Ramelius Resources (RMS) investor relations material

Strategic growth and production outlook

• Targeting over 600koz annual gold production by FY30, representing 205% growth from FY26, with two high-quality hubs in Western Australia supported by a 14Moz resource base and 4.3Moz in reserves.

• FY27 production guidance is 205-225koz at an AISC of US$1,505–1,645/oz, rising to 560-610koz by FY30 with AISC between US$1,470–1,680/oz.

• Mt Magnet hub expansion and Rebecca-Roe greenfield development underpin growth, with mill capacity upgrades to 5Mtpa and 3.25Mtpa respectively.

• Exploration investment of US$70M in FY27 targets high-grade discoveries to further lift grades and extend mine life.

• Mt Magnet is positioned to become a top 10 global gold-producing hub by 2030.

Financial performance and capital discipline

• Free cash flow is projected at US$1.1–1.3bn annually by FY30, with strong leverage to gold price and sector-leading FCF per ounce.

• 65% of FY26 FCF was returned to shareholders while investing in growth, with total shareholder returns up 96% year-on-year.

• Maintains a robust balance sheet with US$0.7bn in cash, gold, and investments, and total liquidity of US$0.9bn.

• Historical ROI averages ~270% and IRR ~50% across major projects.

• Capital allocation prioritizes value-accretive growth, with major growth capital fully funded from reserves and future cash flow.

Operational excellence and cost leadership

• Consistently meets or beats production and cost guidance, with a sector-leading AISC margin averaging 62% for FY27–30.

• Maintains a cost position in the lowest third among global gold producers in Tier-1 jurisdictions.

• High-grade discoveries at Mt Magnet and Dalgaranga (Never Never) have displaced lower-grade feed, increasing margins and production.

• Processing plant upgrades and infrastructure investments enhance reliability, efficiency, and future scalability.

• Exploration and resource conversion at Galaxy, Cue, and Eridanus continue to add high-grade ounces and optionality.