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stanmore 24 August 2026 HALF YEAR RESULTS Higher earnings and positive free cash flow support balance sheet resilience 1H 26 " Our operations delivered a safe and resilient first - half performance . Production was consistent with the prior corresponding period , despite a lower planned full - year production profile . With routine maintenance and an investment in stripping South Walker Creek complete , strong results from Poitrel , Isaac Plains Complex performing to plan , and overall healthy closing inventories , the business is well positioned to deliver on its reaffirmed full year Guidance . Free cash flow remained positive over the period , underpinned by increased earnings compared to the prior year from improved market conditions . Supply fragility is evident , demonstrated by China netback pricing returning to parity with FOB Australia pricing for the first time in two years . However , ongoing elevated Chinese steel exports , subdued Indian demand during the monsoon season and improving Australian supply have weighed against this improved backdrop early in the second half . The refinancing completed after the half - year end has reset our capital structure by lowering funding costs and removing scheduled term debt repayments . This provides greater capital allocation flexibility following a period of elevated reinvestment in the business , and positions Stanmore to advance its high - quality development portfolio . " Marcelo Matos Chief Executive Officer & Executive Director Highlights Twelve - month Serious Accident Frequency Rate of 0.51 , reflecting continued operational discipline and industry- leading safety performance Run of Mine ( ' ROM ' ) production of 9.1 million tonnes , consistent with the prior year and despite record rainfall in January from ex - tropical cyclone Koji and a deliberate focus on stripping in the second quarter Saleable production of 6.5 million tonnes , tracking within Guidance , with strong inventories supporting the second half Sales tonnes of 6.4 million tonnes , with FOB cash costs of US $ 101 per tonne , within the Revised Guidance range despite a second half weighted sales profile and cost headwinds from higher diesel pricing and a stronger Australian Dollar Underlying EBITDA of US $ 174 million , which is US $ 27 million higher than the prior year , with improved market conditions partially offset by higher costs Balance sheet remains conservatively geared with Net Debt of US $ 72 million , supported by ongoing positive cash flows from operating activities Corporate refinance completed after half - year end , with the term debt facility increased to US $ 250 million , scheduled repayments of US $ 70 million per annum removed , interest margin reduced by one per cent and the maturity profile of the undrawn revolving credit facility extended Isaac Downs Extension Environmental Impact Statement ( ' EIS ' ) submitted in June , a significant milestone on the project's approvals pathway stanmore 1