3D Energi Limited (锟�3D Energi锟�, 锟絋DO锟� or 锟絫he Company锟�) refers to its ASX announcements titled 锟紺ompany
Update锟� dated 27 January 2026, 锟紽urther Company Update锟� dated 9 February 2026 and "Second Default
Notice Received" dated 10 February 2026, pertaining to the Otway Phase 1 Drilling Program in the VIC/P79
exploration permit where the Company has a 20% participating interest.
The Company advises that further to its previous announcements in relation to default notices received
under the Joint Operating Agreement, the Company has received a buy-out notice from ConocoPhillips SH2
Pty Ltd to commence the process for ConocoPhillips SH2 Pty Ltd to purchase the Company's participating
interest in VIC/P79 for fair market value. The buy-out process under the Joint Operating Agreement provides
a period for the parties to agree a fair market value for the Company's participating interest or, if agreement
is not reached, obtain an expert valuation. Once the parties have agreed, or the expert has determined, the
fair market value, ConocoPhillips SH2 Pty Ltd may exercise its buy-out right within a 30-day period. If
ConocoPhillips SH2 Pty Ltd does not exercise its buy-out right in that period, ConocoPhillips SH2 Pty Ltd and
Korea National Oil Corporation may rely on their other default remedies available against the Company,
including a potential dilution of the Company's participating interest.
The Company is continuing to obtain advice on the validity of the default notices and the buy-out notice
received.
The Company will provide an update to the market in accordance with its continuous disclosure obligations
as and when it is able to do so.
This announcement is authorised for release by the Board of Directors of 3D Energi Limited.