Slide 1: March 2025 Quarterly Results
Ramelius Resources Limited For personal use only Mark Zeptner Darren Millman Managing Director Chief Financial Officer ASX:RMS MARCH 2025 QUARTERLY RESULTS April July2025 MARCH 2025 QUARTERLY RESULTS • APRIL 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
KEY HIGHLIGHTS Production & Guidance For personal use only ➢ Quarterly gold production of 80,455 ounces at an AISC of A$1,492/oz1 ➢ FY25 Guidance upgraded to 290,000 – 300,000 ounces at an AISC of A$1,550 – 1,650/oz1 ➢ Cue reconciliation completed resulting in 13,710 additional ounces, or 31% outper
Slide 4: Gold Production by Quarter
GOLD PRODUCTION BY QUARTER For personal use only MARCH 2025 QUARTERLY RESULTS • APRIL 2025 4
Slide 5: Q3 FY25 Mining & Production
Q3 FY25 MINING & PRODUCTION - strong production continuing from Q2 For personal use only ORE TONNES MINED MINED GRADE ORE TONNES MILLED MILLED GRADE GOLD PRODUCTION 0.3Mt 6.15g/t 0.8Mt 3.01g/t 80koz million tonnes mined grams per tonne million tonnes milled grams per tonne gold production Sourced fr
Slide 6: Mt Magnet Q3 FY25 Operating Highlights
MT MAGNET Q3 FY25 OPERATING HIGHLIGHTS - low-cost with significant cash flow ➢ Safety: One (1) Lost Time Injury and nil (0) Restricted Work Injuries For personal use only ➢ Production: 67,464 ounces of gold produced ➢ Costs: AISC of A$1,226 per ounce ➢ Operations: Continued mining of Break of Day, W
Slide 7: Penny - YTD FY25 Free Cash Flow of A$130M
PENNY - YTD FY25 free cash flow of A$130M ➢ Production For personal use only . ▪ Mined: 32kt at 9.81g/t for 10,191oz ▪ Milled: 42kt at 9.23g/t ▪ Production: 12,592 gold ounces ➢ Financials ▪ Free Cash Flow: A$35 million ▪ AISC: A$1,513 per ounce ➢ Penny West incline developed up to bottom ore drive
Slide 8: Penny - Exploration Drilling
PENNY - exploration drilling ➢ Diamond drilling continued to test both For personal use only . extensional and conceptual targets along strike and down-plunge of the Penny West and Penny North mineralised lodes, results include; ➢ Penny North down-dip Target ▪ 0.55m at 22.5g/t Au from 329m ▪ 0.70m a
Slide 9: Cue - Continuing Strong Production and Financial Performance
CUE - continuing strong production and financial performance ➢ Production For personal use only ▪ Mined: 168kt at 7.19g/t for 38,747 ounces ▪ Milled: 98kt at 11.90g/t ▪ Production: 36,745 gold ounces ▪ Inventory: 170kt at 1.70g/t for 9,315 ounces of contained gold ➢ Financials ▪ Free Cash Flow: A$11
Slide 10: Cue - Exploration Drilling
CUE - exploration drilling ➢ Results from previously completed diamond drilling at For personal use only Cue included: ▪ Break of Day o 0.9m at 7.51g/t from 374m o 6.2m at 60.3g/t from 425m (80m below modelled lode as shown opposite) ▪ Big Sky o 1.6m at 3.04g/t from 128m o 2.9m at 1.54g/t from 177m
Slide 11: Mt Magnet - Hesperus Exploration Drilling
MT MAGNET - Hesperus exploration drilling ➢ Recent results include: For personal use only ▪ 23.14m at 10.2g/t from 274m ▪ 98.0m at 1.79g/t from 182m ➢ Significant potential below existing pit Hesperus – cross section with GXDD0230 Hesperus – cross section with GXDD0232 MARCH 2025 QUARTERLY RESULTS •
Slide 12: Mt Magnet - Galaxy/Saturn Exploration Drilling
MT MAGNET - Galaxy/Saturn exploration drilling ➢ Exploration diamond drilling at Saturn East, For personal use only results to date include: ▪ 4.97m at 4.25g/t from 172m ▪ 4.0m at 8.60g/t from 186m ▪ 9.38m at 1.88g/t from 249m ➢ Potential shallow BIF and Intrusive resources adjacent to current minin
Slide 13: Edna May Q3 FY25 Operating Highlights
EDNA MAY Q3 FY25 OPERATING HIGHLIGHTS - generating meaningful cash flow to the end ➢ Safety: no Lost Time Injuries or Restricted Work Injuries during the Quarter For personal use only ➢ Production: 12,991 ounces of gold produced ➢ Costs: AISC of A$2,802 per ounce ➢ Operations: transitioned to care a
Slide 14: FY25 Gold Production & AISC Guidance - Upgraded
FY25 GOLD PRODUCTION & AISC GUIDANCE - upgraded ➢ Full Year production and AISC guidance For personal use only has been updated to 290,000 – 300,000 ounces at an AISC of A$1,550 – 1,650/oz ➢ Depreciation & amortisation Guidance reduced to A$160 – 180M, in line with YTD cost incurred ➢ As a result of
Slide 15: Value Generating M&A - Return on Investment Scoresheet
VALUE GENERATING M&A - return on investment scoresheet LOM CASH FLOWS – AS AT MARCH 2025 ➢ Track record of generating positive (net) For personal use only [ ] shows change in Q3 FY25 cash flow1 from new projects ➢ Cue generated A$130M in free cash flow in the Quarter with the acquisition & capital d
Slide 16: Q3 FY25 Financials
Q3 FY25 FINANCIALS For personal use only GOLD SALES REALISED GOLD PRICE AISC FREE CASH FLOW1 CASH & GOLD 84koz A$4,251 A$1,492 A$223.0 A$657.1 in gold sales dollars per ounce dollars per ounce million million Largely in line with Up 15% Q-on-Q In line with prior Quarter Record cash flow Liquidity of
Slide 17: A$223.0M Free Cash Flow for Q3 FY25
A$223.0M FREE CASH FLOW FOR Q3 FY25 - best cash flow generation on record ➢ Q3 FY25 gold production of 80,455oz For personal use only and AISC of A$1,492/oz ➢ FY25 gold production & AISC Guidance updated to 290,000 – 300,000oz at an AISC of A$1,550 – 1,650/oz1 ➢ FY25 YTD underlying free cash flow of
Slide 18: Cash Flow - Continuing to Generate Significant Cash Flows
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 19: 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 track Deliver FY25 Guidance On track Mt Magnet Complete Eridanus underground/open pit studies Done Complete Mt Magnet Processing Faci
Slide 20: 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 21: 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 22: 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 23: 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
Slide 24: Transaction Timetable
TRANSACTION TIMETABLE Event Date For personal use only Spartan submits draft Transaction Booklet to ASIC Late May 2025 First Court Date for Scheme Mid June 2025 Takeover Offer Period commences1 Mid June 2025 Scheme Booklet released to shareholders Mid June 2025 Scheme Meeting Mid July 2025 If the Sc