Westgold Resources

Australian Gold Producer

ASX 100

Processing Hubs

Landholding

⁓2,500km²

Ore Reserves as at 30 June 2026

4.1 Moz

Westgold operates across more than 2,500km² in the Murchison and Southern Goldfields — two of Australia's most prolific gold-producing regions.

Our Operations

Behind every ounce produced is a team of dedicated people working together to create enduring value. At Westgold, there’s gold in being yourself. Come find it.

Our People

Westgold is focused on creating long-term shareholder value through disciplined growth, strong cash generation and operational excellence.

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This one's about a change in substantial shareholding, not a company announcement in the usual sense, but it's worth flagging for transparency.

L1 Capital Pty Ltd, a Melbourne-based investment manager, has increased its stake in Westgold Resources. Its voting power has moved from 10.68% to 11.86%, following a series of on-market purchases of our shares between 17 September 2026 and 2 November 2026.

L1 Capital now holds relevant interests in just over 111.5 million of our shares, held through several custodians including JPMorgan, Morgan Stanley, Goldman Sachs, UBS Nominees and Merrill Lynch, in its capacity as an investment manager for various funds and accounts.

This is a standard disclosure required under the Corporations Act whenever a substantial holder's stake changes. It tells us who owns meaningful parcels of Westgold shares, but it doesn't change anything about our strategy, operations or financial position. L1 Capital is a known institutional investor in our register, and this filing simply reflects it adding to that position on-market over recent weeks.

There's nothing here that requires any action from shareholders. If you'd like to understand more about what a substantial holder notice means or how it fits into the broader picture of our share register, feel free to send us a question through this page.

This is a routine update on our on-market share buy-back, lodged as part of our regular reporting obligations under the ASX listing rules.

On the previous trading day, we bought back 500,000 Westgold shares for AUD 2,447,610.46. That brings the total bought back since the programme began to 10,754,058 shares, for a combined cost of AUD 56,572,704.01.

As a reminder, we've extended the buy-back programme to run until 10 September 2027, with scope to buy back up to a further A$50 million worth of shares, subject to an overall cap of 5% of our issued share capital as at 11 September 2026. As at the end of the previous day, 41,614,592 shares remained available to buy back under the maximum we've disclosed. This programme does not require shareholder approval and isn't guaranteed to run to its full size or timeframe.

For context, we have 944,091,836 shares on issue, and the buy-back is being conducted on-market through Canaccord Genuity (Australia) Limited.

We see the buy-back as a way of returning capital to shareholders and managing our share register, and we'll keep lodging these updates as required. If you'd like to know more about how the programme works or where it stands, you're welcome to send us your questions through this page.

Westgold's FY26 was a year of doing what we said we'd do. We produced a record 387,354 ounces of gold, ahead of the top end of our guidance, at an all-in sustaining cost of $2,841 per ounce, within the range we set out at the start of the year. Revenue grew to $2,441 million and net profit after tax lifted to $443 million.

The balance sheet is the standout. We finished the year debt free, fully unhedged, and with $939 million in cash, bullion and liquid investments, an increase of $575 million over the year. In March 2026 we also put in place a new $600 million unsecured debt facility, which remained undrawn at year end, giving us $1.5 billion in available capacity.

We simplified the portfolio this year, spinning out our Reedy and Comet assets into the newly listed Valiant Gold while keeping a shareholding, and selling three other non-core projects. Together these moves brought forward more than $200 million in value while keeping some exposure to their future upside. We also continued an on-market share buyback and, after year end, declared a record final dividend of 10 cents per share.

Growth remains organic and self-funded. Our Ore Reserves grew to more than 4 million ounces, roughly 10 years of production at current processing rates, and exploration at Beta Hunt's Fletcher zone delivered a maiden 1.1 million ounce Ore Reserve. Subsequent to year end we announced expansion studies at our Cue and Meekatharra hubs, aimed at lifting production from 385,000-425,000 ounces in FY27 to 460,000-510,000 ounces in FY29. These plans are subject to further feasibility work, Board approval and final investment decisions.

It wasn't all upside: we set a higher bar for safety incident reporting this year, which shows up as a weaker short-term safety result, and we didn't meet our total recordable injury frequency rate target.

If you have questions about this announcement, we'd encourage you to use the question box on this page.

Westgold has released its Corporate Governance Statement for FY26, which sets out how the board and management oversee the company on your behalf.

The headline is simple: for the whole of FY26, Westgold followed all of the ASX Corporate Governance Council's recommendations. The board comprised eight directors through the year, seven of them independent, with a majority meeting all key independence and structure benchmarks. Following the retirements of Gary Davison and Julius Matthys at year end, the board now has six directors, five of them independent.

On diversity, the board met its objective of at least 30% women throughout FY26 (37.5%, or three of eight directors), and currently sits at 50%. Workforce-wide, female participation grew from 12% in FY23 to 15% in FY26, which remains below the 25% target set for FY26. The company has been upfront that progress here has been slower than intended and has outlined the practical steps it's taking to improve it.

On remuneration, the board engaged an independent consultant to benchmark FY27 pay for the Chair, non-executive directors and the executive team, targeting up to the 75th percentile of comparable market peers. A three-year internal audit programme also commenced during FY26, covering 24 planned audits against the company's enterprise risk register.

The statement also details the board's committee structure, risk management framework, continuous disclosure processes and how shareholders can engage with the company, including at the upcoming annual general meeting.

If you'd like to understand any part of this in more detail, we welcome your questions through the hub.

We've lodged our Corporate Governance Statement for the year ended 30 June 2026, confirming how Westgold stacks up against the ASX Corporate Governance Council's recommended practices.

The short version: we've followed every one of the Council's applicable recommendations in full for the whole year. That covers how the board is structured and overseen, how we manage conflicts and independence, how we handle risk (including environmental and social risk, detailed further in our 2026 Climate Report and 2026 Sustainability Report), how we pay directors and executives, and how we keep communication with shareholders open and accessible.

This is a compliance filing rather than a trading or financial update, so it doesn't change the investment case on its own. What it does is give you, and the market, a clear picture of how the company is governed, who's accountable for what, and where to find the detail if you want it. The full Corporate Governance Statement is available on our website, and the policies referenced throughout, from our board charter to our whistleblower and remuneration policies, sit there too.

We see governance as part of how we protect shareholder value over the long run, not just a box-ticking exercise, and we're glad to have another clean year to report.

If anything here raises questions, we'd welcome you asking through the question box on this page.

This is a procedural notice, so there's no financial substance to unpack, just the practical details every shareholder needs to have their say at this year's AGM.

Our Annual General Meeting will be held in person on Thursday, 26 November 2026 at 12.00pm (AWST) at the Conference Centre, Exchange Tower, Level 8, 2 The Esplanade, Perth. You can also watch proceedings live via webcast, though there's no online voting on the day itself.

The resolutions on the table cover adoption of our Remuneration Report, the re-election of David Kelly as a director, and the issue of FY27 LTI Performance Rights to Wayne Bramwell along with approval of related potential benefits. The Remuneration Report resolution is non-binding, as is standard practice.

If you can't make it to Perth, the best way to have your say is to lodge a proxy. You can do this online at investorvote.com.au using the details on your personalised proxy form, or by mail to Computershare. Proxy forms need to be received by 12.00pm (AWST) on Tuesday, 24 November 2026, at least 48 hours before the Meeting starts, so don't leave it to the last minute.

The full Notice of Meeting sets out each resolution in detail and is worth reading in full before you vote. It's available on our investor centre and on the ASX website. If you'd rather receive a hard copy, or want to update how we communicate with you, Computershare can help with that.

If anything here raises questions, we'd encourage you to use the question box on this page.

Our Annual General Meeting is set for Thursday, 26 November 2026 at 12:00pm (AWST) in Perth, and we wanted to walk you through what's on the agenda.

Alongside the usual presentation of our annual financial report, Directors' Report, Auditor's Report and Climate Report for the year ended 30 June 2026, shareholders are being asked to vote on four resolutions. The first is a non-binding vote on our Remuneration Report. The second asks shareholders to re-elect David Kelly, who retires by rotation and has offered himself for re-election, as a director.

The remaining two resolutions relate to long term incentives for our Managing Director and CEO, Wayne Bramwell. Resolution 3 seeks approval to issue him up to 375,783 FY27 LTI Performance Rights, valued by independent advisers at between $3.310 and $5.506 each, with a total estimated value of around $1,492,723 if all performance conditions are met in full. These rights are tied to three measures over the three years to 30 June 2029: relative shareholder return against a group of ASX-listed peers, absolute shareholder return, and growth in our ore reserves. Resolution 4 asks shareholders to approve the potential benefits that could arise under these rights if Wayne's employment ends or a change of control occurs, as required under the Corporations Act. Resolution 4 only takes effect if Resolution 3 is passed.

Our independent directors, excluding Wayne Bramwell, recommend voting in favour of Resolutions 3 and 4. The Chair intends to vote undirected proxies in favour of all four resolutions.

The meeting is in-person only, though you can watch a live webcast and submit written questions if you can't attend. If you want to have your say, your proxy needs to be lodged by 12:00pm (AWST) on Tuesday, 24 November 2026.

If anything here raises a question, we'd genuinely like to hear it through the question box on this page.

Here's our latest update on Westgold's on-market share buy-back.

On 22 October 2026 we bought back 1,000,000 shares for a total of A$5,223,445.08, at prices between A$5.16 and A$5.24 per share. This brings the total bought back since the programme began to 10,254,058 shares, worth just over A$54.1 million in total.

Earlier this year we extended the buy-back programme through to 10 September 2027, with scope to buy back up to a further $50 million worth of Westgold shares. This remains subject to an overall cap of 5% of the shares we had on issue as at 11 September 2026. As at the end of the previous trading day, we had 42,114,592 shares remaining under the maximum we've disclosed an intention to buy back.

Buy-backs like this are one of the ways we return value to shareholders, and we'll keep notifying the market daily as required under the ASX listing rules for as long as the programme runs. There's no minimum number of shares we're committed to buying back, and the programme doesn't require shareholder approval.

If you'd like to understand more about what this buy-back means for your shareholding, we're happy to take questions through the hub.

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