NEW ZEALAND OIL & GAS SIGNS NEW EAST COAST GAS SUPPLY AGREE

14 December 2022 NEW ZEALAND OIL & GAS SIGNS NEW EAST COAST GAS SUPPLY AGREEMENT o New Zealand Oil & Gas signs a new Gas Supply Agreement with South32 Cannington for supply of gas from the Mereenie field o Two-year term from 1 January 2023 for delivery of 0.38 Petajoules (PJ) of gas from New Zealand Oil & Gas into the East Coast domestic market. o Fixed price, take-or-pay contract reflects strong market conditions New Zealand Oil & Gas Limited (ASX:NZO, NZX:NZO) is pleased to announce that it has executed a new Gas Supply Agreement (GSA) with South32 Cannington Pty. Ltd. (South32) to supply 0.38 PJ of gas over two years, commencing 1 January 2023. The GSA is for firm gas supply, with take-or-pay provisions and a fixed price. Gas supplied under the GSA will be aggregated with gas from the Mereenie Joint Venture (Macquarie Mereenie (50%), Central Petroleum (25%), New Zealand Oil & Gas (17.5%) and Cue (7.5%)) to deliver up to a total of 2.19 PJs to South32 over the two-year term, commercialising a portion of existing Mereenie uncontracted gas production for the period. End CA:00404147 For:NZO Type:GENERAL Time:2022-12-15 12:06:29