Highlights:

• In January 2026, Mr. Todd Abbott was appointed Chief Executive Officer (CEO) of Tamboran Resources Corporation. Mr. Abbott brings over two decades of upstream experience with a strong record of operational leadership, capital discipline, safety and stewardship.
• In October 2025, Tamboran, on behalf of the Beetaloo Joint Venture (BJV), successfully completed the first batch drilling program in the Beetaloo Basin with the Shenandoah South 4H (SS-4H), -5H and -6H wells all successfully drilled and cemented with 10,000-foot horizontal sections in the Mid Velkerri B shale.
• In December 2025, stimulation activities on the SS-6H well comprising 58 stages across a 10,009-foot (~3,050-metre) length was completed.
• Strong progress was made on the construction of the Sturt Plateau Compression Facility (SPCF). The project was 78% completed at the end of January 2026. The SPCF construction remains on budget and on track to commence commissioning in 3Q 2026, subject to weather conditions.
• The construction of the APA Group (ASX: APA) owned Sturt Plateau Pipeline (SPP) was completed during the quarter. The pipeline successfully passed pressure and hydro testing in January 2026 and is expected to be tied into the Amadeus Gas Pipeline imminently.
• During the quarter, Tamboran raised US$67.4 million via a US$56.1 million public offer (before fees) at US$21.00 per share of Common Stock and an US$11.3 million Share Purchase Plan (SPP). The Public Offer was supported by leading energy technology company and new strategic partner, Baker Hughes.
• In January 2026, Tamboran shareholders voted to approve a US$32.0 million Private Investment in Public Equity (PIPE) transaction. The PIPE transaction was completed in January 2026 and was supported by Mr. Bryan Sheffield, Tamboran’s Board and management, and existing shareholders.
• As of December 31, 2025, the Company had a cash balance of US$90.9 million (including TBN’s 50% share of US$15 million in restricted cash) and drawn debt of US$16.3 million associated with the construction of the SPCF. Total undrawn debt of US$42 million for the completion of the SPCF (net Tamboran).
• Tamboran received US$32 million following completion of the PIPE in January 2026 and expects to receive US$15 million relating to the acreage sale to DWE during 2026.

Tamboran Resources Corporation Chief Executive Officer, Todd Abbott, said: “I am extremely excited for the opportunity to lead Tamboran into what I believe is going to be a period of significant growth for the Company. The year is shaping up to be Tamboran’s most active year in the Beetaloo Basin, with the Company participating in more than five well stimulations and the drilling of more than four wells across both the Beetaloo East and West depocenters.

Importantly, we are tracking towards first gas sales from the Beetaloo Basin during 3Q 2026 with the team actively progressing construction activities on the SPCF and SPP, both of which remain on schedule and budget. This will be a significant milestone for the Northern Territory, given it will provide initial royalties for Native Title Holders and the NT Government and energy security to Territorians.

We thank our shareholders for their support in the recent capital raise, which leaves Tamboran well-funded to deliver first gas from the SS Pilot Project in 3Q 2026.”

Source: Tamboran Resources Corporation ASX Announcment