TBN · Tamboran Resources Corp

This amendment reflects a critical timing adjustment in Tamboran’s strategic transaction with Falcon Oil & Gas Ltd., governed by a Plan of Arrangement under British Columbia law. The extension acknowledges delays in securing essential U.S. regulatory clearance—specifically an amended license from the Office of Foreign Assets Control (OFAC)—and other governmental or regulatory approvals, which are explicit closing conditions. The automatic extension to June 30, 2026 is narrowly conditioned: it only applies if those specific regulatory hurdles remain unresolved and all other closing conditions (e.g., shareholder approvals, due diligence, financing) have been satisfied or are capable of being satisfied. This structure preserves deal certainty while allocating risk—parties forfeit termination rights if their own breach causes the delay. For investors, the amendment signals continued commitment to the arrangement but introduces near-term execution risk tied to U.S. sanctions compliance and foreign regulatory coordination. The absence of any modification to economic terms, governance provisions, or the underlying Plan of Arrangement suggests the core transaction economics and strategic rationale remain intact; however, prolonged uncertainty beyond June 30, 2026 could materially affect Tamboran’s capital allocation plans, Beetaloo project development timelines, and investor sentiment toward cross-border energy M&A execution capability.