• Record gold production of 32,036oz, a 5% increase on the prior quarter
• Impressive half-on-half ramp up with 39% increase in production compared to 2H FY25
• Outstanding exploration results at Waihi, Little Gem/Riverina and Sand King

Ora Banda Mining Ltd (ASX: OBM) reported its activities for the December 2025 quarter, during which the company continued to show positive progress in production ramp-up, deliver exploration success, and take important steps in realizing its organic growth strategy. The company recorded record gold production (including attributable equivalent production) of 32,036oz, a 5% increase on the previous quarter, with 31,247oz of gold sold. This represents an impressive half-on-half ramp-up, with gold production increasing by 39% compared to 2H FY25. The company's YTD FY26 production and sales stood at 62,631oz and 62,583oz, respectively. Ora Banda also reported outstanding exploration results at Waihi, Little Gem/Riverina, and Sand King, providing an exciting pathway to future new mining developments. The company's cash position increased by $32.8 million over the quarter to $155.4 million, despite investing $57.9 million in capital projects, resource development, and exploration. Ora Banda also announced Board approval for key growth projects, including $10 million to progress the ~3Mtpa new processing plant, $30 million for pre-production capital at Waihi, and $23 million to upgrade accommodation capacity. As a result, the company has updated its FY26 capital guidance, with growth capital increasing to A$143 million. Additionally, the company has revised its FY26 AISC guidance to A$3,250/oz - A$3,350/oz, reflecting increased tonnage through third-party processing at a higher cost linked to the rising gold price.

FY26 Production guidance is retained at 140-155koz, although expected to be towards the lower end of the range. FY26 AISC guidance is revised to A$3,250/oz - A$3,350/oz (from A$2,800 - A$2,900), reflecting increased tonnage through third-party processing at a higher cost linked to the rising gold price.

The company continues to deliver its organic growth strategy, with production expected to increase in the second half of FY26 as mining volumes increase at both operations. The $73 million investment in exploration and resource development drilling across the project in FY26 continues to yield strong results, underpinning the recent decision to approve a number of additional capital growth projects.