FY26 Financial Results Summary

Closing Treasury balance of $939M underwrites 10cps fully franked dividend

PERTH, Western Australia, Aug. 28, 2026 /CNW/ -- Westgold Resources Limited (ASX: WGX) (TSX: WGX) – Westgold or the Company) is pleased to report its financial results¹ for the year ended 30 June 2026 (FY26). Additional information is provided in the Appendix 4E, FY26 Financial Results released today.

FY26 Highlights

Revenue up 79% to $2,441M (FY25: $1,360M) - driven by record annual gold production

Underlying EBITDA of $1,104M - at a competitive margin of 45% (FY25: $498M, 37%)

Underlying NPAT up 452% to$480M (FY25: $87M)

Operating cash flow up 170% to $964M (FY25: $357M)

Free cashflow up 11,940% to$602M (FY25: $5M)

Closing Treasury balance of $939M at 30 June (FY25: $364M)

Fully franked dividend of 10cps - 400% above the minimum annual dividend commitment of 2cps

$27M returned to shareholders via on-market buy-backs in FY26

$50M on-market share buy-back approved for FY27

Westgold is 100% debt free and fully unhedged

Westgold Managing Director and CEO Wayne Bramwell commented:

"FY26 was a landmark year for Westgold and delivered a strong outcome for shareholders. Record gold production, improved operating consistency and a favourable gold price drove record earnings, cash flow and treasury growth, strengthening our capacity to invest, grow and return capital.

We returned a record $122M to shareholders through dividends and share buybacks in FY26. Our new FY27 Shareholder Capital Return Policy builds upon this approach and provides a transparent and disciplined framework that balances reinvestment with sustainable capital returns.

Westgold is growth focussed and in regards to capital allocation, we will continue to allocate capital in FY27 to our largest and most productive assets, where investment is expected to lift production, improve operating leverage and support stronger free cash flow over time.

Our strategy and value proposition going forward is clear. We have a business of growing scale, balance sheet strength, asset quality and the team to create value while maintaining a clear focus on shareholder returns."

FY26 Key Consolidated Results

Westgold delivered record financial and operational results in FY26, reflecting the strong outputs from its expanding mining operations, continued investment in mine development and infrastructure, and exposure to a favourable gold price environment. 

Record annual gold production, higher realised gold prices and stable All-In-Sustaining-Costs drove substantial growth in earnings, cash flow and treasury, positioning the Company to fund its organic growth pipeline while increasing shareholder returns. Revenue increased to $2,441M, generating Underlying EBITDA of $1,104M, Underlying NPAT of $480M and Free Cash Flow of $602M during FY26. The figure below reconciles the Underlying EBITDA to the reported Statutory profit of $443M.

The Company produced a record 387,354oz during FY26, with strong contributions from both the Murchison and Southern Goldfields operations. Investment across the portfolio in mine development, infrastructure and fleet upgrades continued to improve operational flexibility and production capacity, positioning the business for further growth.

Despite ongoing industry inflation and elevated levels of mining and development activity across the portfolio, Westgold delivered a strong operating margin of 45% and generated $964M in operating cash flow during FY26. The Company continued to invest heavily in its future growth profile, with significant expenditure on mine development, exploration, infrastructure and growth capital projects designed to support future production growth and improved operating flexibility.

During FY26, Westgold invested approximately $362M in growth, development and exploration activities while also funding stamp duty payments for the Karora acquisition $76M, repaying $50M of outstanding debt, shareholder returns and portfolio optimisation initiatives.

Despite these investments, the Company generated a treasury build of $575M, finishing FY26 with a record Treasury balance of $939M while remaining 100% debt free and fully unhedged.

The Company also continued to simplify its asset portfolio during the year through the divestment of non-core assets and completion of the Valiant Gold Ltd demerger and initial public offering (ASX: VAL). These initiatives are intended to increase management focus on Westgold's cornerstone mining centres while unlocking value from projects outside its near-term development priorities.

Westgold continued advancing its organic growth pipeline throughout FY26. Development activities progressed across Bluebird-South Junction, Great Fingall and Beta Hunt, while studies continued to assess expansion opportunities capable of supporting higher future production rates. The Company remains focused on disciplined capital allocation, prioritising investment in high-return growth projects while maintaining balance sheet strength and delivering sustainable shareholder returns.

Reflecting Westgold's strong financial position, robust cash generation and confidence in the Company's growth outlook, the Board has declared a 10 cents per share fully franked final dividend, representing approximately $95M of shareholder returns. Together with approximately $27M invested in on-market share buybacks during FY26, Westgold returned approximately $122M to shareholders during the year.

To support ongoing and sustainable shareholder returns, the Company has also adopted a new Shareholder Capital Return Policy and approved a $50M on-market Share Buy-Back program for FY27. Further details are contained in the Dividend and Share Buyback Announcement released to the ASX today.

Looking ahead, Westgold expects to provide further updates on its growth strategy and outlook in the coming weeks, including the release of FY27 production and cost guidance and an updated Strategic Outlook on 9 September 2026. 

These updates are expected to outline the Company's pathway for continued growth, operational optimisation and long-term shareholder value creation.

Thisannouncement is authorised for release to the ASX by the Board.

Compliance Statements

Forward Looking Statements

These materials prepared by Westgold Resources Limited (or the "Company") include forward looking statements. Often, but not always, forward looking statements can generally be identified by the use of forward looking words such as "may", "will", "expect", "intend", "believe", "forecast", "predict", "plan", "estimate", "anticipate", "continue", and "guidance", or other similar words and may include, without limitation, statements regarding plans, strategies and objectives of management, anticipated production or construction commencement dates and expected costs or production outputs. 

Forward looking statements inherently involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance, and achievements to differ materially from any future results, performance, or achievements. Relevant factors may include, but are not limited to, changes in commodity prices, foreign exchange fluctuations and general economic conditions, increased costs and demand for production inputs, the speculative nature of exploration and project development, including the risks of obtaining necessary licenses and permits and diminishing quantities or grades of reserves, political and social risks, changes to the regulatory framework within which the Company operates or may in the future operate, environmental conditions including extreme weather conditions, recruitment and retention of personnel, industrial relations issues and litigation.

Forward looking statements are based on the Company and its management's good faith assumptions relating to the financial, market, regulatory and other relevant environments that will exist and affect the Company's business and operations in the future. The Company does not give any assurance that the assumptions on which forward looking statements are based will prove to be correct, or that the Company's business or operations will not be affected in any material manner by these or other factors not foreseen or foreseeable by the Company or management or beyond the Company's control.

Although the Company attempts, and has attempted, to identify factors that would cause actual actions, events or results to differ materially from those disclosed in forward looking statements, there may be other factors that could cause actual results, performance, achievements or events not to be as anticipated, estimated or intended, and many events are beyond the reasonable control of the Company. In addition, the Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of the factors outlined in the "Risk Factors" section of the Company's continuous disclosure filings available on SEDAR+ or the ASX, including, in the Company's current annual report, half year report or most recent management discussion and analysis.

Accordingly, readers are cautioned not to place undue reliance on forward looking statements. Forward looking statements in these materials speak only at the date of issue. Subject to any continuing obligations under applicable law or any relevant stock exchange listing rules, in providing this information the Company does not undertake any obligation to publicly update or revise any of the forward-looking statements or to advise of any change in events, conditions or circumstances.

SOURCE Westgold Resources Limited

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