• Completion of major projects delivering new gas and reducing emissions
• Improved financial results support an increased interim dividend
• Strengthened liquidity position from higher free cash flow generation

Beach Energy reported strong financial and operational performance in the first half of FY25, with increased production, sales revenue, and underlying EBITDA. The company made progress on key projects, including the Otway Basin drilling program, which delivered six new wells providing critical gas for the East Coast market, and the Moomba Carbon Capture and Storage project, which has the capacity to inject up to 1.7 Mt (gross) of CO2 annually. The Waitsia Stage 2 project also transitioned from the construction phase to the commissioning phase, with the company lifting four LNG swap cargoes and pursuing further swap cargoes prior to the start-up of the Waitsia Gas Plant, which is targeted for Q4 FY25. The company's financial position was strengthened, with a 10% net gearing and $631 million in available liquidity at the end of the period. Beach declared a fully franked interim dividend of 3.0 cents per share, a 50% increase from the prior period.

Production guidance narrowed to 18.5 - 20.5 MMboe (from 17.5 - 21.5 MMboe). Capital expenditure guidance maintained at $700 - 800 million. Field operating costs targeted at ~$14/boe in FY25.

Beach is focused on supporting the operator for the Waitsia Gas Plant commissioning and first gas target, as well as executing active work programs across its core East and West Coast acreage, including the Arenaria gas exploration well and Beharra Springs Deep 3 development well in the Perth Basin, the Hercules gas exploration well in the offshore Otway Basin, and the commencement of a 10-well oil development and appraisal campaign in the Western Flank.