Delivering sustainable growth in shareholder value FY19 results: Record safety performance Record process safety performance Record production Statutory NPAT of 577 million Payback of 950 million in debt 4
Delivering on our strategy: With the community We are growing our contribution to the good of our broader stakeholders Supporting 38 community organisations, including: RFDS Port Campbell SLSC SAHMRI Zoos SA 5
Delivering on our strategy: Safely and environmentally consciously We are committed to playing our role in a lower emissions future Adopted recommendations from TCFD Commenced emission reduction projects Gas supplied by…
Our people Continuing to execute against our goal of delivering strong shareholder returns requires the best people 7
M AT T K AY Managing Directors Address
FY19: A year of accelerated growth FY19 highlights 447 million investment 134 wells drilled 84% overall drilling success rate 29.4 MMboe production Largest Australian oil producer Supplied more than 15% of Australian East…
Delivering on our promises Beach said. In FY19 Beach delivered FY19 production1 26 28 MMboe 29.4 MMboe FY19 capital expenditure1 460 540 million 447 million FY19 free cash flow2 290 million 559 million FY19 underlying EBITDA2…
Investing to accelerate production and free cash flow growth Beach is now targeting and cumulative free cash flow3 by accelerating investment in 3440MMboe annual production of more than 2.7 billion over our expanded growth portfolio…
FY20 guidance FY19 Reported1 FY19 Pro Forma1 FY20 Guidance Production 29.4 MMboe 26.2 MMboe 27 29 MMboe Capital Expenditure2 447 million 435 million 750 850 million Underlying EBITDA 1.375 billion 1.22 billion 1.25 1.40 billion…
FY20 capital expenditure guidance splits Investment focus remains on Cooper Basin and Victoria Increase in FY20 vs FY19 driven by Capital expenditure by type by asset group 5% Participation in up to 194 wells (FY18: 134 wells) 4% 14%…
Western Flank Oil Record year of investment and drilling activity planned in FY20 FY19 production FY20 proposed activities Western 200 million to be invested in Western Flank Flank Oil oil, a record for Beach 5.2 MMboe 29.4 Up to…
East coast gas supply Beach investing almost two thirds of growth capex into new East Coast gas supplies Southeastern Australia gas demand vs production1 600 SA Otway 500 Constructing 10 TJ/day Katnook gas facility 400 Supply…
Perth Basin Waitsia (Beach 50%), Beharra Springs (Beach 50%1 and operator) FY19 production FY20 Focus: Perth Basin Commence construction of Waitsia Stage 1 0.7 MMboe expansion 29.4 FID on Waitsia Gas Project Stage 2 targeting…
Frontier Exploration High Impact Exploration Targets in Portfolio Ironbark Carnarvon Basin (Beach 21% interest) Wherry Canterbury Basin (Beach 37.5% interest) Large liquids-rich gas prospect with follow-up potential Drilling planned…
Beach illustrative rig schedule1 Beach to employ 10 rigs in FY20, up from 5 in at the start FY19 H1 FY20 H2 FY20 H1 FY21 Non-operated rig (Santos operator) Non-operated rig (Santos operator) Cooper Basin JV Non-operated rig…
Beach as a growth company Beachs portfolio has substantial highly accretive investment opportunities More than 90% of investment commencing in FY20 is expected to generate 50% rates of return Increased investment is expected to…
Key takeaways Beach is ahead of schedule and delivering on its promises Expanded value-accretive portfolio (90% of growth projects deliver IRRs 50%) Ready to accelerate growth Strong balance sheet position (172 million cash at 30 June…
ANNUAL GENERAL MEETING Q&A
ANNUAL GENERAL MEETING Resolutions for Voting
Proxy Votes Beach has received 1,184,389,328 valid proxy votes Represents 51.97% of total votes 24
Financial Statements The first item of business is to receive and consider the financial statements and the reports of the directors and auditor for the financial year ended 30 June 2019 25
Resolution 1 Adoption of the Remuneration Report To consider and put to a non-binding vote the following resolution: That the remuneration report for the financial year ended 30 June 2019 be adopted. 26
Resolution 1 Adoption of the Remuneration Report Total Valid For Against Open-Usable Available Abstain Votes 1,159,076,867 20,017,189 5,295,272 1,184,389,328 2,453,748 Adoption of remuneration report 97.86% 1.69% 0.45%…
Resolution 2 Re-election of Philip Bainbridge as a director To consider and, if thought fit, pass the following resolution as an ordinary resolution: That Philip Bainbridge, who retires by rotation pursuant to clause 13.3 of the…
Resolution 2 Re-election of Philip Bainbridge as a director Total Valid For Against Open-Usable Available Abstain Votes 1,156,571,431 24,628,906 5,309,552 1,186,509,889 719,503 Re-election of Philip Bainbridge 97.47% 2.08%…
Resolution 3 Re-election of Colin Beckett as a director To consider and, if thought fit, pass the following resolution as an ordinary resolution: That Colin Beckett, who retires by rotation pursuant to clause 13.3 of the Beach…
Resolution 3 Re-election of Colin Beckett as a director Total Valid For Against Open-Usable Available Abstain Votes 1,115,066,925 65,730,838 5,314,539 1,186,112,302 1,117,090 Re-election of Colin Beckett 94.01% 5.54% 0.45%…
Resolution 4 Re-election of Peter Moore as a director To consider and, if thought fit, pass the following resolution as an ordinary resolution: That Peter Moore, who retires by rotation pursuant to clause 13.3 of the Beach…
Resolution 4 Re-election of Peter Moore as a director Total Valid For Against Open-Usable Available Abstain Votes 1,153,926,151 25,572,912 7,017,997 1,186,517,060 722,332 Re-election of Peter Moore 97.25% 2.15% 0.60%…
Resolution 5 Election of Matthew Kay as a director To consider and, if thought fit, pass the following resolution as an ordinary resolution: That Matthew Kay, who was appointed as a director subsequent to the last annual general…
Resolution 5 Election of Matthew Kay as a director Total Valid For Against Open-Usable Available Abstain Votes 1,168,298,148 12,482,608 5,383,669 1,186,164,425 1,064,967 Election of Matthew Kay 98.49% 1.05% 0.46% 100.00%…
Resolution 6 Election of Sally-Anne Layman as a director To consider and, if thought fit, pass the following resolution as an ordinary resolution: That Sally-Anne Layman, who was appointed as a director subsequent to the last…
Resolution 6 Election of Sally-Anne Layman as a director Total Valid For Against Open-Usable Available Abstain Votes 1,133,945,683 46,394,221 5,337,942 1,185,677,846 1,551,546 Election of Sally-Anne Layman 95.64% 3.91% 0.45%…
Resolution 7 Approval of the issue of securities to Matthew Kay under the Beach 2018 STI Offer To consider and, if thought fit, pass the following resolution as an ordinary resolution: That, for the purposes of ASX Listing Rule…
Resolution 7 Approval of the issue of securities to Matthew Kay under the Beach 2018 STI Offer Total Valid For Against Open-Usable Available Abstain Votes Approval of the 1,172,909,217 7,478,954 5,202,876 1,185,591,047…
Resolution 8 Approval of the issue of securities to Matthew Kay under the Beach 2019 LTI Offer To consider and, if thought fit, pass the following resolution as an ordinary resolution: That, for the purposes of ASX Listing Rule…
Resolution 8 Approval of the issue of securities to Matthew Kay under the Beach 2019 LTI Offer Total Valid For Against Open-Usable Available Abstain Votes Approval of the 1,170,570,495 9,625,551 5,333,143 1,185,529,189…
Resolution 9 Adopt a new constitution To consider and, if thought fit, pass the following resolution as an ordinary resolution: That for the purposes of sections 136(2) and 648G(4) of the Corporations Act 2001 (Cth) and for all…
Resolution 9 Adopt a new constitution Total Valid For Against Open-Usable Available Abstain Votes 1,176,837,886 2,320,581 5,628,066 1,184,786,533 2,442,859 Adopt a new constitution 99.32% 0.20% 0.48% 100.00% 43
ANNUAL GENERAL MEETING Questions and meeting close
Beach Energy Limited Level 8, 80 Flinders Street Adelaide SA 5000 Australia T: +61 8 8338 2833 F: +61 8 8338 2336 beachenergy.com.au Investor Relations Nik Burns, Investor Relations Manager Mark Hollis, Investor Relations Advisor T: +61…
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