Brightstar Resources (BTR) Investor presentation summary

Strategic growth and funding

• Pursuing a multi-asset strategy with two large-scale production hubs in Western Australia, targeting over 200,000 ounces of gold per annum by 2029.

• Raised A$193M in equity and US$120M in debt, providing A$387M in liquidity to fully fund Goldfields development and advance Sandstone to final investment decision.

• Institutional and retail shareholders strongly supported the capital raising, with no dilutive instruments or mandatory hedging in the debt structure.

Goldfields project: development and economics

• Goldfields DFS 2.0 outlines a 6-year production plan averaging 75koz per year, with a total of 457koz produced, underpinned by 351koz in Ore Reserves.

• Pre-tax NPV of $606M (base case) and $911M (spot), IRR of 74% and 106% respectively, and average annual free cash flow of $163M (base) and $236M (spot).

• LOM unit costs: C1 $2,581/oz, AISC $2,998/oz; payback period of 17 months from first gold.

• Construction of a new 1.5Mtpa CIL plant, expandable to 2.5Mtpa, with first gold targeted for June quarter 2027.

Sandstone project: scale and upside

• Sandstone hub hosts a 2.4Moz Mineral Resource at 1.5g/t Au, with 1.6Moz within 150m of surface and significant exploration upside.

• PFS underway for a 4–5Mtpa central processing facility, targeting FID in 2H 2027 and long-term resource growth to 3–4Moz.

• Over 100,000m drilled to date, with ongoing drilling and resource upgrades planned throughout 2026.