Northern Star Resources Ltd Operational Update Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Daniel Morgan - Barrenjoey Markets Pty Ltd - Analyst : First question is: What is embedded in the guidance for the remainder of the year for the [Super Pit Mill] throughput? (inaudible) about the risks around achieving that? Thank you.

Question: Daniel Morgan - Barrenjoey Markets Pty Ltd - Analyst : It sounds like, if I got this accurate, the mining productivity has been fine during the quarter and so you built a stockpile, if I get the numbers right, 1.1 million tons at 1.9 grams for 70,000 ounces on the ROM pad. I imagine that you'll shuffle that through during the March quarter?

Question: Daniel Morgan - Barrenjoey Markets Pty Ltd - Analyst : Yeah. Sure. That makes sense. Just the Pogo dilution, is there any reason to be for any longer-term concern or is this a short-term issue? Pogo has obviously been operating very well for quite a period of time. Just wondering how far this dilution travels, do you think?

Question: Daniel Morgan - Barrenjoey Markets Pty Ltd - Analyst : Thank you. Just last question on the materials handling system. Did you outline when you expect that to be fixed in the quarter? Ids that January quarter or is there still some outstanding items that have (inaudible) from that time on?

Question: David Radclyffe - Global Mining Research Pty Limited - Analyst : Hi. Good morning, Stuart and team. Happy New Year. My question is a little bit more -- given a number of the outages reported are maintenance-related, could you perhaps give us some more color on your approach to proactive maintenance; if this has changed; and whether these events point to maybe an increased focus is required across the group; or would you just characterize this as just a period where all the unplanned events just happened to come at one time?

Question: David Radclyffe - Global Mining Research Pty Limited - Analyst : Okay. Thank you. That's very clear. I'll pass it on. LSEG STREETEVENTS | www.lseg.com | Contact Us consent of LSEG. 'LSEG' and the LSEG logo are registered trademarks of LSEG and its affiliated companies. JANUARY 05, 2026 / 3:00AM, NST.AX - Northern Star Resources Ltd Operational Update

Question: Levi Spry - UBS AG - Analyst : Yeah. Good day, Stuart. Thanks for your time. Just a question on the second-half guidance. Can you just talk us through the assumptions behind the high end there? Maybe it's a process question. How would you get to nearly [1 million] ounces in the (inaudible)?

Question: Levi Spry - UBS AG - Analyst : Yeah. Okay. Thank you. And then, obviously, we talked about FY27 but the big value driver here is the plant. Can you just expand a little bit more on the commissioning in the first quarter?

Question: Levi Spry - UBS AG - Analyst : Maybe just one quick last one for Ryan. You mentioned the cash -- tax catch-up payment. What else is outstanding there? Is it just the (inaudible) stamp duty? When does that fall?

Question: Mitch Ryan - Jefferies LLC - Analyst : Morning, guys. Good afternoon. I just want to have you elaborate (inaudible) on the grade dilution in Pogo. Just trying to understand factors that led to that. Were there ground conditions? Was it blasting practices? Can you help us understand what it was?

Question: Hugo Nicolaci - Goldman Sachs Group Inc - Analyst : Hi, Stu, Ryan, Simon. Happy New Year. First one, on the production outlook -- and apologies to (inaudible) to the point -- I know you said you'll give that bit of guidance in a few weeks but given that you already put out the updated guidance for the rest of the year at the group level to market, is there a way maybe we can talk through that getting specifics, just what gives you confidence in achieving that range for the second half, in terms of what have you factored into further operational disruptions? We've seen a lot of weather impacts previously in March quarters. There was a disruption for that and the scope of the variability at KCGM. If you could give us some more color there?

Question: Hugo Nicolaci - Goldman Sachs Group Inc - Analyst : Great. Just to clarify then: (inaudible) any further throughput issues at KCGM, that should still be 500,000-plus ounces for the full year then?

Question: Hugo Nicolaci - Goldman Sachs Group Inc - Analyst : Got it. That's helpful. And then, just coming back to the cost piece, as well, obviously moving some of these costs around and these works -- and I appreciate, again, you'll give the cost guidance in a couple of weeks but if I think about it from a dollar-million perspective, have these disruptions meant that you will be spending more on aggregate, in terms of sustaining capital this year and so maybe there's a bit of upside risk to that $750 million for the year number that you've previously talked to?

Question: Hugo Nicolaci - Goldman Sachs Group Inc - Analyst : Got it. Yeah. Just to confirm then: Basically, it's really more denominator impact with a little bit here and there on the spending piece?

Question: Hugo Nicolaci - Goldman Sachs Group Inc - Analyst : Fantastic. Thank you for the questions.