Richards Appointed CFO, Beach Energy

Australian oil and gas exploration and production company Beach Energy Limited has appointed Richard Richards the Chief Financial Officer of Seven Group Holdings Limited as a non‐executive director of Beach. Richards is a nominee of Seven Group Holdings Limited and related corporations who collectively have a relevant interest in 22.89 percent of the shares of Beach (Seven Group Holdings Limited).

Usual protocols and other arrangements appropriate to the appointment of a director representing a large shareholder have been agreed with Seven Group Holdings Limited and Richards to protect the confidential information of the Beach group, and address any potential conflicts of interest that may arise. If Seven Group Holdings Limited’s interest in Beach falls below 12.5 percent, Seven Group Holdings Limited will procure the resignation of Richards if requested by Beach.

Richards’ appointment as an alternate director to Mr Stokes has now ceased. Beach welcomes Mr Richards to the board.