Beach Energy (BPT) AGM 2026 summary

Opening remarks and agenda

• AGM opened on 11 Nov 2026 with a quorum and paused at 11:00 a.m. for a Remembrance Day minute of silence.

• Formal business covered FY26 financial and sustainability statements, the remuneration report, two director re-elections and CEO incentive resolutions; shareholder approval of the financial statements was not required.

Financial performance review

• FY26 production was 19.4 MMboe, down 2% YoY, while sales volumes were 22.9 MMboe; Cooper Basin flooding and Waitsia’s slow ramp-up affected production.

• Revenue was AUD 1.8bn, average realised gas price AUD 11.50/GJ, underlying EBITDA AUD 1.0bn and pre-growth free cash flow AUD 458m.

• Total field operating costs fell 14% to AUD 244m, including Waitsia; operated field costs fell 18% in absolute terms since FY24 to AUD 244m in FY26.

• Year-end liquidity was AUD 983m with low gearing; August 2026 was the strongest production month in over five years, while volumes produced exceeded reserves added.

Board and executive committee updates

• Richard Richards and Bruce Clement stood for re-election, with unanimous board support; Richards serves on Audit and Risk and Technical committees, while Clement chairs Technical and serves on Audit and Risk.

• CEO Brett Woods was proposed to receive 1,696,832 long-term incentive rights and 713,266 FY26 short-term incentive rights; his short-term award was half cash and half performance rights vesting as shares in one to two years.