St Barbara Limited - Updated Group Production and Cost Outlook

About this update from St. Barbara Ltd.

St Barbara Limited ('St Barbara' or the 'Company') (ASX: SBM) is pleased to provide a long term production and cost outlook incorporating the 40% attributable interest in the New Simberi Gold Project ('New Simberi') in Papua New Guinea and the 100% owned Nova Scotia Gold Projects (' Nova Scotia ') in Canada , which include the Touquoy Restart and 15- Mile Processing Hub Project . The production outlook combines the most recently approved Initial Life of Mine Plan ('ILOMP') for the New Simberi Gold Project which was completed concurrently with the Final Investment Decision ('FID') (announced on 2 April 20261 ), the Pre-Feasibility Study ('PFS') on 15- Mile Processing Hub Project released on 21 January 20262 and the Touquoy Restart released on 13 April 20263 . St Barbara Limited Managing Director and CEO Andrew Strelein said: 'St Barbara's recent breakthroughs with the Mining Lease Extension and now FID on the New Simberi Gold Project , the permitting of the Touquoy Restart and the impressive results of the 15-Mile Processing Hub Project Pre-Feasibility Study set up the Company for an attractive gold production CAGR of 59% lifting attributable production to over 190koz in FY30 and more than 200koz in FY31.' 'The Lingbao transaction ensures the Company is fully funded for development of these projects based on existing cash of more than A$500 million and cashflow from remnant Simberi oxides and the Touquoy Restart. This has been an incredible effort by the entire team with support from our partners and the relationships established with regulators in each jurisdiction through perseverance and ongoing engagement.' 15- Mile Processing Hub Project The Pre-Feasibility Study on the 15- Mile Processing Hub Project confirmed outstanding project economics and optimal environmental and social outcomes. The project has a post-tax payback of less than one year using a gold price of US$3,000 /oz and generates cumulative post-tax free cash flow over the life of mine ('LOM') of A$2 billion . Initial project capital is anticipated to be approximately US$201 million ( A$308 million ) (+/-25% AACE Class 4 Estimate), leveraging existing Touquoy processing plant equipment and funded from cash on hand and operating cash flow generated from New Simberi and the Touquoy Restart. The project is expected to have a competitive AISC averaging US$1,188 per ounce ( A$1,824 per ounce) over LOM; benefiting from low open pit strip ratios, strong recoveries from conventional free milling ores, proven operating experience from Touquoy and costs shared across three mining areas. Once the processing of Touquoy stockpiles is completed the processing plant is intended to be relocated to the 15-Mile site. Production from the 15- Mile Processing Hub Project is anticipated to be sourced solely from the four deposits at 15-Mile until Year 3 at which time Cochrane Hill ore mining and haulage commences. Beaver Dam ore mining and haulage is then anticipated to commence in Year 4. The mining sequence across the deposits has been optimised to deliver stable gold production profile over the life of mine while also balancing fleet requirements across the three sites. Contact: David Cotterell Email: [email protected] Tel: +61 3 8660 1959 Paul Ryan Tel: +61 409 296 511 (C) 2026 Electronic News Publishing, source ENP Newswire

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