• St Barbara and Kumul Mineral Holdings sign binding agreement for Kumul to acquire 20% interest in Simberi Gold Project for A$100 million
• St Barbara's subsidiary to retain 80% ownership and manage the Simberi Joint Venture
• Agreement aligns with PNG Government's goal to secure greater ownership and benefits sharing from resource development projects

St Barbara Limited (ASX: SBM) has signed binding agreements with Kumul Mineral Holdings Limited ('Kumul'), the State Nominee for Papua New Guinea's ('PNG') share of minerals projects, for Kumul to acquire a 20% interest in the Simberi Gold Project ('Simberi') for A$100 million. This follows the Memorandum of Understanding (MOU) entered into in December 2024 between the two parties. St Barbara's subsidiary, Simberi Gold Company Limited, will retain ownership of the remaining 80% of Simberi and will be the Manager of the Simberi Joint Venture. The agreement meets the PNG Government's goal to secure greater ownership and benefits sharing from resource development projects in PNG. St Barbara and Kumul are also finalizing documentation for Kumul to farm-in to earn up to 20% of the Tabar Islands Exploration Licenses. The Agreed Kumul JV Transaction is subject to customary conditions precedent, including PNG regulatory approvals and St Barbara's final investment decision for the Simberi Expansion Project, which is targeted for Q3 FY26.

St Barbara and Kumul are committed to the long-term, productive joint development of the Simberi Expansion Project, which will be a key milestone for the company as it approaches a Final Investment Decision in Q3 FY26.