Resolute Mining Limited · ASX:RSG
Resolute Mining — Q4 2025 Earnings Presentation
30 slides from Resolute Mining's earnings presentation, Jan 22, 2026
Slide 1: Q4 2025 and FY 2025 Activities Report
Q4 2025 and FY 2025 Activities Report 22 January 2026
Slide 2: Disclaimer
Disclaimer This presentation contains information about Resolute Mining Limited (Resolute or the and should not be relied upon as an indication of future performance. from reports entitled ‘Ore Reserves and Mineral Resource Statement’ announced on 11 Company) and its activities that is current as at
Slide 3: Speakers
Speakers o CEO – Chris Eger o COO – Gavin Harris o CFO – Dave Jackson o Corporate Development and Investor Relations – Matty O'Toole-Howes 3
Slide 4: Q4 – Strong Performance
A positive end to the year Q4 – Strong Performance Metrics Activities o 65,918 oz – Gold Poured o Operations • Syama – responded to supply chain challenges and • Syama: 47,163 oz achieved strong operating performance • Mako: 18,755 oz • Mako – stockpile processing continued to exceed expectations o
Slide 5: 2025 – A Pivotal Year
Building a foundation for future growth 2025 – A Pivotal Year Metrics Achievements o Delivered Group production and cost guidance o 277,236 oz – Gold Poured despite supply chain challenges in Mali • Syama: 176,341 oz • Mako: 100,895 oz o Strengthened government relations across all jurisdictions o $
Slide 6: Organic Growth Profile
Growing annual production to over 500koz by end 2028 Organic Growth Profile1 Areas for potential Targeted growth further growth: with Doropo 700 >500 koz • Existing Exploration 600 Target 500 koz pa Portfolio (ABC 500 Achieved Guidance 277 koz 250-275 250-275 Project, Le Debo) 400 koz koz 300 200 •
Slide 7: 2026 Guidance
Major investment into organic growth projects 2026 Guidance o Gold Production: 250 – 275 koz • Syama: 195 – 210 koz • Mako: 55 – 65 koz Mali o Group AISC1: $2,000 – 2,200/oz • Syama: $1,950 – 2,150/oz Senegal Mako • Mako: $1,600 – 1,800/oz Syama Mansala1 o Capital Expenditure: $310 - 360 million Gui
Slide 8: Côte d'Ivoire
Côte d’Ivoire 8
Slide 9: Doropo
A high-quality development project in NE Côte d’Ivoire Doropo Doropo Côte 2025 Activities d’Ivoire o Acquired along with the ABC Project from AngloGold Ashanti in May 2025 Abidjan o Hired Project Director - Rob Cicchini o Updated Resources – 28% increase from previous MRE Project Metrics 2025 DFS o
Slide 10: Doropo Project – Updated DFS
Doropo Project – Updated DFS Production2 and AISC3 • Post-tax project NPV5% of US$2.5 bn1 at gold price assumption of US$4,000/oz Gold Prod (Koz) AISC $1,554 $1,596 $1,608 $1,572 $1,522 $1,522 $1,590 $1,363 $1,428 $1,291 $1,323 $1,198 • DFS outlined larger, longer-life operation with LOM $1,078 aver
Slide 11: Doropo – 2026 Key Activities
Doropo – 2026 Key Activities Permitting • $170 – 190 million capital expenditure planned in 2026; expenditure weighted to the second half of year • Awaiting approval of the Mining Permit which is expected in in the (75%) next month; FID to follow • Resettlement and livelihood programs to advance • T
Slide 12: Mali
Mali 12
Slide 13: Syama Operation
Stable performance in a challenging environment Syama Operation o Full-year 176.3 koz gold production at AISC of $2,008/oz both within guidance with Q4 — second strongest quarter of 2025 o Full-year $84.5 million capital expenditure in-line with guidance — $24 million associated with the SSCP o Succ
Slide 14: Syama Sulphide Conversion Project – On Track, On Budget
Syama Sulphide Conversion Project – On Track, On Budget • No LTIs after c.1 million person-hours worked until end of 2025 Q1 2026 Q2 2026 Q3 2026 Q4 2026 Pebble Crusher Commissioning • 2025 capital expenditure of $23.9 million below guidance ($30 Flotation Construction & Commissioning million) as se
Slide 15: Syama Guidance
Maintaining operational flexibility at Syama Syama Guidance Mining across open pit and underground operations expected at c. 4 Mt 195 – 210 koz $1,950-2,150/oz (c. 90% sulphide ore); open pit strip ratio of 10:1 Gold Production AISC1 Approx. 1 Mt of sulphides mined from Syama North (A21) open pi
Slide 16: Senegal
Senegal 16
Slide 17: Mako Operation
Stockpile processing exceeded expectations Mako Operation • Full-Year 100.3 koz gold production at AISC of $1,270/oz in line with guidance • Full-year $2.9 million capital expenditure for ongoing TSF raise and plant maintenance • Operation successfully ceased open pit mining activities and transitio
Slide 18: Mako Life Extension Project
Mako Life Extension Project Tomboronkoto – 377 koz at 1.7 g/t Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2026 2026 2026 2026 2027 2027 2027 2027 2028 2028 2028 2028 • ESIA report has been pre-validated by technical agencies in advance of Permitting and licensing ministerial approval Plant Modifications • M
Slide 19: Mako Guidance
Full-year of stockpile processing Mako Guidance 55 – 65 koz $1,600-1,800/oz Plant scheduled to process c. 2.2 Mt of stockpile Gold Production AISC1 material at an average grade of ~ 0.9 g/t and recovery of ~ 90% Quarterly Gold Production Gold production expected to be steady through out the 25 y
Slide 20: Exploration
Exploration 20
Slide 21: Highlights
Strong exploration pipeline underpins future growth profile Highlights Syama 2025 Activities ($24.1 million expenditure) (Mali) Production • Senegal – initial MRE at Bantaco (0.27 Moz) Mako (Senegal) • Cote d’Ivoire – updated MRE at Doropo (4.4 Moz) and La Debo (0.64 Moz) Doropo (Côte d’Ivoire) Deve
Slide 22: ABC Project
ABC Project Awale-Newmont JV Farako-Nafana Permit Q4 Key Activities Kona Trend 100 km long gold anomaly • In Q4 drilling commenced across the Farako-Nafana and Kona permits with c. 10,000m completed • Drill highlights include: Kona N&S • Farako-Nafana - 31m grading 2.4 g/t from 13 m Kona Permit 2.2M
Slide 23: La Debo Project
La Debo Project Q4 Key Activities • Updated MRE across G3S and G3N deposits of 643 koz grading 1.14 g/t Au • Over 16,000 m of drilling completed in 2025 2026 Activities • At least 3,500m of drilling planned to test high-grade extensions at G3S • A strong gold anomaly at G1 prospect area to be drill
Slide 24: Financial Summary
Financial Summary 24
Slide 25: Financial Highlights
Net cash position of over $200 million Financial Highlights $383 million $314 million 1 1 2025 EBITDA 2025 Operating CF $209 million $322 million Net Cash Available Liquidity $1,843/oz $1,877/oz 2025 Group AISC Q4 Group AISC 25 1. Unaudited
Slide 26: Cash Flow Summary
Balance sheet provides base for growth Q4 Net Cash Movements Cash Flow Summary 85.7 29.0 209.1 Cashflow $'m 136.6 (28.7) (13.5) • 2025 group capital expenditure of $117.5 million - in line with guidance ($109-126 million) Net Cash Operating Capex & VAT Paid Working Net Cash 1 Oct 25 Cash Exploration
Slide 27: Upcoming Objectives
Upcoming Objectives 27
Slide 28: Next Steps
Strong organic growth pipeline Next Steps 2026 2027 2028 • Award of Doropo Mining Permit and FID • Continue Doropo construction Cote • Doropo commissioning and ramp • Commence Doropo construction • Follow up studies at La Debo and d’Ivoire up activities ABC Project • La Debo and Kona Scoping Studies
Slide 29: Resolute Summary
Resolute Summary Achieved 2025 production guidance of 275 - 285 koz Net cash position of $209.1 million and strong free cash flow generation Committed to geographical diversification and further operating mines in new jurisdictions Advancing strategic initiatives across Côte d’Ivoire, Mali a
Slide 30: www.rml.com.au
Resolute www.rmi.com.au