Frontier Energy's Quarterly Activity Report for the quarter ending 30 June 2024

Frontier Energy Limited (ASX: $FHE) is pleased to present its quarterly activity report for the quarter ending 30 June 2024. The Company has secured $215 million debt financing for the Stage One development of its Waroona Renewable Energy Project. Infradebt Pty Limited has been mandated to provide the financing, with long-form documentation expected to be executed in September 2024. The financing deal also includes a long-term partnership for further battery projects, enhancing the Company's renewable energy initiatives.

Executive Commentary on Debt Financing and Project Development

The Company is delighted to have secured the debt financing for the Stage One development of the Waroona Project. This partnership with Infradebt marks a significant milestone in our renewable energy initiatives. The longer battery duration and reduced capital cost demonstrate our commitment to enhancing the Project's economics and revenue generation. The contracts with Western Power further solidify our strategic advantage, positioning us for successful construction and operation. The AEMO's forecasts further underscore the critical need for sustained investment in new generation and storage capacity, aligning with our long-term goals for the Waroona Project.

Summary of Quarterly Activity Report and Outlook

Frontier Energy's quarterly activity report highlights the successful mandate of Infradebt for $215 million debt financing, emphasizing the Company's progress in the Stage One development of the Waroona Project. The enhanced battery technology and strategic contracts with Western Power position the Company for efficient construction and operation. The AEMO's forecasts indicate a significant need for new capacity, aligning with the Company's ambitions for the Waroona Project. With a strong focus on sustainability and renewable energy, Frontier Energy is well-positioned to contribute to Western Australia's energy landscape and meet the growing demand for electricity.