Ramelius Resources Limited · ASX:RMS
Ramelius Resources — Shareholder Meeting (November 2025)
24 slides from Ramelius Resources's shareholder meeting presentation, Nov 25, 2025
Slide 1: 2025 Annual General Meeting
25 November 2025 RAMELIUS RESOURCES LTD 2025 ANNUAL GENERAL MEETING Ramelius Resources Limited (ASX: RMS) provides a copy of the: (a) Chair’s address; and (b) Managing Director’s presentation, ahead of its Annual General Meeting today, 25 November 2025. For personal use only This ASX announcement wa
Slide 2: Chair's address
Ladies and gentlemen, fellow shareholders, Thank you for joining us today. It is my pleasure to report on what has been a truly transformational year for Ramelius. Last year, I spoke of record achievements in production, cash flow and growth. This year, we have not only set new records again, but we
Slide 3: Chair's address (continued)
and demonstrated the strategic alignment with Spartan. Having already secured a strategic position in Spartan, we moved quickly into a binding Transaction Implementation Deed. The combination was finalised shortly after financial year-end, and importantly, the strong working relationship between tea
Slide 4: 2025 Annual General Meeting - Managing Director
For personal use only 2025 Annual General Meeting Mark Zeptner | Managing Director | 1
Slide 5: Qualifications & Non-IFRS financial information
Qualifications & Non-IFRS financial information Forward Looking Statements For personal use only 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
Slide 6: Corporate overview
Corporate overview Corporate Profile Capital Structure For personal use only Board of Directors Market Cap1 A$ 6.5B Bob Vassie Simon Lawson Non-Executive Chair Deputy Chair Cash & Gold2 A$ 828M2 OUR MISSION To be a sustainable gold Mark Zeptner Managing Director Listed investments2 A$ 67M producer t
Slide 7: FY25 review | record gold production & financials
FY25 review | record gold production & financials For personal use only REVENUE (up 36%) EBITDA (up 81%) EBITDA PER OUNCE (up 72%) A$1.2 billion A$818.6 million A$2,712/oz • Record revenue • Record EBITDA • Record EBITDA margin • Record production and higher A$ • Focus on high-grade ore sources • Ma
Slide 8: FY25 cash flow | peer comparison
FY25 cash flow | peer comparison INDUSTRY LEADING (ASX) UNDERLYING FREE CASH FLOW PER OUNCE PRODUCED (FY25) For personal use only | 5
Slide 9: 2-Year cash flows | building an outstanding balance sheet
2-Year cash flows | building an outstanding balance sheet For personal use only Cash flow from operations (A$M) & Realised gold price (A$/oz) Free cash flow1 (A$M) & Realised gold price (A$/oz) Cash and gold (A$M) Notes 1 Free cash flow represents the underlying free cash flow which is total cash fl
Slide 10: Shareholder returns | FY25 dividend up 60%
Shareholder returns | FY25 dividend up 60% For personal use only FY25 Final Dividend Dividend History | cps | A$M • Fully franked at 5 cents per share (A$95.6 million) FY25 Total Dividend • Fully franked at 8 cents per share (incl. 3 cents per share interim) • Pay-out ratio of 29% of free cash flow
Slide 11: Ramelius' Vision | to be a +500koz p.a. producer by FY30
Ramelius’ Vision | to be a +500koz p.a. producer by FY30 For personal use only The creation of a leading Australian Gold Company with highly profitable operations, a supercharged growth profile and exceptional exploration upside A$6.5Bn A$827.7M 12Moz Au 4.2Moz Au 195koz Au Market cap1 Cash & gold2
Slide 12: 5-Year Outlook (base case) | 525koz p.a. by FY30
5-Year Outlook (base case) | 525koz p.a. by FY30 For personal use only 5-Year and long-term Group production profile (koz) & AISC (A$/oz) ~ 525koz p.a. long term production rate +A$1Bn free cash flow p.a. from FY30 at A$4,500/oz A$1,975/oz AISC average over next 5-years (peer leading) and lower from
Slide 13: Mt Magnet Hub | base case + exploration upside
Mt Magnet Hub | base case + exploration upside For personal use only Displacing low-grade MT MAGNET 5-YEAR PRODUCTION PROFILE (KOZ) & LOW-GRADE MATERIAL 1 Penny: extensions to the existing Penny North high-grade deposit o Exploration spend for FY26 of A$10-12M 2 Cue: underground extensions, followin
Slide 14: Mt Magnet + Dalgaranga | synergies
Mt Magnet + Dalgaranga | synergies For personal use only Capital savings: ~A$100M1 Cash tax benefits: A$720M4 • Preferred single upgraded Mt • New tax base established on Spartan Magnet plant vs two separate plants acquired assets allowing higher facilities (Mt Magnet + Dalgaranga) taxable depreciat
Slide 15: Value accretive M&A | return on investment
Value accretive M&A | return on investment For personal use only LOM CASH FLOWS – AS AT SEPTEMBER 2025 (A$M) [ ] shows change in September 2025 Qtr • Track record of generating positive (net) cash flow1 from new projects • Cue generated A$420M2 in free cash flow since commencement in FY25 – fully re
Slide 16: Ramelius' investment case
Ramelius’ investment case For personal use only Reliable Sector leading operational team cash flows Stand-out in sector for High margin / free cash flow delivery of Guidance focused business with long life assets (Mt Magnet & Rebecca-Roe) Dividend yield well 170% production growth above mid-tier ASX
Slide 17: Thank you
For personal use only Thank you | 14
Slide 18: Appendices
Appendices For personal use only Mineral Resources Ore Reserves Supporting workings | 15
Slide 19: 2025 | Mineral Resource Statement
2025 | Mineral Resource Statement For personal use only MINERAL RESOURCES AS AT 30 JUNE 2025 - INCLUSIVE OF RESERVES For detailed information relating to Measured Indicated Inferred Total Resource Project Deposit Mineral Resources refer to the Mt g/t Koz Mt g/t Koz Mt g/t Koz Mt g/t Koz following AS
Slide 20: 2025 | Ore Reserve Statement
2025 | Ore Reserve Statement For personal use only ORE RESERVE STATEMENT AS AT 30 JUNE 2025 For detailed information relating to Ore Project Deposit Proven Probable Total Reserve Reserves refer to the following ASX Mt g/t Koz Mt g/t Koz Mt g/t Koz Releases (RMS): Open Pit deposits 20 1.2 780 20 1.2
Slide 21: FY25 | supporting cash flow workings (ASX)
FY25 | supporting cash flow workings (ASX) For personal use only | 18
Slide 22: FY25 | underlying free cash flow per ounce calculation (ASX)
FY25 | underlying free cash flow per ounce calculation (ASX) For personal use only | 19
Slide 23: Disclaimer | Definitions
Disclaimer | Definitions DISCLAIMER For personal use only The peer information has been sourced from publicly available information and includes non-IFRS information. The reporting and calculation of non-IFRS information may vary from company to company. Whilst efforts have been made to harmonise th
Slide 24: Thank you
Thank you For personal use only RAMELIUS RESOURCES LIMITED | ASX Code: RMS Level 13, 58 Mounts Bay Road, Perth, WA, 6000 Authorised for release to the ASX by the Managing Director INVESTOR ENQUIRIES Mark Zeptner Managing Director Ramelius Resources Ltd Ph: +61 8 9202 1127 Darren Millman Chief Financ
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