Tamboran Resources (TBN) Investor presentation summary

Key achievements and milestones

• Achieved FID for the Shenandoah South Pilot Project and completed the acquisition of Falcon Oil & Gas.

• Raised approximately US$300 million since September 2025, strengthening the balance sheet.

• Successfully drilled and stimulated multiple wells, with record IP20 rates and completed construction of the SPCF project on time and under budget.

• Secured infrastructure debt, partially backstopped by the NT Government, and commissioned the Sturt Plateau Compression Facility.

• First gas sales to the Northern Territory are imminent, with strategic joint venture opportunities progressing.

Investment highlights and resource base

• Holds the largest Beetaloo Basin acreage position with 2.8 million net prospective acres.

• Operations team has over a decade of experience in the basin, operating the most horizontal wells.

• First gas sales are imminent, with 40 TJ/d contracted to the NT Government at a fixed, CPI-escalated price.

• Strategic partnerships with Helmerich & Payne, Liberty Energy, and Baker Hughes accelerate US shale expertise transfer.

• Access to three premium gas markets, including potential future LNG exposure.

Financial position and capital structure

• Maintains a strong balance sheet with US$298 million in cash and US$23 million in debt as of March 2026.

• Market capitalization stands at US$1.3 billion, ranking as the fourth largest listed Australian E&P.

• Recent capital raises and asset sales have bolstered liquidity for ongoing and future development.