Tamboran Resources Corporation · NYSE:TBN
Tamboran Resources — Q2 2026 Earnings Presentation
15 slides from Tamboran Resources's earnings presentation, Feb 11, 2026
Slide 1: 2Q FY26 Result Presentation
NYSE: TBN, ASX: TBN 2Q FY26 Result Presentation Mr. Todd Abbott – Chief Executive Officer ` North America: February 11, 2026 | Australia: February 12, 2026
Slide 2: Disclaimer
Disclaimer The information in this presentation includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), which include statements
Slide 3: 2Q FY26 highlights
Tamboran Resources Corporation (NYSE: TBN, ASX: TBN) 2Q FY26 highlights Completed the first batch drilling Mr. Todd Abbott appointed CEO. SPCF construction 78% complete on program in the Beetaloo Basin with all Brings over two decades of upstream schedule and budget. Construction three wells success
Slide 4: Investment highlights
Investment highlights Significant gas development in the Beetaloo Basin, with potential to become a world class gas province(1) 1 Significant unconventional gas resource Tamboran’s Beetaloo Basin acreage position ~2.9 million acres (net)(2) Exceptional well results with 2 additional IP30 flow test i
Slide 5: Pathway to growing the Beetaloo Basin
Pathway to growing the Beetaloo Basin Significant catalysts required to deliver Tamboran’s ambition to becoming a multi-Bcf/d producer 2027-2029 – Expansion & 2026 – Deliver Phase 1 2030+ Phase 2 drilling − Complete three well − Sanction Phase 1 Expansion − Deliver production growth stimulation prog
Slide 6: SS Pilot Project – 2025 stimulation campaign complete
SS Pilot Project – 2025 stimulation campaign complete Delivered Tamboran’s largest stimulation campaign − 58 stages across 10,009-foot (3,050-meter) horizontal section with the Mid Velkerri B Shale − Average proppant intensity of 2,206 lb/ft, reaching wellhead injection rates consistently above 100
Slide 7: SS Pilot Project – 2026 drilling and stimulation program
SS Pilot Project – 2026 drilling and stimulation program Remaining three wells to be stimulated in 2Q 2026 ahead of first gas sales | Backfill drilling planned on SS1 in 2Q 2026 − Targeting stimulation of three remaining 10,000-foot DUCs during 2Q 2026 (SS-3H, -4H and -5H) from the Tamboran-operated
Slide 8: Sturt Plateau Compression Facility construction
Sturt Plateau Compression Facility construction 78% complete and within P50 budget and schedule − The SPCF project remains within P50 budget and schedule − 78% complete at end January 2026 − Structural, mechanical and piping installation is ongoing − Awarded key contracts for electricals and control
Slide 9: Sturt Plateau Pipeline construction
Sturt Plateau Pipeline construction Targeting Practical Completion in February 2025 ahead of first gas sales in 3Q 2026 − APA Group (ASX: APA) completed construction activities during 4Q 2025 − Strength and hydro testing completed in January 2026 − Drying of the pipeline has SPP completed SPCF end –
Slide 10: EP 161 work program (new update)
EP 161 work program (new update) Santos operated commitment wells in EP 161 to grow resource base in the Beetaloo East depocenter − Santos (ASX: STO) planning two 10,000-foot horizontal well, Jibera South 1H and Newcastle South 1H in EP 161 (Tamboran 25% non-operator) − Wells targeting resource deli
Slide 11: Strengthened balance sheet following recent capital raise
Strengthened balance sheet following recent capital raise Total cash and expected near-term inflows of ~US$137.9 million at December 31, 2025 − Cash and expected near term cash inflows of 2Q FY26 Change in Cash Balance (net Tamboran) ~US$137.9 million at December 31, 2025(1) − Drawn debt of US$16.3
Slide 12: 2026 catalysts
2026 catalysts Planning most active year in the Beetaloo Basin | First gas sales from the Beetaloo Basin on track for 3Q 2026 3Q 2025 Flow tested SS-2H ST1 over 90 days delivering Marcellus-like declines 4Q 2025 Successfully drilled SS-4H, -5H and -6H wells 4Q 2025 10,009-feet of SS-6H successfully
Slide 13: Q&A
Q&A
Slide 14: Glossary
Glossary Key definitions Word Definitions AGP Amadeus Gas Pipeline ASX Australian Securities Exchange CDIs Chess Depository Interests (held on the ASX at a 200:1 ratio to Common Stock) CPI Australian Consumer Price Index DWE Daly Waters Energy, LP EP Exploration Permit H&P Helmerich and Payne (NYSE:
Slide 15: tamboran~
tamboran~ tamboran © RESOURCES