Slide 1: 2025 Full Year Financial Results
2025 Full Year Financial Result s Twelve months ended December 31, 2025 Invest or Pr esent at ion February 23, 2026
Slide 2: Contents & Disclaimer
Cont ent s & Disclaimer Forward-looking statements 1. Highlights This document contains certain “forward-looking statements”. The words “forecast”, “estimate”, “like”, “anticipate”, “project”, “opinion”, “should”, “could”, “may”, “target” 2025 Summary 3 and other similar expressions are intended to
Slide 3: 2025 Highlights
2025 Highlights Safety Production 0.33 SAFR 14.0 Mt Industry Average of 0.73 1 13.8Mt, 2024 FOB Cash Cost2 Underlying EBITDA3 88 US$ /t 385 US$ m US$89/t, 2024 US$700m, 2024 Dividend Net Debt 4 80 US$ m 33 US$ m 8.9 US cps US$26m, 2024 STANMORE | 2025 FULL YEAR RESULTS 3
Slide 4: Social Performance
Social Performance Mining remains crucial for regional Awar d-winning and Indigenous employment Indigenous Trainee Program 70% Regional Employment Providing economic contribution to the communities in which we operate Supporting communities through our Gr ant 132 A$ m Local Supplier Spend Pr ogr am
Slide 5: Operating Performance
Operating Per for mance
Slide 6: Consolidated Portfolio Performance
Consolidat ed Por t folio Per for mance All-time production record, delivered safely amid challenging operating conditions Safety Performance1 Production Strong safety performance maintained amid operational disruption from wet weather – • SAFR remained below industry 14.0 recordable injuries down 5
Slide 7: Asset Specific Performance
Asset Specifi c Per for mance Multiple records delivered across the portfolio Sout h Walker Cr eek Poit r el Isaac Plains Complex • Delivered record operational performance • Poitrel delivered a standout year, outperforming • Challenging year, with a strong second-half across all key physical metrics
Slide 8: Operational Financial Performance
Oper at ional Financial Per for mance Reduced cash costs year-on-year, driven by strong operational performance and cost saving initiatives FOB Cash Cost Walk-Forward Analysis2 (US$/t) 1.8 2.4 • FOB cash costs delivered within the lowered 90.8 2025 Guidance range, supported by a 89.4 strong second-h
Slide 9: Financial Results
Financial Result s
Slide 10: Financial Scorecard
Financial Scor ecar d Continued cash generation reinforces ongoing balance sheet strength Total Income 1 ,886 US$ m 2,496 US$ m 2024 • Resilient financial performance, despite Underlying EBITDA3 softer market conditions compared to prior 385 US$ m year 700 US$ m 2024 • Positive Underlying EBITDA mar
Slide 11: Cash Flow and Balance Sheet Analysis
Cash Flow and Balance Sheet Analysis Stable net debt maintained while continuing shareholder returns in a low-price environment Net Debt Walk Forward - 20254 (US$m, inverted) • Positive free cash flow (after leasing and debt service) despite softer market Strong net operating cash flow provides the f
Slide 12: Capital Expenditure Program
Capit al Expendit ur e Pr ogr am Capital expenditure returns to steady-state levels following a period of elevated reinvestment Capital Expenditure by Year • Step-down in capital spend in 2025 following the (US$m) elevated expansionary and improvement-focused -50% program started in late 2023 • The
Slide 13: Capital Management
Capit al Management Stanmore is committed to elevated shareholder returns whenever our capital allocation strategy allows Dividends and Capital Allocation by Year 10 (%) Growth in the proportion of dividends as a part of our capital allocation strategy has been supported by a return to steady-state
Slide 14: Guidance
Guidance Saleable Production, FOB Cost and Capital Expenditure Guidance for 2026 2025 Comparison14 Full Year 202615 Saleable Production • South Walker Creek continues its ramp-up Actuals Guidance Guidance towards its expanded capacity, supported by strong opening inventories • Poitrel volume expecte
Slide 15: FOB Cash Cost Walk Forward
FOB Cash Cost Walk For war d Proactive operational improvements to mitigate impact of lower volumes FOB Cash Cost Walk-Forward Analysis2,15 (US$/t) Uncontrollable Impacts • Uncontrollable factors such as higher average foreign exchange rates and inflation, continue 5 5 to put pressure on FOB Cash Co
Slide 16: Projects & Outlook
Projects & Out look
Slide 17: Focusing on Margins after Capital Investment Phase
Focusing on Mar gins aft er Capit al Invest ment Phase ‘Chase t he Blue’ strategy currently being investigated at South Walker Creek E-Pit Active Lower St r ip Focused Mar gin Rat io Reser ves Oper at ional Plan Maximisat ion + = F-Pit Unlocked by Low-cost dragline Enhanced free Future mining MRA2C
Slide 18: Value over Volume at Poitrel and Isaac Plains
Value over Volume at Poit r el and Isaac Plains Poitrel well positioned after investments; while Isaac Downs enters its twilight phase Poit r el Isaac Downs Focus on productivity and Value preservation as mining efficiency after record approaches economic limits performances • Five-year saleable pro
Slide 19: Replacing Capacity and Delivering Organic Growth
Replacing Capacit y and Deliver ing Or ganic Gr owt h Significant optionality for sustaining operations and further growth Isaac Downs Other Projects Ext ension Gr owt h & Sust aining Isaac Plains CHPP • Capital efficient life extension Eagle Downs project that delivers a +15-year mine • 1.6Bt Coal R
Slide 20: Metallurgical Coal Market Outlook
Metallurgical Coal Mar ket Out look
Slide 21: Our Customers and Product
Our Cust omer s and Pr oduct Stanmore maintains a diversified customer base in traditional and emerging markets Product Mix Customer Mix (2025, by Revenue) (2025, by tonnes) 4% 26% Europe 26% 39% JKT 70% India SEA 17% 12% 6% Other Coking PCI Thermal STANMORE | 2025 FULL YEAR RESULTS 21
Slide 22: Historical Pricing Analysis
Hist or ical Pr icing Analysis Prices remained rangebound throughout 2025, with a recovery around year-end Historical Metallurgical Coal Pricing (US$/t) PCI Relativity to PLV HCC (Monthly, %) 100% 350.0 90% 80% Supply recovery Strength in Indian 70% 300.0 following QLD wet demand and supply season i
Slide 23: Market Outlook
Mar k et Out look Sentiment is positive with supply tightness and improved economic conditions supportive of prices Queensland Metallurgical Coal Exports by Month China Steel Exports by Month • Queensland supply remains below (Mt, Annual Run-Rate) (Mt, Annualised) recent historical averages, with Br
Slide 24: Contacts
Cont act s Invest or s Investors@stanmore.net.au +61 (7) 3238 1000 Media Media@stanmore.net.au +61 (7) 3238 1000 Regist er ed Addr ess Level 32, 12 Creek Street Brisbane, QLD, Australia, 4000 GPO Box 2602 Brisbane, QLD, Australia, 4000
Slide 25: Glossary of Terms and Footnotes
Glossar y of Ter ms and Foot not es SAFR Serious Accident Frequency Rate, measured per 1. Latest 12-month average as of 30 September 2025 reported as of the date of this report by Resources Safety and Health Queensland for surface mines million hours (industry average used is a trailing 12- 2. FOB c