Mr. Ian Rozier reports

CLARIFIYING NEWS RELEASE - BEACH REPORT ANNUAL PRODUCTION RESULTS, UPDATED RESERVES, AND PROPOSED FY26 DRILLING PROGRAM

Newport Exploration Ltd. has clarified its previous news release dated Aug. 6, 2025. Newport has provided an update on operations and reserves 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 2025 annual report and FY25 results presentation, both dated Aug. 4, 2025.

Beach reports on the Western flank, which includes ex PEL's 91, 106 and 107, and the Udacha block -- PPL 280, which are subject to the company's GOR, as well as licences ex PEL's 92, 104 and 111, over which the company does not have a GOR.

Production

Beach report total Western flank production for the year was 2.3 MMboe (million barrels of oil equivalent), a decrease of 33 per cent from the prior year.

The decrease in production was mainly due to natural field decline and production interruptions from flooding in the Western flank.

The company will update shareholders as soon as it is in receipt of any specific production forecasts for the GOR licences.

Reserves

Beach reports Western flank reserves and contingent resources effective as of June 30, 2025. Categories presented for reserves are 1P reserves (proved) and 2p reserves (proved and probable). Reported reserves have been independently audited by Netherland, Sewell and Associates Inc. in accordance with the definitions and guidelines contained within the Petroleum Resources Management System (PRMS) as set out in SPE Reserves Auditing Standards in Australia.

Beach report the following Western flank 1P reserves at June 30, 2025:

• Oil -- 4.7 MMboe (40 per cent is attributable to the company's GOR licences);
• Gas -- 1.2 MMboe (100 per cent is attributable to the company's GOR licences).

Beach report the following Western flank 2P reserves at June 30, 2025:

• Oil -- 11.6 MMboe (37 per cent is attributable to the company's GOR licences);
• Gas -- 1.5 MMboe (100 per cent is attributable to the company's GOR licences).

The company receives its GOR from Beach, which is not a reporting issuer in Canada, the reserves are not prepared in accordance with NI 51-101 -- Standards of Disclosure for Oil and Gas Activities and the COGE Handbook. The issuer is unable to confirm that the reserves and resources were prepared by a qualified reserves evaluator or auditor, in accordance with NI 51-101.

FY26 focus

Beach are targeting the commencement of a 10-well oil appraisal and development campaign targeting undeveloped McKinlay/Birkhead reserves in the second half of FY26, subject to flood recovery and final approvals. Planned drilling would be across the Bauer, Callawonga, Kalladeina and Snatcher fields. The key focus on operating efficiencies and cost savings before progressing to a final investment decision for the next oil exploration campaign.

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 currently has 105,579,874 common shares issued and outstanding and approximately $2.5-million in the treasury (comprised of cash, cash equivalents and short-term investments), and no debt.

We seek Safe Harbor.