• Post-tax NPV5 of A$1,402 million and Post-tax IRR of 80.2% at US$3,000/oz gold price
• Stable 100+ koz production profile over 11+ years
• Initial capital of approximately C$283 million (A$308 million)

St Barbara Ltd has completed a Pre-Feasibility Study for the 15-Mile Processing Hub Project in Nova Scotia, Canada. The project has a post-tax payback of less than 1 year using a gold price of US$3,000/oz and generates cumulative post-tax free cash flow over the life of mine of A$2 billion. The project has an average annual gold production of 103 koz over an 11+ year mine life, based on Proved and Probable Ore Reserves only, without the inclusion of potential upside from Inferred Resources, Exploration Targets or future regional resource growth. The initial capital cost is approximately C$283 million (A$308 million) (+/-25% AACE Class 4 Estimate), leveraging existing Touquoy processing plant equipment. The project has low All-In Sustaining Costs ('AISC') averaging US$1,188 per ounce (A$1,824 per ounce), underpinned by fundamentals of low open pit strip ratios, strong recoveries from conventional free-milling ores, proven operating experience from Touquoy and costs shared across three mining areas. The project's design significantly reduces environmental and social impacts at each site compared to previous options after incorporating feedback from community, First Nations and regulators.

The Pre-Feasibility Study estimates a post-tax NPV5 of approximately C$1,286 million (A$1,402 million) with a post-tax IRR of approximately 80% using a gold price of US$3,000/oz.

St Barbara is well-positioned to take the Project to Environmental and Social Impact assessment processes over FY26 and in parallel with the Feasibility Study.