Supplementary Bidder�s Statement

We act for Horizon Oil Limited (Horizon) in respect of its off-market

takeover bid for all of the ordinary shares in Cue Energy Resources Limited (ACN 066 383 971) (ASX:CUE)

(Cue) that Horizon does not already have a relevant interest in (Offer). On 2 March 2026, Horizon lodged a

bidder�s statement in relation to the Offer (Original Bidder�s Statement).

We enclose, in accordance with subsections 633A(2)(c) and 647(3)(b) of the Corporations Act 2001 (Cth)

(Corporations Act) (as modified by ASIC Corporations (Replacement Bidder�s and Target�s Statements)

Instrument 2023/688 (ASIC Instrument 2023/688)) Horizon�s first supplementary bidder�s statement in

respect of the Offer (First Supplementary Bidder�s Statement).

The First Supplementary Bidder�s Statement attaches a copy of Horizon�s Original Bidder�s Statement

showing the changes (in mark-up) that have been made to the Original Bidder�s Statement, which are

reflected in Horizon�s replacement bidder�s statement in respect of the Offer (Replacement Bidder�s

Statement).

A clean version of the Replacement Bidder�s Statement will be lodged with the ASX pursuant to subsection

633A(2)(c) of the Corporations Act (as modified by ASIC Instrument 2023/688) in a separate

announcement. A copy of the First Supplementary Bidder�s Statement has been lodged with the Australian

Securities and Investments Commission and sent to Cue today.