Santana Minerals (SMI) AGM 2025 summary

Opening remarks and agenda

• Chairman welcomed attendees, introduced board members, and outlined the hybrid meeting format with both in-person and online participation.

• Meeting agenda included formal business, voting on resolutions, CEO presentation, and open Q&A.

• Annual General Meeting held in November 2025 with a focus on fast-tracking to construction.

Financial performance review

• Share price increased 55% over the financial year and an additional 65% since year-end, outperforming the gold price.

• NPV of A$2.4 billion and free cash flow of A$3.8 billion highlighted for the year.

• C1 cash cost at A$1,267/oz, AISC at A$1,842/oz, and AIC at A$2,132/oz.

• Market capitalization reached A$723 million as of November 2025, supported by strong gold prices and project progress.

• Cash at bank as of 31 October 2025 was A$92 million, net of payables.

Board and executive committee updates

• Emma Scotney re-elected as director, bringing expertise in corporate law, finance, and governance.

• Board chaired by Peter Cook, with Damian Spring as CEO and Executive Director.

• Board and management team recognized for their capability and alignment with shareholders, holding 7% of shares.

• Substantial ownership by NZ private and institutional investors.