Barnes Group Inc.

Q2 delivered strong operating + financial performance (gold + costs) - Gold production: 976k ounces, +3% above guidance and +11% vs Q1; drivers included faster ramps at Loulo-Gounkoto (ahead of schedule) and PV, plus record underground tonnes at Cortez and continued ramp at Goldrush. - Copper production: 56k tons, with cost discipline and margins comparable to gold. - Earnings: Net earnings $1.2B (+50% YoY); Adjusted EPS 82¢ (explicitly said in line with Bloomberg consensus). - EBITDA: $2.425B attributable adjusted EBITDA (+51% YoY) at ~59% margin. - Shareholder return: $1.5B quarterly shareholder return (buybacks/dividends implied in their capital return framework).

Cash flow was weaker YoY for a “timing/one-off” reason, but underlying strength is still there - Management said Q2 is typically the lowest quarter for free cash flow due to timing of annual tax and interest payments. - Plus a one-time ~$400M payment related to Loulo-Gounkoto, leading to 33% YoY decline in attributable free cash flow. - Net cash balance sheet: $1.2B net cash at quarter-end. - Year-to-date attributable free cash flow: $1.4B, more than double the prior year period.

2026 outlook maintained; expects stronger 2H production - Guidance unchanged for 2026 (production + costs). - Q3: expects gold higher than Q2, consistent with the plan; Q4 even higher. - Copper: expects higher production in the second half vs first half. - CFO/CEO framed performance as demonstrating the company can deliver full-year commitments with continued operational focus on costs, capital intensity, and productivity.