• Record production at Mining Area C and South Flank
• Gold offtake contracts deliver record ounces and net revenue margins
• Trident portfolio exceeding expectations

Deterra Royalties Ltd delivered a strong set of FY25 financial results, underpinned by record production at its flagship Mining Area C (MAC) asset and continued outperformance from its gold offtake contracts. MAC volumes reached new highs, with South Flank exceeding its nameplate capacity in its first full year of operation. This drove a $20 million capacity payment to Deterra. The company's gold offtake contracts also generated a record $21.5 million in net revenue margins on the back of strong gold prices and volatility. Deterra's counter-cyclical investment in the Trident portfolio continued to exceed expectations. The company also saw significant progress on the Lithium Americas Thacker Pass project, which secured $3.5 billion in funding and announced a Final Investment Decision, targeting first production in CY2027. Deterra's financial position remained robust, with net debt at 10% of enterprise value and $205 million in undrawn credit facilities. The company returned $116 million in fully franked dividends to shareholders, representing a 75% payout ratio of net profit after tax.

Deterra expects to continue delivering strong financial results in FY26, with record production at Mining Area C and ongoing contributions from its gold offtake contracts. The company's leverage ratio is targeted to remain within the 0-15% range.

Deterra remains focused on its patient and disciplined approach to investing in value-accretive opportunities across the non-precious commodities sector. The company will continue to balance shareholder returns through dividends with the capacity to fund future growth initiatives and maintain a strong balance sheet.