CENTRAL PETROLEUM LIMITED — Board/Management Information 2021

Jun 29, 2021

ASX ANNOUNCEMENT AND ASX CODE: CTP MEDIA RELEASE

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30 June 2021

Appointment of Mr Stephen Gardiner as a Non-executive Director

Central Petroleum Limited ( ASX:CTP ) (“ Central ” or “ Company ”) is pleased to announce the appointment of Mr Stephen Gardiner as a director of the Company effective 1 July 2021.

Central’s Chair, Mick McCormack said, “I am very pleased to welcome Stephen Gardiner to the Board of Central Petroleum. Stephen joins Central after 17 years in senior executive roles with Oil Search Limited ( ASX:OSH ), most recently as CFO for 8 years before stepping down from that role in March. In the CFO role Stephen was responsible for Oil Search’s finance, tax, treasury, audit and risk and investor relations functions. Prior to Oil Search, Stephen had a twenty-year career in corporate finance at major Australian multinational companies including CSR Limited and Pioneer International Limited.

I look forward to Stephen’s contribution to the Board through his deep understanding of the oil and gas and infrastructure sectors and extensive knowledge of finance and risk. Stephen’s decision to join the Board will provide an immediate benefit to shareholders at a time when Central is focused on executing three near-term projects which have significant transformation objectives for the Company. These projects are, first, completing and executing the recently announced sale and investment transaction with New Zealand Oil and Gas Limited ( NZX:NZO; ASX:NZO ) and Cue Energy Limited ( ASX:CUE ) for the exploration and development of Central’s Amadeus Basin producing assets[1] . Second, progressing the Range Gas Project with Incitec Pivot Limited ( ASX:IPL ) towards a final investment decision ( FID ) in 2022. Third, progressing the proposed Amadeus to Moomba Gas Pipeline to FID under the MOU with Australian Gas Infrastructure Group and Macquarie Mereenie Pty Ltd[2] . Stephen’s experience will also bring to bear valuable insights in progressing Central’s other projects such as, the 100% owned Zevon prospect in EP115, the Dukas prospect with Santos ( ASX:STO ) in EP112 and the other prospects and leads in Central’s acreage,” said Mr McCormack.

1 See ASX Announcement dated 25 May 2021 titled “Central Sale Underwrites Significant Investment in the Amadeus Basin”.

2 See ASX Announcement dated 18 August 2020 titled “Amadeus To Moomba Gas Pipeline - Proposed Boost to East Coast Gas Supplies”.

Central Petroleum Limited ABN 72 083 254 308. Level 7, 369 Ann Street, Brisbane, QLD 4000, Australia GPO Box 292, Brisbane, QLD 4001, Australia

Investor & Media Enquiries Greg Bourke: +61 478 318 702 Sarah Morgan: +61 421 664 969

T: +61 (0)7 3181 3800 F: +61 (0)7 3181 3855 info@centralpetroleum.com.au www.centralpetroleum.com.au

ASX ANNOUNCEMENT AND MEDIA RELEASE – CENTRAL PETROLEUM LIMITED

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Mr Gardiner said, “I am looking forward to working with Central’s Board and Management in pursuing Central’s significant transformation objectives through its near-term projects and pursuing further growth. I am pleased to be joining the Company at a time when the Board has successfully positioned the business to execute existing projects and I will work with the Board to pursue new opportunities in the interest of all shareholders.”

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This ASX announcement was approved and authorised for release by Mick McCormack, Chair of the Company.

About Central Petroleum

Central Petroleum Limited (Central) is a well-established, and emerging ASX-listed Australian oil and gas producer (ASX: CTP). In our short history, Central has grown to become the largest onshore gas producer in the Northern Territory (NT), supplying industrial customers and senior gas distributors in NT and the wider Australian east coast market.

Central is positioned to become a significant domestic energy supplier, with exploration and development plans across 180,000 km² of tenements in Queensland and the Northern Territory, including some of Australia’s largest known onshore conventional gas prospects. Central has also completed an MoU with Australian Gas Infrastructure Group (AGIG) to progress the proposed Amadeus to Moomba Gas Pipeline to a Final Investment Decision.

We are also seeking to develop the Range gas project, a new gas field located among proven CSG fields in the Surat Basin, Queensland with 135 PJ (net to Central) of development-pending 2C contingent resource.

General Legal Disclaimer and Explanation of Terms:

This document is for information purposes only and is not investment or financial product advice nor intended for prospective investors and does not purport to provide all of the information an interested party may require in order to investigate the affairs of Central Petroleum Limited (“Company”). This document has been prepared without taking into account the investment objectives, financial situation or particular needs of any particular person. The data, information, opinions and conclusions (“Information”) herein are subject to change without notice.

No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness, correctness, likelihood of achievement or reasonableness of the Information contained in this document. To the maximum extent permitted by law, none of the Company or its agents, directors, officers, employees, advisors and consultants, nor any other person, accepts any liability, including, without limitation, any liability arising out of fault or negligence for any loss arising from the use of the Information contained in this document.

This document may contain forward-looking statements which include (but are not limited to) forecasts, prospects or returns. Forward looking statements are only predictions and are subject to risks, uncertainties and assumptions which may be outside the control of the Company and could cause actual results to differ from these statements. These risks, uncertainties and assumptions include (but are not limited to) funding, exploration, commodity prices, currency fluctuations, economic and financial market conditions, environmental risks, legislative or fiscal developments, political risks, project delay, approvals, cost estimates and other risk factors described from time-to-time in the Company's filings with the ASX. Actual facts, matters or circumstances may be different to those expressed or implied in this document. Given these uncertainties, readers are cautioned not to place reliance on forward looking statements. Subject to any continuing obligations under applicable law and the ASX Listing Rules, the Company and its agents, directors, officers, employees, advisors and consultants, nor any other person, do not undertake any obligation to update or revise any Information or any of the forward looking statements in this document. Sentences and phrases are forward looking statements when they include any tense from present to future or similar inflection words, such as (but not limited to) "believe", "understand", "estimate", "anticipate", "plan", "predict", target”, "may", "hope", "can", "will", "should", "expect", "intend", “projects”, "is designed to", "with the intent", "potential", the negative of these words or such other variations thereon or comparable terminology or similar expressions of the future which may indicate a forward looking statement or conditional verbs such as "will", "should", "would", "may", “can” and "could" are generally forward-looking in nature and not historical facts.

No right of the Company or its subsidiaries shall be waived arising out of this document. All rights are reserved.