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REGIS RESOURCES LIMITED Interim / Quarterly Report 2026

Feb 18, 2026

65733_rns_2026-02-18_d19f3be8-33ce-4303-8e4d-3dcf3198fd69.pdf

Interim / Quarterly Report

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Appendix 4D (Listing Rule 4.2A.3)

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Regis Resources Limited and its Controlled Entities

For the half-year ended 31 December 2025

(Previous corresponding period is the half-year ended 31 December 2024)

Results for Announcement to the Market

Resultsfor Announcement to the Market
Half-year ended Half-year ended Change
31 December 2025 31 December 2024
$’000 $’000 $’000 %
Revenue from ordinary activities
Profit from ordinary activities after tax
Profit attributable to members of the parent
1,088,054
322,752
322,752
777,280
88,446
88,446
310,774
234,306
234,306
40%
265%
265%

Dividend information

Dividend information
Amountper security Franking Date ofpayment
FY26 interim dividend 15.0 centsper share 100% franked 8 April 2026
FY25 final dividend 5.0 cents per share 100% franked 6 October 2025

The Dividend Reinvestment Plan remains suspended until further notice.

Net Tangible Assets

Net Tangible Assets
31 December 2025 31 December 2024
$ $
Net tangible assets per share 2.51 1.91

Control Gained or Lost over Entities during the Period

There have been no gain or loss of control over entities in the half-year ended 31 December 2025.

Financial Results

This report is based on the attached Condensed Consolidated Interim Financial Report for the half-year ended 31 December 2025, which has been reviewed by KPMG, and should be read in conjunction with the consolidated annual financial report as at 30 June 2025 and public announcements made subsequent to 31 December 2025.

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ABN 28 009 174 761

and its Controlled Entities

Condensed Consolidated Interim Financial Report

For the Half Year Ended 31 December 2025

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CONTENTS
Corporate Information 4
Directors’ Report 5
Auditor’s Independence Declaration 9
Consolidated Statement of Comprehensive Income 10
Consolidated Balance Sheet 11
Consolidated Statement of Changes in Equity 12
Consolidated Statement of Cash Flow 13
Notes to the Consolidated Financial Statements 14
Directors' Declaration 20
Independent Auditor’s Review Report 21

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CORPORATE INFORMATION ABN 28 009 174 761

Directors

James Mactier Independent Non-Executive Chairman Jim Beyer Chief Executive Officer and Managing Director Paul Arndt Independent Non-Executive Director Lynda Burnett Independent Non-Executive Director Fiona Morgan Independent Non-Executive Director Steve Scudamore Independent Non-Executive Director

Company Secretary Elena Macrides

Registered Office & Principal Place of Business

Level 2 516 Hay Street SUBIACO WA 6008

Share Register

Computershare Investor Services Pty Limited GPO Box D182 PERTH WA 6840

Regis Resources Limited shares are listed on the Australian Securities Exchange (ASX). Code: RRL.

Bankers

Commonwealth Bank of Australia Ground Floor, Tower 1 201 Sussex Street SYDNEY NSW 2000

The Hongkong and Shanghai Banking Corporation Limited Level 2, 10 Smith Street PARRAMATTA NSW 2150

Macquarie Bank Limited Level 23, 240 St Georges Terrace PERTH WA 6840

Natixis, Singapore Branch 5 Shenton Way, #23-01, UIC Building SINGAPORE 068808

Royal Bank of Canada Level 59, 25 Martin Place SYDNEY NSW 2000

Westpac Banking Corporation Level 3, Brookfield Place Tower 2 123 St Georges Terrace PERTH WA 6000

Auditor

KPMG 235 St Georges Terrace PERTH WA 6000

4

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DIRECTORS’ REPORT

The directors present their report of Regis Resources Limited (“Regis” or “the Company”) for the half-year ended 31 December 2025.

Directors

The names of the Company’s directors in office during the half-year and until the date of this report are set out below. Directors were in office for this entire period unless otherwise stated.

James Mactier .............. Independent Non-Executive Chairman Jim Beyer ...................... Chief Executive Officer and Managing Director Paul Arndt ..................... Independent Non-Executive Director Lynda Burnett ............... Independent Non-Executive Director Fiona Morgan ............... Independent Non-Executive Director Steve Scudamore .......... Independent Non-Executive Director

Review and Results of Operations

Safety

The 12-month moving average lost time injury frequency rate (LTIFR) was 0.34 at the end of the half-year. The LTIFR continues to be well below the WA gold industry average published by the WA Department of Mines, Industry Regulation and Safety.

Environment

No reportable environmental non-compliance or significant incidents have been reported in the half-year ended 31 December 2025.

Further information is available in the Company’s sustainability report, which is available at www.regisresources.com.

Results

Consolidated net profit after tax for the half-year was $322,752,000 (2024 half-year profit: $88,446,000).

Operating results for the Duketon and Tropicana (Regis 30% share) Gold Projects for the half-year ended 31 December 2025 were as follows:

2025 2024
Total
Duketon Gold Tropicana Gold Total Duketon Gold Tropicana Gold
Unit b December
Project Project (30%) Decemer Project Project (30%)
2025 2024
Ore mined (open pit)
Waste mined (open pit)
Stripping ratio
Capital development
Operating development
Ore mined (underground)
Total Ore mined
Ore milled
Head grade
Recovery
Gold production
All-in Sustaining Cost1
t
t
w:o
m
m
t
t
t
g/t
%
oz
A$/oz
1,005,096
9,825,277
10.2
3,475
4,411
1,074,761
2,079,857
4,207,901
0.96
89.0%
115,986
2,990
602,866

7,133,136

11.8

953

985

323,645

926,511

1,409,182

1.74

89.8%

70,931

2,536

1,607,962

1,303,713

5,962,091

4.6

3,380

2,776

656,983

1,960,696

3,640,876

1.11

89.0%

115,776

2,659
1,138,160
6,640,421
5.8
552
873
310,131
1,448,291
1,407,917
1.97
90.0%
80,025
1,958
2,441,873
12,602,512
5.2
3,932
3,649
967,114
3,408,987
5,048,793
1.35
89.4%
195,801
2,403

16,958,413

10.8

4,428

5,396

1,398,406

3,006,368

5,617,083

1.16

89.3%

186,917

2,850

Duketon Gold Project Operations

The Duketon Gold Project achieved half-year production of 115,986 ounces of gold at an all-in sustaining cost (“AISC”) of $2,990 per ounce (2024 half-year: 115,776 ounces of gold produced at an all-in sustaining cost of $2,659 per ounce).

1 All-in sustaining cost (“AISC”) per ounce is calculated as cash cost per ounce, plus royalties, amounts capitalised for production stripping costs, sustaining capital and corporate costs, divided by gold ounces produced. Net realisable value adjustments to inventories are not included in AISC above. The AISC measure is included to assist investors to better understand the performance of the business, is a non-IFRS measure, and where included in this report, has not been subject to review by the Group’s auditor.

5

Directors’ Report (Continued)

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Duketon Operations gold production was consistent with the previous corresponding period with higher throughput at a marginally lower grade.

AISC for the 2026 first half was $2,990 per ounce compared to the previous corresponding period of $2,659 per ounce primarily from higher proportion of lower grade stockpile feed.

Tropicana Gold Project Operations

The Tropicana Gold Project is 30% owned by Regis and is operated by joint venture partner AngloGold Ashanti Australia Limited (70%).

The Tropicana Gold Project achieved half-year production of 70,931 ounces of gold (at 30%) at an all-in sustaining cost of $2,536 per ounce.

The increase in AISC compared to $1,958 per ounce in the previous corresponding period was mainly driven by lower head grades and recovery rates, with total tonnes milled in line with the half-year ended 31 December 2024.

Corporate

Gold Sales

During the half-year ended 31 December 2025, the Company sold 182,327 ounces of gold at an average price of $5,968 per ounce (2024 halfyear: 197,690 ounces at an average price of $3,932 per ounce).

Dividend Paid and Declared

As a result of the strong economic performance in the financial year ended 30 June 2025, the Directors paid a fully franked final dividend of 5 cents per share, totalling $37.9M. The final dividend payment occurred on 6 October 2025.

Interim dividends declared by the Company to members since the half-year ended 31 December 2025 were (2024 half-year: Nil):

Cents Franked Total amount Date of
per share $’000 Payment
Ordinary shares 15.0c 100% 113,588 8 April 2026

Development

Garden Well Main Underground

The development approved project (new underground mine) was announced to the market on 6 May 2024[2] . The current Garden Well Main mining inventory comprises 36% Indicated Mineral Resources, 24% Inferred Mineral Resources, and 41% Exploration Target[3] , or as yet unclassified material, for 3.2Mt at 2.8g/t Au for 295koz contained gold at a 2.2g/t cut-off grade. The project started infrastructure development on 1 July 2024 and achieved first stope production ore in Q1 FY26 as planned. Commercial production is still planned to commence in H2 FY26 and is forecasting underground ore mining rates of up to ~900 ktpa. Garden Well Main has a steady state annualised gold Production Target4 of 60koz to 70koz from FY27.

Rosemont Stage 3 Underground

The development approved project (new underground mine) was announced to the market on 6 May 2024[2] .The Rosemont Stage 3 underground development is based on a mining inventory that comprises 30% Indicated Mineral Resources, 39% Inferred Mineral Resources

2 ASX release “Development Approval For Two Underground Mines and Underground Reserves Increase” dated 6 May 2024 and clarified in ASX announcement titled “Clarification – Regis’ Underground Growth Projects” dated 10 May 2024.

3 Exploration Target at Garden Well is extracted from ASX release “Mineral Resource and Ore Reserve Statement” dated 20 June 2023. The Garden Well Exploration Target is estimated to contain between 9Mt and 18Mt at a grade ranging between 2.3 g/t Au and 2.9 g/t Au across the deposit. The Exploration Target area includes the known Garden Well underground mineral system as well as potential down plunge depth extensions and open areas along strike, both North and South, with a 1,000m vertical extent from +350m RL to -650m RL.

4 Relevant Proportions Underpinning the Production Target Regis has developed a steady state annualised gold Production Target of between 100koz and 120koz from FY27 from its two new Duketon underground mines, Garden Well Main and Rosemont Stage 3. This Production Target includes 33% Indicated Mineral Resources, 31% Inferred Mineral Resources and 36% Exploration Target. Material Assumptions: The material assumptions on which the Production Target is based are provided below. • The marginal break-even gold price for the Garden Well Main and Rosemont Stage 3 underground mines is $2,600/oz. • Inferred Mineral Resource and Exploration Target material within all mining shapes have been included in the Production Target with conversion factors at both underground mines • Financial modelling based on internal cost and metallurgical recovery estimates are in-line with those applied to the mineral inventory estimate Cautionary Statement concerning the proportion of Inferred Mineral Resources. There is a low level of geological confidence associated with Inferred Mineral Resources. Further exploration work will not necessarily convert them to Indicated Mineral Resources or realise the Production Target itself. Cautionary Statement concerning the Proportion of Exploration Target Of Regis’ Production Target, 36% comprises an Exploration Target. The potential quantity and grade of this Exploration Target are conceptual in nature, and there is no certainty that further exploration work will result in the determination of Mineral Resources or that the Production Target itself will be realised. Competent Persons have prepared the mineral inventories and Exploration Targets underpinning the Production Target in accordance with the requirements of the JORC Code 2012.

6

Directors’ Report (Continued)

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and 31% Exploration Target[5] , or as yet unclassified material, for 1.7 Mt at 2.8 g/t Au for 157koz contained Au at 2.3g/t Au cut-off grade. The pre-production infrastructure development started on 1 July 2024 and achieved first stope production ore in Q1 FY26 as planned. Commercial production is still planned to commence in H2 FY26 and is forecasting underground ore mining rates are up to ~600 ktpa. Rosemont Stage 3 is expected to deliver a steady state annualised gold Production Target[4] of 40koz to 50koz from FY27.

Buckingham – Wellington Open Pit

A review has taken place within the historical Buckingham and Wellington pits situated at Duketon North, which has resulted in an increase in the Buckingham-Wellington Probable Ore Reserves by 123Koz to 251Koz[6] . The updated mine plan for Buckingham-Wellington extends the mine life of the Duketon North Operations, maintains continuity, delivers incremental production and cashflow. The mine life is expected to deliver 223koz of recovered gold over 6 years, with all ounces coming from Probable Ore Reserves of 8.8Mt at 0.89g/t for 251koz (at a 0.38g/t cut-off grade) with an average AISC of $3,524/oz. First ore is scheduled for Q4 FY26, with pre-stripping activities having already started as at 31 December 2025.

Tropicana – Havana Underground

The Havana underground project was approved in August 2024. Development of the Havana portal and decline commenced in the third quarter of 2024. Commercial production remains on track for early in the 2027 calendar year.

Exploration

The Bi-Annual exploration update released to the ASX on 9 December 2025 further highlighted the size and potential of the Company’s assets. During the half-year ended 31 December 2025, Regis drilled a total of 142,551 metres across Duketon and Tropicana (100%) as shown below:

Duketon Tropicana
Type Metres Metres
RC
Diamond
57,194
47,292

-

38,065
Total 104,486
38,065

Significant exploration projects advanced during the half-year ended 31 December 2025 are outlined as follows.

Garden Well Main Underground

Drilling beneath the Garden Well open pit has progressively expanded the understanding of down-plunge and along-strike continuity and has strengthened confidence in the structural and stratigraphic controls on gold distribution. Continued exploration activities and improving geological knowledge are discovering mineralised extensions down-plunge of the current underground Mineral Resource, which, if confirmed, will increase mine life and enhance value. The 1km-long exploration decline extending from Garden Well South to the Garden Well Main Zone continues to provide ideal access to test and realise the potential of other areas within the Exploration Target area.

Rosemont Underground

The orebodies at Rosemont are hosted in a steeply dipping north-trending quartz-dolerite unit intruding into a mafic-ultramafic sequence. Drilling activities have continued to explore multiple high-grade shoots which extend around existing underground infrastructure and along strike to the south.

Current Rosemont underground mining areas include (from the north to the south) Rosemont Main, Rosemont Central and Rosemont South. Rosemont Stage 3 is a new underground area which has extended the Rosemont South production area down-dip and down-plunge.

Infill drilling of Rosemont South and Stage 3 continues to be completed from both surface and underground locations. Surface diamond drilling is also continuing to test the potential down-dip and down-plunge extensions to the mineralisation, further expanding the potential underground production areas.

Ben Hur

The Ben Hur deposit is defined by mineralisation over a strike length of nearly 2km located 40km south of Rosemont and hosted in the same sub-vertical east dipping quartz dolerite. Drilling beneath Ben Hur has identified high-grade mineralisation with visible gold consistently seen on a sheared contact of the quartz-dolerite.

5 Exploration Target at Rosemont is extracted from ASX release “Development Approval For Two Underground Mines and Underground Reserves Increase” dated 6 May 2024 and clarified in ASX announcement titled “Clarification – Regis’ Underground Growth Projects” dated 10 May 2024. The Rosemont Exploration Target is estimated to contain between 0.6Mt to 0.8Mt at a grade ranging between 2g/t to 3g/t across the deposit. The Exploration Target area includes the known Rosemont underground mineral system as well as potential down plunge depth extensions and open areas along strike.

6 ASX release titled “Organic Growth Extends Life at Duketon North Operations” dated 13 November 2025.

7

Directors’ Report (Continued)

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Drilling during the period continues to support the Exploration Target at Ben Hur[7] . This deposit is estimated to contain between 4.0Mt and 6.0Mt at a grade ranging between 2.2 g/t Au and 2.8 g/t Au for a possible range of between 300koz and 550koz[8] across the identified zone and includes potential down plunge extensions of the current open pit mineralisation with a 500m vertical extent from 400m RL to -100m RL.

Duketon Regional Exploration

Regional exploration continued to test conceptual targets and identify new gold anomalies as well as collecting baseline geological, geochemical, and geophysical data. This data has facilitated the prioritisation of ongoing exploration in the most prospective trends within the Duketon Belt. An area between Rosemont and Baneygo continues to return promising drilling results in a setting which is geologically similar to the existing orebodies on the trend. In addition, new targets south of Garden Well has returned strong mineralisation at Beamish South.

TROPICANA

Exploration in and around the mine continues to define substantial extensions to mineralisation. The current period has focused on infill and extensional drilling at Boston Shaker and Tropicana underground mines and at the Havana underground mine as it progresses into a third production area.

Boston Shaker Underground

Drilling at Boston Shaker over the last six months has focused on the conversion of inferred resources to indicated resources and extending mineralisation in unclassified areas. Significant potential exists for confirming the extensions to mineralisation down-plunge of existing resource areas. To test this potential a series of deep diamond holes were drilled, with results demonstrating significant depth extensions.

Tropicana Underground

Drilling from an underground platform targeting the higher-grade down-dip extents of the Tropicana mineralisation continued during the period, demonstrating the significant areas of mineralisation. Infill drilling was also completed to convert resources from inferred to indicated category.

Tropicana Regional Exploration

The regional exploration programme continues to explore the tenement portfolio, with the primary aim to discover satellite resources which can be trucked to the Tropicana Gold Mine (Tropicana).

McPhillamys Gold Project (MGP)

As announced on 7 November 2024, Regis commenced formal legal proceedings in the Federal Court in respect of the former Federal Minister for Environment and Water, the Hon. Tanya Plibersek MP’s declaration of protection over part of the approved McPhillamys Gold Project. The judicial review of the Section 10 declaration under the Aboriginal and Torres Strait Islander Heritage Protection Act 1984 (Cth) was heard by the Federal Court from 10 to 12 December 2025, and judgment is currently reserved.

Events After Balance Date

On 18 February 2026, the Directors proposed an interim dividend on ordinary shares in respect of the 2026 half year. Refer to Note 7.

Other than the above matter, there have been no events subsequent to balance date that would significantly affect the amounts reported in the consolidated financial statements as at and for the half-year ended 31 December 2025.

Auditor’s Independence Declaration

The auditor’s independence declaration as required under Section 307C of the Corporations Act 2001 is set out on the following page and forms part of the Directors’ Report for the half-year ended 31 December 2025.

Rounding

The amounts contained in this report and in the financial report have been rounded to the nearest $1,000 (unless otherwise stated) under the option available to the company under ASIC Corporations (Rounding in Financial/Directors’ Reports) Instrument 2016/191. The Company is an entity to which the legislative instrument applies.

Signed in accordance with a resolution of the directors.

Mr James Mactier, Non-Executive Chairman Perth, 18 February 2026

7 ASX release titled “Underground Exploration Target Established at Ben Hur” dated 21 November 2024.

8 The potential quantity and grade of the Exploration Target is conceptual in nature and therefore is an approximation. There has been insufficient exploration to estimate a Mineral Resource, and it is uncertain if further exploration will result in the estimation of a Mineral Resource. The Exploration Target has been prepared and reported in accordance with JORC Code 2012.

8

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Lead Auditor’s Independence Declaration under Section 307C of the Corporations Act 2001

To the Directors of Regis Resources Limited

I declare that, to the best of my knowledge and belief, in relation to the review of Regis Resources Limited for the half-year ended 31 December 2025 there have been:

  • i. no contraventions of the auditor independence requirements as set out in the Corporations Act 2001 in relation to the review; and

  • ii. no contraventions of any applicable code of professional conduct in relation to the review.

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KPMG

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R. Gambitta Partner Perth 18 February 2026

KPMG, an Australian partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organisation. Liability limited by a scheme approved under Professional Standards Legislation.

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CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

For the half-year ended 31 December 2025

Consolidated Consolidated
Half-year ended Half-year ended
31 December 2025 31 December 2024
Note $’000 $’000
Revenue
Cost of goods sold
Gross profit
Other income/(expenses)
Personnel costs
Investor, corporate and legal costs
Occupancy costs
Other corporate administrative expenses
Finance costs
McPhillamys exploration and evaluation expensed
Impairment of non-current assets
Profit before income tax
Income tax expense
Profit from ordinary activities after tax
Profit attributable to members of the parent
Other comprehensive income
Other comprehensive income for the period, net of tax
Total comprehensive income for the period
Total comprehensive income attributable to members of the parent
Basic earnings per share attributable to ordinary equity holders of the parent
(cents per share)
Diluted earnings per share attributable to ordinary equity holders of the
parent (cents per share)
4(a)
5(a)
4(b)
5(b)
5(c)
10
6
1,088,054
(600,929)
777,280
(617,818)
487,125
21,649
(13,282)
(5,077)
(855)
(7,573)
(8,784)
(10,863)
(1,251)
159,462
11,161
(11,997)
(4,306)
(975)
(2,572)
(18,144)
(6,208)
-
461,089
(138,337)
126,421
(37,975)
322,752 88,446
322,752 88,446
- -
322,752 88,446
322,752 88,446
42.6
42.4
11.7
11.6

The above consolidated statement of comprehensive income should be read in conjunction with the accompanying notes.

10

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CONSOLIDATED BALANCE SHEET

As at 31 December 2025

Consolidated Consolidated
31 December 2025 30 June 2025
Note $’000 $’000
Current assets
Cash
Receivables
Inventories
Other current assets
Total current assets
Non-current assets
Inventories
Property, plant and equipment
Right-of-use assets
Exploration and evaluation assets
Mine properties under development
Mine properties in production
Total non-current assets
Total assets
Current liabilities
Trade and other payables
Current tax payable
Provisions
Lease liabilities
Total current liabilities
Non-current liabilities
Deferred tax liabilities
Provisions
Lease liabilities
Total non-current liabilities
Total liabilities
Net assets
Equity
Issued capital
Reserves
Retained profits
Total equity
8
8
9
10
9
9
869,011
22,439
175,030
10,096
505,486
16,610
159,392
6,755
1,076,576 688,243
35,619
268,474
104,198
432,394
218,194
565,116
67,850
261,913
114,372
395,611
159,090
589,124
1,623,995 1,587,960
2,700,571 2,276,203
150,287
231,593
8,253
19,106
138,719
99,430
6,797
18,547
409,239 263,493
130,998
168,480
91,168
124,824
172,935
100,611
390,646 398,370
799,885 661,863
1,900,686 1,614,340
1,104,941
37,187
758,558
1,097,194
43,477
473,669
1,900,686 1,614,340

The above consolidated balance sheet should be read in conjunction with the accompanying notes.

11

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CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

For the half-year ended 31 December 2025

Consolidated
Share-based
payment Financial assets
Retained
Issued capital reserve reserve profits Total equity
Note $’000 $’000 $’000 $’000 $’000
At 1 July 2025
Profit for the period
Other comprehensive income for the period
Total comprehensive income for the period
Transactions with owners in their capacity as
owners:
Share-based payments expense
Dividend paid
Issued capital
At 31 December 2025
At 1 July 2024
Profit for the period
Other comprehensive income for the period
Total comprehensive loss for the period
Transactions with owners in their capacity as
owners:
Share-based payments expense
Issued capital
At 31 December 2024
7 1,097,194
-
-
41,760
-
-
1,717
-
-
473,669
322,752
-
1,614,340
322,752
-
- - - 322,752 322,752
-
-
7,747
1,457
-
(7,747)
-
-
-
-
(37,863)
-
1,457
(37,863)
-
1,104,941 35,470 1,717 758,558 1,900,686
1,096,966
-
-
37,923
-
-
1,717
-
-
219,314
88,446
-
1,355,920
88,446
-
- - - 88,446 88,446
-
228
1,874
(228)
-
-
-
-
1,874
-
1,097,194 39,569 1,717 307,760 1,446,240

The above consolidated statement of changes in equity should be read in conjunction with the accompanying notes.

12

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CONSOLIDATED STATEMENT OF CASH FLOWS

For the half-year ended 31 December 2025

Consolidated Consolidated
31 December 2025 31 December 2024
Note $’000 $’000
Cash flows from operating activities
Receipts from gold sales
Payments to suppliers and employees
Interest received
Other income
Interest paid
Net cash from operating activities
Cash flows from investing activities
Acquisition of property plant and equipment
Proceeds on disposal of property, plant and equipment
Payments for exploration and evaluation
Payments for mine properties under development
Payments for mine properties in production
Net cash used in investing activities
Cash flows from financing activities
Payment of dividends
Payment of lease liabilities
Commitment fees paid on undrawn facility
Net cash used in financing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at 1 July
Cash and cash equivalents at 31 December
1,088,054
(454,883)
9,544
328
(3,888)
777,280
(423,123)
6,547
-
(12,970)
639,155 347,734
(27,593)
239
(42,560)
(104,036)
(53,193)
(18,358)
1,750
(26,830)
(26,636)
(33,351)
(227,143) (103,425)
(37,863)
(9,345)
(1,279)
-
(7,645)
-
(48,487) (7,645)
363,525
505,486
236,664
277,936
869,011 514,600

The above consolidated statement of cash flows should be read in conjunction with the accompanying notes.

13

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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

For the half-year ended 31 December 2025

1. Corporate Information

The interim condensed consolidated financial statements of Regis Resources Limited and its subsidiaries (collectively referred to as the “Group”) for the six months ended 31 December 2025 were authorised for issue in accordance with a resolution of the directors on 18 February 2026.

Regis Resources Limited (the “Company”) is a for profit company, limited by shares, incorporated and domiciled in Australia whose shares are publicly traded. The Group’s principal activities are the exploration for, and production of, gold.

2. Basis of Preparation and Accounting Policies

Basis of preparation

The interim condensed consolidated financial statements for the half-year ended 31 December 2025 have been prepared in accordance with AASB 134 Interim Financial Reporting and the Corporations Act 2001 .

The interim condensed consolidated financial statements do not include all the information and disclosures required in the annual financial statements, and should be read in conjunction with the Group’s annual financial statements for the year ended 30 June 2025 which are available upon request from the Company’s registered office or at www.regisresources.com.

Significant accounting policies

The accounting policies adopted in the preparation of the interim condensed consolidated financial statements are consistent with those followed in the preparation of the Group’s annual financial statements for the year ended 30 June 2025.

3. Operating Segment Information

The Group’s two reporting segments comprise Duketon and Tropicana. These segments are unchanged from those reported at 30 June 2025. Segment profit/(loss)

The following table presents revenue and profit information for reportable segments for the half-years ended 31 December 2025 and 2024 respectively.

Duketon Duketon Tropicana Tropicana Unallocated Unallocated Total Total
2025 2024 2025 2024
$’000
2025 2024 2025 2024
Segment revenue
Sales to external
customers
Total segment revenue
Total revenue per the
statement of
comprehensive income
Segment result
Segment net operating
profit/(loss) before tax
Income tax expense
Net profit after tax
$’000 $’000 $’000 $’000 $’000 $’000 $’000
652,079 463,085 435,975 314,195 - - 1,088,054 777,280
652,079 463,085 435,975 314,195 - - 1,088,054 777,280
96,716 1,088,054 777,280
300,905 64,536 190,408 (30,224) (34,831) 461,089 126,421
(138,337) (37,975)
322,752 88,446

14

Notes to the Financial Statements (Continued)

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Segment assets

Unallocated items comprise exploration and evaluation assets relating to areas of interest where an economically recoverable reserve is yet to be delineated and corporate assets. Segment assets as at 31 December and 30 June are as follows:

Duketon Duketon Tropicana Tropicana Unallocated Unallocated Total Total
2025 2024 2025 2024 2025 2024 2025 2024
As at 31
December
Segment
operating assets
As at 30 June
Segment
operating assets
$’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000
774,519 712,891 820,155 847,368 1,105,897 698,241 2,700,571 2,258,500
700,932 758,695 873,780 901,474 701,491 469,726 2,276,203 2,129,895
  1. Revenue and Other Income/(Expenses)
Consolidated Consolidated
Half-year ended Half-year ended
31 December 2025 31 December 2024
$’000 $’000
(a) Revenue
Gold sales
(b) Other income/(expenses)
Interest income
Rental income
Rehabilitation provision adjustment(i)
Insurance proceeds
Other income
Other expenses
1,088,054 777,280
1,088,054 777,280
10,262
109
8,626
2,747
275
(370)
7,318
61
2,469
-
1,313
-
21,649 11,161

(i) Relates to a reduction in the rehabilitation provision for closed sites, primarily due to an increase in the discount rate applied.

5. Expenses

Consolidated Consolidated
Half-year ended Half-year ended
31 December 2025 31 December 2024
$’000 $’000
(a) Cost of goods sold
Cash costs of mining and processing
Royalties
Depreciation of mine plant and equipment
Amortisation of mine properties
Silver sales (credits)
Inventory write-back to net realisable value
408,576
37,773
30,872
129,015
(3,281)
(2,026)
377,993
26,127
31,410
189,870
(1,709)
(5,873)
600,929 617,818

15

Notes to the Financial Statements (Continued)

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(b) Finance costs
Interest and finance facility fees expensed
Interest on right-of-use lease liabilities
Unwinding of discount on rehabilitation & restoration provisions
(c) Exploration & evaluation expensed
McPhillamys project expenditure
Consolidated
Half-year ended
31 December 2025
Half-year ended
31 December 2024
$’000
$’000
1,581
12,872
3,888
1,805
3,315
3,467
8,784
18,144
10,863
6,208
10,863
6,208

Following the Section 10 declaration over the McPhillamys project, related costs are now expensed through the profit & loss account rather than capitalised.

6. Income Tax

A reconciliation between tax expense and the product of accounting profit
before tax multiplied by the Group’s applicable income tax rate is as follows:
Profit before income tax
At the Group’s statutory income tax rate of 30% (2024: 30%)
Adjustment in respect of income tax of previous years
Other non-deductible expenditure
Income tax expense reported in the statement of comprehensive income
7. Dividends
Declared and paid during the half-year:
Dividends on ordinary shares
Final dividend for the year ended 30 June 2025: 5 cents per share (fully
franked at 30%) (2024: nil)
Proposed by the directors after balance date but not recognised as a liability at
31 December:
Dividends on ordinary shares
Interim dividend for 2026: 15 cents per share (fully franked at 30%) (2025: nil)
461,089
126,421
138,327
37,926
10
46
-
3
138,337
37,975
37,863
-
113,588
-

16

Notes to the Financial Statements (Continued)

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8. Inventories

Current
Bullion on hand at book value
Ore stockpiles
Gold in circuit
Consumable stores
Non-current
Ore stockpiles
Consolidated
As at
31 December 2025
As at
30 June 2025
$’000
$’000
28,771
7,664
87,917
90,713
25,873
30,372
32,469
30,643
175,030
159,392
35,619
67,850

As at 31 December 2025, all inventories were valued at the lower of cost or net realisable value. The respective adjustments were recognised in cost of goods sold. The assessment resulted in total net realisable value write-back of $2.0m for the half year (Dec24 HY: $5.9m write-back).

9. Leases

Lease liability recognised
Comprising:
Current
Non-current
Consolidated
As at
31 December 2025
As at
30 June 2025
$’000
$’000
19,106
18,547
91,168
100,611
110,274
119,158

Upon lease inception, right-of-use assets are measured at the amount equal to the lease liability, adjusted by the amount of any prepaid or accrued lease payments relating to that lease recognised in the balance sheet as at 31 December 2025.

Plant & equipment
Buildings & infrastructure
Total right-of-use assets
Consolidated
As at
31 December 2025
As at
30 June 2025
$’000
$’000
102,684
112,620
1,514
1,752
104,198
114,372

17

Notes to the Financial Statements (Continued)

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10. Exploration and Evaluation Assets

Consolidated Consolidated
As at As at
31 December 2025 30 June 2025
$’000 $’000
Reconciliation of movements during the year
Balance at 1 July
Expenditure for the period
Impairment charge
Transferred to mine properties under development
Transferred to mine properties in production
Transferred from PP&E
Balance at 31 December / 30 June
395,611
42,560
(1,251)
(4,526)
-
-
370,344
57,237
(3,778)
(19,998)
(8,673)
479
432,394 395,611

11. Share-Based Payments

The following performance rights were granted to Chief Executive Officer and Managing Director, Mr Jim Beyer (Key Management Personnel) under the Company’s Incentive Plan:

Tranche A Tranche B Tranche C Tranche D
Performance conditions Continuous Total shareholder Reserve growth Production
employment return
Number of rights - KMP 58,582 181,727 90,863 90,864
Type of rights STI LTI LTI LTI
Grant date 21 Nov 2025 21 Nov 2025 21 Nov 2025 21 Nov 2025
Value of the underlying
security at grant date
$6.60 $6.60 $6.60 $6.60
Exercise price Nil Nil Nil Nil
Dividend yield 2% 2% 2% 2%
Risk free rate 3.688% 3.750% 3.750% 3.750%
Volatility 45% 45% 45% 45%
Performance period (years) 1.0 3.00 3.00 3.00
Commencement of
measurement period
1 July 2025 1 July 2025 1 July 2025 1 July 2025
Test date 30 June 2026 30 June 2028 30 June 2028 30 June 2028
Remaining performance
period (years)
0.61 2.61 2.61 2.61

18

Notes to the Financial Statements (Continued)

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The following performance rights were granted to Key Management Personnel, Mr Michael Holmes (COO) and Mr Anthony Rechichi (CFO), and Others under the Company’s Incentive Plan:

Tranche E Tranche F Tranche G Tranche H
Performance conditions Continuous Total shareholder Reserve growth Production
employment return
Number of rights - KMP 58,047 148,095 74,047 74,047
Number of rights - Other 19,303 323,842 161,922 161,922
Type of rights STI LTI LTI LTI
Grant date 18 Dec 2025 18 Dec 2025 18 Dec 2025 18 Dec 2025
Value of the underlying security $7.38 $7.38 $7.38 $7.38
at grant date
Exercise price Nil Nil Nil Nil
Dividend yield 2% 2% 2% 2%
Risk free rate 4.012% 4.097% 4.097% 4.097%
Volatility 45% 45% 45% 45%
Performance period (years) 1.0 3.00 3.00 3.00
Commencement of measurement 1 July 2025 1 July 2025 1 July 2025 1 July 2025
period
Test date 30 June 2026 30 June 2028 30 June 2028 30 June 2028
Remaining performance period 0.53 2.53 2.53 2.53

(years)

The fair value of the 1,443,261 performance rights granted during the half-year was $8,355,066. A weighted average fair value per right of $5.789.

For the six months ended 31 December 2025, the Group has recognised $1,457,000 of share-based payments expense in the statement of comprehensive income relating to the above and previously granted LTIs (2024 half-year: $1,874,000).

12. Contingencies

South32 Limited (ASX: S32) (“South32”) commenced proceedings against IGO Ltd (ASX:IGO) (“IGO”) in the Supreme Court of Western Australia (“Supreme Court Proceedings”)[1] . South32 is seeking a court declaration in relation to the interpretation of the Agreement for the Sale of Assets and Mining Tenements dated 1 August 1997 (as subsequently amended, assigned or novated) (the Royalty Agreement). Regis understands that South32 alleges that properly interpreted, it is owed royalty payments under the Royalty Agreement at the rate of 1.5% of gross revenue from 100% of production from the Tropicana Gold Project and is also seeking interest and costs. IGO, being the current counterparty to the Royalty Agreement, announced that it disputes the allegations and intends to strongly defend the claim. The hearing on this matter was held in December 2025 with the Judge reserving her decision.

Regis was formally joined as a party to the Supreme Court Proceedings by IGO on 24 July 2024[2] . Under the Asset Sale Agreement for the 30% interest in the Tropicana Gold Project between Regis, a wholly owned subsidiary of Regis (AFB Resources Pty Ltd) and IGO, Regis assumed liability for the royalty to the extent it may apply to any of the Tropicana Gold Project after its acquisition (Transferred Royalty). Also, under the Asset Sale Agreement Regis agreed to indemnify IGO for liability arising in relation to the Transferred Royalty on the terms of the Asset Sale Agreement. The hearing for this matter will be held after the decision on the matter between South 32 and IGO is delivered.

Regis’ view at the time of the acquisition was, and remains, that no amount is due under the Royalty Agreement in respect of current operations at the Tropicana Gold Project, and Regis intends to take appropriate action to protect its position.

13. Subsequent Events

On 18 February 2026, the Directors proposed an interim dividend on ordinary shares in respect of the 2026 half year. Refer to Note 7.

Other than the above matter, there have been no events subsequent to balance date that would significantly affect the amounts reported in the consolidated financial statements as at and for the half-year ended 31 December 2025.

1 ASX announcement titled “Tropicana Gold Mine Royalty Claim” dated 1 February 2024. 2 ASX announcement titled “Update - Tropicana Gold Mine Royalty Claim” dated 21 June 2024.

19

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DIRECTORS' DECLARATION

In accordance with a resolution of the directors of Regis Resources Limited, I state that:

In the opinion of the directors:

  • (a) The financial statements and notes of Regis Resources Limited for the half-year ended 31 December 2025 are in accordance with the Corporations Act 2001, including:

  • (i) giving a true and fair view of the Group’s financial position as at 31 December 2025 and of its performance for the half-year ended on that date; and

  • (ii) complying with Accounting Standard AASB 134 Interim Financial Reporting and the Corporations Regulations 2001; and

  • (b) There are reasonable grounds to believe that the Company and Group will be able to pay its debts as and when they become due and payable.

On behalf of the board

Mr James Mactier Non-Executive Chairman Perth, 18 February 2026

20

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Independent Auditor’s Review Report

To the shareholders of Regis Resources Limited

Conclusion

We have reviewed the accompanying Interim Financial Report of Regis Resources Limited.

Based on our review, which is not an audit, we have not become aware of any matter that makes us believe that the Interim Financial Report of Regis Resources Limited does not comply with the Corporations Act 2001 , including:

  • [giving a true and fair view of the ] [Group’s] financial position as at 31 December 2025 and of its performance for the half-year ended on that date; and

  • [complying with ] [Australian Accounting ] Standard AASB 134 Interim Financial Reporting and the Corporations Regulations 2001 .

The Interim Financial Report comprises:

  • [Consolidated balance sheet as at ] 31 December 2025

  • [Consolidated statement of comprehensive ] income, Consolidated statement of changes in equity and Consolidated statement of cash flow for the half-year ended on that date

  • [Notes 1 to 13 comprising material accounting ] policies and other explanatory information

  • [The Directors’ Declaration. ]

The Group comprises Regis Resources Limited (the Company) and the entities it controlled at the half year’s end or from time to time during the half-year.

Basis for Conclusion

We conducted our review in accordance with ASRE 2410 Review of a Financial Report Performed by the Independent Auditor of the Entity . Our responsibilities are further described in the Auditor’s Responsibilities for the Review of the Financial Report section of our report.

We are independent of the Group in accordance with the auditor independence requirements of the Corporations Act 2001 and the ethical requirements of the APES 110 Code of Ethics for Professional Accountants (including Independence Standards) issued by the Accounting Professional & Ethical Standards Board Limited (the Code) that are relevant to audits of annual financial reports of public interest entities in Australia. We have fulfilled our other ethical responsibilities in accordance with these requirements.

KPMG, an Australian partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organisation. Liability limited by a scheme approved under Professional Standards Legislation.

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Responsibilities of the Directors for the Interim Financial Report

The Directors of the Company are responsible for:

  • the preparation of the Interim Financial Report that gives a true and fair view in accordance with Australian Accounting Standards and the Corporations Act 2001

  • such internal control as the Directors determine is necessary to enable the preparation of the Interim Financial Report that gives a true and fair view and is free from material misstatement, whether due to fraud or error.

Auditor’s Responsibilities for the Review of the Interim Financial Report

Our responsibility is to express a conclusion on the Interim Financial Report based on our review. ASRE 2410 requires us to conclude whether we have become aware of any matter that makes us believe that the Interim Financial Report does not comply with the Corporations Act 2001 including giving a true and fair view of the Group’s financial position as at 31 December 2025 and its performance for the half-year ended on that date, and complying with Australian Accounting Standard AASB 134 Interim Financial Reporting and the Corporations Regulations 2001 .

A review of an Interim Period Financial Report consists of making enquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Australian Auditing Standards and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

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KPMG

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R. Gambitta Partner Perth 18 February 2026