RAMELIUS RESOURCES LIMITED — Interim / Quarterly Report 2017

Feb 15, 2017

For Immediate Release 16 February 2017

HALF-YEAR FINANCIAL RESULTS FY2017

HIGHLIGHTS

• 31% increase in gold production to 67,546 ounces (2015: 51,430 ounces)

• 38% increase in revenue to A$106.3M (2015: A$77.1M)

• 22% increase in EBITDA* to A$49.0M (2015: A$40.3M)

• 20% decrease in profit after tax to A$12.9M (2015: A$16.2M)

• Debt-free with 138% increase in net cash & gold of A$95M (2015: A$40M)

Ramelius Resources Limited (ASX: RMS) is pleased to report a profit after tax of A$12.9M for HY2017, capping a strong operational and financial performance by its Western Australian gold operations. This was achieved on sales revenue of A$106.3M.

EBITDA* rose by 22% to A$49.0M reflecting the higher production levels combined with a highly competitive All-in Sustaining Cost (AISC) of A$1,131/oz for the halfyear period. The average realised gold price over the same period was A$1,639/oz. This reflected the benefits of the forward gold sales program, which insulated revenues to a significant degree from volatility in the spot gold price.

During the half-year, Ramelius managed to increase cash and gold to A$95M after A$19.1M was spent on capital development including A$9.0M on open pit prestrips at Mt Magnet, A$4.2M at Water Tank Hill, A$0.5M on site rehabilitation at Kathleen Valley and A$5.4M on exploration. The A$10M debt facility with the CBA remains undrawn.

This places Ramelius in a strong position as it progresses both the Vivien and Water Tank Hill underground mines, along with significant focus on mine life extensions through brownfields exploration in the period leading up to 30 June 2017.

Full details are contained in the Appendix 4D and Half Year Financial Report.

For further information contact: Mark Zeptner Managing Director Ramelius Resources Limited Ph: (08) 9202 1127

Duncan Gordon Executive Director Adelaide Equity Partners Ph: (08) 8232 8800

* EBITDA is Earnings Before Interest, Tax, Depreciation and Amortisation and is calculated from continuing operations. EBITDA is a financial measure which is not prescribed by the International Financial Reporting Standards (IFRS) and represents the profit under IFRS adjusted for specific significant items. EBITDA has not been subject to any specific review procedures by the auditor but has been extracted from the Company’s financial statements.