Slide 1: FY24 Financial Year Results Presentation
Ramelius Resources Limited Mark Zeptner Darren Millman Managing Director Chief Financial Officer ASX:RMS FY24 FINANCIAL YEAR RESULTS PRESENTATION AUGUST 20241 FY24 FINANCIAL RESULTS • AUGUST 2024 July 2024
Slide 2: Qualification & Non-IFRS Financial Information
QUALIFICATION & 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 ris
Slide 3: FY24 Mining & Production Highlights
FY24 MINING & PRODUCTION HIGHLIGHTS ORE TONNES MINED (down 11%) MINED GRADE (up 15%) ORE TONNES MILLED (up 3%) 3.6Mt 2.49g/t 3.9Mt Completion of mining across Edna May hub; 3.9Mt Increased contribution from high-grade Penny Increased haulage capacity across Edna May; of high-grade stockpiles at 1.04
Slide 4: FY24 Financial Results
FY24 FINANCIAL RESULTS Financial results Unit FY24 FY23 Y-on-Y % Earnings Revenue A$M 882.6 631.3 + 40% Underlying EBITDA A$M 462.2 276.3 + 67% Underlying NPAT A$M 200.3 75.3 + 166% Earnings per share (basic) (cents per share) A$ cps 19.53 6.95 + 181% Gold ounces sold Koz 294 243 + 21% Average reali
Slide 5: FY24 Financial Highlights | Earnings
FY24 FINANCIAL HIGHLIGHTS | EARNINGS REVENUE (up 40%) UNDERLYING EBITDA (up 67%) UNDERLYING EBITDA PER OUNCE (up 39%) A$882.6 million A$462.2 million A$1,573/oz Increased production and A$ gold price Improving grades, production, and A$ gold price EARNINGS PER SHARE (up 181%) UNDERLYING NPAT (up 166
Slide 6: Underlying EBITDA by Operation
UNDERLYING EBITDA BY OPERATION UNDERLYING EBITDA MARGIN UNDERLYING EBITDA BY OPERATION (A$/M) UNDERLYING EBITDA MARGIN 52% as a percentage of revenue Very well placed within peer group ff A$1,573 per ounce sold UNDERLYING EBITDA BY OPERATION UNDERLYING EBITDA BY PER OUNCE SOLD (A$/OZ) Mt Magnet by f
Slide 7: Mt Magnet
MT MAGNET Key Earnings Driver ➢ Makes up 55% of gold production / revenue with 69% of underlying EBITDA ➢ Production in FY25 targeted to increase by ~ 50% (midpoint) Superior Margins and Returns ➢ EBITDA margin 70% for Mt Magnet ➢ EBITDA of A$2,121/oz Poised for Growth ➢ Increased production from hi
Slide 8: FY24 Financial Highlights | Cash
FY24 FINANCIAL HIGHLIGHTS | CASH OPERATING CASH FLOW (up 97%) FREE CASH FLOW (up 51%) UNDERLYING FREE CASH FLOW (up 1,053%) A$445.5 million A$212.1 million A$315.8 million Improved operating cash flow After strategic investment in Spartan and Musgrave acquisition CASH & GOLD ON HAND (up 64%) TOTAL C
Slide 9: Cash Flow
CASH FLOW RETURN TO SHAREHOLDERS UNDERLYING FREE CASH FLOW CAPITAL INVESTMENT A$17.3 million A$315.8 million A$240.3 million Plus, A$5.0 million in dividend reinvestment, Cash flows strengthened across the year Including mine development, exploration, total shareholder return of A$22.3 million ff ac
Slide 10: Balance Sheet Strength
BALANCE SHEET STRENGTH WORKING CAPITAL NET ASSETS CASH & GOLD A$406.2 million A$1,329.1 million A$446.6 million Remains strong after Spartan Over one billion in net assets, driven by Liquidity of $621.6 million including investment and Musgrave acquisition earnings, investments, and acquisitions $17
Slide 11: FY24 - Record Gold Production
FY24 - RECORD GOLD PRODUCTION FIVE YEAR PRODUCTION PROFILE (koz) RAMELIUS REGIONAL MAP OF OPERATIONS # Mid-point of FY25 Production Guidance, see ASX Release “FY25 Gold Production and AISC Guidance”, 29 July 2024 FY24 FINANCIAL RESULTS • AUGUST 2024 11
Slide 12: AISC - Delivering on Increased Margins
AISC - DELIVERING ON INCREASED MARGINS, EVEN BETTER THAN PREVIOUSLY FORECAST 10 YEAR AISC MARGIN (Including forecast for FY25 based on the mid-point of guidance) ➢ FY24 margin 47% over AISC ➢ FY25 assumes a A$3,500/oz spot gold price, plus existing forward contracts1 ➢ FY25 margin 52% over AISC ➢ Cu
Slide 13: FY25 Gold Production & AISC Guidance
FY25 GOLD PRODUCTION & AISC GUIDANCE - another strong year ahead ➢ Mt Magnet up 50% to 240,000 ounces at the mid-point ➢ Edna May to process remaining stockpiles to produce 45,000 ounces (mid-point) then C&M ➢ Edna May Stage 3 not proceeding in favour of better returns at Mt Magnet ➢ FY25 guidance A
Slide 14: Dividends - up 150% / 6th Consecutive Dividend Payment
DIVIDENDS - up 150% / 6th Consecutive Dividend Payment FINAL DIVIDEND DIVIDEND HISTORY (A$M) ➢ Fully franked dividend at 5.0 cents (A$57.2M) ➢ Record / Payment date: 16 Sept / 17 Oct 2024 ➢ Pay-out ratio of 27% of free cash flow ➢ Returns A$195/oz produced ➢ Yield of 2.6%1 ➢ TSR2 average 21.0% p.a.
Slide 15: Ramelius - Well Positioned for FY25 and Beyond
RAMELIUS - WELL POSITIONED FOR FY25 AND BEYOND Proven management team adept in either greenfield development or Operational Excellence refurbishment & operation of both open pit and underground mines Strong balance sheet, disciplined approach to capital management with a focus Balance Sheet & Use of
Slide 16: Questions?
QUESTIONS? 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 Director Chief Financ
Slide 17: Appendix 1: FY24 Mt Magnet Operating Highlights
APPENDIX 1: FY24 MT MAGNET OPERATING HIGHLIGHTS continued downward trend in Q4 with costs <A$1,000/oz ➢ Safety: three (3) Restricted Work Injuries during the Quarter, no Lost Time Injuries ➢ Production: 160,765 ounces of gold produced at Mt Magnet ➢ Costs: AISC of A$1,313/oz which has continued the
Slide 18: Appendix 2: FY24 Edna May Operating Highlights
APPENDIX 2: FY24 EDNA MAY OPERATING HIGHLIGHTS unlocking value in stockpiles across the hub ➢ Safety: one (1) Restricted Work Injuries during the Quarter, no Lost Time Injuries ➢ Production: 132,268 ounces of gold produced at Edna May ➢ Costs: AISC of A$1,906/oz which includes a A$230/oz non-cash ch
Slide 19: Appendix 3: Reconciliation of Statutory and Underlying Earnings
APPENDIX 3: RECONCILIATION OF STATUTORY AND UNDERLYING EARNINGS Earnings ($M) FY24 FY23 FY22 FY21 FY20 Statutory NPAT 216.6 61.6 12.4 126.8 113.4 Add back: income tax expense 60.4 28.7 10.1 48.0 36.1 Add / (less): net finance cost / (income) (8.0) 1.9 2.6 2.6 3.0 EBIT 269.0 92.2 25.1 177.4 152.5 Add
Slide 20: Appendix 4: Reconciliation of Cash Flow
APPENDIX 4: RECONCILIATION OF CASH FLOW Cash flow (A$M) FY24 FY23 FY22 FY21 FY20 Receipts from customers 883.7 630.8 604.2 634.1 466.3 Payments to suppliers (430.4) (378.8) (394.7) (304.6) (230.0) Interest received 11.4 3.1 0.5 0.7 0.9 Lease payments (19.2) (28.8) (25.5) (21.9) (15.7) Operating cash
Slide 21: Appendix 5: Reconciliation of Working Capital
APPENDIX 5: RECONCILIATION OF WORKING CAPITAL Working capital (A$M) FY24 FY23 FY22 FY21 FY20 Cash 424.3 251.0 147.8 228.5 165.7 Gold bullion on hand (at spot) 22.4 21.1 25.1 5.5 19.8 Receivables 3.7 2.7 7.2 1.9 3.2 Current stockpiles & gold in circuit (at cost) 89.9 105.4 100.8 82.7 78.7 Trade payab
Slide 22: Appendix 6: Annual Production | 5-Year History
APPENDIX 6: ANNUAL PRODUCTION | 5-YEAR HISTORY TONNES MINED (kt) CONTAINED GOLD MINED (koz) MILLED GRADE (g/t) GOLD PRODUCTION (koz) REALISED GOLD PRICE (A$/OZ) AISC (A$/OZ) Refer to Appendix 9 for definitions on operating and financial metrics FY24 FINANCIAL RESULTS • AUGUST 2024 22
Slide 23: Appendix 7: Earnings | 5-Year History
APPENDIX 7: EARNINGS | 5-YEAR HISTORY REVENUE (A$M) UNDERLYING EBITDA (A$M) UNDERLYING NPAT (A$M) UNDERLYING FREE CASH FLOW BASIC EPS (cps) UNDERLYING BASIC EPS (cps) (INCLUDING BULLION) (A$M) Refer to Appendix 9 for definitions on operating and financial metrics FY24 FINANCIAL RESULTS • AUGUST 2024
Slide 24: Appendix 8: FY24 All In Costs (AIC) Updated
APPENDIX 8: FY24 ALL IN COSTS (AIC)1 UPDATED 1. See ASX Release “June 2024 Quarterly Activities Report”, 29 July 2024. Subsequent to the release of the June 2024 Quarterly Report, an error was noted in the reported YTD AIC for FY24. The corrected YTD AIC is shown in the table above. The incorrect (o
Slide 25: Appendix 9: Definitions
APPENDIX 9: DEFINITIONS AISC: All-In Sustaining Cost calculated in accordance with World Gold Council Guidance Note on AISC and AIC released on 14 November 2018 AIC: All-In Cost calculated in accordance with World Gold Council Guidance Note on AISC and AIC released on 14 November 2018 NPAT: Net prof