Ramelius Resources (RMS) AGM 2025 summary

Opening remarks and agenda

• The meeting opened with a safety briefing, acknowledgment of traditional landowners, confirmation of quorum, and hybrid attendance options for shareholders and proxies.

• Managing Director Mark Zeptner led the 2025 AGM, outlining the agenda and focus on sustainable gold production and stakeholder returns.

• Introductions included the board, executive team, and auditor, with procedures for questions and voting explained.

Financial performance review

• Achieved record gold production of 302,000 ounces, driving record revenue of A$1.2 billion, up 36% year-on-year.

• Net profit after tax reached A$474.2 million, a 119% increase, with earnings per share up 111% to 41.1 cents.

• EBITDA rose 81% to A$818.6 million, with a margin of 68%, and EBITDA per ounce doubled compared to FY24.

• Underlying free cash flow reached A$694.9 million, with sector-leading A$2,304 per ounce produced.

• Year-end cash and bullion balance was A$827.7 million, with total liquidity of A$1.0 billion including an undrawn A$175 million debt facility.

Board and executive committee updates

• Welcomed new directors from the Spartan combination, including Simon Lawson as Deputy Chair and Deanna Carpenter as Non-Executive Director.

• Board comprises a mix of executive and non-executive directors, with a strong executive leadership team overseeing operations, finance, development, exploration, legal, and HR.

• Expanded executive team in project management and HR over the past year.