Mr. Ian Rozier reports

BEACH ENERGY'S Q1 ACTIVITIES REPORT

Newport Exploration Ltd. has provided an update for licences in the Cooper basin in 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 fiscal 2026 first quarter activities report dated Oct. 20, 2025.

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 National Instrument 51-101, Standards of Disclosure for Oil and Gas Activities, and the COGE (Canadian Oil And Gas Evaluations) Handbook or other requirements of Canadian securities legislation.

Production

Highlights of the first quarter production from the Western Flank as reported by Beach are as follows.

Production from the Western Flank was 371,000 barrels of oil equivalent, 16 per cent below the prior quarter (note: Western Flank includes the company's GOR licences ex-PELs 91, 106 and 107 and PRL 26 as well as licences ex-PELs 92, 104 and 111, over which the company does not have a GOR), mainly due the impacts of flooding and natural field decline.

Western Flank oil production of 247,000 barrels was 18 per cent below the prior quarter.

Gas and gas liquids production of 124,000 barrels of oil equivalent was 13 per cent below the prior quarter.

Beach reports that flooding across the region continues to impact production from the Western Flank. Floodwaters are slowly receding and Beach is progressively restoring production at affected wells. Flood impacts are expect to continue through Beach's Q2 fiscal 2026.

Realized gas and oil prices

The average realized price of oil was $113 (Australian) per barrel, a 2-per-cent increase over the prior quarter.

The average realized price of gas was $11.70 (Australian) per gigajoule, an 8-per-cent increase over the prior quarter.

Beach reports its average realized price across all products was $79 (Australian) per barrel of oil equivalent, a 2-per-cent increase over the prior quarter.

Drilling activities

Beach reports that the 10-well oil appraisal and development campaign is proposed to commence in late Q2 fiscal 2026, subject to floodwaters 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 GOR over licences in the Cooper basin in 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 $2.7-million in the treasury (comprising cash, cash equivalents and short-term investments) and no debt.

We seek Safe Harbor.