Slide 1: June 2025 Quarterly Results
Ramelius Resources Limited ASX:RMS For personal use only Mark Zeptner Tim Hewitt Darren Millman Managing Director Chief Operating Officer Chief Financial Officer JUNE 2025 QUARTERLY RESULTS JulyJuly 2025 JUNE 2025 QUARTERLY RESULTS • JULY 2025 2024 1
Slide 2: Qualification & Non-IFRS Financial Information
QUALIFICATION & 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 3: Key Highlights | June Quarter
KEY HIGHLIGHTS | JUNE QUARTER Production & Costs For personal use only ➢ Quarterly gold production of 73,454 ounces at an AISC of A$1,339/oz (costs down 10% on March 2025 Quarter)1 ➢ Exceeds upper end of upgraded Guidance range of 62,000 – 72,000 ounces ➢ Sector leading AISC margin of A$3,103/oz, or
Slide 4: Key Highlights | FY25
KEY HIGHLIGHTS | FY25 Production & Costs For personal use only ➢ Record gold production of 301,664 ounces at an AISC of A$1,551/oz1 ➢ Exceeds upper end of upgraded production Guidance range of 290,000 – 300,000 ounces and at the bottom of the upgraded AISC Guidance range of A$1,550 – 1,650/oz2 ➢ Fif
Slide 5: Gold Production by Quarter
GOLD PRODUCTION BY QUARTER For personal use only JUNE 2025 QUARTERLY RESULTS • JULY 2025 5
Slide 6: Q4 FY25 Mining & Production
Q4 FY25 MINING & PRODUCTION | continued focus on high-grade ore For personal use only ORE TONNES MINED MINED GRADE ORE TONNES MILLED MILLED GRADE GOLD PRODUCTION 0.3Mt 6.87g/t 0.5Mt 5.02g/t 73koz Up 20% on prior Improving grades from Edna May placed into Function of mined No processing at Quarter wi
Slide 7: FY25 Mining & Production
FY25 MINING & PRODUCTION | a record year for Ramelius For personal use only ORE TONNES MINED MINED GRADE ORE TONNES MILLED MILLED GRADE GOLD PRODUCTION 1.3Mt 5.70g/t 3.3Mt 3.00g/t 302koz Completion of mining Focus on high-grade ore Edna May placed into High-grade ore mined Result of focus on at Edna
Slide 8: Q4 FY25 Mt Magnet Operating Highlights
Q4 FY25 MT MAGNET OPERATING HIGHLIGHTS | low-cost with significant cash flow ➢ Safety: One (1) Lost Time Injury and four (4) Restricted Work Injuries For personal use only ➢ Production: 72,575 ounces of gold produced (up 8% on Q3 FY25) ➢ Costs: AISC of A$1,310 per ounce, sector leading (up 7% on Q3
Slide 9: FY25 Mt Magnet Operating Highlights
FY25 MT MAGNET OPERATING HIGHLIGHTS | low-cost with significant cash flow ➢ Safety: Three (3) Lost Time Injuries and seven (7) Restricted Work Injuries For personal use only ➢ Production: 248,108 ounces of gold produced (up 54% on FY24) ➢ Costs: AISC of A$1,314 per ounce, sector leading (in line wit
Slide 10: Penny | Strong Year and Quarter
PENNY | strong Year and Quarter with FY26 focus on exploration to extend mine life ➢ June 2025 Quarter For personal use only ▪ Mined: 50kt at 17.78g/t for 28,446 ounces of contained gold ▪ Milled: 46kt at 17.82g/t and recovery of 98.5% for 26,241 ounces of recovered gold ▪ Gold production: 25,410 go
Slide 11: Penny | FY26 Focus on Exploration
PENNY | strong Year and Quarter with FY26 focus on exploration to extend mine life ➢ Surface diamond drilling continued to define a For personal use only target down plunge of the Penny North Lode ➢ Surface drilling is continuing and infill drilling from an underground platform at Penny West will co
Slide 12: Cue | Phenomenal First Year of Production
CUE | phenomenal first year of production and financial returns ➢ June 2025 Quarter For personal use only ▪ Mined: 204kt at 6.55g/t for 42,956 ounces of contained gold ▪ Milled: 149kt at 8.19g/t and recovery of 97.3% for 38,048 ounces of recovered gold ▪ Gold production: 36,490 gold ounces at an AIS
Slide 13: Mt Magnet | Perseverance South
MT MAGNET | Perseverance South (formerly Saturn East) For personal use only ➢ Following encouraging results from the prior Quarter RC & diamond drilling, evaluation continued focussing on the BIF immediately east of the Galaxy underground ➢ Significant recent results include: ▪ 13.2m at 6.95g/t from
Slide 14: Mt Magnet | Hesperus Exploration Drilling
MT MAGNET | Hesperus exploration drilling For personal use only ➢ Continuing to test granodiorite hosted mineralisation with deeper drilling targeting a BIF ➢ Recent results include: ▪ 18.0m at 5.35g/t from 114m ▪ 18.0m at 2.86g/t from 76m ▪ 1.44m at 8.40g/t from 179m ➢ Significant potential below e
Slide 15: FY25 Edna May Operating Highlights
FY25 EDNA MAY OPERATING HIGHLIGHTS | generating meaningful cash flow to the end ➢ Safety: no Lost Time Injuries and three (3) Restricted Work Injuries For personal use only ➢ Production: 53,556 ounces of gold produced ➢ Costs: AISC of A$2,608 per ounce ➢ Operations: transitioned to care and maintena
Slide 16: Value Generating M&A - Return on Investment Scoresheet
VALUE GENERATING M&A - return on investment scoresheet LOM CASH FLOWS – AS AT JUNE 2025 ➢ Track record of generating positive (net) For personal use only [ ] shows change in Q4 FY25 cash flow1 from new projects ➢ Cue generated A$140M2 in free cash flow in the Quarter with the project now having full
Slide 17: Q4 FY25 Financials
Q4 FY25 FINANCIALS For personal use only GOLD SALES REALISED GOLD PRICE AISC FREE CASH FLOW1 CASH & GOLD A$4,442 A$1,339 A$207.8 A$809.7 76koz dollars per ounce million million in gold sales dollars per ounce Largely in line with Up 5% Q-on-Q Negligible production from Continued strong cash Liquidit
Slide 18: Q4 FY25 Free Cash Flow
Q4 FY25 FREE CASH FLOW | A$207.8M | continuing strong Quarterly cash generation ➢ Q4 FY25 gold production of 73,454oz For personal use only and AISC of A$1,339/oz ➢ Edna May care & maintenance costs include costs associated with the transition of that operation such as employee redundancies and is n
Slide 19: FY25 Financials
FY25 FINANCIALS For personal use only GOLD SALES REALISED GOLD PRICE AISC FREE CASH FLOW1 CASH & GOLD 303koz A$3,963 A$1,551 A$694.9 A$809.7 in gold sales dollars per ounce dollars per ounce million million Largely in line with Up 32% Y-on-Y Sector leading AISC per Record cash flow, more Liquidity o
Slide 20: FY25 Free Cash Flow
FY25 FREE CASH FLOW | A$694.9M | record cash flow generation For personal use only ➢ FY25 gold production of 301,664oz and AISC of A$1,551/oz ➢ Focus on high-grade ore sources with baseload mill feed being secured by existing stockpiles generated superior cash flow ➢ Total cash returned to sharehold
Slide 21: Cash Flow | Significant Cash Flows from Operations
CASH FLOW | continuing to generate significant cash flows from operations For personal use only 1 Free cash flow represents the underlying free cash flow which is total cash flow before one-off cash flows such as acquisitions and investments, taxes, stamp duty payments, and dividends 2 Total liquidi
Slide 22: Hedge Book | Increasing Exposure to Spot Gold Price
HEDGE BOOK| increasing exposure to spot gold price For personal use only 1 FY26 production based on the Ramelius 17-Year Mine Plan, see ASX Release “Ramelius’ new 17-Year, 2.1Moz Mine Plan at Mt Magnet, up 37% from 2024”, 11 March 2025 JUNE 2025 QUARTERLY RESULTS • JULY 2025 22
Slide 23: Key Focus Areas Remainder of CY25
KEY FOCUS AREAS REMAINDER OF CY25 Centre Description Status/Next Key Date For personal use only Corporate/Company Continue to improve Safety performance Group-wide On ongoing Rebecca-Roe Definitive Feasibility Study to be completed leading to FID September 2025 Quarter Exploration Exploration update
Slide 24: Thank You
THANK YOU For personal use only Ramelius Resources Limited ASX Code: RMS Level 1, 130 Royal Street East Perth WA 6004 Authorised for release to the ASX by the Managing Director For further information contact: Investor enquiries: Media enquiries: Mark Zeptner Darren Millman Luke Forrestal Managing D
Slide 25: Rebecca-Roe PFS Key Highlights
REBECCA-ROE PFS KEY HIGHLIGHTS* Parameter Unit Pre-Feasibility Study (December 2024) ➢ After tax net present value (NPV5%) of A$332 million at a base case General For personal use only Start date (site establishment) Mth January 2026 of A$3,500/oz Mining commencement Mth September 2026 Production co
Slide 26: Rebecca-Roe DFS
REBECCA-ROE DFS ➢ Board approval to commence Definitive For personal use only Study Definitive Feasibility Study Feasibility Study (DFS) Area + / - 10% accuracy 10% design / engineering ➢ Final Investment Decision targeted for Drilling Sterilise drilling for Camp, Airstrip and Roe waste dump Infrast
Slide 27: Mt Magnet & Dalgaranga – Significant Integration Opportunity
MT MAGNET & DALGARANGA – SIGNIFICANT INTEGRATION OPPORTUNITY Combination of Spartan excess processing capacity and high-grade ore with Ramelius’ large mineral resource For personal use only 1 Based on Ramelius ASX announcement dated 11 March 2025 titled “Ramelius’ new 17-Year, 2.1Moz Mine Plan at Mt