• Significant gas development in the Beetaloo Basin, with potential to become Australia's next major gas province
• Exceptional well results, with record Beetaloo Basin IP90 test of 6.7 MMcf/d
• Large and attractively priced gas markets, with opportunity to sell into domestic and Asian LNG markets

Tamboran Resources Corporation is a company with a significant gas development in the Beetaloo Basin, which has the potential to become Australia's next major gas province. The company has a large and attractively priced gas market opportunity, with the ability to sell gas into the domestic East Coast market and high growth Asian LNG markets. Tamboran has achieved exceptional well results, including a record Beetaloo Basin IP90 test of 6.7 MMcf/d from the SS-2H ST1 well, highlighting rates in-line with the core Marcellus Shale. The company is finalizing key stakeholder approvals to deliver initial 40 TJ/d (gross) production from the proposed Shenandoah South Pilot Project, with drilling and infrastructure construction underway ahead of first gas in mid-2026. Tamboran has a large and attractively priced acreage position of approximately 1.9 million net prospective acres in the Beetaloo Basin, which is comparable in size to leading U.S. independent gas producers. The company is progressing towards a farmout of approximately 400,000 acres in the Phase 2 Development Area, which is the most 'development-ready' acreage in the Beetaloo Basin. Tamboran is committed to supporting local and Indigenous businesses, with a significant increase in annual spend with these businesses in FY25.

Tamboran is finalizing key stakeholder approvals to deliver initial 40 TJ/d (gross) production from the proposed Shenandoah South Pilot Project, with first gas expected in mid-2026.

Tamboran is targeting multiple wells in 2026 to book reserves to support a Phase 2 project sanctioning decision, which would supply the East Coast domestic gas market in stages from 2028-30 to address an anticipated ~1 Bcf/d shortfall.