• SLTIFR1 at 0.6 injuries per million hours worked
• Group underlying free cash flow of A$(328) million and net mine cash of A$129 million
• FY26 revised guidance of 1,600-1,700koz gold sold and AISC of A$2,600-2,800/oz

Northern Star Resources Ltd reported its December 2025 quarterly activities, with gold sold of 348koz at an AISC of A$2,937/oz. The company's SLTIFR was 0.6 injuries per million hours worked, and it generated group underlying free cash flow of A$(328) million with net mine cash of A$129 million. Due to one-off operational events across its assets, Northern Star revised its FY26 production guidance to 1,600-1,700koz (from 1,700-1,850koz) and AISC guidance to A$2,600-2,800/oz (from A$2,300-2,700/oz). The company's major growth projects, including the KCGM Mill Expansion and the Hemi Development Project, remain on track. FY26 group growth capital expenditure is forecast at A$1,140-1,200 million, with the KCGM Mill Expansion Project now expected to cost A$640-660 million (up from A$530-550 million) and the KCGM Mill Operational Readiness increasing to A$370-390 million (from A$315-370 million). Exploration expenditure remains unchanged at ~A$225 million for FY26.

FY26 revised guidance: 1,600-1,700koz gold sold and AISC of A$2,600-2,800/oz. Group Operational Growth Capital of A$1,140-1,220 million remains unchanged.

Northern Star remains focused on driving productivity improvements and strengthening cost discipline. The KCGM Mill Expansion and Hemi Development Project are expected to be the key enablers to achieving the company's goal of being a long-life, high margin, returns-focused global gold producer.