• Simberi Expansion Project confirmed over 200,000 ounces per annum
• 15-Mile Processing Hub in Nova Scotia advancing with improved permitting
• Strategic alternatives being evaluated for Simberi and Atlantic assets

St Barbara Ltd's Chair's address and Managing Director's presentation to the 2025 Annual General Meeting highlighted continued progress on the Simberi Expansion Project in Papua New Guinea and the 15-Mile Processing Hub in Nova Scotia. The Simberi Expansion Project Pre-Feasibility Study confirmed over 200,000 ounces per annum of gold production with a 13-year life of mine plan. St Barbara has also advanced the permitting process, including the early renewal of the Simberi Mining Lease. In Nova Scotia, the company progressed the 15-Mile Processing Hub Concept Study, which confirmed strong project economics and reduced environmental impact. The improved permitting environment in Nova Scotia has also supported the potential re-opening of the Touquoy processing plant to process remaining stockpiles. During the year, St Barbara also evaluated strategic alternatives for the Atlantic assets, but no proposals were received that reflected the level of future value the company believes the 15-Mile Processing Hub can deliver. Going forward, the company will continue to assess strategic options and funding pathways for both the Simberi and Atlantic growth projects, with a focus on maximizing shareholder value.

FY26 guidance for Simberi is 54,000-70,000 ounces of gold at an AISC of A$4,000-A$4,400 per ounce. The Simberi Expansion Feasibility Study is nearing completion, with outcomes expected this quarter, and a Final Investment Decision is now targeted for Q3 FY26.

St Barbara's FY26 strategy focuses on advancing Simberi and Atlantic to decision points that maximise shareholder value. For Simberi, the company will carefully weigh any corporate interest against its ability to fund and progress the expansion independently. In Nova Scotia, the Pre-Feasibility Study for the 15-Mile Processing Hub remains on schedule for Q3 FY26, and the evaluation of the Touquoy stockpile opportunity will continue.