Tamboran Resources Corporation · NYSE:TBN
Tamboran Resources — Q1 2026 Earnings Presentation
15 slides from Tamboran Resources's earnings presentation, Nov 13, 2025
Slide 1: 1Q FY26 Result Presentation
NYSE: TBN, ASX: TBN 1Q FY26 Result Presentation Mr. Dick Stoneburner – Chairman & Interim CEO North America: November 13, 2025 | Australia: November 14, 2025
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: 1Q FY26 highlights
Tamboran Resources Corporation (NYSE: TBN, ASX: TBN) 1Q FY26 highlights Completed the first batch drilling SS Pilot Project reached Final program in the Beetaloo Basin with all Construction activities on the SPCF and Investment Decision having received key three wells successfully drilled by H&P SPP
Slide 4: Final Investment Decision for SS Pilot Project
Final Investment Decision for SS Pilot Project SS Pilot Project reached FID in September 2025 | On track to deliver gas to the Northern Territory Government from mid-2026 Reached key commercial terms ✓ Unconditional Gas Sales Agreement signed with NT Government for sale of 40 TJ/d ✓ Gas Processing A
Slide 5: Completed SS Pilot Project drilling
Completed SS Pilot Project drilling Successfully delivered three well batch drilling campaign, a first in the Beetaloo Basin, each with 10,000-foot horizontal Tamboran-operated Beetaloo Basin Wells − Largest drilling program conducted in the Beetaloo Basin - (~63,500 feet drilled across three wells)
Slide 6: Commenced stimulation operations
Commenced stimulation operations SS-6H stimulation campaign commenced | Targeting up to 60 stages over 10,000 feet of Mid Velkerri B shale − SS-6H well successfully pressure tested − Liberty Energy (NYSE: LBRT) commenced 60-stage stimulation program in early November 2025 − Focus on replicating the
Slide 7: Sturt Plateau Compression Facility construction
Sturt Plateau Compression Facility construction Remains within budget and on schedule | First commercial sales on track for mid-2026 − Construction works progressing to plan − Compressors and TEG package installation nearing completion − Within P50 budget and schedule − 68% complete at end October 2
Slide 8: Sturt Plateau Pipeline construction
Sturt Plateau Pipeline construction APA-operated pipeline on track for Practical Completion by the end of 2025 − APA has commenced construction of the SPP, connecting the SPCF to the AGP − 60% of the 23 miles (37 km) pipeline has been welded − 4 miles (6 km) trenched and buried SPP pipe welding – mo
Slide 9: Tamboran increasing its dominant acreage position over the Beetaloo depocenter
Tamboran increasing its dominant acreage position over the Beetaloo depocenter >50% increase in net prospective acres building on Tamboran’s existing large position across the core of the Basin Beetaloo depocenter + 2.9 million US$552 million Acrea ge Equit y Value (mill io n acres) (US$) Upon closi
Slide 10: Farmout update and proposed acreage swap with DWE
Farmout update and proposed acreage swap with DWE Increasing farmout acreage to 500,000 acres and alignment with DWE | Tamboran and DWE to align 50/50% on Pilot Area − Increased the Phase 2 Development Area to 500,000 acres − 100,000 acres added from Daly Waters Energy (DWE) operated acreage adjacen
Slide 11: Tamboran’s Strategic Partnerships in place to accelerate large scale Beetaloo and LNG development
Tamboran’s Strategic Partnerships in place to accelerate large scale Beetaloo and LNG development Baker Hughes joins list of key strategic partners supporting the unlocking of the Beetaloo Basin (5.0% TBN shareholder)(1) (4.4% TBN shareholder)(1) (2.3% TBN shareholder)(1) Strategic Drilling Partner
Slide 12: Strong balance sheet to fund activities to first gas sales
Strong balance sheet to fund activities to first gas sales Total cash and expected near-term inflows of ~US$140 million at September 30, 2025 − Cash and expected near term cash inflows of 1Q FY26 Change in Cash Balance ~US$140 million at September 30, 2025 − Completed Public Offer to raise US$53.0 m
Slide 13: Upcoming catalysts
Upcoming catalysts Delivering on key milestones and progressing towards production from 40 TJ/d (~39 MMcf/d) SS Pilot Project in mid-2026 Commenced RBC farmout process for Phase 2 2H 2025 Development Area Successfully drilled the SS-4H, -5H and -6H Pilot 2H 2025 wells Reached Final Investment Decisi
Slide 14: Q&A
Q&A
Slide 15: tamboran
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