Ramelius Resources Limited · ASX:RMS
Ramelius Resources — Q4 FY2026 Earnings Presentation
22 slides from Ramelius Resources's earnings presentation, Jul 29, 2026
Slide 1: Quarterly Results June 2026
29 JULY 2026 QUARTERLY For personal use only RESULTS June 2026
Slide 2: Qualifications & Non-IFRS Financial Information
Qualifications & Non-IFRS Financial Information Forward Looking Statements This presentation contains certain forward-looking statements with respect to Ramelius Resources Ltd’s (Ramelius) financial condition, results of operations, production targets and other matters that are subject to various ri
Slide 3: Key Highlights | June 2026 Quarter
Key Highlights | June 2026 Quarter Production & Costs • Quarterly gold production of 53,466 ounces at an AISC of A$1,973/oz1 • Never Never underground ore processed, making up 40% of gold production for the Quarter For personal use only Cash & gold • Cash & gold of A$649.6M (March 2026: A$606.5M), o
Slide 4: Key Highlights | a recap on FY26
Key Highlights | a recap on FY26 Production & Costs • Annual gold production of 192,182 ounces at an AISC of A$1,983/oz1 (A$1,840/oz excluding the A$143/oz accounting adjustment on early declaration of commercial production at Never Never underground mine) - Production Guidance met for the 6th conse
Slide 5: Gold Production by Quarter
For personal use only Gold Production by Quarter 5
Slide 6: Mining & Gold Production | positive impact of Never Never ore
For personal use only Mining & Gold Production | positive impact of Never Never ore ORE TONNES MINED MINED GRADE ORE TONNES MILLED MILLED GRADE GOLD PRODUCTION 0.6Mt 3.30g/t 0.5Mt 3.59g/t 53koz Au Increased underground 35% increase in mined March Quarter impacted In line with improved FY26 productio
Slide 7: Dalgaranga | outstanding site project progress
Dalgaranga | outstanding site project progress Underground pump station • Never Never transitioned to commercial production in March 2026, three months earlier than initially expected based on improved gold price and For personal use only mined grades. • Capital works progressing well focus on paste
Slide 8: Financials | cash generation increasing
Financials | cash generation increasing For personal use only GOLD SALES REALISED GOLD PRICE AISC FREE CASH FLOW1 CASH & GOLD 52k A$6,230 A$1,973 A$138.3 A$649.6 ounces of gold dollars per ounce dollars per ounce million million In line with increased Up 8% Q-on-Q, no hedge 11% reduction from Q3 Aft
Slide 9: AISC | low-cost operation with more high-grade to come
AISC | low-cost operation with more high-grade to come AISC RECONCILIATION • Excluding the earlier than expected For personal use only commercial production (capital allocation change) from Never Never, the AISC for FY26 was A$1,840/oz, meeting initial Guidance (A$1,700 - 1,900/oz) • Importantly, th
Slide 10: June Cash Flow | ~60% of underlying FCF returned to shareholders
June Cash Flow | ~60% of underlying FCF returned to shareholders QUARTERLY MOVEMENT IN CASH & GOLD Other cash flow • A$84.6M returned to shareholders in Quarter by way of fully franked FY26 interim For personal use only dividend and share buybacks – represents 60% of underlying free cash flow genera
Slide 11: FY26 Cash Flow | strong cash flow generation as we invest in the future
FY26 Cash Flow | strong cash flow generation as we invest in the future FY26 MOVEMENT IN CASH & GOLD Other cash flow For personal use only • A$255.1M returned to shareholders in FY26 by way of fully franked dividends and share buybacks – represents 65% of underlying free cash flow generated • Income
Slide 12: Edna May sale | exceptional value creation
Edna May sale | exceptional value creation • Acquisition cost of Edna May (A$59M), For personal use only Tampia (A$79M), & Symes (A$2M) of A$140M • Generated A$430M1 in pre-tax free cash flow under the operation of Ramelius • Total sale proceeds of A$300M1 with A$210M in cash and A$90M in Forrestani
Slide 13: Mt Magnet | exploration success leads to production upside
Mt Magnet | exploration success leads to production upside Mt Magnet 5-year production profile (koz) & low-grade Opportunities to displace low-grade For personal use only 1 Penny: extensions to Penny West to the south o FY26 exploration spend of A$7.0M o Mine plan to extend into FY27 2 Break of Day
Slide 14: Cue | Break of Day extensions and Lena underground potential
Cue | Break of Day extensions and Lena underground potential Recent results1 include: Lena For personal use only ➢ 19.7m at 5.73g/t ➢ 9.0m at 12.9g/t Break of Day ➢ 4.0m at 4.01g/t Lena conceptual design adds significant mine life to the Break of Day underground project NOTES 1 See RMS ASX “Explorat
Slide 15: Cue | Break of Day extensions and Lena underground potential
Cue | Break of Day extensions and Lena underground potential Current Mineral Resources: Break of Day Underground For personal use only ➢ 250Kt at 8.9g/t for 72koz1 Lena Underground: ➢ 910Kt at 3.6g/t for 110koz1 FY27 drill plan Continue surface drilling for conversion of Lena underground Inferred Mi
Slide 16: Galaxy | extending mine life by accelerated exploration
Galaxy | extending mine life by accelerated exploration Recent results include1: ➢ 20.2m at 40.7g/t ➢ 10.5m at 3.16g/t For personal use only ➢ 8.0m at 4.42g/t ➢ 12.0m at 3.38g/t ➢ 11.3m at 2.43g/t Current Mineral Resources: ➢ 6.2Mt at 2.7g/t for 530koz2 Exploration Target: ➢ 6.0 - 7.0Mt at 2.1 - 2.6
Slide 17: Franks Tower | high grade in the Eridanus corridor
Franks Tower | high grade in the Eridanus corridor Recent results1 include: ➢ 3.6m at 113g/t For personal use only ➢ 14.8m at 54.6g/t ➢ 3.8m at 5.01g/t ➢ 8.7m at 2.43g/t Recent drill results demonstrate Eridanus style mineralisation and high-grades up to 250m below surface Franks Tower Current Miner
Slide 18: Gilbey's Underground | new underground mine potential
Gilbey’s Underground | new underground mine potential Underground diamond drilling results1: For personal use only Gilbey’s underground: ➢ 1.6m at 130g/t ➢ 3.7m at 38.2g/t ➢ 3.7m at 16.6g/t ➢ 12.9m at 8.70g/t ➢ 16.6m at 6.01g/t Current Gilbey’s Underground Mineral Resources: ➢ 6.9Mt at 1.9 g/t for 3
Slide 19: Shareholder returns | "maintain, then grow"
Shareholder returns | “maintain, then grow” Interim Dividend (H1 FY26) Shareholder returns | (A$M) For personal use only • Fully franked at 3 cents per share (A$57.7M) • Paid 15 April 2026 • Exceeds the minimum dividend of 2 cents per share annual commitment for FY26 Share buybacks • A$250M share bu
Slide 20: Thank you
RAMELIUS RESOURCES LIMITED | ASX Code: RMS Thank you Level 13, 58 Mounts Bay Road, Perth, WA, 6000 Authorised for release to the ASX by the Managing Director For personal use only INVESTOR ENQUIRIES Mark Zeptner Managing Director Ramelius Resources Limited Ph: +61 8 9202 1127 Brian Massey GM – Inves
Slide 21: Mineral Resources
Mineral Resources Mineral Resources (Summary) MINERAL RESOURCES AS AT 30 JUNE 2025 - INCLUSIVE OF RESERVES Measured Indicated Inferred Total Resource Project Deposit For personal use only t g/t oz t g/t oz t g/t oz t g/t oz Open Pit deposits 2,200,000 1.6 110,000 36,000,000 1.5 1,700,000 20,000,000
Slide 22: Ore Reserves
Ore Reserves Ore Reserves (Summary) UPDATED ORE RESERVE STATEMENT AS AT 30 JUNE 2025 For personal use only Project Mine Prov en Probable Total Reserv e t g/t oz t g/t oz t g/t oz Total Open Pit 20,000,000 1.2 780,000 20,000,000 1.2 780,000 Total Underground 3,200,000 2.4 250,000 3,200,000 2.4 250,00