Announcement PDF ASX ANNOUNCEMENT 14 November 2023 INVESTOR PRESENTATION-RESOURCES RISING STARS Greenvale Energy Ltd (ASX: GRV) (‘GRV’, ‘Greenvale’ or ‘the Company’) is pleased to advise that Director and Chief Executive Officer, Mark Turner, will be presenting at the Resources Rising Stars Investor Series, which is to be held at the following locations: • in Sydney, New South Wales on 14 November 2023. Mr Turner will be presenting at 11:45 AM AEDT / 8:45 AM AWST; and • in Melbourne, Victoria on 16 November 2023. Mr Turner will be presenting at 2:15 PM AEDT / 11:15 AM AWST. The presentation slides to be delivered by Mr Turner are attached to this announcement and investors will be able to livestream the presentation at no cost by accessing the following link: https://www.resourcesrisingstars.com.au/events Authorised for Release This announcement has been approved for release by Kurt Laney, Joint Company Secretary. Contact For further details, contact: Mark Turner, CEO, 0459 519 999 Media inquiries, contact: Nicholas Read, Read Corporate, 0419 929 046 Nicholas@readcorporate.com.au REGISTERED OFFICE: Level 5, Suite 6 189 Kent Street, Sydney, New South Wales 2000 | GPO Box 2733, Sydney NSW 2001 +61 2 8046 2799 | admin@greenvaleenergy.com.au | www.greenvaleenergy.com.au ABN 54 000 743 555 ASX: GRV Transformational growth in rare, high-value commodities for Australia’s future High-value bitumen and helium assets with a rapid development pathway Resource Rising Stars Summer Series, 14 & 16 November 2023 | Mark Turner, CEO 1 Important Information DISCLAIMER expressions. This document and all other information (whether in writing or otherwise) which may be made available, or part thereof does not: The forward-looking statements in this presentation are based on current expectations, estimates, forecasts and projections about Greenvale Energy and the industry in which they operate. However, please note, they do relate to future matters and thus are subject to various inherent risks and uncertainties. Actual events or results may differ materially from the events or results expressed or implied by any forward-looking statements. Contain all information that investors and their professional advisers would require to make an informed assessment of the following: a) assets and liabilities, financial position and performance, profits and losses and prospects of the Company; and b) rights and liabilities attaching to the Company's securities. Constitute, or form part of, any offer to sell or issue, or any solicitation of an offer to purchase or subscribe for any securities nor shall this document, or any part of it, or the fact of its distribution or transmission, form the basis of, or be relied on, in connection with any contract. Constitute a promise or representation as to the future. Recipients must make their own investigations and inquiries regarding all assumptions, risks, uncertainties and contingencies that may affect the future operations of the Company or the Company's securities. No representation or warranty, express or implied, is made or given by or on behalf of the Company, its directors and officers or any other person as to the accuracy, completeness or fairness of the information or opinions contained in this document and all other information (whether in writing or otherwise) which may be made available or part thereof or any further information supplied by or on behalf of the Company or in connection with the Company and no responsibility or liability is accepted for any such information or opinions. All statements in this document (other than statements of historical fact) are forward looking statements that involve risks and uncertainties. The Company can give no assurance that statements will prove accurate and results and future events could differ materially. The Company, its directors and officers or any other person: Do not accept liability for any loss or damage suffered or incurred by any investor or any other person however caused (including negligence) relating in any way to this document, including (without limitation) the information contained in it, any errors or omissions however caused, or the investor or any other person placing any reliance on this document, its accuracy, completeness, currency or reliability. Do not accept any responsible to inform the recipient or any other person of any matter arising or coming to its notice which may affect any matter referred to in this document. To the maximum extent permitted by law, expressly disclaimed and excluded any liability of the Company, its directors and officers or any other person to the recipient or to any other person arising out of this document. FORWARD-LOOKING STATEMENTS This presentation contains forward looking statements. Forward looking statements are often, but not always, identified by the use of words such as "seek", “target”, "anticipate", “forecast”, "believe", "plan", "estimate", "expect" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar The past performance of Greenvale Energy is no guarantee of future performance. None of Greenvale Energy’s Directors, Officers, Employees, Agents or Contractors makes any representation or warranty (either express or implied) as to the accuracy or likelihood of fulfilment of any forward-looking statement, or any events or results expressed or implied in any forward-looking statement, except to the extent required by law. You are cautioned place no undue reliance on any forward-looking statement. The forward-looking statements in this presentation reflect views held only as at the date of this presentation. COMPETENT PERSON STATEMENT The information in this presentation that relates to the Alpha Mineral Resource Estimate is based on information compiled by Mr. Carl D’Silva, a Competent Person who is a Member of The Australasian Institute of Mining and Metallurgy (Member number 333432). Mr. D’Silva is a full-time employee of SRK Consulting (Australasia) Pty Ltd, a group engaged by the Company in a consulting capacity. Mr D’Silva has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr D’Silva consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. The Company confirms that it is not aware of any new information or data that materially affects the information included in the Mineral Resource Estimate dated 9 March 2022 as announced to the ASX on that date and which is available at www.greenvaleenergy.com.au. The Company confirms that in relation to the Alpha Torbanite Project Mineral Resource Estimate, all material assumptions and technical parameters underpinning the estimate continue to apply and have not materially changed when referring to its resource announcement made on 9 March 2022. The information in this presentation that relates to liquefaction testing is based on information compiled by David Cavanagh, a Competent Person who is a Member of The Australasian Institute of Mining and Metallurgy AusIMM Member number 112318. David Cavanagh is a full-time employee of Core Resources. David Cavanagh has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. David Cavanagh consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. This presentation has been authorised for release by the Board of Greenvale Energy Limited. 2 GRV: Corporate Summary CAPITAL STRUCTURE 433M BOARD & MANAGEMENT 28M Shares on issue (8 Nov 2023) Performance Rights on issue (8 Nov 2023) $47.60M $5.91M Market Capitalisation (8 Nov 2023) $0.11 Share Price (8 Nov 2023) Cash & Liquid Investments (30 Sept 2023)1 44% Top 25 Shareholders Neil Biddle Non-Executive Chairman Mark Turner Executive Director Geologist with +35 years’ experience in exploration and mining. Founding Director of Pilbara Minerals, where he oversaw the acquisition, exploration and development of the world-class Pilgangoora Lithium Project. Engineer with +25 years’ experience in the energy sector and a proven track record of major project delivery in oil & gas, water, power, renewables, and nuclear projects. Elias Khouri Non-Executive Director Vince Fayad Co-Company Secretary Extensive experience in equity markets, with expertise in corporate finance, advisory, capital raisings, joint venture and farm-in negotiations. +35 years’ experience in corporate finance, international M&A, accounting and other advisory related services, with strong public company experience. Kurt Laney Chief Financial Officer & Co-Company Secretary Experienced Chartered Accountant specialising in the provision of accounting, taxation, and corporate secretarial services. 1. Liquid investments include GRV’s shareholding in Astute Metals NL (ASX:ASE), with the following shares subject to escrow: (a) 13.80 million shares which are to be released from escrow on 28 November 2023; and (b) 23.00 million shares which are to be released from escrow on 28 November 2024. 3 Greenvale Energy – Our Value Proposition HIGH-QUALITY ASSETS WITH A CLEAR DEVELOPMENT PATHWAY ALPHA TORBANITE PROJECT High-grade bituminous shale SEALED ROADS HIGH-GRADE HELIUM & HYDROGEN PROJECT Central Australia SUSTAINABLE 24/7 ENERGY QLD GEOTHERMAL PROJECT Untapped renewable energy opportunity CRITICAL COMMODITIES & GOLD HYDROGEN Projects ca pa ble of delivering high-va lue products into strongly growing ma rkets… 4 Alpha Torbanite Project UNIQUE, HIGH-VALUE PROJECT GEARED TO AUSTRALIA’S BURGEONING INFRASTRUCTURE NEEDS Rare, high-value torbanite deposit located in central Queensland, 500km west of Rockhampton • One of only two known torbanite deposits in Australia • Potential to become a key domestic source of bitumen (almost all of Australia’s supply is imported) – currently worth ~A$1,500/tonne • Development strategy based on the use of geothermal power offset to deliver carbon neutral “green” bitumen • Opportunity to replace the current use of imported heavy crude oils in the Australian bitumen market On the road to developing Australia’s only domestic source of bitumen… 5 Alpha: High-Grade, High-Value ON THE PATHWAY TO DEVELOPMENT • Updated Inferred Mineral Resource Estimate of 28Mt from the previous 18.6Mt of torbanite and cannelite. • 27.7 million barrels of synthetic oil equivalent • Ultra high-grade: 698 litres of hydrocarbons per tonne • Liquefaction test program yielding exciting results: • • 72% increase in conversion from solids to oil and gas (Test Programs 2 to 3) • Test Program 4 now in full swing at Monash University, Melbourne and Licella in NSW Updated Mineral Resource and liquefaction results to underpin Pre-Feasibility Study for project development 28Mt Inferred Resource of Torbanite & Cannel Coal 698ltrs of hydrocarbons per tonne of Torbanite 27.7M barrels of synthetic oil equivalent Refer to GRV ASX Announcement 13 Nov 2023 6 Alpha: Key Upcoming Catalysts POISED FOR A PERIOD OF INTENSIVE NEWS-FLOW • Test Program 4 Liquefaction Results to establish a definitive processing pathway • Certified product from Technix • Pre-Feasibility Study • Customer engagement High-quality partners: Technical Consultants Carrier Oil and Supercritical Water Testing Program Supercritical Water Testing Program Bituminous Product Advisor 7 An Exciting, High-Value Growth Market BITUMEN IMPORTATION FEEDS CRITICAL INFRASTRUCTURE, WITH A HEAVY RELIANCE ON CHINA Australian Bitumen Imports by Country of Origin Australian Bitumen Demand by Volume (‘000t) C170 Bitumen Price Index (A$/tn) ↑21% Increase in average monthly gate prices for C170 bitumen since Sep-21 China (ex. SARs and Taiwan) 21.4% Historical Gov’t Funded Roads Korea, Republic of (South) 19.8% Historical Total Singapore 27.4% Estimate Gov’t Funded Roads Thailand 29.8% Estimate Total Other 1.6% Outlook Gov’t Funded Roads Outlook Total Source: Department of Climate Change, Energy, the Environment and Water, Australian Petroleum Statistics SEP 2022 Source: Argus Asphalt Annual 2021 – Bitumen Demand & Government Funded Roads Australia $1,567/tonne QLD C170 closing price as at Oct-23 8 West Walker Project HIGH-GRADE HELIUM AND HYDROGEN OPPORTUNITY IN CENTRAL AUSTRALIA Farm-in agreement with Mosman Oil & Gas to acquire a 75% interest in EP145 in the Amadeus Basin • Amadeus Basin has some of the highest concentrations of helium globally, as well as confirmed hydrogen accumulations • EP145 sits within recognised play fairways for helium and hydrogen and contains proven hydrocarbon discoveries • Lies on-trend with the producing Merenie Oil & Gas Field • Successful helium wells located along the margins of the Amadeus Basin at Mt Kitty-1 and Magee-1 • Existing pipeline infrastructure to Australian East Coast provides opportunity for early commercialisation Exciting growth opportunity in helium, hydrogen and natural gas in the infrastructure-rich Amadeus Basin… 9 West Walker Project PROVEN HELIUM AND HYDROGEN POTENTIAL, CLOSE TO EAST COAST GAS MARKETS • Mosman Oil & Gas reported a Prospective Resource Estimate for EP 145 in October 2022: • “Best Estimate” of 440Bcf Total Gas, including 26.4Bcf helium and 26.4Bcf hydrogen • Dataset is very limited, with few wells drilling below the palaeozoic play – significant untested potential • High-value products – helium currently worth ~US$450/mcf • Opportunity for near-term cash-flow from natural gas production linked to existing infrastructure (North & East Coast markets) Prospective Resource “Best Estimate” 1 440 billion cubic feet of total gas 26.4 billion cubic feet of helium 26.4 billion cubic feet of hydrogen 1 Applying the SPE PRMS standard 10 West Walker Project NEXT STEPS – RAPID PATHWAY TO UNLOCK VALUE • Acquisition of 2D seismic data • Interpretation of seismic results to support planning for an initial drilling program • Drilling “sweet-spot” identified in EP145 which could test all targets – helium, hydrogen and natural gas 11 Helium: Surging Price and Fast-Growing Market A HIGH-VALUE COMMODITY WHICH IS EXPERIENCING EXPONENTIAL PRICE GROWTH Historical price of bulk liquid helium US$/thousand standard cubic feet (Mscf) Long-term contract bulk liquid helium pricing US$450/Mscf March 2023 Source: Kornbluth Consulting LLC Fragile supply and surging demand is driving significant upward momentum in the helium price. 12 Helium: Essential to A High-Technology World THE HELIUM MARKET IS GROWING RAPIDLY AS TECHNOLOGY AND ARTIFICIAL INTELLIGENCE EVOLVES Estimated Global Helium Market US$ billions Actual Forecast MRI 22% Market Share Semiconductors 19% Market Share Welding 12% Market Share Aerospace 8% Market Share Optical Fibre 3% Market Share Cryogenics 3% Market Share Demand to remain steady Demand to double in 5 years Demand to remain steady Source: The Business Research Company, Helium Global Market Report 2023. Published January 2023 The global helium market is forecast to grow from US$5 billion in 2023 to over US$8 billion by 2030. Demand to double in 10 years Demand to double in 10 years Demand to double in 10 years 13 Helium, Hydrogen, Natural Gas HIGH-VALUE COMMODITIES WITH OUTSTANDING MARKET FUNDAMENTALS Helium Natural Hydrogen (Gold Hydrogen) Natural Gas • Lowest cooling temperature of any element – invaluable for medical, manufacturing and scientific applications • Alternative, clean, carbon-free fuel • • • Annual demand expected to rise from 6.0Bcf to 8.5Bcf by 2030, fueled by rising demand in cryogenics and welding applications Requires no additional energy input from either fossil fuels or renewables • Natural Hydrogen is continuously created, constantly replenished As Australia transforms to meet Net Zero emissions, gas will continue to complement renewable energy to provide reliable and dispatchable electricity • • Periods of severe supply shortages since 2006, including rationing by suppliers • • Price for large quantities at the source increased by 11% p.a. from 2006-2022 to ~US$450/mcf in late 20221 GRV will be ideally positioned to take advantage of future hydrogen markets at its West Walker Project Australian gas prices in downstream markets averaged around $14.50/GJ for Q2 20232 1 Kornbluth, 2023 2 AER 14 Geothermal Opportunity UNTAPPED RENEWABLE ENERGY OPPORTUNITIES IN QUEENSLAND Major Government investment to deliver on renewable targets • 2023-24 State Budget committed $19B over four years to deliver more renewable energy to the Queensland SuperGrid • Queensland Energy & Jobs Plan to unlock 100,000 new industrial jobs in hydrogen, renewables, manufacturing, and critical minerals Limitless potential uses 24/7 baseload energy source Available anywhere and anytime Flexible and controllable energy Uses existing infrastructure Zero carbon emissions Technology Closed-Loop System Closed-loop geothermal well system, where fluid is circulated down the well through concentric tubes that act as a downhole heat exchanger. The fluid is fully contained and has zero interaction with below-ground formations or aquifers. “It represents the most significant investment ever in Queensland’s publicly owned electricity system and will help us power Queensland with 70% renewable energy by 2032 and 80% by 2035” Queensland Premier, Annastacia Palaszczuk 15 Key Investment Takeaways MULTIPLE VALUE-CREATION PATHWAYS A modern resources company with assets that look beyond traditional hydrocarbons.  A unique growth opportunity in rare, critical, high-value commodities  Alpha Torbanite Project advancing towards commercialisation  Ideally positioned to become Australia’s only end-to-end domestic source of bitumen for burgeoning infrastructure demand  Exciting new high-grade helium, natural gas and hydrogen growth opportunity secured in the Amadeus Basin, close to existing gas infrastructure  Demand for helium increasing with supply decreasing – price expected to continue rising and will do for the foreseeable future  Poised to capitalize on future hydrogen market opportunities as Queensland aims to be a hydrogen hub  Geothermal strategy advancing in Queensland  Experienced team with exceptional track record of value-creation for shareholders We’re targeting bitumen and helium production to help fill Australia’s overwhelming supply shortfall. 16