ADX Energy Ltd.: Activities Report

For the Quarter Ended 31 December 2025

Oil fields Zistersdorf; ADX Energy Ltd.

Wien (pta009/30.01.2026/09:43 UTC+1)

ADX Energy Ltd (ASX: ADX, "ADX" or the "Company") is pleased to provide an update on its activities for the quarter ended 31 December 2025.

*Production reduced due to multiple wells offline at the Vienna Basin Fields due to mechanical failures – well workover program in Q4 2025 and Q1 2026 to restore production.

**Excludes restricted funds secured for bonds and guarantees totalling A$ 1.3 million

Past Quarter Highlights

Austria – Vienna Basin and Upper Austria

• Well workover program commences to restore Vienna Basin Fields production.
• Operational readiness for recommencement of Welchau-1 testing in February 2026.
• Welchau technical work indicates up dip oil pool and down dip gas accumulation connected to Molln-1 well.***
• Three (3) Shallow Gas Prospects permitted for drilling - HOCH, GOLD and SHOE.
• Operational readiness for HOCH-1 spud scheduled for late March 2026.
• Purchase of Anshof Oil Production Facility with 3,000 BPD processing capacity.

***The Molln-1 discovery well tested gas condensate at 3.5 MMSCF per day

Italy – Sicily Channel

• Prospective Resources Update for Sicily Channel Permit with 619 BCF (Pmean) total aggregated mean prospective gas resource**** in which ADX has 100% interest. Refer Appendix 2 (ASX Release Dated 2.12.2025).

****Cautionary Statement: Prospective Resources are those 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.

Finance and Corporate

• Over-subscribed placement raising A$ 3.5 million.
• Preparation for dual listing on Oslo Børs

Next Quarter Activities

• Welchau-1 well testing.
• Update of Welchau-1 resource potential.
• HOCH-1 Shallow Gas Well drill site construction and drilling of the HOCH-1 well.
• Ongoing maturation of Shallow Gas Prospects, Anshof Near Field Oil prospects and Jurassic aged oil and gas plays utilising reprocessed 3D Seismic.
• Sicily Channel seismic data acquisition, revise resources and commission of Competent Persons Report.
• Ongoing preparation for dual listing on Oslo Børs' Euronext Growth market to improve liquidity and broaden shareholder base.

ADX Executive Chairman, Mr Ian Tchacos, said "Our operations team commenced a well work over program to restore production due to well down time at the Vienna Basin Fields. That work will be ongoing in the current quarter. As a result of a well work over program together with the strong recovery in both oil and gas pricing we expect a significant improvement in sales revenue in 2026.

During the quarter our Vienna based drilling operations and permitting team have prepared ADX for the recommencement of Welchau-1 testing and the drilling of the HOCH-1 shallow gas well. In addition to this immediate program during the coming quarter two additional shallow gas wells are permitted for drilling.

Our Austrian geotechnical team continue to develop our portfolio in Upper Austria including the maturation of further shallow gas prospects, Anshof near field oil targets and most importantly an improved understanding of the potential of the Welchau-1 discovery.

We are very encouraged by the recent results from incorporating Welchau-1 well drilling, sampling and logging data; Molln-1 drilling and testing data; revised mapping utilising reprocessed seismic data recalibrated after the drilling of Welchau, as well as extensive surface mapping work which has been ongoing. Our technical work assisted by industry experts indicates that there is a substantial oil pool up dip of Welchau-1 and a large down dip gas accumulation connected to the historic Molln-1 well which flowed gas condensate in the late 80's. Welchau is a complex but a material and highly prospective discovery which warrants ongoing appraisal.

We recently updated our resource potential for our Offshore Sicily permit incorporating data from nearby, analogous gas fields. The gas resource volumes are becoming very compelling given the permits location near to gas pipeline infrastructure, in shallow water and with shallow drill depths. During the past quarter our team has arranged access to an ENI data room to review and purchase additional seismic data which will in turn be incorporated into our data base during the coming quarter. Our near term goal is to issue a Third Party Resource Report to substantiate our very positive findings. The permit is attracting industry and investor attention due to its potential resource scale and location.

Your board is pleased with the support we received for the recent placement that was completed in December in relatively difficult market conditions for oil and gas. During the coming quarter we are seeing stronger market conditions for both oil and gas in Europe with the growing realisation of the unmet need for both gas and oil production in stable and supportive jurisdictions. With growth in mind, we continue to investigate and prepare for a potential dual listing on Oslo Børs' Euronext Growth market. Given the focus of the ADX' portfolio your Board believes improved trading access for European investors, enhanced visibility, improved liquidity will broaden shareholder base and support future growth opportunities. That would be a good outcome for European investors and our ASX investors.

During the coming quarter shareholders can expect Welchau testing results, an update regarding Welchau's resource potential for both oil and gas, the drilling of the first Shallow Gas Prospect in Upper Austria, further definition of our Sicily Channel portfolio and our ongoing portfolio build in Upper Austria which your Board believes will attract further farm-in capital to accelerate our drilling programs."

For more details please see the PDF file.

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Emitter:	ADX Energy Ltd. Ölzeltgasse 3/8 1030 Wien Austria
Contact Person:	Vesna Blazevic
Phone:	+43 676 6893465
E-Mail:	office@adx-energy.at
Website:	www.adx-energy.com
ISIN(s):	AU000000ADX9 (Share)
Stock Exchange(s):	Free Market in Frankfurt, Hamburg, Munich, Stuttgart, Tradegate BSX
Other Stock Exchanges:	Australian Securities Exchange (ASX), Sydney