Mr. Ian Rozier reports

BEACH REPORT ANNUAL PRODUCTION RESULTS, UPDATED RESERVES AND DRILLING ACTIVITIES. 100% SUCCESS RATE (INCLUDING BAUER 70) WITH PLANS TO EXTEND PLAY HORIZONS AND UNLOCK SCALE ON EX PEL 91

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. This information was reported by Beach Energy Ltd. in its 2026 annual report and fiscal 2026 results presentation, both dated Aug. 5, 2026. Beach reports on the Western flank, which includes ex-PELs 91, 106 and 107, and PRL 26, which are subject to the company's GOR, as well as licences ex-PELs 92, 104 and 111, over which the company does not have a GOR.

Production

Beach reports total Western flank production for the year was down 35 per cent from the prior year. Production was impacted by major Cooper basin flooding in 2025, as well as heavy rains in Beach's first quarter fiscal 2026 and natural field decline, partly offset by new well connections.

Reserves

Beach reports Western flank reserves and contingent resources effective as of June 30, 2026. Of the oil reserves reported, 45 per cent of its proven and 38 per cent of its proven plus probable Western flank reserves relate to the company's GOR licences. Of the gas reserves reported, 100 per cent of its 1P and 2P Western flank reserves relate to the company's GOR licences. Full details of Beach's reported reserves across all its holdings and operations can be found in Beach's annual report dated Aug. 5, 2026.

Drilling activities

Beach's 12-well oil appraisal and development campaign commenced during fiscal 2026, achieving a 100-per-cent success rate from nine wells drilled, including the quad-lateral Bauer 70 well.

Beach reported the Stunsail West 1 well encountered oil in the primary Namur and secondary McKinlay and Birkhead reservoirs. An oil-water contact in the Namur reservoir was consistent with the Stunsail field approximately one kilometre to the west, suggesting a continuous oil accumulation between the fields. Follow-up appraisal activity is being assessed to derisk a greater Stunsail development campaign.

Kangaroo 5, Kangaroo 6 and Spitfire 14 targeted the Birkhead reservoir, and Callawonga 24 Callawonga 25, Callawonga 26 and Stunsail 7 DW1 targeted the McKinlay reservoir. The Bauer 70 quad-lateral well targeted the McKinlay reservoir. The wells were cased and suspended as future producers.

In its second quarter fiscal 2027, Beach plans to complete the remaining three wells of the appraisal and development campaign, followed by an eight-well exploration campaign focused on play expansion and field life extension.

"The continued drilling success rate is very impressive, and we note that Beach intend to complete oil appraisal wells and connect remaining wells," stated Ian Rozier, president and chief executive officer of Newport.

"The completion of the exploration campaign to refresh inventory and to extend play horizons to unlock scale includes the Kalladeina 17, Kalladeina 18 and the Bauer 78 wells that are all on ex-PEL 91, a licence that is subject to Newport's GOR," stated Mr. Rozier, president and CEO of Newport.

About Newport Exploration Ltd.

Newport has a 2.5-per-cent GOR over licences 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. to keep current during exploration, development and potential production of all the licences subject to the company's GOR. Readers are cautioned that Beach discloses reserves and production results in compliance with Australian public disclosure rules, which may not be equivalent to disclosure obligations under National Instrument 51-101 (Standards of Disclosure for Oil and Gas Activities) and the Canadian oil and gas evaluation handbook, or other requirements of Canadian securities legislation.

The company currently has 105,579,874 common shares issued and outstanding, approximately $2.7-million in the treasury (composed of cash, cash equivalents and short-term investments), and no debt.

We seek Safe Harbor.