BEACH Q3 ACTIVITIES REPORT

Newport Exploration Ltd has provided an update on third quarter activities for its Cooper Basin licences in Australia, where the company maintains a 2.5% gross overriding royalty interest operated by Beach Energy. The quarter presented mixed operational results, with production impacts from severe weather conditions offset by exceptional drilling success rates.

Production from the Western Flank declined 8% quarter-over-quarter due to extensive rainfall that particularly affected oil operations, which fell 16% below the prior quarter. However, gas and gas liquids production increased 9%, partially mitigating the overall production decline. The severe weather in February and March significantly impacted road access and operational capabilities throughout the region.

The standout performance came from Beach Energy's drilling campaign, which achieved a 100% success rate across new wells at Stunsail West, Kangaroo 5, and Kangaroo 1 West. The Stunsail West 1 exploration well encountered oil in multiple reservoirs and identified a continuous oil accumulation connecting with the existing Stunsail field. The Kangaroo 5 appraisal well demonstrated reservoir communication with existing producers, enhancing field development potential.

Looking forward, Beach Energy plans to complete six additional oil development wells across multiple fields, with four expected in the current fiscal year and two deferred to FY27 due to weather delays. The successful drilling results and demonstrated reservoir connectivity position the Western Flank assets favorably for future production growth, which directly benefits Newport through its royalty interest structure.