Half Year Report: $8.5m revenues deliver $3.1m net profit2025...

Half Year Report: $8.5m revenues deliver $3.1m net profit 2025 focus on commercialisation, targeting operations from 2026

Dear Investors & Colleagues, We are pleased to share Barton's 31 December 2024 Half Year Report. For those with limited time, the Directors' Report on pages 3 - 6 highlights several key achievements. This includes that $8.5 million in Revenues have driven a Net Profit After Tax of $3.1 million for the Half Year.This is particularly notable given that we fully expense our extensive exploration works (rather than capitalising them to our balance sheet). Key events for the Half Year (and subsequent) include: Exploration theaddition of 20,000oz Auto the Perseverance open pit floor (Tarcoola); anew high grade gold-silver discoveryat the Tolmer prospect (Tarcoola);and growth of the Tunkillia's Mineral Resources to1.6Moz gold and 3.1Moz silver, Corporate the award of$1.49 million JMEI Tax Credits, distributable to Barton investors; a$5 million gold sale(1,425oz Au) for a profit of $4.2 million (A$2,950/oz Au); a$2.4 million cash R&D tax refundreceived during early January 2025; and Collins Street Asset Management'sconsolidation of ~13% of BGD equity. Barton hasgenerated $12m+ additional non-dilutive cash since IPO, reflecting our team's focus, effort and skill in building - and defending - value for shareholders. Looking Forward Barton starts the 2025 year well capitalised, with $9.2m cash (as at 13 January) and a big few months ahead. During the past 3 years we have quickly and efficiently built a large-scale development platform, and the gold market is offering a strong tailwind. It is now time to 'exercise our option' to leverage our fully-permitted Central Gawler Mill. Before 30 June, we will publish an Optimised Scoping Study for Tunkillia. We anticipate material efficiency gains. In parallel, we will deliver our plan to restart the Central Gawler Mill, with the aim to confirm a low-capex start to operations from 2026, and a low-risk, lower-dilution pathway to our 150,000ozpa gold production target. We are excited for the year ahead, and we look forward to speaking with many of you in person during the coming weeks ( see / register for our conference schedulehere) -come meet the team that works as hard for your investment as you did! For those who were planning to attend, we also note that the 'Gold Coast Gold' conference has been postponed to April (dates pending) following the attack of cyclone Alfred - we wish our QLD and northern NSW colleagues a swift cleanup and recovery. A detailed copy of this announcement can be found on the ASX platform and the Company's websitehere. Regards, Alexander Scanlon Managing Director & CEO Of note, we fully expense our exploration rather than capitalising, BOOM! Nice work Alex and team!