Announcement PDF ACN 140 575 604 • Level 1, 5-7 King William Road, Unley, SA 5061 • +61 8 7092 6230 • info@alligatorenergy.com.au • Page 1 of 19 www.alligatorenergy.com.au 2026 CORPORATE GOVERNANCE STATEMENT This Corporate Governance Statement is current as at 30 September 2026 and was reviewed and approved by the Board of Directors. The Board has responsibility for corporate governance for Alligator Energy Limited (the Company) and its subsidiaries (the Group) and has implemented policies, procedures and systems of control with the objective of ensuring an appropriate framework for governance outcomes that meet the expectations of stakeholders. The Statement sets out the key features of the corporate governance framework that the Company has established. The Company’s corporate governance practices reflect the commitment of the Board of Directors to implement the highest standards of ethics, integrity, legal and statutory compliance. In establishing the corporate governance framework of the Company, the Board has adopted, where appropriate, practices consistent with the ASX Corporate Governance Council’s Principles and Recommendations (4th Edition). Where after consideration, the Company’s corporate governance practices depart from the recommendations, this Statement provides an explanation for the adoption of an alternative practice in compliance with the “if not, why not” reporting regime. All practices, unless otherwise stated, were in place for the entire reporting period ended 30 June 2026. Further information relating to the Company’s corporate governance practices and policies is publicly available on the Company’s website at www.alligatorenergy.com.au The table below summarises the status of the Company’s compliance with each of the recommendations contained in the ASX Corporate Governance Council’s Principles and Recommendations at the date of this Statement and provides further supporting detail in the narrative included thereafter. ACN 140 575 604 • Level 1, 5-7 King William Road, Unley, SA 5061 • +61 8 7092 6230 info@alligatorenergy.com.au • www.alligatorenergy.com.au • Page 2 of 19 ASX Corporate Governance Principle and Recommendations Status Principle 1 – Lay solid foundations for management and oversight 1.1 A listed entity should have and disclose a board charter setting out: (a) the respective roles and responsibilities of its board and management; and (b) those matters expressly reserved to the board and those delegated to management. Compliant - see Corporate Governance Charter. 1.2 A listed entity should: (a) undertake appropriate checks before appointing a director or senior executive or putting someone forward for election as a director; and (b) provide security holders with all material information in its possession relevant to a decision on whether or not to elect or re-elect a director. Compliant- appropriate checks are conducted prior to appointing a new director or senior executive. Shareholders are provided with all relevant information available to the Board which is relevant to a decision on whether to elect or re-elect a Director. 1.3 A listed entity should have a written agreement with each director and senior executive setting out the terms of their appointment. Compliant- written agreements are in place setting out the terms of appointment. 1.4 The Company Secretary of a listed entity should be accountable directly to the board, through the chair on all matters to do with the proper functioning of the board. Compliant- the Company Secretary is accountable to the Board, through the Chair, on all matters to do with proper functioning of the Board. ACN 140 575 604 • Level 1, 5-7 King William Road, Unley, SA 5061 • +61 8 7092 6230 info@alligatorenergy.com.au • www.alligatorenergy.com.au • Page 3 of 19 ASX Corporate Governance Principle and Recommendations Status 1.5 A listed entity should: (a) have and disclose a diversity policy; (b) through its board or a committee of the board set measurable objectives for achieving gender diversity in the composition of its board, senior executives and workforce generally; and (c) disclose in relation to each reporting period: (1) the measurable objectives set for that period to achieve gender diversity; (2) the entity’s progress towards achieving those objectives; and (3) either: (A) the respective proportions of men and women on the board, in senior executive positions and across the whole workforce (including how the entity has defined “senior executive” for these purposes); or (B) if the entity is a “relevant employer” under the Workplace Gender Equality Act, the entity’s most recent “Gender Equality Indicators”, as defined in and published under that Act. Non-Compliant- the Company has a Diversity Policy which documents the principles and commitment in relation to maintaining a diverse group of employees. The Company has not set measurable objectives for achieving gender diversity due to the size of the Company. At 30 June 2026 the Company employed a total of 27 employees and contractors of which 9 are female. The Company intends to establish quantifiable measures during the transition from exploration and evaluation activities to project development and operations at the Samphire Project. 1.6 A listed entity should: (a) have and disclose a process for periodically evaluating the performance of the board, its committees and individual directors; and (b) disclose for each reporting period whether a performance evaluation has been undertaken in accordance with that process during or in respect of that period. Compliant- the Company has a process for periodically evaluating the collective performance of the Board which is conducted using a self-assessment questionnaire. Any agreed actions or outcomes from the collective discussion are monitored for implementation by the Company Secretary. A board performance evaluation was conducted during FY2026. The next review is scheduled for the final quarter of FY2027. 1.7 A listed entity should: (a) have and disclose a process for evaluating the performance of its senior executives at least once every reporting period; and (b) disclose for each reporting period whether a performance evaluation has been undertaken in accordance with that process during or in respect of that period. Compliant- a formal performance evaluation for the CEO/Managing Director, Dr Andrea Marsland-Smith, against annual contractual KPIs took place in August 2026 in relation to the FY2026 performance period. Annual senior executive assessments occur in accordance with the Company’s annual performance process in August each year. Discussion and written feedback are provided by the CEO/Managing Director. ACN 140 575 604 • Level 1, 5-7 King William Road, Unley, SA 5061 • +61 8 7092 6230 info@alligatorenergy.com.au • www.alligatorenergy.com.au • Page 4 of 19 ASX Corporate Governance Principle and Recommendations Status Principle 2 – Structure the board to be effective and add value 2.1 The board of a listed entity should: (a) have a nomination committee which: (1) has at least three members, a majority of whom are independent directors; and (2) is chaired by an independent director; and disclose: (3) the charter of the committee; (4) the members of the committee; (5) as at the end of each reporting period, the number of times the committee met throughout the period and the individual attendances of the members at those meetings; or (b) if it does not have a nomination committee, disclose that fact and the processes it employs to address board succession issues and to ensure that the board has the appropriate balance of skills, knowledge, experience, independence and diversity to enable it to discharge its duties and responsibilities effectively. Compliant- the full Board, chaired by an independent director, currently carries out the function of a Nomination Committee due to the size of the Company. The Board considers the size, composition, skills, competencies and diversity required to effectively discharge its duties and responsibilities. The Board has processes in place to address board succession issues and ensure the appropriate balance of skills, knowledge, experience, independence and diversity to enable it to discharge its duties and responsibilities effectively. From time to time, the Board engages a specialist Non-Executive Director recruitment firm to identify suitable candidates based on agreed skill set and experience requirements. The Board remains mindful of the evolving skill set that will be required on completion of a successful field recovery trial and further progress towards the ultimate development decision. 2.2 A listed entity should have and disclose a board skills matrix setting out the mix of skills that the board currently has or is looking to achieve in its membership. Compliant- the Board has reviewed its composition and assessed a matrix of skills considering its current operations and requirements. See Appendix 1 for the summary. 2.3 A listed entity should disclose: (a) the names of the directors considered by the board to be independent directors; (b) if a director has an interest, position or relationship of the type described in Box 2.3 - “Factors relevant to assessing the independence of a director” but the board is of the opinion that it does not compromise the independence of the director, the nature of the interest, position or relationship in question and an explanation of why the board is of that opinion; and (c) the length of service of each director. Compliant- further detail provided in this Corporate Governance Statement. 2.4 A majority of the board of a listed entity should be independent directors. Compliant- at the date of this report the Board is comprised of five directors, three of whom are regarded as independent. ACN 140 575 604 • Level 1, 5-7 King William Road, Unley, SA 5061 • +61 8 7092 6230 info@alligatorenergy.com.au • www.alligatorenergy.com.au • Page 5 of 19 ASX Corporate Governance Principle and Recommendations Status 2.5 The Chair of the Board of a listed entity should be an independent director and should not be the same person as the CEO of the entity. Compliant- the Chair is an independent Non- Executive Director 2.6 A listed entity should have a program for inducting new directors and for periodically reviewing whether there is a need for existing directors to undertake professional development to maintain the skills and knowledge needed to perform their role as directors effectively. Compliant- the Company has an established program for inducting a new director. This covers all aspects of the Company’s activities and policies. The Company encourages directors to actively participate in continuing professional development relevant to their qualifications and experience. Principle 3 – Instil a culture of acting lawfully, ethically and responsibly 3.1 A listed entity should articulate and disclose its values. Compliant- the Company has formally documented the values that underpin its operations and these are disclosed on the website and in this Corporate Governance Statement. 3.2 A listed entity should: (a) have and disclose a code of conduct for its directors, senior executives and employees; and (b) ensure that the board or a committee of the board is informed of any material breaches of that code. Compliant- the Company has a Code of Conduct which is included on its website. The Board is informed of any significant breach of this Code. 3.3 A listed entity should: (a) have and disclose a whistleblower policy; and (b) ensure that the board or a committee of the board is informed of any material incidents reported under that policy. Compliant- the Company has a Whistle- blower Policy and the Audit and Risk Management Committee is informed of any material incidents reported under that policy 3.4 A listed entity should: (a) have and disclose an anti-bribery and corruption policy; and (b) ensure that the board or a committee of the board is informed of any material breaches of that policy. Compliant- the Company has an Anti-bribery and Anti-Corruption Policy which is included on the website. The Audit and Risk Management Committee is informed of any material breach of the policy. ACN 140 575 604 • Level 1, 5-7 King William Road, Unley, SA 5061 • +61 8 7092 6230 info@alligatorenergy.com.au • www.alligatorenergy.com.au • Page 6 of 19 ASX Corporate Governance Principle and Recommendations Status Principle 4 – Safeguard the integrity of corporate reports 4.1 The board of a listed entity should: (a) have an audit committee which: (1) has at least three members, all of whom are Non-Executive Directors and a majority of whom are independent directors; and (2) is chaired by an independent Director, who is not the chair of the board, and disclose: (3) the charter of the committee; (4) the relevant qualifications and experience of the members of the committee; and (5) in relation to each reporting period, the number of times the committee met throughout the period and the individual attendances of the members at those meetings; or (b) if it does not have an audit committee, disclose that fact and the processes it employs that independently verify and safeguard the integrity of its corporate reporting, including the processes for the appointment and removal of the external auditor and the rotation of the audit engagement partner. Compliant- the Company has an Audit and Risk Management Committee comprising four directors. The Committee is chaired by an independent director, with two independent Non-Executive Directors and a non- independent Non-Executive Director as the other members. The Charter of the Committee is included in the Corporate Governance Charter accessible on the Company’s website. The qualifications of Committee members and the number of meetings held during the year are disclosed in the Annual Report. 4.2 The board of a listed entity should, before it approves the entity’s financial statements for a financial period, receive from its CEO and CFO a declaration that, in their opinion, the financial records of the entity have been properly maintained and that the financial statements comply with the appropriate accounting standards and give a true and fair view of the financial position and performance of the entity and that the opinion has been formed on the basis of a sound system of risk management and internal control which is operating effectively. Compliant- The Board receives Section 295A Declarations from the CEO/MD and CFO before approving the financial statements for the Half-Year and the Full-Year. 4.3 A listed entity should disclose its process to verify the integrity of any periodic corporate report it releases to the market that is not audited or reviewed by an external auditor. Compliant- the Board, with the assistance of the Audit and Risk Management Committee, approves the Annual, Half-year and Quarterly Financial Reports. Principle 5 – Make timely and balanced disclosure 5.1 A listed entity should have and disclose a written policy for complying with its continuous disclosure obligations under listing rule 3.1. Compliant- the policy is included on the Company’s website ACN 140 575 604 • Level 1, 5-7 King William Road, Unley, SA 5061 • +61 8 7092 6230 info@alligatorenergy.com.au • www.alligatorenergy.com.au • Page 7 of 19 ASX Corporate Governance Principle and Recommendations Status 5.2 A listed entity should ensure that its board receives copies of all material market announcements promptly after they have been made. Compliant- the Board receives and reviews all significant market announcements and is automatically provided with all market announcements once released on the ASX platform. 5.3 A listed entity that gives a new and substantive investor or analyst presentation should release a copy of the presentation materials on the ASX Market Announcements Platform ahead of the presentation. Compliant- the Company releases all new and substantive presentations prior to the event. Principle 6 – Respect the rights of security holders 6.1 A listed entity should provide information about itself and its governance to investors via its website. Compliant- the Company has a website (www.alligatorenergy.com.au) where investors can locate information about the Group, its Directors, Senior Executives and the Company’s governance framework. 6.2 A listed entity should have an investor relations program that facilitates effective two-way communication with investors. Compliant- see the Shareholder Communications Policy on the website. The Company’s CEO and Managing Director along with the CFO develop and manage an investor relations program. 6.3 A listed entity should disclose how it facilitates and encourages participation at meetings of security holders. Compliant- see the Shareholder Communications Policy on the website. 6.4 A listed entity should ensure that all substantive resolutions at a meeting of security holders are decided by a poll rather than by a show of hands. Compliant- all resolutions put to Shareholders in general meeting are decided by means of a poll. 6.5 A listed entity should give security holders the option to receive communications from, and send communications to, the entity and its security registry electronically. Compliant- the Company encourages the use of electronic means of communication through registering with the Company’s share registry (Automic). ACN 140 575 604 • Level 1, 5-7 King William Road, Unley, SA 5061 • +61 8 7092 6230 info@alligatorenergy.com.au • www.alligatorenergy.com.au • Page 8 of 19 ASX Corporate Governance Principle and Recommendations Status Principle 7 – Recognise and manage risk 7.1 The board of a listed entity should: (a) have a committee or committees to oversee risk, each of which: (1) has at least three members, a majority of whom are independent directors; and (2) is chaired by an independent director, and disclose: (3) the charter of the committee; (4) the members of the committee; and (5) as at the end of each reporting period, the number of times the committee met throughout the period and the individual attendances of the members at those meetings; (b) if it does not have a risk committee or committees that satisfy (a) above, disclose that fact and the processes it employs for overseeing the entity’s risk management framework. Compliant- the Company has an Audit and Risk Management Committee which is chaired by an Independent Non-Executive Director. It is made up of three independent Non-Executive Directors and a Non- Independent Non-Executive Director. The Charter of the Committee is set out in the Corporate Governance Charter (Charter). The Charter together with the Risk Management Policy is included on the website. 7.2 The board or a committee of the board should: (a) review the entity’s risk management framework at least annually to satisfy itself that it continues to be sound and that the entity is operating with due regard to the risk appetite set by the board; and (b) disclose, in relation to each reporting period, whether such a review has taken place. Compliant- the Audit and Risk Management Committee together with the Board receive reports on the status and management of the strategic and operational risks to confirm that the framework for risk management remains sound for the size and scale of the Group’s operations. The Audit and Risk Committee consider the ongoing appropriateness of the framework at the time of approving the Annual Financial Statements. See this Corporate Governance Statement for more detail. 7.3 A listed entity should disclose: (a) if it has an internal audit function, how the function is structured and what role it performs; or (b) if it does not have an internal audit function, that fact and the processes it employs for evaluating and continually improving the effectiveness of its governance, risk management and internal control processes. Compliant- the Group does not have an internal audit function. Further details on how risk management and internal controls are evaluated are set out in this Corporate Governance Statement. 7.4 A listed entity should disclose whether it has any material exposure to environmental or social risks and, if it does, how it manages or intends to manage those risks. Compliant- see further detail in this Corporate Governance Statement. ACN 140 575 604 • Level 1, 5-7 King William Road, Unley, SA 5061 • +61 8 7092 6230 info@alligatorenergy.com.au • www.alligatorenergy.com.au • Page 9 of 19 ASX Corporate Governance Principle and Recommendations Status Principle 8 – Remunerate fairly and responsibly 8.1 The board of a listed entity should: (a) have a remuneration committee which: (1) has at least three members, a majority of whom are independent directors; and (2) is chaired by an independent director, and disclose: (3) the charter of the committee; (4) the members of the committee; and (5) as at the end of each reporting period, the number of times the committee met throughout the period and the individual attendances of the members at those meetings; or (b) if it does not have a remuneration committee, disclose that fact and the processes it employs for setting the level and composition of remuneration for directors and senior executives and ensuring that such remuneration is appropriate and not excessive. Compliant- the full board performs the role of the Remuneration Committee and the Remuneration Committee Charter forms part of the Corporate Governance Charter included on the Company’s website. Details of the number of board meetings held during the year are disclosed in the Annual Report. The Charter provides details regarding the processes employed for setting the level and composition of remuneration for directors and senior executives and ensuring that such remuneration is appropriate and not excessive. 8.2 A listed entity should separately disclose its policies and practices regarding the remuneration of Non- Executive Directors and the remuneration of executive Directors and other senior executives. Compliant- the Group discloses its policies on remuneration in the Remuneration Policy disclosed on the website and in the Remuneration Report contained within the Company’s Annual Report. 8.3 A listed entity which has an equity-based remuneration scheme should: (a) have a policy on whether participants are permitted to enter into transactions (whether through the use of derivatives or otherwise) which limit the economic risk of participating in the scheme; and (b) disclose that policy or a summary of it. Compliant- the Company has a Securities Trading Policy which prohibits the use of derivatives. The Policy is disclosed on the Company’s website. ACN 140 575 604 • Level 1, 5-7 King William Road, Unley, SA 5061 • +61 8 7092 6230 info@alligatorenergy.com.au • www.alligatorenergy.com.au • Page 10 of 19 The Corporate Governance Principles and Recommendations Principle 1 – Lay solid foundations for management and oversight Roles and responsibilities of the Board and Management The Company has established a Corporate Governance Charter which details the adopted practices and processes in relation to matters reserved for the Board’s consideration and decision-making and specifies the level of authorisation provided to other key management personnel. The Corporate Governance Charter sets out the functions of the Board which include: • ensuring compliance with the Corporations Act, ASX Listing Rules (where appropriate) and all relevant laws; • developing, implementing and monitoring operational and financial targets for the Company; • appointment of appropriate staff, consultants and experts to assist in the Company's operations, including the selection and monitoring of a Managing Director/Chief Executive Officer; • ensuring appropriate financial and risk management controls are implemented; • approving and monitoring financial and other reporting; • setting, monitoring and ensuring appropriate accountability for directors' and executive officers' remuneration; • establishing and maintaining communications and relations between the Company and third parties, including its shareholders and ASX; • implementing appropriate strategies to monitor performance of the Board in implementing its functions and powers; • oversight of the Company including its framework of control and accountability systems to enable risk to be assessed and managed; • appointing and removing the Managing Director/Chief Executive Officer; • ratifying the appointment and, where appropriate, removal of the Chief Financial Officer and the Company Secretary; • input into and final approval of the management's development of corporate strategy and performance objectives; • reviewing and ratifying systems of risk management and internal compliance and control, codes of conduct and legal compliance; • monitoring senior management's performance, implementation of strategy and ensuring appropriate resources are available; • approving and monitoring the progress of major capital expenditure, capital management and acquisitions and divestitures; • approval of the annual budget; • monitoring the financial performance of the Company; • liaising with the Company's external auditors; • monitoring, and ensuring compliance with, all of the Company's legal obligations; • approving and monitoring financial and other reporting; and • appointing and overseeing Committees where appropriate to assist in the above functions and powers. The day-to-day management of the Company’s affairs and the implementation of the corporate strategy have been formally delegated by the Board to the Managing Director/Chief Executive Officer. A copy of the Corporate Governance Charter can be located on the Company’s website. ACN 140 575 604 • Level 1, 5-7 King William Road, Unley, SA 5061 • +61 8 7092 6230 info@alligatorenergy.com.au • www.alligatorenergy.com.au • Page 11 of 19 Director and Senior Executive Checks The Company performs checks on all new appointments to the Board or as a Senior Executive which include checks on a person’s character, experience, education, criminal record and bankruptcy history. New directors or senior executives are required to provide consent for the conduct of background checks and also confirm their availability to spend the required time commitment on Company related matters. Directors appointed to a casual vacancy must stand for re-election at the next AGM. At that time, the Notice of Meeting provides Shareholders with information about the director including details of relevant skills, experience and any other relevant information available to the Board at that time. A similar approach together with disclosure of length of service is adopted for Directors standing for re-election under the Company’s rotation policy. Written Agreements with Directors and Senior Executives The Company has a written agreement with all non-executive directors which sets out the terms and conditions associated with their office. The Company has entered into a separate Service Agreement with the Executive Director and Senior Executives. The details of this arrangement are set out in the Directors’ Report - Remuneration Report section. Company Secretary The Company Secretary is accountable directly to the Board, through the Chair, on all matters associated with the proper functioning of the Board. The details and qualifications of the Company Secretary are set out in the Directors’ Report which is part of the Annual Report. Diversity The Company has a Diversity Policy which documents the principles and commitment in relation to maintaining a diverse employee base within the Company. This policy can be found on the Company’s website. The Company values diversity and recognises the benefits that it brings to the Company and its employees. The Company is committed to employing from a diverse range of ethnic and cultural background and in particular to involve the Traditional Owners (TOs) from our project sites in our field-based activities. The Group has not however set measurable objectives for achieving gender diversity due to the size and current level of activities. The Board does however continue to monitor diversity across the operations and will decide at some point in the future when it is appropriate to set such objectives. The total proportion of males and females across the organisation at 30 June 2026 is listed in the table below: Category Male Female Board (1 executive and 4 non- executive) 3 2 Senior Management 4 0 Staff 11 7 Total Organisation 18 9 ACN 140 575 604 • Level 1, 5-7 King William Road, Unley, SA 5061 • +61 8 7092 6230 info@alligatorenergy.com.au • www.alligatorenergy.com.au • Page 12 of 19 Assessment of Board Performance The Company has a policy of reviewing the collective performance of its Board on a periodic basis and plans at the appropriate time in the future to consider the performance of the individual Directors. The review process is managed by the Chairman and is based on the collective feedback obtained through a structured questionnaire format. The results of the feedback are summarised and tabled for discussion and where applicable actioning. A review was conducted in respect of the financial year ended 30 June 2026. The feedback and agreed actions were discussed at the June 2026 board meeting. The next review is scheduled for the final quarter of FY27. Assessment of Management Performance The Board conducted a performance assessment of the Managing Director/CEO (Dr Andrea Marsland-Smith) in August 2026 and provided written feedback on achievement of the agreed KPIs for the 2025/26 annual contract period. Each employee or contractor including the COO and CFO has 4 individual key performance indicators (KPIs) associated with their role and responsibility and one company-wide KPI. The overall performance of employees and eligible contractors in relation to these stretch target KPIs is co