• FY26 production expected to be above 1.50Moz, dependent on KCGM mill throughput
• Ongoing operational challenges, including weaker milling performance and reduced mining productivity
• KCGM Mill Expansion Project on track for early FY27 commissioning

In January 2026, Northern Star announced revised guidance for production and costs for FY26. The company now believes that achievement of the lower end of full year production will be challenging due to weaker performance in the last two months. Northern Star faces significant ongoing operational challenges, particularly in maintaining throughput at required levels through the existing mill at KCGM. March quarter-to-date gold sales for the Group have been affected by a combination of weaker-than-planned milling performance at KCGM and reduced mining productivity across several operating areas, especially at Jundee. While several factors will continue to impact the full year result, the company's best estimate is that FY26 production will be above 1.50Moz, with the result particularly dependent on mill throughput at KCGM. The Board and Senior Management are mindful of the pressures building across the Group in pursuit of achieving guidance, and the focus over the next four months will be on setting the company up to achieve its full potential from the start of FY27. The KCGM Mill Expansion Project continues to progress well and remains on track for commissioning early FY27. At Jundee, the company is undertaking an operational review aimed at reducing costs and prioritizing higher-margin ounces. Northern Star also plans to release medium-term production, cost, and capital forecasts later this year.

FY26 production expected to be above 1.50Moz, dependent on KCGM mill throughput.

The company's focus over the next four months will be on setting the company up to achieve its full potential from the start of FY27, rather than solely on the achievement of short-term guidance.