Related Party Transactions

3 Months Ended

Sep. 30, 2026

Related Party Transactions [Abstract]

Related Party Transactions

Note 14 – Related Party Transactions

The Group has related party transactions with Mr. Bryan Sheffield (“Mr. Sheffield”). The transactions during the

three months ended September 30, 2026 with this related party are as follows.

Mr. Sheffield

During the three months ended September 30, 2026 and 2025, the Group transacted with DWE and DWI, which are

wholly owned by Formentera Australia Fund, LP, which is managed by Formentera Partners, LP, a private equity firm of

which Mr. Sheffield serves as managing partner. Mr. Sheffield has been a shareholder in the Company since November

2021.

The Group and DWE jointly own a 50/50 joint venture referred to as TB1 and the Group and DWI jointly own a

50/50 joint venture referred to as SPCF Sub Trust (Refer Note 2).

During the three months ended September 30, 2026 and 2025, DWE’s share of expenditure for the Beetaloo Joint

Venture for which contributions were due was $34.0 million and $14.8 million, respectively. As of September 30, 2026,

the Group had a joint interest billing receivable owing from DWE in the amount of $7.8 million.

During the three months ended September 30, 2026, DWI’s share of expenditure for SPCF was less than

$0.8 million, which related to the SPCF expansion project, as SPCF Sub Trust reimbursed DWI for the contributions made

for the SPCF during the three months ended September 30, 2025. All SPCF expenditures, incurred during the three months

ended September 30, 2026, with the exception of expenditures for the SPCF expansion, were funded through long-term

debt under the Syndicated Facility. As of September 30, 2026, there were no joint interest billings owing to DWI or

receivable from DWI as the expenditure is expected to be funded by the Syndicated Facility through the end of

construction (Refer Note 6).