Beach Energy (BPT) Investor presentation summary

Transaction terms and acreage

• Acquiring from Elixir 50% operated interests in ATP 2044 and ATP 2077 A-B, plus 25% interests in ATP 2056 and ATP 2057.

• Consideration includes $25m cash at completion, anticipated in H2 FY27, and a $90m carry of Elixir’s exploration and appraisal costs, including G&G, over ~4 years; work-program deployment remains at the operator’s discretion.

• Operatorship of ATP 2044 and ATP 2077 A-B will transition; the transaction adds >1,000 km² and takes net Taroom acreage to 1,481 km² (~366,000 net acres).

• An Area of Mutual Interest arrangement allows both parties to participate in additional Taroom acreage opportunities, subject to conditions including existing pre-emptive rights.

Exploration and appraisal

• The farm-in work program targets resource derisking through seismic, drilling and testing, funded by the $90m carry over an approximate four-year period.

• ATP 2081 has a two-vertical-well campaign underway, with results expected in Q2 FY27; lateral drilling, stimulation and an extended well test are options subject to results.

• Planning is underway for a 2D seismic survey; ATP 2082 is planned to have four vertical wells drilled in FY28, with initial contingent resource booking targeted for end-FY27.

• ATP 2081 and ATP 2082 interests are held by Omega Oil and Gas (45%, operator), Tri-Star Group (30%) and a 25% interest; ATP 2081 was awarded in February 2026 and ATP 2082 in September 2026.

Resource position and strategic rationale

• Elixir has previously reported independently certified 2C Contingent Resources of ~3.5 Tcfe net, highlighting potential scale and portfolio optionality.

• The expanded position is ~1,500 km² net acreage, described as a leading basin position with potential to build resource and reserves in coming years.

• The acreage is positioned for access to East Coast gas infrastructure and is presented as a low-cost route into an emerging resource play, with future resource and reserves potential.