St Barbara (SBM) Investor Presentation summary

Capital raising and use of proceeds

• Institutional placement to raise approximately A$58 million through the issue of 126.1 million new shares, representing 11.6% of shares on issue, at A$0.46 per share, a 9.7% discount to the 10-day VWAP.

• Proceeds will fund Simberi Expansion Project, including mobile fleet expansion, feasibility studies, geotechnical drilling, construction camp, Nova Scotia PFS and permitting, and working capital.

• Placement is not underwritten; new shares will rank equally with existing shares.

• Strengthened balance sheet to provide flexibility during project funding discussions.

• Key dates: announcement and trading halt lifted on 7 October 2025, settlement on 10 October, and trading of new shares on 13 October 2025.

Operational and project updates

• Simberi operations in Papua New Guinea: FY26 gold production guidance of 54-70koz at AISC of A$4,000–4,400/oz; oxide production extended to FY28.

• Simberi Sulphide Expansion Project targets 200kozpa gold over 13 years (FY26–FY38), with initial capital of US$235 million and AISC of US$1,200–1,300/oz.

• Final investment decision for Simberi Expansion expected late 2025 or early 2026, contingent on tax and mining lease approvals.

• Atlantic Projects in Nova Scotia: 15-Mile Processing Hub Concept Study targets 100kozpa gold over 11 years, with initial capex of C$251 million.

• Updated PFS for 15-Mile Hub underway; permitting environment in Nova Scotia has improved, and Touquoy plant restart is being investigated.

Mineral resources and reserves

• Simberi Operations: 44.3Mt @ 1.8g/t for 2.6Moz Au in ore reserves; 110.7Mt @ 1.4g/t for 4.9Moz Au in mineral resources.

• Atlantic Operations: 38.3Mt @ 1.1g/t for 1.4Moz Au in ore reserves; 56.5Mt @ 1.1g/t for 2.0Moz Au in mineral resources.

• Simberi silver ore reserves total 4.68Moz; mineral resources total 12.55Moz.