• Agreed farm-out of ~10,000 acres to DWE, providing a US$28.5 million carry
• SPCF construction 88% complete and progressing on P50 time and budget
• Preparing to commence 2026 Beetaloo Basin program with stimulation and drilling

Tamboran Resources Corporation (NYSE: TBN, ASX: TBN) reported its 3Q FY26 results, which included several key highlights. The company agreed to a farm-out of approximately 10,000 acres to Daly Waters Energy (DWE), providing a US$28.5 million carry across the Pilot Area and BCDA acreage. This transaction recognizes the value of Tamboran's core Beetaloo position and provides non-dilutive capital to support the company's strategic development initiatives. Construction of the Sturt Plateau Compression Facility (SPCF) is 88% complete and progressing on schedule and within the P50 budget. Tamboran is also preparing to commence its 2026 Beetaloo Basin program, which includes stimulation of at least three wells (SS-3H, -4H, and -5H) and the drilling of at least two wells (SS-7H and -8H). Additionally, the company will participate in two wells (Jibera South 1H and Newcastle South 1H) in the Santos-operated EP 161 acreage to delineate additional resources in the Beetaloo East depocenter. Tamboran's balance sheet has been materially strengthened with a US$219 million capital raise and PIPE transaction, supporting the company's optionality for increased gas sales and resource delineation.

Tamboran expects to achieve first gas sales from the Beetaloo Basin in 3Q 2026, with an initial production target of approximately 40 MMcf/d.

Tamboran is well-positioned to capitalize on the emerging LNG ullage within the 25.3 MTPA of LNG projects in Queensland, Australia, as well as the anticipated shortfall on Australia's East Coast of ~1.2 Bcf/d from 2035 due to declining local production. The company's Beetaloo Basin gas is expected to play a key role in meeting this growing demand.