Northern Star Resources (NST) investor relations material

Project overview and strategic objectives

• Major investment in a 27 Mtpa processing hub consolidates operations, eliminates regional complexity, and enhances flexibility in mining and processing for efficient ore handling and stockpile utilization.

• Repurposing and centralizing facilities, including tailings storage and concentrate leaching, streamlines workflows and reduces complexity.

• Advanced engineering, automation, and fewer, larger units reduce labor, maintenance, and power intensity while improving performance.

• Ambition to halve processing costs by FY 2026 through operational efficiency and scale, with structural cost resets for sustainable cost advantage.

• The new model targets significant reductions in processing cost per tonne at steady state, expected from FY29.

Operational improvements and commissioning

• New plant design uses gravity flow to minimize pumping and energy use, with final commissioning underway.

• Transition from multiple fragmented plants to a single, world-class hub improves reliability and reduces rehandling.

• Upgraded mill motors, digital tools, and a new management structure support long-term operability, maintainability, and asset reliability.

• Stockpiles of 153 Mt at 0.6 g/t provide a production buffer, supporting up to six years of output without new mining.

• Integrated mining and processing support a long mine life and regional growth, with multi-source ore supply.

Energy strategy and sustainability initiatives

• Major investments in renewables include a 256MW wind farm, 110MW solar farm, 138/300MWh battery storage, and a new 120MW thermal power station, aiming to supply 80% of energy needs and reduce power costs by one third.

• MOU with state government and partners to enhance regional power reliability and black start capability.

• Only about 10% of future energy needs expected to require gas, further insulating from cost volatility.

• Reduced maintenance and simplified shutdowns decrease operational exposure to inflationary pressures.

• The energy strategy is integral to breaking the industry cost cycle and supporting long-term operational sustainability.