• Equity raise of up to US$198 million to fund additional drilling, resource delineation, and infrastructure
• Includes a registered underwritten public offering and a pro rata accelerated non-renounceable entitlement offer
• Net proceeds will support Tamboran's development program in the Beetaloo Basin

Tamboran Resources Corporation has launched an equity raise to accelerate the development of the Beetaloo Basin. The equity raise has two components: a registered underwritten public offering of 2,956,602 shares of common stock (with an additional 443,491 shares that may be purchased by the underwriters), and a pro rata accelerated non-renounceable entitlement offer of up to 2,266,729 shares of common stock or Tamboran CHESS Depositary Interests. The equity raise is being conducted at a 22.8% discount to the last closing price and is expected to raise up to approximately US$79 million under the entitlement offer, for a total equity raise of approximately US$198 million. The net proceeds will be used to fund additional drilling in the Pilot Area, resource delineation in the Orion Acreage and the Beetaloo Central Development Area, drilling in the EP 161 acreage, and for working capital and other general corporate purposes. The transactions build upon Tamboran's achievements to date and position the company to accelerate its development program in the Beetaloo Basin.

The equity raise is expected to fund Tamboran's efforts to increase production above ~40 MMcf/d into the Northern Territory gas market, progress potential P2DA (Orion) activity, fund Tamboran's share of Beetaloo Central Development Area activity, and participate in two EP 161 wells with Santos.

The equity raise and associated transactions solidify Tamboran's planned development program in the medium term and position the company to accelerate drilling activities and de-risk its operations to establish a production base that will underpin future cash generation.