Beach Energy (BPT) AGM 2025 summary

Opening remarks and agenda

• Meeting opened with confirmation of quorum, housekeeping, and compliance statements; webcast available for shareholders.

• Chairman and CEO delivered addresses outlining strategic direction and operational highlights for FY25.

• Board members, including new appointee Shaun Gregory and auditor EY, were introduced; shareholder questions to be addressed during formal business.

Board and executive committee updates

• Shaun Gregory, with extensive energy sector experience, appointed to the board as Peter Moore retires after eight years.

• Sally Ann Lehman to become Lead Independent Non-Executive Director, standing for re-election.

• Executive leadership team restructured, with a 33% headcount reduction.

• Board comprised of a mix of executive and independent non-executive directors.

Financial performance review

• FY25 saw a 33% reduction in headcount, 18% reduction in field operating expenditure, and 20% reduction in sustaining capital expenditure.

• Production reached 19.7 MMboe, up 9%, with sales volumes at 24.7 MMboe, up 16%.

• Sales revenue grew 13% to AUD 2 billion, and underlying EBITDA rose 20% to AUD 1.1 billion.

• Underlying NPAT up 32% to AUD 451 million.

• EBITDA margin improved to 57%; pre-growth free cash flow quadrupled to AUD 657 million.