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Investor Presentaiton

Targeted Full-Cycle Cost from EP 136 for Target Markets Darwin Northern Gas Pipeline Northern Territory 1 1 2023 - 2024 2 YE2025 3 2028+ Domestic & LNG Backfill --Future Jemena Pipeline Jemena bringing energy to life Cost Breakdown (1) Upstream Cost(2) Local NT Market SE Existing Infrastructure Wallumbilla Darwin ~$4.50 ~$3.00 ~$2.00 - $3.00 ~$2.00 - $3.00 $A per GJ Queensland Northern Territory ~$0.50 via McArthur River Pipeline Queensland Gas Pipeline 2 3 Wallumbilla Domestic Market ~$4.00 Existing Infrastructure Darwin LNG 250 Kilometres Industry-leading development costs and JV partnership with Jemena will enable Tamboran to be one of the lowest cost gas producers to the domestic market. via new Jemena Pipeline (1,000 TJ/d) Wallumbilla via new Jemena Pipeline (1,000TJ/d) Total (A$/GJ) ~$0.50 ~$2.00 ~$5.00 ~$7.00 ~$4.00 $5.00 ~$2.50 $3.50 Note: 1- Costs are in AUD and from Jemena and Tamboran estimates as of 1-June 2021, 2- Upstream cost includes capital and operating cost, 14
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