Slide 1: 4Q FY26 Result Presentation
NYSE: TBN, ASX: TBN 4Q FY26 Result Presentation Mr. Todd Abbott – Chief Executive Officer ` September 25, 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: Key deliverables and upcoming catalysts
Key deliverables and upcoming catalysts Successful on-time delivery of first gas to the Northern Territory Key 12-month achievements ✓ FID of the Shenandoah South Pilot Project ✓ Completed acquisition of Falcon Oil & Gas ✓ Strengthened balance sheet raising ~US$300 million ✓ Secured infrastructure d
Slide 4: 4Q FY26 highlights
Tamboran Resources Corporation (NYSE: TBN, ASX: TBN) 4Q FY26 highlights First gas volumes delivered to the Successfully completed largest Successful placement of 10 stages of Northern Territory gas market in stimulation campaign in the Beetaloo in-basin Beetaloo Red Sand; provides 1 September 2026,
Slide 5: Q&A
Q&A
Slide 6: Investment highlights
Investment highlights Systematically de-risking one of the largest undeveloped non-associated gas projects in the world outside the Middle East and Russia Tamboran’s Investment Case Tamboran’s ~2.8 million prospective acres (net) Proven team Most experienced operator Beetaloo depocenter Proven Board
Slide 7: Capital structure
Capital structure Strong balance sheet with US$240 million in cash and near-term inflows supporting joint venture partnership discussions Tamboran Resources Corporation (as at close September 24, 2026) US Peer Market Capitalization (US$ billion)(4) Combined NYSE: TBN ASX: TBN 32.5 Stock code: Equiva
Slide 8: First gas delivered to the NT gas market
First gas delivered to the NT gas market Commenced sales in September 2026 | Facility expected to ramp up in line with NTG nominations SPCF Production(1) 60 SPCF capacity (50 TJ/d) 50 40 Volume (TJ/d) Contracted volume to NT Government (40 TJ/d) 30 20 10 - 5 Sep'26 12 Sep'26 19 Sep'26 Sturt Plateau
Slide 9: Beetaloo West – Record stimulation campaign
Beetaloo West – Record stimulation campaign Material improvements to operational efficiency | First testing of locally sourced sand supports future cost reduction 178 stages 12 stages in a day 10 stages − Largest stimulation program in the Beetaloo Basin Over 30,000-ft horizontal Record for Beetaloo
Slide 10: Beetaloo West – Sturt Plateau Compression Facility
Beetaloo West – Sturt Plateau Compression Facility Construction activities complete | Capital expenditure to be below forecast budget ~40 TJ/d ~US$9 million ~US$2.5 million Contracted volume Below forecast budget Indicative monthly tariff − Forecast capital expenditure tracking US$90 million (A$129
Slide 11: Beetaloo West – Tamboran's Beetaloo Basin operations
Beetaloo West – Tamboran’s Beetaloo Basin operations Continuing to incorporate lessons to achieve target of under 25 days (spud to TD) per well Tamboran-operated Beetaloo Basin wells drilled with the H&P Rig - − Completed initial two wells of the three well 2026 program on SS1 pad 5,000 − Continuing
Slide 12: Beetaloo East – Unlocking value in the east
Beetaloo East – Unlocking value in the east Commenced two well appraisal program to delineate gas maturation across the eastern depocenter Maverick 1 Tanumbirini Maverick 1 (2022) Tanumbirini 1 (2016) ~500,000 acres within the depocenter at depth of >8,200 feet Potential e (C1) C shale (C1) Velkerri
Slide 13: Strengthened balance sheet following recent capital raise
Strengthened balance sheet following recent capital raise Total cash and expected near-term inflows of ~US$240 million at June 30, 2026 4Q FY26 Change in Cash Balance − Cash and expected near-term cash inflows of ~US$240 million at June 30, 2026(1) − Drawn debt of US$30 million (net to Tamboran) to
Slide 14: Appendix
Appendix
Slide 15: Dominant Beetaloo Basin acreage position
Dominant Beetaloo Basin acreage position Tamboran’s 2.8 million net prospective acreage position is the largest of peers and the only operator to cover two depocenters Gross Net Beetaloo depocenter Permits(1) Prospective Interest Prospective (* Denotes Operator) Acres Acres Northern Pilot Area 20,23
Slide 16: Changes to well naming convention
Changes to well naming convention Wells will be defined by pad location and orientation New Name Previous Name Status SSX-1H SS-1H SS-1H 90-day flow test over 500 metres SSX-3H SS1-2H SS-9H Currently drilling SSX-5H SS1-4H SS-8H Drilled and awaiting completion SS1-6H SS-7H Drilled and awaiting compl
Slide 17: Glossary
Glossary AEMO Australian Energy Market Operator IP20 Average production rate over the first 20 days of production AGP Amadeus Gas Pipeline IP90 Average production rate over the first 90 days of production APA APA Group (ASX: APA) JV Joint Venture BCDA Beetaloo Central Development Area (TBN 10% inter
Slide 18: tamboran~
tamboran~ tamboran © RESOURCES