# Darren Stralow Managing Director and Chief Executive Officer ## Career chronology - **CEO since December 2021; Managing Director and CEO from 1 March 2023: Bellevue Gold Limited** — Managing Director and Chief Executive Officer. [FY2026 Annual Report]() (PDF p19, printed p35 CEO biography); [Key management changes]() (p1 appointment effective 1 March 2023) - **More than a decade through 2021; Paulsens GM replaced February 2014: Northern Star Resources** — Chief Development Officer; General Manager of Operations; prior Paulsens General Manager. [Key management changes]() (p1 appointment biography); [Northern Star appoints new senior management team]() (p1 leadership appointments); [December 2013 quarterly activities report]() (p8 competent-person statement, 23 January 2014) ## Education and qualifications ### Reported qualifications [stralow_education] Reported in issuer records through 2026 · issuer reported · low materiality Bachelor of Engineering (Mining) from the Western Australian School of Mines; Fellow of AusIMM and AICD graduate, according to the company. **Attribution:** Responsibility not applicable. The issuing institution or professional body was not independently asked to verify the credential. **Relevance:** Background for the current role. [FY2026 Annual Report]() (PDF p19, printed p35 CEO biography) ## Contributions and company outcomes ### FY2026 operating outcome [ceo_delivery] FY2025–FY2026 · issuer reported · high materiality Bellevue reported FY2026 production of 143,539 ounces at A$2,827/oz AISC and FY2026 profit after tax of A$7.081 million, versus a A$45.889 million FY2025 loss. Commodity prices and many employees and contractors influence the result. In the September 2026 quarter production was 35,585 ounces, down from 41,643 in June, as a new contractor ramped up more slowly than expected. **Attribution:** Role overlaps event; causation unproven. He was CEO and managing director during both periods; personal causation is not quantified. **Relevance:** Operating and financial delivery over the management period. [FY2026 Annual Report]() (PDF p21, printed p39 remuneration year review); [FY2026 Annual Report]() (PDF p34, printed p64 income statement); [September 2026 Quarterly Activities Report]() (p1 September quarterly production and contractor transition) ## Business failures and setbacks ### 2025 production downgrade and financing reset [ceo_setback] January–August 2025 · issuer reported · high materiality Original FY2025 guidance of 165,000–180,000 ounces was lowered to 150,000–165,000 in January and 129,000–134,000 in April. Bellevue reported 126,139 ounces recovered for FY2025. In April it reset the plan, announced equity funding and estimated up to A$110.5 million of hedge close-out costs; the annual report later recorded A$110.9 million paid to close near-term contracts. **Attribution:** Role overlaps event; causation unproven. Company results during his CEO tenure; geology, execution, market prices and financing conditions contributed. **Relevance:** Material production and capital-allocation track record. [Production and guidance update]() (p1 production and guidance); [Updated guidance and equity raising]() (pp1–3 funding and guidance); [FY2025 Annual Report]() (operations review and financial position) ## Industrial safety ### FY2026 injury rates and 2025 development pause [ceo_safety] December 2025 and FY2026 · issuer reported · high materiality The FY2026 total recordable injury frequency rate rose to 14.4 from 6.8 and lost-time injury frequency rose to 2.1 from zero; Bellevue says it did not meet its safety goals. Development had been suspended for ten days after a December 2025 misfire-management incident, with work resuming 4 January after assessment. **Attribution:** Role overlaps event; causation unproven. He was CEO during the events; company-level records do not establish personal fault. **Relevance:** Operational safety and oversight. [FY2026 Annual Report]() (PDF p11, printed p19 Safety and Wellbeing); [December 2025 Quarterly Activities Report]() (pp1,3 and 5 safety incident and restart) ### Former employer incidents after Paulsens role [ceo_past] 2015–2021 · documented · medium materiality A Paulsens contractor died in 2015 and Northern Star pleaded guilty and was fined A$90,000 in 2017 for unsafe heat conditions. Northern Star was also fined A$150,000 in 2021 for a 2017 Millennium vehicle incident. Stralow had already been replaced as Paulsens GM in February 2014; exact responsibilities for later incidents are not established. The ASX-hosted replacement notice has a conflicting 2013 printed header; its 2014 filing path and references to the 2014 acquisitions, together with the January 2014 filing, support the chronology. **Attribution:** Employer context; no individual link established. He previously held a Paulsens role and worked at Northern Star; no personal involvement or fault in either incident is established. **Relevance:** Historical employer safety context with strict attribution limits. [Northern Star appoints new senior management team]() (p1 replacement as Paulsens GM); [Northern Star fined over Paulsens mine death]() (court reporting, June 2017); [Gold miner fined after workers injured driving underground]() (WA regulator notice, March 2021); [December 2013 quarterly activities report]() (p8 competent-person statement, 23 January 2014) ## Suitability for the current role ### Experience relevant to role [stralow_fit] Career to 2026 · analyst inference · medium materiality Analyst inference: the issuer-reported career and current role provide experience relevant to Managing Director and Chief Executive Officer; performance in that role cannot be established from biography alone. **Attribution:** Responsibility not applicable. Role fit is an analytical judgment based on cited career evidence. **Relevance:** Role relevance, with attribution limits. [FY2026 Annual Report]() (PDF p19, printed p35 CEO biography) ## Evidence gaps - Independent verification of educational and professional credentials was not obtained. - Detailed dates and responsibilities across earlier employers and any direct contribution to aggregate outcomes remain incomplete. - Open-web searches are limited and do not establish an exhaustive legal, criminal, sanctions or regulatory record. - Exact Northern Star responsibility at the time of the 2015 and 2017 incidents is not established; he had ceased as Paulsens general manager in 2014.