Investor Presentaiton

Western Flank Oil Bauer (Beach 100% interest) - keeps on getting bigger Top reservoir map (pre-2018 appraisal campaign) Top reservoir map (pre-2019 appraisal campaign) 336000 336500 337000 337500 338000 338500 339000 339500 336000 336500 337000 337500 338000 338500 339000 339500 Bauer NW-2 Significant volume add resulting from 2018 Appraisal Campaign Bauer N-2 Upside area to be addressed by 2019 Appraisal Campaign Symbol Legend Existing Oil Well Existing Hz Oil Well 2018 Appraisal Well 2019 Appraisal Well 2019 Planned Development Well 2019 Planned Hz Oil Well beach Success of the Bauer appraisal strategy . • Flat structural relief means seismic is of limited value in defining field extent ⚫ In FY19 Beach appraised "through the drill bit" • • Four step-out appraisal wells in Bauer discovered an easterly extension to the field ⚫ Further appraisal is required at Bauer to define the field structure, remaining oil potential and full field development . ⚫ In FY20 Beach plans on drilling 8 appraisal wells at Bauer and 15 development wells, including 7 horizontal wells . . Further recent appraisal success at Bauer North West-2 and Bauer North-2, coming in 6 metres and 8 metres high to prognosis respectively. Field remapping to follow completion of appraisal campaign and reserves updated at the end of FY20 17 336000 336500 337000 337500 338000 330500 339000 339500 336000 336500 337000 337500 338000 338500 339000 339500

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