Ramelius Resources (RMS) Investor presentation summary

Strategic growth and production outlook

• Targeting over 500,000 ounces of annual gold production by FY30, with a fully funded pipeline and 170% production growth planned from FY26 to FY30.

• Five-year plan projects group production to reach 525koz p.a. by FY30, with an average AISC of A$1,975/oz and over A$1 billion free cash flow annually from FY30 at A$4,500/oz gold price.

• Major growth projects include the Never Never underground mine, Dalgaranga, and Rebecca-Roe, with significant capital investment sequenced to support expansion.

• Mt Magnet hub to become a top 5 Australian gold production asset, with mill upgrades to 5Mtpa and integration of high-grade Dalgaranga ore.

• Rebecca-Roe DFS confirms a 9-year mine life, 1.1Moz total reserves, and robust economics with a post-tax NPV of A$692M and 34% IRR.

Financial performance and capital management

• December 2025 quarter delivered 45,610oz gold at AISC of A$1,977/oz, generating A$149.7M operating cash flow and A$54.7M free cash flow after growth capital.

• Cash and gold holdings at A$694M as of December 2025, with no drawn debt and a strong balance sheet maintained.

• Announced A$250M share buyback and increased minimum dividend to 2cps for FY26 & FY27; FY25 final dividend of A$95.7M paid.

• Five-year outlook anticipates significant free cash flow growth, fully funding major capital projects and supporting ongoing shareholder returns.

• Dividend history shows a 60% increase over seven years, with a 29% payout ratio and 3.2% yield for FY25.

Operational highlights and project execution

• Never Never underground mine achieved maiden ore reserve of 7Mt @ 7.3g/t for 1.6Moz; production to commence H2 FY26.

• Mt Magnet hub produced 45,610oz in Q2 FY26, with open pit and underground operations across multiple deposits.

• Dalgaranga mine development underway, with high-grade ore to be processed at Mt Magnet mill, increasing throughput.

• Rebecca-Roe project to start mining in December 2027, with production from December 2028 and average annual output of 140koz at AISC of A$2,625/oz.

• Mt Magnet powered by a hybrid energy solution, including solar, battery, and wind, targeting up to 46MW low-emission capacity.