Stanmore Resources (SMR) AGM 2026 summary

Opening remarks and agenda

• Meeting opened with administrative instructions, acknowledgment of traditional landowners, and a welcome outlining the order of proceedings.

• Directors, executive team, major shareholders, legal advisors, auditors, and share registrar representatives were introduced.

• Quorum confirmed and meeting formally declared open.

Financial performance review

• Record production achieved in 2025 despite coal prices falling to a four-year low and significant weather disruptions.

• Sellable production reached 14 million tons, with a strong second-half recovery.

• Underlying EBITDA was $385 million, free cash flow from operations $296 million, and closing cash $212 million.

• Statutory loss after tax of $47 million, mainly due to lower prices and non-cash items.

• Net debt remained low at $33 million, total liquidity $482 million, and CapEx normalized to $85 million.

Board and executive committee updates

• Three directors (Dwi Suseno, Marcelo Matos, Richard Majlinder) retired by rotation and offered themselves for re-election.

• Credentials and roles of directors up for re-election were detailed.

• Board comprises a mix of executive and non-executive directors, each chairing key committees such as sustainability, remuneration, health and safety, and audit and risk management.