Wood was the eighth driver out in the session and put down a clean lap, stopping the clocks at 1:09.1586s to knock Broc Feeney from the top of the order by just 0.0433s.
Subsequent runners Chaz Mostert and Matt Payne fell short of the top two, ensuring Wood his first Gold Coast pole.
Bizarrely, Wood tagged the wall at the exit of the first chicane on his cool down lap – an error for which he had no explanation.
“I thought you wouldn’t have seen it,” he laughed when asked of the moment. “I don’t know what I was doing.”
Feeney was the big winner in the session having been second on track after setting the ninth fastest time in regular qualifying.
Payne and Mostert will share the second row of the grid – the latter finishing his lap despite thumping the wall at the exit of the beach chicane.
“I don’t know what happened,” said Mostert.
“I was warming the car up and having a bit of a gearbox issue, so it took a lot of our concentration away, at least the first part of the lap.
“The car was pretty good, but I was just worried about coming into some brake zones and not getting the gear down.”
Fifth through ninth in the Shootout result were James Golding, Cam Waters, James Courtney, David Reynolds and Anton De Pasquale.
Reigning Supercars champion Will Brown will start 10th, provided his Red Bull Ampol Racing team can repair the #1 Camaro in time.
Brown crashed heavily at the exit of the beach chicane, losing control through the final part of the complex and slamming the concrete barrier.
Brodie Kostecki has already been ruled out of the Saturday action following his heavy crash in regular qualifying.
Result: Gold Coast 500 Saturday Top 10 Shootout
| Pos | Num | Team/Sponsor | Driver/s | Car | Laps | Fastest | Gap | Lap |
| 1 | 2 | Mobil1 Truck Assist Racing | Ryan Wood | Ford Mustang GT | 1 | 1:09.159 | 1 | |
| 2 | 88 | Red Bull Ampol Racing | Broc Feeney | Chev Camaro ZL1 | 1 | 1:09.202 | 0.0433 | 1 |
| 3 | 19 | Penrite Racing | Matthew Payne | Ford Mustang GT | 1 | 1:09.211 | 0.0526 | 1 |
| 4 | 25 | Mobil1 Optus Racing | Chaz Mostert | Ford Mustang GT | 1 | 1:09.272 | 0.1129 | 1 |
| 5 | 31 | PremiAir Racing | James Golding | Chev Camaro ZL1 | 1 | 1:09.273 | 0.1140 | 1 |
| 6 | 40 | Monster Castrol Racing | Cam Waters | Ford Mustang GT | 1 | 1:09.415 | 0.2569 | 1 |
| 7 | 7 | Snowy River Caravans Racing | James Courtney | Ford Mustang GT | 1 | 1:09.439 | 0.2800 | 1 |
| 8 | 20 | TRADIE Energy | David Reynolds | Chev Camaro ZL1 | 1 | 1:09.551 | 0.3927 | 1 |
| 9 | 18 | Cub Cadet Racing | Anton De Pasquale | Chev Camaro ZL1 | 1 | 1:10.131 | 0.9722 | 1 |
| 10 | 1 | Red Bull Ampol Racing | Will Brown | Chev Camaro ZL1 |













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