Mr. Ian Rozier reports

BEACH ENERGY'S Q4 ACTIVITIES REPORT

Newport Exploration Ltd. has provided an update for licences in the Cooper basin, Australia, over which the company has a 2.5-per-cent gross overriding royalty (GOR). This information was reported by Beach Energy Ltd. in its FY25 fourth quarter activities report dated July 31, 2025.

Production

Highlights of the fourth quarter production from the Western flank as reported by Beach are as follows:

Production from the Western flank was 445,000 boe (barrels of oil equivalent), 19 per cent below the prior quarter (note: Western Flank includes the company's GOR licences ex PEL's 91, 106, 107 and PRL 26, as well as licences ex PEL's 92, 104 and 111, over which the company does not have a GOR), mainly due to flooding and natural field decline.

Western flank oil production of 301,000 bbl (barrels) was 25 per cent below the prior quarter.

Gas and gas liquids production of 144,000 boe was in line with the prior quarter.

Beach reported that the significant flood event in the Cooper basin is playing out and flood waters are beginning to recede slowly. However, Beach report that production will continue to be impacted during the first half of FY26. Beach reported that flooding across the region interrupted production from several fields. Current flood modelling indicates impacted wells may be progressively brought online during Q2 FY26.

Realized gas and oil prices

The average realized price of oil was $111 (Australian)/bbl, a 16-per-cent decrease over the prior quarter.

The average realized price of gas was $10.9 (Australian) per GJ (gigajoule), a 1-per-cent decrease over the prior quarter.

Beach report their average realized price across all products was $77 (Australian)/boe, a 10-per-cent decrease over the prior quarter.

Drilling activities

Beach report that the 10-well oil appraisal and development campaign scheduled to start in Q4 FY25 has been delayed due to the floods and the commencement of drilling is now expected in the second half of FY26 subject to flood waters subsiding and access roads reopening. The next phase of oil exploration drilling which may follow the appraisal and development campaign is also under consideration.

About Newport Exploration Ltd.

Newport has a 2.5-per-cent gross overriding royalty (GOR) over permits in the Cooper basin, Australia, operated by Beach. There is no time limit or expiry date on the GOR assets, and no cost to the company to retain them.

Newport has no control over operating decisions made by Beach. Accordingly, this prevents the company from commenting on Beach's operating plans going forward. The company recommends that shareholders and potential investors access material information relevant to the company as released independently by Beach and Santos Ltd. in order to keep current during exploration, development and potential production of all the licences subject to the company's GOR. The company receives its GOR from Beach, which is not a reporting issuer in Canada, therefore Newport is not able to confirm if the disclosure satisfies the requirements of NI 51-101 -- Standards of Disclosure for Oil and Gas Activities, or other requirements of Canadian securities legislation.

We seek Safe Harbor.