NYSE: TBN, ASX: TBN North American Non-Deal Roadshow Presentation September 2025 SHENANDOAH SOUTH WELLPAD, NORTHERN TERRITORY, AUSTRALIA For personal use only 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 on Tamboran Resources Corporation's ("we", "us" or t ...

Group 1 - Proactive provides fast, accessible, informative, and actionable business and finance news content to a global investment audience [2] - The news team covers medium and small-cap markets, as well as blue-chip companies, commodities, and broader investment stories [3] - Proactive focuses on sectors including biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto, and emerging digital and EV technologies [3] Group 2 - Proactive has a history of adopting technology to enhance workflows and content production [4] - The company utilizes automation and software tools, including generative AI, while ensuring all content is edited and authored by humans [5]

[Form 8-K Current Report](index=1&type=section&id=Form%208-K%20Current%20Report) This report details significant events, including financial results and exhibits, filed by Tamboran Resources Corporation [Item 2.02 Results of Operations and Financial Condition](index=2&type=section&id=Item%202.02%20Results%20of%20Operations%20and%20Financial%20Condition) Tamboran Resources Corporation announced its Q1 2025 financial and operating results via an earnings presentation and press release - The company issued an earnings presentation and press release on May 14, 2025, to announce its financial and operating results for the quarter ended March 31, 2025[3](index=3&type=chunk) - Information in this report and its exhibits is considered 'furnished' rather than 'filed' under Section 18 of the Exchange Act, limiting associated legal liabilities[4](index=4&type=chunk) [Item 9.01 Financial Statements and Exhibits](index=2&type=section&id=Item%209.01%20Financial%20Statements%20and%20Exhibits) This section enumerates the exhibits accompanying the Form 8-K report, including financial presentations and data files Exhibits List | Exhibit No. | Description | | :--- | :--- | | 99.1 | Earnings Presentation, dated May 14, 2025 | | 99.2 | Press Release, dated May 14, 2025 | | 104 | Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101) | [Signatures](index=3&type=section&id=Signatures) The report was officially authorized and signed by Chief Financial Officer Eric Dyer on May 14, 2025 - The report was signed on behalf of Tamboran Resources Corporation by Eric Dyer, Chief Financial Officer, on May 14, 2025[8](index=8&type=chunk)[10](index=10&type=chunk)

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q _________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (+61) 2 8330 6626 For the transition period from to Commission file number 001-42149 _________________________ Tamboran Resources Corporation (Ex ...

Group 1 - Proactive Investors provides fast, accessible, informative, and actionable business and finance news content to a global investment audience [2] - The news team covers medium and small-cap markets, as well as blue-chip companies, commodities, and broader investment stories [3] - Proactive focuses on sectors including biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto, and emerging digital and EV technologies [3] Group 2 - Proactive has a strong emphasis on technology adoption, utilizing various tools to enhance workflows [4] - The company employs automation and software tools, including generative AI, while ensuring all content is edited and authored by humans [5]

Revenue and Production - The company did not earn any revenue or other operating income during the three and six months ended December 31, 2024 and 2023, as it has not yet commenced natural gas production[139][151]. - The company anticipates that it will not generate revenue from production until 2026, depending on successful drilling results and additional capital funding[165]. Operating Costs and Expenses - Total operating costs and expenses for the three months ended December 31, 2024, were $15.0 million, an increase of 123% compared to $6.7 million in the same period of 2023[137]. - Compensation and benefits, including stock-based compensation, increased by $1.2 million (approximately 237%) for the three months ended December 31, 2024, compared to the same period in 2023, primarily due to restricted stock units granted and increased headcount[140]. - General and administrative costs increased by $1.2 million (approximately 75%) during the six months ended December 31, 2024, compared to the same period in 2023, due to increased expenses related to headcount and operational activities[159]. - The company recognized a loss on assets classified as held for sale amounting to $0.4 million during the six months ended December 31, 2024, compared to a loss of $0.03 million in the same period of 2023[154]. Cash Flow and Financial Position - As of December 31, 2024, the company had $59.4 million in cash and cash equivalents, a decrease of $15.3 million from June 30, 2024[170]. - For the six months ended December 31, 2024, net cash used in operating activities was $8.9 million, compared to $10.5 million for the same period in 2023, with a net loss of $22.3 million[184]. - Net cash used in investing activities for the six months ended December 31, 2024, was $35.8 million, up from $27.0 million in the prior year, primarily due to $42.1 million spent on exploration and evaluation activities[185]. - Net cash from financing activities was $31.4 million for the six months ended December 31, 2024, a decrease from $64.2 million in the same period of 2023[186]. Foreign Currency and Other Losses - The company recognized a foreign currency translation loss of $29.2 million for the three months ended December 31, 2024, compared to a gain of $13.7 million in the same period of 2023[149][161]. - The company incurred a net loss of $22.3 million for the six months ended December 31, 2024, which included non-cash impacts such as depreciation and amortization[184]. Future Commitments and Plans - The company expects to incur approximately $50.0 million in expenses to progress its development plans for the remainder of the fiscal year ending June 30, 2025[168]. - The company has capital commitments totaling $21.9 million for its subsidiary Sweetpea, with plans to develop and commercialize assets and incur expenses related to regulatory compliance[171][172]. - The Beetaloo Joint Venture has a commitment of $70.4 million for drilling and multi-stage hydraulic fracturing through May 2028[177]. - A renewal application for EP 136 was approved in July 2024, granting a five-year extension with a minimum work program commitment of $13.2 million[174]. Financing Activities - The company received $7.4 million in gross proceeds from the greenshoe option exercised in July 2024, contributing to financing activities[186]. - The company has $6.36 million in letters of credit issued under a Facility Agreement, with $18.64 million of unused credit under Facility A as of December 31, 2024[181]. Feasibility Studies - For the six months ended December 31, 2024, the company incurred expenses of $3.2 million related to LNG feasibility studies[157].

Financial Results Announcement - Tamboran Resources Corporation announced its financial results for the quarter ended December 31, 2024, on February 12, 2025[3] - The earnings presentation and press release are attached as Exhibits 99.1 and 99.2, respectively[3] Company Classification - The company is classified as an emerging growth company under the Securities Act of 1933[2] Financial Metrics - The report does not include specific financial metrics or performance indicators in the provided content[4]

Group 1 - Proactive news team operates in major financial hubs globally, including London, New York, Toronto, Vancouver, Sydney, and Perth [1] - The company specializes in medium and small-cap markets while also covering blue-chip companies, commodities, and broader investment stories [3] - Proactive employs experienced human content creators who utilize technology to enhance their workflows [4] Group 2 - The financial journalism team focuses on human-interest and macroeconomic content, covering sectors such as resources, biopharmaceuticals, technology, and blockchain since 2021 [5] - Proactive provides fast, accessible, informative, and actionable business and finance news to a global investment audience [5] - The company delivers news and insights across various markets, including biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto, and emerging digital and EV technologies [6] Group 3 - Proactive is committed to adopting technology and occasionally uses automation and software tools, including generative AI, while ensuring all content is edited and authored by humans [7][8]

Financial Results - Tamboran Resources Corporation announced its financial and operating results for the quarter ended September 30, 2024, on November 12, 2024[2]. - The earnings presentation and press release are attached as Exhibit 99.1 and Exhibit 99.2, respectively[2]. - The financial statements and exhibits are formatted as inline XBRL and contained in Exhibit 101[5]. Regulatory Compliance - The report is filed under the Securities Exchange Act of 1934, ensuring compliance with regulatory requirements[3]. - The company is classified as an emerging growth company under the Securities Act of 1933[1]. - The report was signed by Eric Dyer, Chief Financial Officer, on behalf of Tamboran Resources Corporation[6].

Financial Performance - The company did not generate any revenue during the three months ended September 30, 2024, as it has not yet commenced natural gas production [101]. - Total operating costs and expenses increased to $6.98 million for the three months ended September 30, 2024, compared to $4.32 million for the same period in 2023, representing a 61.2% increase [100]. - Net loss for the three months ended September 30, 2024, was $6.76 million, compared to a net loss of $3.75 million for the same period in 2023, indicating an increase in losses of 80.5% [100]. - Interest income, net increased by $0.7 million to $0.8 million for the three months ended September 30, 2024, compared to $0.1 million for the same period in 2023 [106]. - The company recognized a foreign currency translation gain of $12.1 million for the three months ended September 30, 2024, compared to a loss of $5.3 million for the same period in 2023 [107]. Cash Flow - As of September 30, 2024, cash and cash equivalents were $74.0 million, a decrease of $0.7 million from June 30, 2024 [114]. - Net cash used in operating activities was $4.15 million for the three months ended September 30, 2024, compared to $3.34 million for the same period in 2023 [120]. - Net cash used in investing activities was $14.5 million for the three months ended September 30, 2024, compared to $18.9 million for the same period in 2023 [122]. - Net cash from financing activities was $16.7 million for the three months ended September 30, 2024, compared to $34.4 million for the same period in 2023 [123]. Internal Controls and Compliance - As of September 30, 2024, the company did not maintain effective internal control over financial reporting due to a material weakness identified in its Annual Report for the year ended June 30, 2024 [127]. - The identified deficiencies in internal control include insufficient evidence of internal control performance, inadequate resources in key accounting roles, and lack of IT general controls over the cloud-based ERP system [128]. - The company is implementing a remediation plan with external consultants to improve its control environment and internal controls [129]. - The company cannot predict the success of its remediation plan or the outcome of its assessment at this time [130]. - The company continues to hire personnel with the required technical knowledge to ensure compliance with reporting requirements [129]. - The company has implemented a new enterprise resource planning system to support financial reporting and internal controls [129]. Risk Factors and Corporate Actions - There were no material changes in risk factors for the quarterly period ended September 30, 2024, compared to the previous annual report [135]. - No shares of the company's common stock were repurchased during the three months ended September 30, 2024 [135]. - The company has not adopted or terminated any trading arrangements by directors or officers during the quarter [136]. - The company is subject to a merits review regarding its environmental management plan, which could impact its operations [134].