Slide 1: FY26 full year results
FY26 full year results 6 August 2026 August 26
Slide 2: Compliance statements
Compliance statements Disclaimer Assumptions This presentation contains forward-looking statements, including statements of current intention, opinion and predictions regarding Guidance is uncertain and subject to change. Production and capital expenditure guidance and other forecasts, projections,
Slide 3: FY26 headline results
FY26 headline results Continued performance across key metrics, strengthened liquidity to pursue growth PRODUCTION AVERAGE REALISED GAS PRICE 19.4 MMboe $11.5/GJ SALES VOLUMES TOTAL LIQUIDITY 22.9 MMboe $983 million SALES REVENUE PRE-GROWTH FREE CASH FLOW1 $1.8 billion $458 million UNDERLYING EBITDA
Slide 4: FY26 milestones
FY26 milestones Operational excellence and disciplined execution against our strategic objectives ✓ Waitsia Gas Plant online, nameplate 250 TJ/day achieved ✓ Supplied 19% of total East Coast Domestic gas demand Core Hubs ✓ >18-months recordable injury free across all assets ✓ Moomba CCS safely captu
Slide 5: Health, safety and environment
Health, safety and environment Achieving exceptional HSE outcomes Key highlights ▪ Outstanding HSE performance across all operations o 18-months recordable injury free across Beach operations in FY26, achieving record TRIFR1 of 0.0 o >1.5 million work hours safely executed o Safe execution of the Co
Slide 6: An owner’s mindset ingrained in our operations
An owner’s mindset ingrained in our operations Cost discipline and commercial strategy unlocking increased margins Total field operating costs ($ millions) Disciplined domestic focused operator Average realised gas prices ($/GJ) 14% 29% 284 Free cash flow breakeven <US$30/bbl 11.5 253 244 10.7 9.5 8
Slide 7: Domestic Gas Reservation
Domestic Gas Reservation Policy must support long-term reliable supply at affordable prices Gas Market Review Beach Actions / Response East Coast gas outlook (PJ)1 ▪ Beach supports a prospective ❑ Value protection and creation through 400 reservation for new supply from strategic pivot: 2030-32 on a
Slide 8: Reserves and resources
Reserves and resources Focus to build the resource base for the next phase of growth MMboe 30-Jun-25 30-Jun-26 Reserve revisions 1P reserves 93 82 ▪ Western Flank Oil: successful oil appraisal and development drilling and improved performance across operated fields 2P reserves 173 156 ▪ Cooper Basin
Slide 9: Financial results
FY26 full year results Financial results
Slide 10: Headline financial metrics
Headline financial metrics Diverse revenue stream and cost discipline facilitates increased margin capture $ million (unless otherwise indicated) FY25 FY26 Change FY26 sales revenue: $1.8 billion Production (MMboe) 19.7 19.4 (2%) Sales volumes (MMboe) 24.7 22.9 (7%) Gas liquids Sales revenue 1,997 1
Slide 11: Underlying NPAT movements
Underlying NPAT movements1 Earnings supported by structural operating cost reduction and commercial execution $ million Underlying NPAT down 21% due to 8 34 (30) ▪ Lower sales revenue, largely volume driven (38) 41 from flood impacted Cooper Basin and 74 Victoria Otway field decline and plant availa
Slide 12: Cash reserves movements
Cash reserves movements $458 million of pre-growth free cash flow1 $ million ▪ Operating cash flow down 21% to $890 million, reflecting: 60 o Restoration payments up 166% to $125 Growth capital million reflecting decommissioning of four (312) expenditure offshore wells in FY26 o Income tax payments
Slide 13: Strong financial position
Strong financial position Balance Sheet strength provides foundation for next phase of growth Available Liquidity ($ million) Available liquidity up 51% to $983 million 983 652 ▪ Successful refinance and upsize of 2025 and 2026 maturities capturing competitive terms 480 770 ▪ $300m Asian Term Loan s
Slide 14: Capital Management Framework
Capital Management Framework Strengthening the Balance sheet to deliver growth in reserves and returns in line with disciplined hurdles NET CASH FLOW FROM OPERATIONS Capital allocation criteria Privileged assets Sustaining Organic Inorganic Balance sheet strength Onshore expansion capital growth gro
Slide 15: Outlook
FY26 full year results Outlook
Slide 16: FY27 guidance
FY27 guidance Waitsia output to support step-up in production Production: 19.5 – 23.0 MMboe FY27 outlook Production Capital expenditure Continued drilling activities targeting Cooper Basin JV Targeting flat production ~70 wells; commencement of Moomba 8% 9% 9% Central Optimisation project 26% Cooper
Slide 17: Active work programs across core hubs
Active work programs across core hubs Investing in the base business to grow production Building the Privileged Maturing the next resource base infrastructure phase of growth Multiple drilling campaigns planned Upgrading and simplifying infrastructure Organic growth prospects targeting scale • Weste
Slide 18: Cooper Basin
18 Cooper Basin Inventory refresh delivering quality drilling prospects Western Flank • 12-well oil appraisal and development campaign commenced December 2025, 100% success rate from nine wells drilled to date (connections underway) • Remaining three wells to be drilled in H1 FY27 • Fit for purpose
Slide 19: Taroom Trough
Taroom Trough Australia’s most exciting exploration and appraisal oil and gas province Wallumbilla Gas Hub ATP 2081 marks Beach entry into this emerging province • Large strategic domestic gas and liquids opportunity close to existing B-7 infrastructure • Beach Energy (25%), Omega Oil and Gas (45% a
Slide 20: Nearshore Otway
20 Nearshore Otway Valuable, low-cost OGP backfill opportunity progressing to FID Key highlights • Nearshore exploration project targeting offshore Enterprise East & Selje prospects drilled from the existing Enterprise well pad • Low risk exploration and tie-back opportunities • Targeting high quali
Slide 21: Targeting offshore Otway scale
21 Targeting offshore Otway scale Strong emerging exploration inventory in 100% Beach acreage Next Steps • Adjacent blocks T/50P (2,552 km2) and T/30P (677km2) • Multiple prospects and leads with scale • Prospects show strong seismic AVO response and are being matured through application of high-end
Slide 22: Seismic direct hydrocarbon signatures
Seismic direct hydrocarbon signatures Direct seismic calibration to established producing field analogues – demonstrated prospect scale and potential Key points • Inventory de-risked with Advanced Comparing Phoques to Thylacine Field Quantitative Interpretation workflows • Amplitude conformance to s
Slide 23: Multiple trapping geometries – AVO supported
Multiple trapping geometries – AVO supported Phoques complex - large scale, amplitude supported exploration play Conventional structural traps • Amplitude fit to structure Greater Phoques Complex Multi Tcf Potential • Segments cluster on sub-regional structural high • Strong AVO signature throughout
Slide 24: Perth Basin backfill
24 Perth Basin backfill Conventional exploration and tight gas opportunities Conventional Exploration - targeting ~50 Bcf resource opportunities • Infill development opportunities at Waitsia to be instructed by production performance, modelling and reservoir management plan • Two-well exploration pr
Slide 25: Progression of Beach Perth Basin tight gas - Gross 2C
Progression of Beach Perth Basin tight gas - Gross 2C A deep exploration and appraisal inventory of proven tight gas play currently under review, as long term backfill supply, in concert with emerging regulatory reform Perth Basin: tight gas inventory resource evolution Key Wells Senecio Field (BPT
Slide 26: Wrap-up and Q&A
FY26 full year results Wrap-up and Q&A
Slide 27: Strategy in focus
Strategy in focus Disciplined capital deployment to high-margin developments and offshore scale opportunities to maximise returns SUSTAINABLE CORE HUBS HIGH MARGINS GROWTH Eastern Australia and Owner’s mindset Pivot to long-life, resilient assets Western Australia Onshore, low-cost developments High
Slide 28: Beach value proposition
Beach value proposition Expanding our domestic footprint through disciplined capital deployment Cooper Basin Cooper Basin JV ✓ Strong Balance Sheet Beach various interests (non-operated) 310 TJ/day Moomba Gas Plant 1.7 Mtpa CO2e injection capacity Western Flank ✓ Disciplined capital deployment Beach
Slide 29: Appendix
FY26 full year results Appendix
Slide 30: Reconciliation of EBITDA and NPAT
Reconciliation of EBITDA and NPAT $ million FY25 FY26 Change Underlying EBITDA 1,136 1,040 (8%) Impairment of non-current assets (674) - Tariffs and tolls related to unutilised NWS capacity (41) (28) Exploration expense - (75) Insurance recoveries 22 21 Legal costs related to shareholder class actio
Slide 31: Segment information
Segment information SA WA Victoria NZ Corporate Total ($ million) FY25 FY26 FY25 FY26 FY25 FY26 FY25 FY26 FY25 FY26 FY25 FY26 Production (MMboe) 8.3 7.4 1.6 3.3 8.2 7.2 1.6 1.4 19.7 19.4 Sales volumes (MMboe) 10.0 8.7 4.8 5.7 8.2 7.2 1.7 1.4 24.7 22.9 Sales revenue 887 773 396 398 605 528 109 102 1,
Slide 32: Perth Basin
Perth Basin Privileged infrastructure to service West Coast domestic gas and global LNG markets Asset overview: ▪ Interest: 50% interest and operator of EP320, L11 and L22 (Mitsui 50%); 50% interest in L1 and L2 (Mitsui 50% and operator) ▪ Assets: Waitsia Gas Plant (250 TJ/day capacity); Beharra Spr
Slide 33: Otway Basin
Otway Basin Prioritising nearshore backfill and targeting large-scale offshore growth Asset overview: ▪ Interest: 60% interest and operator of (O.G. Energy 40%), 100% interest in T/30P and T/50P ▪ Assets: Otway Gas Plant (205 TJ/day capacity); Black Watch, Enterprise, Geographe, Halladale, Speculant
Slide 34: Cooper Basin JV
Cooper Basin JV Delivering critical gas to the East Coast gas market Asset overview: ▪ Interest: Various non-operated interests (Santos operator)1 ▪ Assets: Moomba Gas Plant (310 TJ/day capacity); Moomba CCS (up to 1.7 Mtpa CO2 injection capacity); ~200 producing oil and gas fields ▪ FY26 production
Slide 35: Western Flank
Western Flank Extending exploration play horizons to unlock scale Asset overview: ▪ Interest: 100% interest and operator of PEL 91, PEL 104/111 and PEL 106; 75% interest and operator of PEL 92 (Amplitude Energy 25%) ▪ Assets: Middleton Gas Plant (22 TJ/day capacity); 29 producing oil fields and 10 p
Slide 36: Bass Basin Taranaki Basin
Bass Basin Taranaki Basin Non-core asset operating philosophy: ▪ Safety takes precedence ▪ Small, focused operational teams ▪ Target self-sustaining / self-funding operations ▪ Compliant with strict operating principles ▪ Selective capital investment only Interests: 100% interest and operator of T/L
Slide 37: BEACH ENERGY LIMITED
BEACH ENERGY LIMITED Level 8, 80 Flinders Street Adelaide SA 5000 Australia T +61 8 8338 2833 F +61 8 8338 2336 beachenergy.com.au INVESTOR RELATIONS Adam Stokes, Acting Head of Investor Relations T +61 8 8338 2833