Earths Energy Ltd · ASX:EE1

Earths Energy — Cradle Resources — Investor Presentation (October 2023)

12 slides from Earths Energy's investor presentation, October 2023

1. Slide 1: Creating Australia's leading 24/7 renewable energy solution

   Creating Australia’s leading 24/7 renewable energy solution Bringing clean geothermal energy: Renewable, Reliable, Ready Geothermal Energy Acquisition October 2023 1

2. Slide 2: Disclaimer

   Disclaimer FORWARD LOOKING STATEMENT Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from those expressed or implied by such forward-looking information, including risks associated with invest

3. Slide 3: One of the most prospective and advanced geothermal portfolios in Australia

   One of the most prospective and advanced geothermal portfolios in Australia Cradle has entered into binding agreements to acquire Volt Geothermal Pty Ltd (“Volt”) and Within Energy Pty Ltd (“Within”)1, with the aim to become Australia’s leading geothermal company Transformational transaction into th

4. Slide 4: Capital Structure and timetable

   Capital Structure and timetable1 Number of Ownership shares (%) Existing securities on issue 229.9m 30.6% Consideration shares to vendors of Volt and Within 220.3m 29.4% Issue of Shares at $0.02 under the Capital Raising Offer1 300.0m 40.0% Total 750. 3m 100% Market Capitalisation (post transaction

5. Slide 5: Geothermal is essential for the global energy transition towards net zero carbon

   Geothermal is essential for the global energy transition towards net zero carbon Single Well Closed Loop System Why is geothermal energy important? • Geothermal energy is proven, reliable and one of few renewable solutions available 24/7 • Geothermal power generation is used in 30 countries with 16

6. Slide 6: Geothermal provides a pathway for junior companies to participate in the renewable energy transition

   Geothermal provides a pathway for junior companies to participate in the renewable energy transition Barrier to entry Barriers for entry for other renewable energy solutions Geothermal Benefit Access to existing • Lack of access to key and essential infrastructure • Binary Cycle Power Plants are typ

7. Slide 7: Australia needs geothermal to be a part of its renewable energy solution

   Australia needs geothermal to be a part of its renewable energy solution Australia has the right building blocks in place for geothermal Why are there no geothermal projects currently in Australia? • Renewable target of 82% renewable energy power by 2030 • Not required - level of emissions was not a

8. Slide 8: South Australia

   South Australia The leading renewable energy transition State • South Australia is the leading Australian state for renewable energy transition • Cradle has secured blocks totalling over 12,300 km² • Located on trend with major transmission lines and mines including Olympic Dam, Carrapateena and Fou

9. Slide 9: Queensland

   Queensland Government supporting renewable energy • State Government announced $19bn budget to be spent over 4 years to support renewable energy, storage and transmission • One tenement granted and three under application • Located near Brisbane metro, with major transmission lines located on teneme

10. Slide 10: Key targets for 2023 - 2024

    Key targets for 2023 - 2024 2023 Secure fit for purpose team including Board Secure Australian acreage under application Completed Competent Persons Report on Queensland and South Australia Resource Potential 2024 Complete Environmental, Native Title and Cultural Heritage approvals Conduct geologica

11. Slide 11: Competent Person's Statement

    Competent Person’s Statement The information in this release that relates to resource estimates through the mapping of prospective areas and gross rock volumes, review of reservoir temperature and properties of rock formations, pore fluids and fracture systems within the metasediments and basement r

12. Slide 12: For more information contact

    For more information contact Matt Kay Managing Director Designate 0401 988 824 [email protected] cradleresources.com.au | ASX: CXX

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