Slides
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KCGM Site Visit August 2026
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2 ASX Listing Rule 5.19 and 5.23 Statement This announcement contains current estimates of Northern Star Group and KCGM Operations’ Ore Reserves and Mineral Resources. The information in this announcement that relates to the current Ore Reserves and Mineral Resources, and exploration results, has been extracted from Northern Star’s ASX release entitled “Resources and Reserves Update” dated 3 June 2026 available at www.nsrltd.com and www.asx.com (“Announcement”). Northern Star confirms that it is not aware of any new information or data that materially affects the information included in the Announcement other than changes due to normal mining depletion during the four month period to 2 August 2026, and, in relation to the estimates of Northern Star Group and KCGM Operations’ Ore Reserves and Mineral Resources, that all material assumptions and technical parameters underpinning the estimates in the Announcement continue to apply and have not materially changed. Northern Star confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the Announcement. Assumptions made in relation to the Ore Reserves and Mineral Resources underpinning the production targets in that announcement are (in summary): • Current operational capital and operating cost structures, • Current mining and metallurgical performance, • The gold price, exchange rate, dilution allowance and mining recovery rates are as set out in each prior public report referred to in ASX Listing Rule 5.19 disclosures, and • 5-year gold production profiles are based on 100% current JORC compliant Ore Reserves. These figures represent JORC 2012 Mineral Resources and Ore Reserves for the combined assets owned by Northern Star. Disclaimer and Forward-Looking Statements Northern Star Resources Ltd has prepared this announcement based on information available to it. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this announcement. To the maximum extent permitted by law, none of Northern Star Resources Limited, its directors, employees or agents, advisers, nor any other person accepts any liability, including, without limitation, any liability arising from fault or negligence on the part of any of them or any other person, for any loss arising from the use of this announcement or its contents or otherwise arising in connection with it. This announcement is not an offer, invitation, solicitation or other recommendation with respect to the subscription for, purchase or sale of any security, and neither this announcement nor anything in it shall form the basis of any contract or commitment whatsoever. This announcement may contain forward looking statements that are subject to risk factors associated with gold exploration, mining and production businesses. It is believed that the expectations reflected in these statements are reasonable but they may be affected by a variety of variables and changes in underlying assumptions which could cause actual results or trends to differ materially, including but not limited to price fluctuations, actual demand, currency fluctuations, drilling and production results, Resource or Reserve estimations, loss of market, industry competition, environmental risks, physical risks, legislative, fiscal and regulatory changes, economic and financial market conditions in various countries and regions, political risks, project delay or advancement, approvals and cost estimates. Rounding is applied in this presentation for the percentage comparisons and for all Ore Reserves and Mineral Resources figures. Mineral Resources are inclusive of Ore Reserves; and numbers are 100% NST attributable. Authorised to release to the ASX by Stuart Tonkin, Managing Director & CEO. Disclaimers MINERAL RESOURCES as at 31 March 2026 Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces NST ATTRIBUTABLE INCLUSIVE OF RESERVE (000's) (gpt) (000's) (000's) (gpt) (000's) (000's) (gpt) (000's) (000's) (gpt) (000's) NORTHERN STAR TOTAL 177,151 1.0 5,629 854,443 1.7 47,560 585,877 1.9 35,683 1,617,472 1.7 88,872 TOTAL RESOURCESMEASURED INDICATED INFERRED ORE RESERVES as at 31 March 2026 Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces NST ATTRIBUTABLE RESERVE (000's) (gpt) (000's) (000's) (gpt) (000's) (000's) (gpt) (000's) NORTHERN STAR TOTAL 160,186 0.8 4,280 467,024 1.6 24,139 627,210 1.4 28,419 PROVED PROBABLE TOTAL RESERVE
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3 KCGM: The Next Era Processing hub Renewables energy location Fimiston III TSF Thermal power station Fimiston II (G) TSF
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4 15Moz Ore Reserves Regional Growth Multiple ore sources 27Mtpa Processing Hub Integrated Mining Open Pit Underground Stockpiles 42Moz Mineral Resources Long Mine Life Multi-decade production A long-life, large-scale platform for long-term shareholder value Elevating KCGM to the next era The breakdown of KCGM Operations Mineral Resources and Ore Reserves is detailed in the appendix on page 27.
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5 Energy Efficiency Lower use Lower cost Processing Efficiency Simple to operate Simple to maintain Operating Efficiency More flexibility More value Building a lower-cost operation Designed to simplify the operation and reduce costs Structurally breaking the cost cycle
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6 • Fewer and larger units • Ease of maintenance • Systematic operation and tech-enabled Targeting significant reduction in processing cost per tonne at steady state (vs FY26)* Processing Efficiency Simple to operate Simple to maintain * On a real-cost basis, excluding future inflation assumptions. Steady state is expected to be achieved from FY29
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7 • Integrating multiple ore sources • Handling material once • Enhancing equipment productivity Unlocking a simpler, more productive mining system Operating Efficiency More flexibility More value
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8 • Introducing renewables • New thermal power station and distribution system • Utilising existing power station Improves operating economics with greater energy self-sufficiency and reduced emissions Energy Efficiency Lower use Lower cost Artistic impression of future renewable energy project
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9 Breaking the cost cycle Reduced exposure to future cost inflation Today Operational cost pressures Future Mill Processing efficiency Structural cost resets creating a sustainable cost advantage Persistent industry cost inflation Mine Operating efficiency Power Energy efficiency Structural cost advantage Northern Star cost path
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Delivering the Next Generation Ready for production. Positioned for growth.
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11 Ramp-up Optimise performance Introduce full ore blend Increase throughput Mill commissioning and processing Commissioning the expanded mill through a disciplined, staged ramp-up Commission Validate as-built Lower-grade feed Validate plant performance A disciplined commissioning approach establishes a reliable foundation for long-term processing performance Steady State Achieve steady state Improved recovery Lower unit cost delivery
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12 Expanded configuration – Early September tie-in New expansion infrastructure – 18Mtpa 27Mtpa front end New 27Mtpa Ball Mill 27Mtpa Fimiston processing plant Mt Charlotte – 4Mtpa ROM CSI Contract Stockpile SAG Mill Ball Mill Fimiston – 9Mtpa ROM Gyratory Crusher Stockpile SAG Mill Ball Mills Early September tie-in ROM Gyratory Crusher Stockpile SAG Mill 9Mtpa retained 18Mtpa new
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13 Operational readiness Preparing the organisation for safe, reliable operations Infrastructure Power | Water | Tailings Systems New Operating System | Maintenance | Logistics People Workforce | Training | Control Room + + Enables successful mill commissioning Ready to operate
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14 Simplifying the Open Pit Multiple Sources Four open pits in the larger Super Pit Optimise Mining efficiency through simplification Fimiston South Preparing the next phase of production Consists of Great Boulder and Ivanhoe cutbacks
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15 Scale and inventory underpins future open pit production 18Moz Mineral Resources 429Mt at 1.3g/t 8Moz Ore Reserves 182Mt at 1.4g/t The breakdown of KCGM Open Pit Mineral Resources and Ore Reserves is detailed in the appendix on page 27.
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16 Stockpiles provide mill feed security • Stockpiles add resilience • Ore handled once, reducing mine constraints • Less rehandling of stockpiles Future plant feed flexibility Improved efficiency Processing Facility Open Pit Southern Stocks Northern Stocks 153Mt at 0.6g/t Au 3.2Moz The breakdown of KCGM Stockpile Mineral Resources and Ore Reserves is detailed in the appendix on page 27.
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17 A two-mine underground strategy A mature foundation. A growing future. Mt Charlotte Foundation • Established production • Proven mining system • Reliable mill feed Fimiston Underground Growth • Expanding production • Next generation • Future growth engine
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18 Majority ore sources currently from Mt Charlotte At Fimiston Underground: • Grade expected to increase as volumes grow • Development activity remains high contributing to lower grade • 1Mt mined in FY26 of the 35Mt Ore Reserve • Higher-grade Resources provide upside potential through future Reserve conversion Fimiston Underground to drive improved grade profile 1.8g/t Ore Reserves 16Mt for 0.9Moz 2.2g/t Ore Reserves 35Mt for 2.5Moz As Fimiston Underground ramps up, its higher-grade Reserve base is expected to lift the overall underground mined grade The breakdown of KCGM Underground Ore Reserves is detailed in the appendix on page 27.
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Unlocking the next decade Extending mine life and supporting regional opportunities
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20 Converting discoveries into decades of production Extending mine life through Resource conversion Exploration Mineral Resource Growth Ore Reserve Conversion Future Mining Areas Added KCGM 27Mtpa Plant 0 50 100 150 200 250 300 2010 2011 2012 2013 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Metres (000’s) Exploration & Growth Metres Drilled Previous ownership NST The breakdown of KCGM Mineral Resources and Ore Reserves from each of the years 2022 to 2026 (inclusive) is detailed in the a ppendix on page 26. 10 11 12 13 14 15 2022 2023 2024 2025 2026 KCGM Ore Reserves (Moz) 20 25 30 35 40 45 2022 2023 2024 2025 2026 KCGM Mineral Resources (Moz)
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21 Regional growth opportunities 1,543km2 tenement package A district-scale mineral system supporting long-term growth around the expanded KCGM processing hub Near Mine: Extend existing operations Underground: Build future production Regional: Provide long-term optionality 27Mtpa processing platform unlocks value across the district over multi-decades Kalgoorlie district
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22 Future-proofing Core processing facility Potential to automate manual processes, reducing costs Integration of advanced technologies, increasing efficiency Faster drill-assay-data turnaround KCGM drilling continues to increase with district expansion Future-proofed to accommodate growing demand
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23 Fast and Accurate Laser-induced breakdown spectroscopy Advanced chemical analysis Partnered with detailed mineral libraries creates high-resolution mineral maps Delivers fast and accurate mineral quantification Supports rock-type determination and mineralisation characteristics Enhances geologists' decision making, consistency and models 20mm 47.6mm47.6mm Mineralogy
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24 • Creating one of the world’s largest integrated gold mining operations • A 27Mtpa processing hub delivering scale, flexibility and lower costs • A district with multiple pathways for decades of growth • Every future discovery is worth more on a larger, lower-cost platform • Positioned to create long-term shareholder value Summary We have built the platform. Now we unlock decades of value.
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The start of KCGM’s journey www.nsrltd.com
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26 Ore Reserves Summary – KCGM Operations – 2022 to 2026 (inclusive) Appendix Mineral Resources Summary – KCGM Operations – 2022 to 2026 (inclusive) ORE RESERVES as at 31 March 2022 Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces NST ATTRIBUTABLE RESERVE (000's) (gpt) (000's) (000's) (gpt) (000's) (000's) (gpt) (000's) KCGM Surface - - - 140,035 1.7 7,863 140,035 1.7 7,863 Underground - - - 17,839 2.0 1,174 17,839 2.0 1,174 Stockpiles 122,976 0.7 2,864 - - - 122976 0.7 2864 Gold in Circuit - - 25 - - - - - 25 Total KCGM 122,976 0.7 2,889 157,874 1.8 9,037 280,850 1.3 11,926 ORE RESERVES as at 31 March 2023 Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces NST ATTRIBUTABLE RESERVE (000's) (gpt) (000's) (000's) (gpt) (000's) (000's) (gpt) (000's) KCGM Surface - - - 145,883 1.7 8,169 145,883 1.7 8,169 Underground - - - 20,650 2.0 1,296 20,650 2.0 1,296 Stockpiles 119,808 0.7 2,730 107 1.4 5 119915 0.7 2735 Gold in Circuit - - 21 - - - - - 21 Total KCGM 119,808 0.7 2,752 166,640 1.8 9,469 286,448 1.3 12,221 ORE RESERVES as at 31 March 2024 Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces NST ATTRIBUTABLE RESERVE (000's) (gpt) (000's) (000's) (gpt) (000's) (000's) (gpt) (000's) KCGM Surface 0 0 0 159,230 1.6 7,955 159,230 1.6 7,955 Underground 0 0 0 33,273 2.0 2,151 33,273 2.0 2,151 Stockpiles 136,855 0.7 3,127 107 1.4 5 136962 0.7 3132 Gold in Circuit 0 0 28.426 0 0 0 0 0 28.426 Total KCGM 136,855 0.7 3,156 192,610 1.6 10,110 329,465 1.3 13,266 ORE RESERVES as at 31 March 2025 Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces NST ATTRIBUTABLE RESERVE (000's) (gpt) (000's) (000's) (gpt) (000's) (000's) (gpt) (000's) KCGM Surface 0 0 0 173,426 1.5 8,341 173,426 1.5 8,341 Underground 0 0 0 46,572 2.1 3,162 46,572 2.1 3,162 Stockpiles 143,975 0.6 2,914 0 0.0 0 143975 0.6 2,914 Gold in Circuit 0 0 23.206 0 0 0 0 0 23.206 Total KCGM 143,975 0.6 2,937 219,998 1.6 11,503 363,973 1.2 14,441 ORE RESERVES as at 31 March 2026 Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces NST ATTRIBUTABLE RESERVE (000's) (gpt) (000's) (000's) (gpt) (000's) (000's) (gpt) (000's) KCGM Surface 0 0 0 181,532 1.4 8,359 181,532 1.4 8,359 Underground 0 0 0 50,993 2.1 3,417 50,993 2.1 3,417 Stockpiles 135,347 0.7 3,019 18106 0.3 180 153453 0.6 3,199 Gold in Circuit 0 0 21.565 0 0 0 0 0 21.565 Sub-Total KCGM 135,347 0.7 3,040 250,631 1.5 11,956 385,979 1.2 14,997 TOTAL RESERVE PROVED PROBABLE TOTAL RESERVE PROVED PROBABLE TOTAL RESERVE PROVED PROBABLE TOTAL RESERVE PROVED PROBABLE TOTAL RESERVEPROVED PROBABLE MINERAL RESOURCES as at 31 March 2022 Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces NST ATTRIBUTABLE INCLUSIVE OF RESERVE (000's) (gpt) (000's) (000's) (gpt) (000's) (000's) (gpt) (000's) (000's) (gpt) (000's) KCGM Surface - - - 219,505 1.8 12,385 99,288 1.3 4,309 318,792 1.6 16,694 Underground - - - 49,440 2.2 3,497 54,758 2.4 4,277 104,198 2.3 7,774 Stockpiles 122,976 0.7 2,864 - - - - - - 122,976 0.7 2,864 Gold in Circuit - - 25 - - - - - - - - 25 Total KCGM 122,976 0.7 2,889 268,945 1.8 15,882 154,046 1.7 8,586 545,967 1.6 27,357 MINERAL RESOURCES as at 31 March 2023 Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces NST ATTRIBUTABLE INCLUSIVE OF RESERVE (000's) (gpt) (000's) (000's) (gpt) (000's) (000's) (gpt) (000's) (000's) (gpt) (000's) KCGM Surface - - - 228,661 1.7 12,859 91,838 1.4 4,046 320,499 1.6 16,904 Underground - - - 54,860 2 3,535 69,485 2.3 5,144 124,345 2.2 8,679 Stockpiles 119,808 0.7 2,730 - - - - - - 119,808 0.7 2,730 Gold in Circuit - - 21 - - - - - - - - 21 Total KCGM 119,808 0.7 2,752 283,521 1.8 16,394 161,323 1.8 9,190 564,652 1.6 28,335 MINERAL RESOURCES as at 31 March 2024 Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces NST ATTRIBUTABLE INCLUSIVE OF RESERVE (000's) (gpt) (000's) (000's) (gpt) (000's) (000's) (gpt) (000's) (000's) (gpt) (000's) KCGM Surface 0 0 0 263,295 1.5 12,619 174,475 1.1 6,239 437,770 1.3 18,858 Underground 0 0 0 73,354 2.0 4,735 66,900 2.3 4,890 140,254 2.1 9,624 Stockpiles 136,855 0.7 3,127 0 0 0 0 0 0 136,855 0.7 3,127 Gold in Circuit 0 0 28 0 0 0 0 0 0 0 0 28 Total KCGM 136,855 0.7 3,156 336,649 1.6 17,353 241,375 1.4 11,129 714,879 1.4 31,638 MINERAL RESOURCES as at 31 March 2025 Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces NST ATTRIBUTABLE INCLUSIVE OF RESERVE (000's) (gpt) (000's) (000's) (gpt) (000's) (000's) (gpt) (000's) (000's) (gpt) (000's) KCGM Surface 0 0 0 326,773 1.4 15,151 163,233 1.1 5,670 490,006 1.3 20,821 Underground 0 0 0 71,517 2.0 4,699 130,784 2.5 10,409 202,301 2.3 15,108 Stockpiles 143,975 0.6 2,914 0 0 0 0 0 0 143,975 0.6 2,914 Gold in Circuit 0 0 23 0 0 0 0 0 0 0 0 23 Total KCGM 143,975 0.6 2,938 398,290 1.6 19,850 294,017 1.7 16,079 836,282 1.4 38,867 MINERAL RESOURCES as at 31 March 2026 Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces NST ATTRIBUTABLE INCLUSIVE OF RESERVE (000's) (gpt) (000's) (000's) (gpt) (000's) (000's) (gpt) (000's) (000's) (gpt) (000's) KCGM Surface 0 0 0 297,350 1.4 13,279 131,875 1.1 4,487 429,225 1.3 17,766 Underground 0 0 0 119,619 1.9 7,274 202,898 2.1 13,930 322,518 2.0 21,204 Stockpiles 135,346 0.7 3,019 18105.8 0.31 180.455 0 0 0 153,452 0.6 3,199 Gold in Circuit 0 0 21.79 0 0 0 0 0 0 0 0 21.79 Sub-Total KCGM 135,346 0.7 3,041 435,075 1.5 20,734 334,773 1.7 18,417 905,195 1.4 42,191 MEASURED INDICATED INFERRED TOTAL RESOURCES MEASURED INDICATED INFERRED TOTAL RESOURCES MEASURED INDICATED INFERRED TOTAL RESOURCES MEASURED INDICATED INFERRED TOTAL RESOURCES MEASURED INDICATED INFERRED TOTAL RESOURCES
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27 Appendix KCGM Operations Mineral Resources Summary as at 31 March 2026 KCGM Operations Ore Reserves Summary as at 31 March 2026 MINERAL RESOURCES as at 31 March 2026 Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces NST ATTRIBUTABLE INCLUSIVE OF RESERVE (000's) (gpt) (000's) (000's) (gpt) (000's) (000's) (gpt) (000's) (000's) (gpt) (000's) KCGM Surface Mt Percy 1,320 1.1 47 31,439 0.9 887 32,759 0.9 934 Fimiston 296,030 1.4 13,233 100,436 1.1 3,600 396,466 1.3 16,832 Surface Total - - - 297,350 1.4 13,279 131,875 1.1 4,487 429,225 1.3 17,766 Underground Fimiston 58,839 2.2 4,197 150,085 2.4 11,404 208,924 2.3 15,601 Mt Charlotte 60,781 1.6 3,077 52,813 1.5 2,526 113,594 1.5 5,603 Underground Total - - - 119,619 1.9 7,274 202,898 2.1 13,930 322,518 2.0 21,204 Stockpiles 135,346 0.7 3,019 18,106 0.3 180 - - - 153,452 0.6 3,199 Gold in Circuit - - 22 - - - - - - - - 22 Sub-Total KCGM 135,346 0.7 3,041 435,075 1.5 20,734 334,773 1.7 18,417 905,195 1.4 42,191 INDICATED INFERRED TOTAL RESOURCESMEASURED For more information regarding the Mineral Resources and Ore Reserves estimate for the KCGM Operations (including competent persons statements): as at 30 March 2022, refer to the Company’s ASX announcement titled ‘Resources, Reserves and Exploration Update’ dated 3 May 2022; as at 30 March 2023, refer to the Company’s ASX announcement titled ‘Resources, Reserves and Exploration Update’ dated 4 May 2023; as at 31 March 2024, refer to the Company’s ASX announcement titled ‘Resources, Reserves and Exploration Update’ dated 2 May 2024; as at 31 March 2025, refer to the Company’s ASX announcement titled ‘Resources, Reserves and Exploration Update’ dated 15 May 2025; and as at 31 March 2026, refer to the Company’s ASX announcement titled ‘Resource and Reserves Update’ dated 3 June 2026. available on the Company’s website (at www.nsrltd.com) and the ASX website (at www.asx.com.au). ORE RESERVES as at 31 March 2026 Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces NST ATTRIBUTABLE RESERVE (000's) (gpt) (000's) (000's) (gpt) (000's) (000's) (gpt) (000's) KCGM Surface Fimiston - - - 181,532 1.4 8,359 181,532 1.4 8,359 Surface Total - - - 181,532 1.4 8,359 181,532 1.4 8,359 Underground Fimiston - - - 35,062 2.2 2,489 35,062 2.2 2,489 Mt Charlotte - - - 15,931 1.8 928 15,931 1.8 928 Underground Total - - - 50,993 2.1 3,417 50,993 2.1 3,417 Stockpiles 135,347 0.7 3,019 18,106 0.3 180 153,453 0.6 3,199 Gold in Circuit - - 22 - - - - - 22 Sub-Total KCGM 135,347 0.7 3,040 250,631 1.5 11,956 385,979 1.2 14,997 TOTAL RESERVEPROVED PROBABLE