BEACH ENERGY LIMITED — Board/Management Information 2021

Nov 1, 2021

Beach Energy Limited (ABN 20 007 617 969) | Level 8, 80 Flinders Street Adelaide, South Australia 5000 GPO Box 175, Adelaide, South Australia 5001 | beachenergy.com.au

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ASX Announcement Departure of Managing Director

Reference #052/21 Date 2 November 2021

Beach Energy Ltd (ASX: BPT, "Beach") advises that Managing Director and Chief Executive Officer Matt Kay has tendered his resignation to the company’s board and is leaving Beach to pursue other professional opportunities.

Morné Engelbrecht – who is currently Chief Financial Officer – has been appointed acting Chief Executive Officer effective immediately while a search process is conducted to find a replacement.

Beach Energy Chairman Glenn Davis paid tribute to Mr Kay for his leadership in transforming the company into a strategically diverse business that is well positioned to deliver material gas production into the tightening Australian East Coast, New Zealand and international LNG markets.

“Over nearly six years, Matt delivered on the company’s growth ambitions via the strategic acquisition of Lattice Energy and oversaw the commencement of our current development programs in the Victorian Otway and Perth Basins,” Mr Davis said.

“I want to thank Matt for his efforts in helping transform Beach into the multi-basin upstream oil and gas company it is today. I wish him all the very best for his future endeavours.”

Mr Kay said given Beach’s current strong position, he felt now was an appropriate time to depart to pursue other professional opportunities.

“I was brought on board to help Beach grow from a single basin operator and diversify the business. This was capped off by the sanctioning of the Moomba Carbon Capture and Storage project this week,” Mr Kay said.

“I want to thank the entire Beach team for their efforts over the past six years. The company’s future is extremely bright and I wish Morné and the team all the best.”

Mr Davis said Mr Engelbrecht was well positioned to take over as acting Chief Executive Officer as Beach completes its gas growth program.

“Mr Engelbrecht has been the architect of Beach’s financial strength since joining the company as Chief Financial Officer in 2016 and is well placed to lead the company as we move towards our production target of 28 MMboe in FY24,” Mr Davis said.

Morné Engelbrecht, a senior executive with 20 years’ experience across various jurisdictions said he steps into the role focussed on ensuring key growth development projects in the Perth and Otway basins remain on track.

“Our strategy is set, and I look forward to continued delivery with the highly experienced, motivated and capable Beach leadership team,” Mr Engelbrecht said.

For further information contact the following on +61 8 8338 2833

Investor relations	Chris Morbey, Head of Investor Relations
Media	Rob Malinauskas, Head of Corporate Affairs and Community Relations

Beach Energy Limited | Moomba Carbon Capture and Storage Project reaches FID

Authorisation

This release has been authorised for release by the Beach Energy Board.

Disclaimer

This ASX Release contains forward looking statements that are subject to risk factors associated with oil, gas and related businesses. It is believed that the expectations reflected in these statements are reasonable but they may be affected by a variety of variables and changes in underlying assumptions which could cause actual results or trends to differ materially, including, but not limited to: price fluctuations, actual demand, currency fluctuations, drilling and production results, reserve estimates, loss of market, industry competition, environmental risks, physical risks, legislative, fiscal and regulatory developments, economic and financial market conditions in various countries and regions, political risks, project delays or advancements, approvals and cost estimates.

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