The MND Drilling & Services (MD-150) rig at the HOCH-1 drilling location prior to well spud

ADX Energy advises the commencement of drilling of the Hochfeld-1 (“HOCH-1”) well with the MND Drilling & Services a.s. MD-150 drilling rig on the 16th of April 2026 at 9.00 pm CET. Operations at 6.00 am CET on the 19th of April 2026 were drilling ahead in 8 ½ inch hole at a measured depth (“MD”) of 96 metres.

The HOCH-1 shallow gas exploration well will be drilled in the ADX-AT-I exploration licence in Upper Austria. ADX is the operator and holds a 50% economic interest in the HOCH prospect.

The HOCH-1 well is expected to take approximately fourteen days to drill and evaluate assuming a success case scenario. A successful well will be cased and suspended for production testing to determine the reserves potential. The total measured depth (“MD”) is approximately 1430 metres with a true vertical depth (“TVD”) of 1145 metres.

Future Operations

Future operations are drilling ahead to 430 metres, then running and cementing 7inch casing.

Overview

The Hochfeld-1 (“HOCH-1”) well is the first shallow gas exploration well to be drilled by ADX in Upper Austria. HOCH-1 is located in the ADX-AT-I licence. ADX is the operator and holds a 50% economic interest in the well. HOCH-1 is the first of three (3) permitted shallow gas targets that ADX plans to drill during 2026. Up to ten shallow gas prospects have been generated by ADX in the ADX-AT-I and ADX-AT-II exploration licences targeting highly productive, Miocene age sandstone reservoirs which are expected to contain biogenic gas (99% methane). Several nearby wells (Miocene age) with similar gas sandstones (“Hall formation”) have produced at initial rates of up to 9 mmscf/d (equating to approx. 1,500 boepd).

The HOCH prospect has a Mean Prospective Resource potential of 8.0 BCF and a High Case Prospective Resource of 17.3 BCF. The success case economics of HOCH are enhanced by high European gas prices, high production rates and proximity to open access pipeline infrastructure.