ASX Listing Rule Waiver

• ASX granted a waiver to St Barbara for amending employee incentive plan terms
• Waiver allows variation of exercise period and addition of dividend equivalent entitlement
• Amendments require St Barbara shareholder approval
• Changes aim to better align employee interests with shareholders

St Barbara Limited (ASX: SBM) has been granted a waiver by ASX to amend certain terms of its employee incentive plan. The waiver allows for variations to the exercise period of certain performance rights, retention rights, and project incentive performance rights, extending the exercise period from automatic vesting to a 15-year period from the grant date. Additionally, the waiver permits the addition of a dividend equivalent entitlement for participants who remain employed by the company while their rights remain unexercised. These changes are intended to better align the interests of employees with those of shareholders by reducing the incentive to sell shares to meet tax liabilities upon vesting. The amendments are subject to shareholder approval and will be detailed in a notice of meeting to be provided at the annual general meeting on 19 November 2026.