RAMELIUS RESOURCES LIMITED — Annual Report 2021

Aug 25, 2021

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----- Start of picture text ----- 26 August 2021ISSUED CAPITALOrdinary Shares: 814MDIRECTORSNON-EXECUTIVE CHAIR:Bob VassieMANAGING DIRECTOR:Mark ZeptnerNON-EXECUTIVE DIRECTORS:Michael BohmDavid SouthamNatalia StreltsovaCOMPANY SECRETARY:Richard Joneswww.rameliusresources.com.auramelius@rameliusresources.com.auRAMELIUS RESOURCES LIMITEDRegistered OfficeLevel 1, 130 Royal StreetEast Perth, WA 6004Tel +61 8 9202 1127PO Box 6070East Perth, WA 6892----- End of picture text -----

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26 August 2021

RAMELIUS DELIVERS RECORD NPAT OF A$126.8M DECLARES 2.5cps DIVIDEND

FY21 HIGHLIGHTS

• Record gold production of 272,109 ounces (FY20: 230,426oz), up 18%

• AISC[*] of A$1,317/oz (FY20: A$1,164/oz), up 13%

• Revenue from ordinary activities of A$634.3M (FY20: A$460.6M), up 38%

• EBITDA[**] of A$341.0M (FY20: A$256.0M), up 33%

• Net profit before tax of A$174.7M (FY20: A$149.5M), up 17%

• Net profit after tax of A$126.8M (FY20: A$113.4M), up 12%

• Net cash and bullion of A$234.0M (FY20: A$161.1M), up 45%

• FY22 Guidance 260,000 – 300,000oz at an AISC of A$1,425 – $1,525/oz[^]

• Fully franked dividend of 2.5 cents per share

Ramelius Resources Limited ( ASX: RMS ) (“ Ramelius ”, “ the Company ”) is pleased to report yet another record financial and operational performance for the Financial Year ending 30 June 2021. Additional information is provided in the Appendix 4E and Financial Statements released today.

The Company reported a Statutory Net Profit after Tax (“ NPAT ”) of A$126.8M and has declared a fully franked dividend of 2.5 cents per share, based on the Company’s established dividend policy.

The underlying NPAT is A$126.4M, after taking into account the Company’s one-off A$3.9M tax loss benefit and exploration asset write-downs of A$3.5M (net of tax).

Ramelius’ extremely strong full year results, as illustrated in the table below, were primarily due to the record gold production as a result of higher grades and higher mill throughput, along with an increase in the realised gold price.

Key Information	FY21A$’000	FY20A$’000Variance
Revenue from ordinary activitiesEBITDA**EBITDA** MarginNet Profit after TaxUnderlying NPATBasic Earnings Per Share	634,283340,97553.8%126,778126,40215.6 cps	460,574+ 38 %256,025+ 33 %55.6%- 3 %113,415+ 12 %107,765+ 17 %16.4 cps- 5 %

Ramelius Managing Director, Mark Zeptner, today said:

“Once again Ramelius has posted a fantastic result for the year with record gold production and a record net profit after tax which further builds upon last year’s results. This is a testament to the growth strategy pursued by the Company and the continual focus on delivering on our plans.

FY22 is shaping up to be another record year, based on the mid-point of our production guidance, and with the introduction of ore from the Tampia Gold Mine and development of the very high grade Penny underground, the next few years are looking very solid.

Ramelius is proud to also announce a 25% increase in the dividend to 2.5c per share fully franked. This will be the third consecutive dividend for Ramelius shareholders with a total of $43.1M being returned over the last three years.”

Dividend Information

The key dates for participation in the dividend are as follows:

• Ex-date for dividend entitlement 1 September 2021

• Record date 2 September 2021

• Payment date 4 October 2021

24 August 2020 FY2021 Financial Results Conference Call

The Company wishes to advise that Mark Zeptner (Managing Director) and Tim Manners (Chief Financial Officer) will be holding an investor conference call to discuss the financial results at 12:00pm AEST (10:00am AWST) on Thursday, 26 ISSUED CAPITAL August 2021 .

Ordinary Shares: 806M To listen in live, please click on the link below and register your details:

https://s1.c-conf.com/diamondpass/10016013-au3het.html

*All-in Sustaining Cost (AISC) includes cash costs, plus royalty expenses, sustaining capital, general corporate and administration expenses on a per DIRECTORS ounce sold basis.

N ON** EBITDA is earnings before interest, tax, depreciation, and amortisation and is calculated from continuing operations. EBITDA is a financial measure -EXECUTIVE CHAIRMAN: Kevin Lines which is not prescribed by the International Financial Reporting Standards (IFRS) and represents the profit under IFRS adjusted for specific significant M items. EBITDA has not been subject to any specific review procedures by the auditor but has been extracted from the company’s financial statements. ANAGING DIRECTOR: Mark Zeptner N ^ Refer ASX Announcement “June 2021 Quarterly Activities Report” released on 29 July 2021 ON-EXECUTIVE DIRECTORS:

NatalTh s ASX announcement was authorized for release by the Board of Directors. For further information contact: i a Streltsova

COMPANY SECRETARY: Richard Jones Management: Mark Zeptner Tim Manners Managing Director Chief Financial Officer Ramelius Resources Limited Ramelius Resources Limited www.rameliusresources.com.au Ph: +61 8 9202 1127 Ph: +61 8 9202 1127

FORWARD LOOKING STATEMENTS

RAMELIUS RESOURCES LIMITED This report contains forward looking statements. The forward looking statements are based on current expectations, estimates, Registered Office assumptions, forecasts and projections and the industry in which it operates as well as other factors that management believes to be Level 1, 130 Royal Street relevant and reasonable in the circumstances at the date such statements are made, but which may prove to be incorrect. The forward East Perth, WA 6004 looking statements relate to future matters and are subject to various inherent risks and uncertainties. Many known and unknown Tel +61 8 9202 1127 factors could cause actual events or results to differ materially from the estimated or anticipated events or results expressed or implied PO Box 6070 by any forward looking statements. Such factors include, among others, changes in market conditions, future prices of gold and East Perth, WA 6892 exchange rate movements, the actual results of production, development and/or exploration activities, variations in grade or recovery rates, plant and/or equipment failure and the possibility of cost overruns. Neither Ramelius, its related bodies corporate nor any of their directors, officers, employees, agents or contractors makes any representation or warranty (either express or implied) as to the accuracy, correctness, completeness, adequacy, reliability or likelihood of fulfilment of any forward looking statement, or any events or results expressed or implied in any forward looking statement, except to the extent required by law.