BOTALA ENERGY : GENERAL MEETING, JUNE 2024

EMPOWERING

PROGRESS

Botala Energy Ltd

General Meeting, June 2024

CEO Kris Martinick

Disclaimer

This d o cu me nt contains a summary o f information about Botala Energy Ltd (ACN 626 751 620) (Botala Energy or Company) and its activities that is current as at the date o f this document.

Not a disclosure document

The information in this d o cu me nt is general in nature and does not purport to be complete or to contain all the information which a prospective investor may require in evaluating a possible investment in Botala Energy and is not a prospectus or disclosure document for the purpose of Chapter 6D of the Corporations Act 2001 (Cth) (Corporations Act) and has not been lodged with the Australian Securities and Investments Commission. This document has been authorised for release by the Board of Botala Energy. This document does not constitute or form part of any invitation, offer for sale or subscription, or any solicitation for any offer to buy or subscribe for any securities.

No liability

The information contained in this document has been prepared in good faith by Botala Energy, however no guarantee representation or warranty expressed or implied is or will be made by any person (including Botala Energy and its affiliates and their directors, officers, employees, associates, advisers and agents) as to the accuracy, reliability, correctness, completeness or adequacy of any statements, estimates, options, conclusions or other information contained in this document.

To the maximum extent permitted by law, Botala Energy and its affiliates and their directors, officers, employees, associates, advisers and agents each expressly disclaims any and all liability, including, without limitation, any liability arising out of fault or negligence, for any loss arising from the use of or reliance on information contained in this document including representations or warranties or in relation to the accuracy or completeness of the information, statements, opinions, forecasts, reports or other matters, express or implied, contained in, arising out of or derived from, or for omissions from, this document including, without limitation, any financial information, any estimates or projections and any other financial information derived therefrom.

Statements in this document are made only as of the date of this document unless otherwise stated and the information in this document remains subject to change without notice. No responsibility or liability is assumed by Botala Energy or any of its affiliates for updating any information in this document or to inform any recipient of any new or more accurate information or any errors or mis-descriptions of which Botala Energy and any of its affiliates or advisers may become aware.

Oil and Gas Reporting

The information in this document that relates to petroleum or gas reserves, contingent resources or prospective resources for the projects in which Botala Energy has acquired tenure over was released in the Company's prospectus lodged with ASIC on 16 May 2022 in respect of its initial public offer of shares on ASX. Botala Energy confirms that it is not aware of any new information or data that materially affects the information in this document.

Nature of Petroleum (Gas) Exploration Risks

This document does not purport to be all-inclusive or to contain all the information that you or any other party may require to evaluate the prospects of Botala Energy. The licences of Botala Energy as described in this document are at various stages of exploration, and potential investors should understand that petroleum exploration and development are high-risk undertakings. There can be no assurance the exploration and development of the licences, or any other licences that

may be acquired in the future, will result in the discovery of an economic resource. Even if an apparently viable deposit is identified, there is no guarantee that it can be economically exploited.

Forward looking statements

Certain information in this document refers to the intentions of Botala Energy, but these are not intended to be forecasts, forward looking statements or statements about the future matters for the purposes of the Corporations Act or any other applicable law. The occurrence of the events in the future are subject to risk, uncertainties and other actions that may cause Botala Energy's actual results, performance or achievements to differ from those referred to in this document. Accordingly, Botala Energy and its affiliates and their directors, officers, employees and agents do not give any assurance, or guarantee, representation or warranty that the occurrence of these events referred to in the document will actually occur as contemplated, or at all, and nothing in this presentation should be relied upon as a promise or representation, as to the future condition of the Company's business, projects and operations.

Statements contained in this document, including but not limited to those regarding the possible or assumed future costs, performance, dividends, returns, revenue, exchange rates, potential growth of Botala Energy, industry growth or other projections and any estimated company earnings are or may be forward looking statements. Forward-looking statements can generally be identified by the use of words such as 'project', 'foresee', 'plan', 'expect', 'aim', 'intend', 'anticipate', 'believe', 'estimate', 'may', 'should', 'will' or similar expressions. These statements relate to future events

and expectations and as such involve known and unknown risks and significant uncertainties, many of which are outside the control of Botala Energy. Actual results, performance, actions and developments of Botala Energy may differ materially from those expressed or implied by any forward-looking statements in this document. Recipients must make their own assessment about the likelihood of a matter, about which a forward-looking statement is made, occurring.

Such forward-looking statements speak only as of the date of this document. There can be no assurance that actual outcomes will not differ materially from these statements. To the maximum extent permitted by law, Botala Energy and each of its affiliates and their respective directors, officers, employees, agents, associates and advisers:

• Do not make any representation or warranty, express or implied, as to the accuracy, reliability
  or completeness of the information in this document, or likelihood of fulfilment of any forward- looking statement or any event or results expressed or implied in any forward-looking statement;
• Disclaim all responsibility and liability for these forward-looking statements (including, without limitation, liability for negligence); and.
• Except as required by law or regulation (including the ASX Listing Rules), do not assume any obligation to provide any additional or updated information whether as a result of a change in expectations or assumptions, new information, future events or results or otherwise.

Reliance on presentation

A recipient of this presentation must make their own assessment of the matters contained herein and rely on their own investigations and judgement in making an investment in the Company. This presentation does not purport to contain all of the information a recipient of this presentation requires to make an informed decision whether to invest in the Company. Specifically, this presentation does not purport to contain all the information that investors and their professional advisers would reasonably require to make an informed assessment of the Company's assets and liabilities, financial position and performance, profits, losses and prospects.

Not a recommendation or financial product advice

This document does not constitute financial product advice or take into account your investment objectives, taxation situation, financial situation or needs.This document consists purely of factual information and does not involve or imply a recommendation of a statement of opinion in respect of whether to buy, sell or hold a financial product. Any person who intends to subscribe for securities must conduct their own investigations, assessment and analysis of the Company and its operations and prospects and must base their investment decision solely on those investigations and that assessment and analysis.

An investment in Botala Energy is considered to be speculative in nature. Before making any investment decision in connection with any acquisition of securities, investors should consult their own legal, tax and/or financial advisers in relation to the information in, and action taken on the basis of, this document.

No other material authorised

Botala Energy has not authorised any person to give any information or make any representation in connection with any proposed offer of securities. A prospectus investor cannot rely upon any information or representations not contained in this document.

Information in this document is confidential

This document and the information contained within it are strictly confidential and are intended for the exclusive benefit of the persons to whom it is given. It may not be reproduced, disseminated, quoted or referred to, in whole or in part, without the express consent of Botala Energy. By receiving this document, you agree to keep the information confidential, not to disclose any of the information contained in this document to any other person and not to copy, use, publish, record or reproduce the information in this document without the prior written consent of Botala Energy, which may be withheld in its absolute discretion.

Acceptance

By attending an investor presentation or briefing, or accepting, accessing or reviewing this document you acknowledge and agree to the "Disclaimer" as detailed above.

Reporting Notes

Prospective Resources Cautionary Statement

For prospective resources, the 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. See slide 5.

Prospective Resources Reporting Notes

1. The prospective resources information in this document is effective as of the date of the Prospectus (Listing Rules (LR) 5.25.1).
2. The prospective resources information in this document has been estimated and is classified in accordance with SPE-PRMS (Society of Petroleum Engineers Petroleum Resources Management System) (LR 5.25.2).
3. The prospective resources information in this document is reported according to the Company's economic interest in each of the resources and net of royalties (LR 5.25.5).
4. The prospective resources information in this document has been estimated and prepared using the deterministic method (LR 5.25.6).
5. This document does not include estimates of petroleum reserves, contingent resources and/or prospective resources in units of equivalency between oil and gas (LR 5.25.7).
6. This document does not include estimates of petroleum reserves (LR 5.26.5).
7. Prospective resources are reported on a low, best and high estimate basis (LR 5.28.1). See slide 5.
8. For prospective resources, the estimated quantities of petroleum that may potentially be recovered by the application of future development projects relate to undiscovered accumulations. These estimates have both an associated risk of discovery and a risk of development. Further appraisal and evaluation is required to determine the existence of a significant quantity of potentially moveable hydrocarbons (LR 5.28.2).
9. In respect to the contingent and prospective resources referred to in this document, Botala's working interest is 100% as at the date of this document.
10. The contingent and prospective resources and the methodology for their estimation is set out in the Prospectus.
11. Botala deems the chance of discovery of methane in the target coals to be excellent with a probably of greater than 90% (LR 5.35.3).
12. Prospective resources are un-risked and have not been adjusted for an associated chance of discovery and a chance of development (LR 5.35.4).

The 2026 Gas Cliff - Southern Africa Energy Crisis

Sasol's Announcement: Ceasing gas supply by June 2026 due to depleted Mozambican gas fields (Pande and Temane).

*Electricity Demand: 3400 PJ of gas and 100GW

of new capacity needed by 2030 Gas

(Source*IEA African Energy Outlook 2022)

Botala Energy's Competitive

Advantage

1. 100% Ownership of Serowe Coal Bed Methane (CBM) Project: Acquired remaining 30% from Pure Hydrogen to streamline operations and planning.
2. Project Robustness: technical and commercial viability:
3. • Resources: 8.1 Tcf Prospective Resource and 317 Bcf Contingent Resource certified by Sproule.
   • Infrastructure: Strategic location near existing infrastructure for rapid development.
   • Desorption Testing: Ongoing tests exceeding expectations with promising sustainable gas flow rates expected by Q3/2024.
4. Strategic Partnerships: Advanced discussions with large local partners to fast-track development and meet market demand.

Evolution of CBM Gas in Botswana

Discovery - First discovered early 2000s.

Initially, emulate Queensland, Australia, by exporting gas via pipelines for LNG trains to Asia.

Challenges - Botswana's landlocked position made large-scale export to Asia impractical. Presence of local market was not appreciated because of coal

Current Market Readiness - Today, Botswana is politically stable and considered land-linked, with a high demand for energy in the region.

Serowe Energy Hub	Leupane Energy Hub
Phase 1. 250MW Gas
10MW Gas
500MW Solar
10MW Solar
Orapa 90MW Gas
Power Station
		Francistown
Project Area
420,000 Hectares
100% BTE Owned

Strategic Advantage - Botala is now	Infrastructure Key
positioned to meet this demand with its
Rail
Serowe CBM Project, leveraging local
and regional infrastructure.	Prospecting Licence
	Power Line
	Scale 50km

Gaborone

Johannesburg

S3-4 Cores Serowe Coal

Vitrinite From 361m

Calcite filled fractures with cleats and bedding planes

Slightly less bright corresponds to wireline with lower resistivity compered to more cleated and vitreous sections of core above and below.

Cleaty Vitrinite 359m

Calcite filled veins along planes within a vitreous coal with bands of cleated vitrinite

7

Gas Field Technical Update

• Desorption testing from coal seam cores
• • Determine the amount of gas produced from a sample section and used to extrapolate the amount of gas over a wider area.
  • Stage 1 - Lost gas (Called Q1): Predict gas amount which may have been lost in the process of drilling and handling.
  • Stage 2 - Desorpable gas (called Q2): Measuring gas pressures daily over a 4-month period.
  • Stage 3 - Crushed gas (called Q3): Core samples sent to a lab are crushed
  • The total gas content (QT) the sum of Q1, Q2, and Q3.
• Conservatively (QT) 2.4 cubic centremeter per gram (cc/g) used in current independent certification.
• • The current testing of is between 2.4-2.9 cc/g and still climbing
  • Exceeding the target would indicate more gas resources possible in the area.
  • Data is in line with the low-cost NMR testing used on the exploration wells.

Project Development Plans - Gas and Solar at Serowe

Gas Development	Solar Development
	Project Pitse	Project Phuthi
Phase 1 (Current)	Phase 2	1Phase 2	2Phase 3
~250MW Solar
Pilot Well	Upstream Processing & ~1-2MW	4MW Solar Pilot
Programme	Gas Power	Pilot

Know	Know
How	How

1Botala has been conducting studies into the development of renewable technologies complimentary to gas with a view to reducing operating expenses and emissions

2Study work has looked at scales of economy which would improve the value add of renewables to a larger gas project.

3Botala would need to raise additional funds for development of the field. The Company is currently evaluating future capital raising opportunities to support future work programmes (the pricing and quantum of which is yet to be determined).

20MW Grid Connected

Commercial Pilot3

10MW 10MW

GasSolar

• Affordable and reliable energy
• Reduced emissions
• Energy Security
• Market Demand

Project Pitse: Pathway to First Revenue
Technical	Mining	Market	1st Revenue
Licence

✓	Cores	✓ EIA	•	1LNG plant - Regional Markets
✓	Coal volumes	✓ Fin model	•	2CBM Power Allocation
✓	Gas content	✓ Feasibility	• Solar to Botswana Power Corporation
•	Gas rates	✓ ML application	• Hydrogen & Graphene - Early-Stage R&D
•	Certification	submitted	• Gas Sales Agreement within Botswana

Q3/2024	Q4/2024			2025 Onwards
Completed		Work in progress			Not yet commenced

1. Botala has completed pre-feasibility work on an LNG concept which has the potential to distribute LNG via trucks from the field, the decision to proceed is based on further engineering work and commercial negotiations.
2. Botala has applied for an allocation within the Botswana Integrated Resource Plan (IRP); the IRP outlines a roadmap of the Botswana based power generation resources for the next 20 years.

The Company is currently evaluating future capital raising opportunities to support future work programs (the pricing and quantum of which is yet to be determined).The above timeline is indicative only and subject to change without notice