St Barbara (SBM) Investor presentation summary

Simberi transaction and capital management

• Sale of the remaining 40% New Simberi interest to Lingbao for A$453m plus royalties: A$410m cash at completion and A$43m capital reimbursement.

• Royalties comprise 2.75% NSR on future New Simberi gold and silver production and 1.5% NSR on future minerals from Tabar Islands exploration licenses; both guaranteed by Lingbao’s listed entity.

• Completion targeted for Q3 March FY27, subject to PRC, PNG and shareholder approvals and no material adverse event; Lingbao to fund ongoing New Simberi cash calls from signing to completion.

• Unaudited cash was A$416m at 30 September 2026; transaction proceeds and reimbursement imply pro forma cash of A$869m, excluding listed investments.

• A$0.05/share fully franked dividend was paid 16 October; a further A$0.13/share dividend at completion and an on-market buyback of up to 100m shares are under consideration.

Nova Scotia development plans

• Following the sale, near-term activity centers on Touquoy Restart and development of the 15-Mile Processing Hub.

• Touquoy Restart targets 38koz recovered gold over 13 months, with C$11.4m initial capital; permits were amended, FID approved and ore processing is targeted to restart by end-CY26.

• Updated 15-Mile PFS outlines 1.44Moz reserves, a 13-year mine life, 1,377koz LOM recovered gold and LOM AISC of US$1,098/oz.

• At US$3,000/oz gold, 15-Mile post-tax NPV5 is A$1,705m and IRR 81.6%; at US$4,000/oz, post-tax NPV5 is A$2,721m and IRR 121.4%.

• 15-Mile initial capital is C$289m; feasibility study completion is targeted for Q3 March FY27, FID for June 2027 and production for FY30.

Exploration and project pipeline

• The 15-Mile plan combines four open pits with satellite deposits at Old Mitchell and Old Austen, reuses most of the Touquoy plant and targets production above 100kozpa over 13 years.

• Nova Scotia resources increased 24% to 2.5Moz; 46 exploration targets lie within 75km of the proposed hub.

• Q1 FY27 exploration programs include surface sampling, geophysical surveys and reprocessing/3D modelling; Old Austen down-plunge and Mill Shaft West are prioritized targets.

• The 15-Mile feasibility study and investment decision are planned for FY27, alongside environmental and social assessment work and permitting activities.