Resolute Mining (RSG) M&A Announcement summary

Deal rationale and strategic fit

• Acquisition of Doropo and ABC projects in Côte d'Ivoire diversifies operations, accelerates growth, and leverages existing expertise in Francophone West Africa, adding a third mining jurisdiction.

• Doropo is a near-term production asset at DFS stage, expected to increase annual gold output above 500,000 ounces and complement existing operations in Mali and Senegal.

• ABC Project offers significant greenfield exploration upside, supporting future resource growth and further diversification.

• The deal aligns with a strategy to become a leading diversified African gold producer with strong growth potential.

• Strategic exit from Guinea operations allows focus on core assets and aligns with AngloGold Ashanti’s interests.

Financial terms and conditions

• Total consideration is US$150 million: US$25 million upfront, US$50 million after 18 months, and US$75 million after 30 months.

• Additional terms include a 2% NSR royalty over the ABC Project and a US$10 million payment upon a feasibility study confirming over 1 million ounces of reserves.

• Transfer of Guinea operations/permits to AngloGold Ashanti is part of the transaction, valued at approximately $25 million.

• Upfront payment funded from existing liquidity; deferred payments expected from operational cash flows.

• If Guinea permit transfer is not completed in 18 months, a $25 million payment is due instead.

Synergies and expected cost savings

• Staged payment structure and deferred consideration align with internal cash flow, minimizing immediate financial strain and supporting project development.

• Doropo's low AISC (US$1,047/oz) is expected to lower group cost base and increase free cash flow once in production.

• Syama and Mako mines provide stable cash flows to support development and integration.

• Anticipated reduction in Group AISC below current levels once Doropo is in production, improving cash margins and free cash flow.