St Barbara (SBM) Investor presentation summary

Capital structure and financial position

• Market capitalization of A$702M with 1,209.8M shares on issue and a share price of A$0.58 as of May 2026.

• Unrestricted cash position of A$453M and restricted cash of A$83M for the Atlantic bond.

• No debt or hedging, and an equity investment of A$22M in Geopacific (14.3% ownership).

Project portfolio and development milestones

• New Simberi Gold Project (PNG, 40% ownership) targets >200kozpa at AISC of US$1,250/oz, with FID approved and construction underway.

• Nova Scotia Projects (Canada, 100% ownership) include Touquoy Restart (38koz over 13 months, FID approved) and 15-Mile Processing Hub (100kozpa over 11+ years at AISC US$1,188/oz).

• Fully funded after A$389M strategic investment from Lingbao; Kumul's 20% partnership aligns with government interests.

• Mining lease for New Simberi extended to 2038; Nova Scotia permitting environment improved.

Production outlook and growth

• Attributable gold production expected to increase over 200% in four years, surpassing 200kozpa after Nova Scotia ramp-up.

• Touquoy Restart offers low-capital, near-term production boost; significant exploration upside at both core projects.

• CAGR of 59% (FY25–FY29) with 15-Mile inclusion, outpacing most ASX gold peers.