismic acquisition program at the Innamincka Dome, specifically covering areas in PRL14 and PRL17. This seismic acquisition is vital for Red Sky as it provides the necessary data to make informed decisions on where to drill the new development wells.

It also offers further drilling opportunities, potentially increasing drilling operations' efficiency and success rate.

The joint venture with Santos was cost-effective, leading to a shared benefit from the seismic data, which will enhance understanding of the subsurface structures crucial for well placement and exploration. The focus has now shifted to the processing and interpretation of the acquired seismic data.

The operator has rescheduled the seismic data interpretation, now expected to be completed by the fourth quarter of 2025, with new development wells and an exploration well anticipated in 2026. Red Sky holds a 20% working interest in six PRLs (14, 17, 18, 180, 181, 182) at the Innamincka Dome.

In September, Red Sky advised that construction commenced at the KN2 well pad, part of the Company’s Killanoola Oil Project, located in PRL-13 in South Australia’s Penola Trough. (Refer ASX Announcement 11 September 2025.) The commencement followed approval granted by the South Australian Department for Energy and Mining (DEM), which cleared the way for the construction of the 80m x 70m KN2 well pad located ~290 metres from the existing DW1 pad. (Refer ASX Announcement 8 September 2025.)

Site equipment was mobilised, with initial activities focused on the removal and stockpiling of topsoil, completed within two days. Cultural monitoring was in attendance, ensuring compliance with heritage and environmental protocols. Following the topsoil stage, earthworks involving cut and fill and compaction of the site base and subsequent installation of a cellar were completed and the rig and ancillary equipment have been mobilised to site and water bore monitoring and conductor installation successfully completed. (Refer ASX Announcement 20 October 2025 and ASX Announcement 22 October 2025.)

Red Sky achieved a key operational milestone with approval from DEM to commence drilling of the KN2 well.

(Refer ASX Announcement 23 October 2025.) Following receipt of approval on 22 October, Condor Energy began mobilising the remaining third-party services to site. Drilling at Killanoola commenced with KN2 spudded on 24 October 2025. (Refer to ASX Announcement 27 October 2025.) Condor Rig 01 spudded the well following completion of all pre-spud safety and readiness activities. Drilling of the 12-1/4” surface hole to approximately 365m MD was completed, and the surface casing was installed and cemented in place. Current operations are focused on preparing the BOP equipment and changing out the bottom hole assembly to drill ahead the 8-1/2” production hole to approximately 1050m MD.

Commencement of drilling at KN2 represents a key milestone in the advancement of the Killanoola Oil Project, marking the transition from planning to execution. Operations led by Condor Energy are proceeding efficiently, positioning the project to deliver further milestones as Red Sky progresses toward near-term production and cash flow generation.

In May, Red Sky announced that it had executed a binding Farm In Agreement with Condor Energy Services Limited, Chawla Group Pty Ltd and VB Energy Pty Ltd (together, the Farminees) to fund and advance drilling of the KN2 well at the Company’s Killanoola Oil Project in South Australia. (Refer ASX Announcement 29 May 2025.)

Under the Agreement, the Farminees will collectively fund 75% of the drilling and completion (or abandonment) costs of the KN2 well. In return, they will earn a 45% undivided interest in the KN2 Well. Red Sky retains a 55% interest in the well and a 100% of the rest of the licence and will remain as Operator.

The well is designed as a vertical well targeting a structural high position identified in Red Sky’s proprietary 3D seismic survey. This location offers the potential to access a materially larger portion of the petroleum initially in place. The Farminees’ interest will convert to a working interest in the KN2 well upon completion of the drilling program and Ministerial approval of the assignment. The Farmin Agreement is binding, subject only to standard regulatory approvals, including Ministerial consent.

Condor Energy Services will also have a right of first refusal to provide wellsite services across the broader PRL 13 licence area for a period of 24 months.

The Farmin Agreement also provides for the formation of an unincorporated joint venture and the execution of a Joint Operating Agreement (JOA) on standard industry terms over the KN2 well.

About Killanoola and KN2
The Killanoola Oil Project is located within PRL 13 in South Australia’s Penola Trough (refer Figure 2). Red Sky’s 3D seismic program, completed in 2023, resulted in a 46% uplift in the field’s Best Estimate Petroleum Initially In Place (PIIP), increasing to 135.5 million barrels. KN2 targets a previously undrilled structural high identified from this new data. (Refer Appendix 3 and ASX Announcement 21 April 2023.)

Killanoola has a conditional offtake agreement with Viva Energy Australia Limited (ASX: VEA) and is in discussions with Santos Limited (ASX:STO) (operator of the SACB JV) regarding alternative offtake and processing at the Port Bonython facility.

Refer to Appendix 3 for a Summary of discovered Petroleum Initially In Place (PIIP) of the PRL-13 Killanoola Oil Field (100%).

Forward Plan

• Spud the KN2 well
• Mobilise a workover rig to complete KN2 and workover DW1
• Advance conditional offtake discussions with Santos for processing and sales options.

Red Sky sees Killanoola as a near-term catalyst for added shareholder value, with operations designed to drive production growth, optimise capital efficiency, and accelerate cash generation.

BLOCK 6/24, ANGOLA
Red Sky Managing Director Andrew Knox attended a formal signing ceremony in Angola in September to complete the Risk Service Contract (RSC) for Block 6/24, following recent parliamentary ratification. (Refer ASX Announcement 4 September 2025.)

This marks a key milestone in Red Sky’s expansion into Angola and underscores the Company’s commitment to building long-term partnerships in one of Africa’s most prospective offshore basins.

The RSC was initially executed on 31 December 2024 between Red Sky Energy (35%), Sonangol E&P (operator, 50%), and ACREP (15%), following direct negotiations with the Angolan National Agency for Oil, Gas, and Biofuels (ANPG).

Block 6/24, located just 12 kilometres offshore in Angola’s Kwanza Basin, includes the Cegonha oil field, which has been independently assessed by PetroAus and carries a Net 2C Contingent Resource of 5.1 million barrels (MMbbl). Three additional prospects - IBIS, D2, and B2 - contribute a further 11.0 MMbbl in Net 2U Prospective Resources to Red Sky’s portfolio. Early seismic studies have also revealed potential pre-salt structures under the Ibis prospect. (Refer to Appendix 3 for Maiden resource estimates completed for Block 6/24, offshore Angola.)

Next Steps
• The formal agreement signing allows the joint venture to move into the execution phase, including:
• Finalisation of the Joint Venture Operating Agreement (JVOA)
• Commencement of Geological and Geophysical (G&G) studies
• Preparation for seismic reprocessing and potential drilling

Block 6/24 Ownership and Location
Sonangol E&P is the operator of the Block, with a 50% participating interest. Red Sky Energy holds a 35% participating interest, and ACREP has a 15% interest. Block 6/24 is located 12 kilometres offshore, in water depths ranging from 70 to 80 metres. The Block is covered by seismic data and has shown significant oil discovery potential.

OUTLOOK
Innamincka Projects – Red Sky anticipates steady cash flows from Yarrow 3 through 2025, underpinned by its bilateral gas sales agreement with Origin Energy, with additional revenue expected from the operator’s sale of associated condensate, LPG, and ethane. At Yarrow 1, flowline construction due to flooding in the area will now not commence until Q4 2025 and first gas targeted soon after, again in Q4 2025, subject to scheduling. The Yarrow 1 re-entry is expected to significantly enhance Red Sky’s cash flow in 2026 and strengthen long-term value creation from its Innamincka portfolio.

The 3D seismic interpretation for Yarrow 3 is expected to be finalised in Q4 2025, with additional development wells anticipated to commence drilling during 2026.

Killanoola Oil Projects – Red Sky’s immediate focus at Killanoola is on completing the KN2 well, with construction of the well pad, water monitoring and conductor now completed, the well is scheduled to be spud shortly. The drilling rig is being mobilised to drill KN2. The decision has been taken to complete both the KN2 well and the DW1 well using a separate workover rig, a sequence designed to derisk the programme. In parallel, conditional offtake discussions with Santos are progressing, providing a pathway for processing and sales once production is established. These steps position Killanoola to contribute meaningful cash flow in the near term and strengthen the Company’s onshore oil portfolio.

Block 6/24, Offshore Angola - With the formal signing of the Risk Service Contract now complete, the joint venture will progress into the execution phase. Immediate priorities include finalising the Joint Venture Operating Agreement (JVOA) and initiating Geological and Geophysical (G&G) studies to refine subsurface understanding. Preparations are also underway for seismic reprocessing, which will guide planning for potential drilling. These activities represent the first steps in unlocking the significant resource potential of Block 6/24 and advancing Red Sky’s international growth strategy.

CORPORATE
The Company has cash reserves as at 30 September 2025 of $1.8m.
The Board has resolved that should their performance rights vest these will be escrowed for three months.

Related party disclosure
In line with its obligations under ASX Listing Rule 5.3.5, Red Sky Energy Limited notes that the only payments to related parties of the Company, as advised in the Appendix 5B for the period ended 30 September 2025, pertain to payments to directors for fees, salary and superannuation.

Released with the authority of the board.