Ramelius Resources (RMS) investor relations material

Executive summary

• Achieved sixth consecutive year of meeting production and cost guidance, with sector-leading cash flows and strong operational performance.

• Completed acquisition of Dalgaranga Gold Mine and agreed to sell Edna May Hub for AUD 300 million, consolidating core assets.

• Maintained and grew shareholder returns with a AUD 250 million share buyback, total FY26 returns of AUD 256 million, and fully franked dividends totaling 6.0cps.

• Transitioned Never Never underground to commercial production ahead of schedule, with a maiden Ore Reserve of 1.6Moz at 7.3 g/t.

• Gold sold dropped 37% to 190,261 oz, but realised gold price surged 36% to AUD 5,400/oz.

Financial highlights

• Underlying EBITDA of AUD 765.4 million at a 74% margin, with underlying NPAT of AUD 319.9 million.

• Operating cash flow of AUD 702.1 million and underlying free cash flow of AUD 393.3 million.

• Cash and gold on hand at year-end was AUD 649.6 million, with total liquidity of AUD 1.15 billion including undrawn credit facility.

• Total dividends for FY26 at 6.0cps, with a final fully franked dividend of 3.0cps.

• Returned 65% of underlying free cash flow to shareholders, with total shareholder return of 13.1% over five years.

Outlook and guidance

• Four-year production outlook and FY27 guidance to be released in September, post EPC contract finalization.

• Sector-wide inflationary pressures expected to increase costs by 8% in FY27, with higher royalties, diesel, and fuel costs.

• Five-year plan targets production above 500,000 ounces per annum by FY30, with growth from Mt Magnet and Rebecca-Roe hubs.

• Exploration budget for FY27 set between AUD 90 million and AUD 110 million.

• Productivity at Galaxy expected to rise to 800ktpa, requiring AUD 30 million additional sustaining capital in FY27.