Tamboran Resources (TBN) Investor presentation summary

Investment highlights and strategic positioning

• Holds 2.9 million net prospective acres in the Beetaloo Basin, positioning as the largest pure gas play on the ASX.

• Pro forma market capitalization exceeds US$1.2 billion following the Falcon acquisition, increasing liquidity and simplifying joint venture dynamics.

• First gas sales targeted for 3Q 2026, with infrastructure 84% complete and expansion potential to 100 MMcf/d by 2028.

• Secured long-term, fixed-price gas contract with the Northern Territory Government until mid-2041.

• Strategic farmout with Daly Waters Energy and partnerships with major industry players support accelerated development.

Operational progress and technical performance

• Successfully drilled and flow tested multiple wells, with SS-6H achieving a record IP20 flow rate of 10.3 MMcf/d.

• Drilling efficiency improved through adoption of advanced US shale technology and partnerships with Baker Hughes and Liberty.

• Sturt Plateau Pipeline and Compression Facility construction nearly complete, enabling early production and sales.

• Over 10,000 potential drilling locations identified, with significant inventory expansion expected.

• Drilling and completion costs targeted for ~50% reduction through continuous operations and local supply chain development.

Market opportunity and growth drivers

• Beetaloo Basin positioned to address emerging gas shortfalls in Australia and supply Asia-Pacific LNG markets amid global supply disruptions.

• Non-binding LOIs for up to 875 MMcf/d of gas to East Coast retailers, with new pipeline to connect Beetaloo to major markets.

• East Coast gas prices for 2027 average US$9.20/mcf, a 158% premium to Henry Hub, supporting robust project economics.

• Secured site and pre-FEED completed for proposed 12 MTPA NTLNG project at Darwin, with MOUs signed with bp and Shell.

• Australian LNG facilities expected to have significant ullage, creating export opportunities for Beetaloo gas.