Investor Presentaiton

Attractive medium-long term pricing outlook Higher gas sales and repricing of legacy volumes to deliver higher gas revenues beach East coast gas supply Re-contracted / re-priced volumes 100% 90% 80% Beach 70% average 60% realised 50% price: 40% FY19 30% $6.81/GJ 20% 10% 0% FY20 FY21 FY22 FY23 FY24 Legacy Pricing ■New Market Pricing 12 1. Source: 2019 Gas Statement of Opportunities, AEMO - March 2019.. Almost 80% of Beach's estimated FY24 east coast gas sales is expected to be sold at prevailing market prices • • • Lattice gas contracts have annual step-ups and CPI adjustments ahead of repricing events By FY22 more than 70% of Beach's east coast gas sales is expected to be re-priced or re- contracted Beach capital investment supported by market dynamics

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