BROOKSIDE ENERGY LIMITED — AGM Information 2021

May 20, 2021

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Annual General Meeting 21 May 2021 brookside-energy.com.au

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IMPORTANT NOTICE AND DISCLAIMER

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This presentation may include forward-looking statements. Forward-looking statements are only predictions and are subject to risks, uncertainties and assumptions, which are outside the control of Brookside Energy Limited (“Brookside Energy” or “the Company”). These risks, uncertainties and assumptions include commodity prices, currency fluctuations, economic and financial market conditions in various countries and regions, environmental risks and legislative, fiscal or regulatory developments, political risks, project delay or advancement, approvals and cost estimates. Actual values, results or events may be materially different to those expressed or implied in this presentation. Given these uncertainties, readers are cautioned not to place reliance on forward-looking statements. Any forward-looking statements in this presentation speak only at the date of issue of this presentation. Subject to any continuing obligations under applicable law and the ASX Listing Rules, Brookside Energy does not undertake any obligation to update or revise any information or any of the forward-looking statements in this presentation or any changes in events, conditions or circumstances on which any such forward looking statement is based.

This presentation does not constitute investment advice. Neither this presentation nor the information contained in it constitutes an offer, invitation, solicitation or recommendation in relation to the purchase or sale of shares in any jurisdiction. Shareholders should not rely on this presentation. This presentation does not take into account any person's particular investment objectives, financial resources or other relevant circumstances and the opinions and recommendations in this presentation are not intended to represent recommendations of particular investments to particular persons. All securities transactions involve risks, which include (among others) the risk of adverse or unanticipated market, financial or political developments.

The information set out in this presentation does not purport to be all-inclusive or to contain all the information, which its recipients may require in order to make an informed assessment of Brookside Energy. You should conduct your own investigations and perform your own analysis in order to satisfy yourself as to the accuracy and completeness of the information, statements and opinions contained in this presentation.

To the fullest extent permitted by law, the Company does not make any representation or warranty, express or implied, as to the accuracy or completeness of any information, statements, opinions, estimates, forecasts or other representations contained in this presentation. No responsibility for any errors or omissions from this presentation arising out of negligence or otherwise is accepted.

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BROOKSIDE’S THREE PILLARS

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CORPORATE OVERVIEW

Capital Structure

Market Capitalization	~A$70m
ASX: BRK (FPO’s)1.	~2,800,000,000
ASX: BRKOB2.	~1,500,000,000
Cash3.	~A$10m
Land Holdings	~3,000-acres
Prospective Resources	11,606,000 BOE

Shareholder Mix

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CORPORATE STRUCTURE AND TEAMS

Black Mesa Energy, LLC[1]

Brookside Energy Limited

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David Prentice (Managing Director)

Chris Girouard (President & COO)

Experienced resources sector executive with 15-plus years commercial E&P sector experience in the US mid-continent. Successfully grew E&P start-up Red Fork Energy to a $300m plus mkt. cap. oil and gas exploration and production company. David also serves as Chairman and CEO of Black Mesa Energy, LLC.

35-plus years in the oil & gas industry, expert in all aspects of petroleum land management. Key member of teams that started and successfully sold several oil and gas companies.

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Michael Fry (Chairman)

John Schumer (VP Reservoir Engineering)

Extensive corporate and commercial experience, financial and capital market knowledge and a background in corporate treasury management. Michael holds a Bachelor of Commerce, is a Fellow of the Financial Services Institute of Australasia, and is a past member of the Australian Stock Exchange.

20-plus years in oil and gas exploration and development. Responsibility for all aspects of reservoir engineering including development strategy, acquisitions and divestitures, reserve bookings, type curve generation, and prospect generation.

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Dr Gracjan Lambert (Executive General Manager Commercial)

Lee Francis (VP Operations)

Geophysicist with over 24 years’ comprehensive technical and commercial experience in the global oil and gas industry. Extensive international experience including technical and commercial roles at ExxonMobil in Houston, Texas involving exploration, development and production of conventional and unconventional resources. Gracjan holds a PhD in Geophysics.

40-plus years engineering and management experience in upstream and mid-stream operations. Responsible for all drilling, production and infrastructure projects. Lee has worked with the founding members of Black Mesa for over 20 years and is a registered professional engineer in the State of Oklahoma.

Richard Homsany (Non-Exec.

The Board and Executives of Brookside and Black Mesa have decades of industry experience and a proven track record for generating significant value for shareholders and investors through the disciplined application of proven low-risk high-return business models

Director)

Experienced corporate lawyer and CPA with significant experience in the resources and energy sectors, including serving on the Boards of several ASX and TSX and TSX-V listed companies.

1Black Mesa Energy, LLC is a controlled subsidiary of Brookside. Collectively, the Black Mesa team have over 200 years of commercial, technical and operational experience having drilled over 1,000 vertical wells and almost 200 horizontal wells on-shore in the United States.

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FOCUSED ON THE ANADARKO BASIN

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SCOOP & STACK Plays, Anadarko Basin, Oklahoma

Proven Oil & Gas Plays in a world-class basin

Rates of return competitive with the very best shale plays in North America

Highly sought-after Sycamore-Woodford trend in southern SCOOP Play (Brookside’s SWISH AOI) has become a significant focus for several of the tier-one NYSE listed independent E&P companies

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Anadarko Basin

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EXPLOITATION NOT EXPLORATION

Productivity of Target Reservoirs Defined by Decades of Development

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1 Initial phase of vertical development 2 Infill phase of vertical development 3 Open-Hole horizontals on flanks of anticline, no stimulation 4 Current exploitation phase incorporating horizontal drilling along with modern multistage stimulation in select undrained units

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INITIAL DEVELOPMENT - JEWELL DSU

Type Curve - Jewell 13-12-1S 3W SXH1 Well (Base Case)

Asset	Jewell 1-13-12 SXH
Product	Oil and Gas
Well Type	Horizontal Multi-Stage Completion
Lateral length	7,400 feet
Basin	Anadarko
Play & Location	SCOOP Play, Carter County, Oklahoma
Operator	Black Mesa Energy, LLC
Working Interest	~85%
Reservoir	Sycamore
Est. IP24	1,300 BOE (62% oil / 38% gas)
Est. 12-month cum.	324 MBOE
ROR	82%
Payout	14 months at current strip pricing
Gasquality	Richgas, NGLspriced at 40% WTI

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“Upside Case” 1,800Mboe for the Jewell well (based on Darcy permeability observed in an historical offsetting well with an open hole completion) delivers a ROR of 112% and the well pays out in approximately 12-months

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JEWELL WELL OVERVIEW

Surface operations

H u nsucker 11-1 Well 1 1-1S-3W Carter Co. AP I: 35019219380000

Hunsucker 11-1

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Surface casing cemented in wellbore

~7800 ft

Multistage stimulation

Hunsucker 11-1: Core imagery shows a highly fractured target Sycamore interval

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Kick off point
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TIMELINE & NEWS FLOW

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Flames 1 Rangers 1

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PROVEN BY NEIGHBOURING PRODUCTION

Significant Activity with Results Exceeding Expectations

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OPERATED POSITION - CORE OF SOUTHERN SCOOP

Highly Sought-After Sycamore-Woodford Trend

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• Control and operations on three DSU’s (Jewell, Flames and Rangers)

• Jewell DSU – 880 acres, Sycamore & Woodford Unit

• Jewell 13-12-1S 3W SXH1 well – the first operated well to be drilled in the SWISH AOI will establish six proved undeveloped locations in this single DSU

• 5-year, 20+ well inventory of development and infill drilling

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Jewell
Well
Horizontal Well Bore
Multi-stage Completion
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SWISH AOI PROSPECTIVE RESOURCE

Confirms Very High Potential of Anadarko Basin Acreage

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• 11,606,000 net barrels of oil equivalent (BOE) Prospective Resource attributable to Brookside’s SWISH AOI in the southern part of the SCOOP Play (refer to ASX release of 17 November 2020 for further details)

• Initial Prospective Resource confirms the very high potential of this highly sought-after area that has attracted the attention of several of the large very successful tier-one operators

• The Prospective Resource covers Brookside’s Jewell, Flames and Rangers drilling spacing units (DSUs) and includes the highly anticipated Jewell Well which is targeting the Sycamore formation

• The Sycamore formation is delivering outstanding sustained productivity in offsetting wells

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PRODUCING PROPERTY ACQUISITIONS

Orion Project Joint Venture

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• Partners fund costs associated with the Joint Venture (acquisition and workover costs) on a 50/50 basis

• Acquiring producing properties and associated HBP acreage

• Focus on Natural Gas weighted mature production from vertical wells with very low terminal declines and substantial (several decades) remaining economic life

• Cash flow positive at current Forward Strip pricing with opportunity for material production increases from remedial workover activity

• Upside from unexploited or underexploited behind pipe or deeper productive zones

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• Black Mesa to operate the Joint Venture

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LAND AND LEASING

Low-risk, High-return and Scalable

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Acquire	Upgrade	Re-value	Monetize	Re-invest
Identify an opportunity, start with the quality of the oil and gas reservoir/s	Consolidate acreage to build a core high-grade operated position	Secondary market transactions establish early acreage values	Sell upgraded and revalued acreage position (whole or in part)	Use sale proceeds to scale-up into a larger acreage position
Acquire acreage directly from mineral owners and legacy operators	Monitor and analyze production results from offsetting wells	Initial production rates plus sustained production volumes equals higher forecast recovered volumes, strong rates of return, short pay-out periods and ultimately higher per-acre values	Harvest cashflow from de-risked proved but undeveloped locations	Return capital to shareholders (Share Buy-Back etc.)
Trading and high-grading	Complete our own initial drilling within our acreage (use Drill Co. Or JV to fund this)	Third party reserve report establishes per-acre Net Present Value

Investors can rely on us to build value in the asset base (acreage value and cash flow) and use this as a platform for growth. We don’t bet on the outcome of a single well or speculate with a large acreage position in a high-risk area where the reservoir quality cannot be evaluated from the available data and doesn’t support suitable rates of return in the current pricing environment.

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ASX:BRK

Suite 9, 330 Churchill Avenue Subiaco WA 6008 p: +61 8 6489 1600 w: brookside-energy.com.au

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David Prentice Managing Director david@brookside-energy.com.au https://www.linkedin.com/in/david-prentice-a3324b22

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