Beach Energy Group Proceedings (Class Actions)

Group proceeding brought on behalf of certain persons who purchased shares in the defendant (Beach Energy). The lead plaintiffs are Edward John Nelson and Gail Christine Nelson.

The case is brought on behalf of those persons who acquired an interest in fully paid ordinary shares, or American Depository Receipts (ADR), in Beach Energy between 17 August 2020 and 29 April 2021 (inclusive) and in each case suffered loss or damage when Beach Energy downgraded its estimates of oil and gas assets in its Western Flank oil field on 30 April 2021, resulting in a fall in Beach Energy’s share price.

This group proceeding was previously managed together with a class action proceeding commenced by Mark Richard Sanders (S ECI 2022 00256).  The Honourable Justice Nichols held a hearing to determine which of the Nelson Proceeding or Sanders Proceeding would continue, and also heard group costs order applications by the plaintiffs in both proceedings on 19 May 2022.  On 11 August, her Honour made orders permanently staying the Sanders Proceeding (with the Nelson Proceeding to continue) and made a group costs order in the Nelson Proceeding.

Shareholders in Beach Energy were covered by both proceedings, and their claims will now be advanced only in the Nelson proceeding. There is no need for group members to take any action.

IMPORTANT INFORMATION ABOUT REGISTRATION AND OPTING OUT

If you are, or you think that you may be a group member, you should read the documents below carefully. The Notice (a copy of which is below) contains important information about your rights to: 

(1) register your claim in the proceeding
(2) opt out of the proceeding; or
(3) do nothing.

In summary, if you fall within the definition of a group member, you have three options:

OPTION 1 - REGISTER

In order to be eligible to receive any compensation if there is a settlement reached at the Court Ordered Mediation which must commence by 15 May 2026, you must register for the class action by 4:00pm AEDT on 7 November 2025. To participate in any such settlement, you must register your interest before the deadline.

To register, you must either:

• complete the online registration process available at:
  https://www.slatergordon.com.au/class-actions/current-class-actions/beach-energy-limited-class-action or
• complete and submit a Group Member Registration Form found at Schedule 1 of the Notice.

OPTION 2 – OPT OUT

If you do not want your rights determined by the class action, for example if you wish to bring your own proceeding against Beach Energy Limited independently, you must opt out of the class action by 4:00pm (AEDT) on 7 November 2025. If you opt out, your claim will not be resolved as part of the Beach Energy Class Action but you may pursue such rights as you may have independently.

To opt out, you must either:

• submit the required information in the Online Opt Out Notice; or
• complete the Opt Out Form found at Schedule 2 of the Notice and return a completed copy directly to the Registry of the Supreme Court of Victoria via email or post to the addresses on the notice. 

OPTION 3 - DO NOTHING

You may do nothing and remain a group member in the class action but, subject to further order of the Court, you will not be permitted to participate in any settlement reached at the Court Ordered Mediation. For further information about this option please refer to Option 3 of the Notice below.

The definition of a "group member" is set out in the Notice.

Notice to Group Members
Order of the Honourable Justice Nichols made 13 June 2025