• Lingbao Gold Group and Kumul Mineral Holdings Limited transactions progressing
• Key conditions precedent, including regulatory approvals, completed
• Final Investment Decision on New Simberi Gold Project expected in April 2026

St Barbara Limited has provided an update on the status of the Lingbao Gold Group ('Lingbao') and Kumul Mineral Holdings Limited ('Kumul') transactions, in relation to the New Simberi Gold Project announced in December 2025. The announcement outlines the status of satisfaction (or waiver, as applicable) of the conditions precedent in the Lingbao transaction agreements. The key conditions, including People's Republic of China (PRC) and Papua New Guinea (PNG) approvals, approval of the Simberi Mining Lease extension until 2038, and the transfer of subsidiaries holding St Barbara's Nova Scotia assets, have been completed. The agreement of the Life of Mine Plan (LOMP), Work Program and Budget for the New Simberi Gold Project is in progress, with a review of the updated LOMP by Lingbao and Kumul underway. The execution of the Kumul agreements and completion of the fifth and final agreement are also in progress. Completion of both the Lingbao and Kumul transactions is planned for the first days of April 2026, with the Final Investment Decision on the New Simberi Gold Project also triggered on the same date, under the terms of the respective agreements signed in December 2025. At completion, St Barbara will receive A$370 million in cash from Lingbao (inclusive of the deposit amount in escrow of $32 million).

The parties have been targeting the end of March quarter for completion, and St Barbara remains confident the remaining conditions will be met to allow completion on track in the first days of April 2026 and declaring Final Investment Decision on the New Simberi Gold Project.