REGIS RESOURCES LIMITED — Interim / Quarterly Report 2021

Mar 1, 2021

JIM BEYER – MD & CEO

2 CAUTIONARY STATEMENT

This presentation contains only a brief overview of Regis Resources Limited and its associated entities ("Regis or RRL") and their respective activities and operations. The contents of this presentation, including matters relating to the geology of Regis' projects, may rely on various assumptions and subjective interpretations which it is not possible to detail in this presentation and which have not been subject to any independent verification.

This presentation contains a number of forward-looking statements. Known and unknown risks and uncertainties, and factors outside of Regis' control, may cause the actual results, performance and achievements of Regis to differ materially from those expressed or implied in this presentation. To the maximum extent permitted by law, Regis does not warrant the accuracy, currency or completeness of the information in this presentation, nor the future performance of Regis, and will not be responsible for any loss or damage arising from the use of the information. The information contained in this presentation is not a substitute for detailed investigation or analysis of any particular issue. Current and potential investors and shareholders should seek independent advice before making any investment decision in regard to Regis or its activities.

The information in this presentation that relates to Exploration Results is extracted from the Australian Securities Exchange (ASX) announcement released 27 Jan 2021 entitled "Quarterly Report to 31 Dec 2020". Unless otherwise stated, Production Targets and associated forecast financial information is extracted from the ASX announcement released 27 Jan 2021 entitled "Quarterly Report to 31 Dec 2020". Financial information relating to the half year ended 31 December 2020 is extracted from the ASX announcement released 25 February 2021 entitled "Half Yearly Financial Results Presentation" and Mineral Resources and Ore Reserves is extracted from the Mineral Resource and Ore Reserve Statement released to the ASX on 24 August 2020 (the Relevant ASX Announcements). In each case, appropriate Competent Person's consents were obtained for the release of that information in the Relevant ASX Announcements and those consents remain in place for subsequent releases by the Company of the same information in the same form and context, until the consent is withdrawn or replaced by a subsequent report and accompanying consent.

The Company confirms that it is not aware of any new information or data that materially affects the information included in the Relevant ASX Announcements and in each case the Production Targets, forecast financial information and estimates of Mineral Resources or Ore Reserves, that all material assumptions and technical parameters underpinning that information in the Relevant ASX Announcements, continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the original ASX announcement.

Past performance and pro-forma financial information given in this document, including in relation to upgrades to resources and reserves, is given for illustrative purposes only and should not be relied upon as (and is not) an indication of future performance, nor of Regis' views on the Company's future financial performance or condition. Investors should note that past performance of Regis, including the historical trading prices of its shares, cannot be relied upon as an indicator of (and provides no guidance as to) Regis' future performance, including the future trading price of its shares. The historical information included in this presentation is, or is based on, information that has previously been released to the market.

As noted above, an investment in Regis shares is subject to known and unknown risks, some of which are beyond the control of Regis. Regis does not guarantee any particular rate of return or the performance of the Company, nor does it guarantee the repayment of capital from Regis or any particular tax treatment.

The distribution of this presentation (including an electronic copy) outside of Australia (including the United States) may be restricted by law and any such restrictions should be observed. Any non-compliance with these restrictions may contravene applicable securities laws.

ASX announcements are available on the Company's website at www.regisresources.com.au

3 CORPORATE OVERVIEW

CAPITAL STRUCTURE

ASX Code	RRL
Issued capital1	512mshares
Market capitalisation2	A$1.6b
Cash and gold on hand3	A$220m
Borrowings3	Nil
Resources4	7.7Moz
Reserves4	3.6Moz

BOARD & MANAGEMENT

James MactierIndependentNon-Executive Chairman	Jim BeyerManaging Director	Steve ScudamoreIndependentNon-Executive Director
Lynda BurnettIndependentNon-Executive Director	Fiona MorganIndependentNon-Executive Director	Russell BarwickIndependentNon-Executive Director

Stuart Gula Chief Operating Officer Jon Latto Chief Financial Officer 12 MONTH SHARE PRICE PERFORMANCE

SHAREHOLDER DISTRIBUTION (% ISSUED SHARES)

• Australian Institutions
• USA Institutions
• UK Institutions
• Rest of Europe Institutions
• Other

1. Appendix 2A 14 Dec 2020

2. Source: ASX.com.au 1 Mar 2021 at A$3.14/sh

3. As at 31 Dec 2020

4. ASX release – Mineral Resource and Ore Reserves Statement – 24 Aug 2020

CONSISTENCY & GROWTH

Transparent Sustainability Reporting

Consistent Dividend Payer

Strong Financial Position

Low Cost Producer

Consistent and Reliable Performance

Internally Driven Value Growth Profile

6 COVID-19 RISK MANAGEMENT

Health & Safety of our workforce of primary concern

• Primary objective to protect the health and wellbeing of Regis employees, contractors, their families and the communities in which we operate
• Health screening for all persons entering the operations
• Extended rosters to reduce travel exposure and relocated employees (now returned to normal roster)
• Social distancing of all workers and restricted high risk facilities
• Continuous, thorough disinfecting of equipment and PPE
• Regular communications with employees and contractors regarding health and safety, mental health and other support services

PEOPLE – THE FOUNDATION OF OUR SUCCESS

Total 950 people – 338 employees & 612 contractors

7

• Renewed focus on safety performance and training
• Pockets of excellence but overall outcomes still inconsistent
• Risk management process upgrade improving hazard identification and controls
• Trending incident hotspots under detailed review
• Safety Leadership training across leadership group focussing on behavioural based safety culture

8

HIGHLIGHTS

Strong Net Profit A$85M Net Profit Margin +21%

EBITDA A$199m up 7% EBITDA Margin 50%

Cash flow from operating activities A$148m

Cash & Bullion A$220m* No debt

Interim Dividend 4c per share Grossed up H1 yield of 1.7%**

Approved Garden Well Underground Project

* Includes bullion on hand valued at spot as at 31 December 2020

** Grossed up for 100% franking. Based on closing share price of $3.31 per share on 24 February 2021

LOOKING FORWARD – THIS YEAR 9

Production rate is planned to lift in the second half of the year

FY21 CURRENT GUIDANCE

• Gold Production 355,000 - 380,000 ounces
• C1 Cash Costs including royalties A$1,030 - 1,090 per ounce
• All in Sustaining Cost A$1,230 - 1,300 per ounce
• Growth Capital A$60 – 70 million
• Exploration A$28 million
• McPhillamys A$22 million

Growth Capital includes open pit and underground pre-production mining costs, site infrastructure and camp expansion costs .

THREE KEY ELEMENTS OF INTERNAL VALUE GROWTH 10

Increasing Business Value

Exploration & Optimisation Life Extension Growth

McPhillamys Gold Project

Step Change Growth

Underground Contribution Incremental Growth

Moolart Well Garden Well Rosemont

THREE KEY ELEMENTS OF INTERNAL VALUE GROWTH

Internal Growth from Underground Operations

Underground Contribution Incremental Growth

Moolart Well Garden Well Rosemont

Potential Incremental Additions at Duketon

• Garden Well Underground approved
• Rosemont Underground Extension
• Gloster Underground

Potential Production Step Change

• McPhillamys Gold Project
• Discovery Ridge

Mine Life Extensions

Ben Hur Open Pit

• Moolart Well Open Pit Expansion
• Ramp up in Regional Exploration

12 INCREMENTAL GROWTH FROM UNDERGROUND

Value created with high grade UG ore displacing lower grade OP ore

GARDEN WELL UG PROJECT APPROVED AND UNDERWAY

FSMaterialMined	Tonnage (Mt)	Au (g/t)	Au (Koz)
ProbableOreReserves	0.90	3.4	98
InferredMineralResources	0.95	3.0	92
TotalinFS	1.85	3.2	190

13 INCREMENTAL GROWTH FROM UNDERGROUND MORE PROJECTS IN THE EVALUATION PIPELINE

14

McPhillamys Gold Project

Step Change Growth

Underground Contribution Incremental Growth

Moolart Well Garden Well Rosemont

Garden Well Underground Rosemont Underground Extension Gloster Underground

Potential Incremental Additions at Duketon

Potential Production Step Change

• McPhillamys Gold Project
• Discovery Ridge

Mine Life Extensions

Ben Hur Open Pit

• Moolart Well Open Pit Expansion
• Ramp up in Regional Exploration

MCPHILLAMYS – APPROVALS APPROACHING FINAL STAGE 15

One of Australia's largest undeveloped open pittable gold resources

1. Refer to Regis ASX announcement released on 8 September 2017 for further details. Results to be updated as part of the DFS.

MINERAL RESOURCE 2.29 Moz Au

ORE RESERVE 2.02 Moz Au

PRODUCTION Up to ~200 Kozpa Au

SATELLITE PROJECT

Discovery Ridge - 390koz Au Resource

PHYSICALS1PRE-FEASIBILITY STUDY
Ore milled (Million tonnes)	60.1
Grade (g/t)	1.05
Recovery(%)	85
LOMgoldproduced (oz)	1,728,000
Avg annual production (oz)	192,000
Stripratio (volume w:o)	4.29

Increasing Business Value

THREE KEY ELEMENTS OF INTERNAL VALUE GROWTH

Internal Growth from Exploration & Project Optimisation

Exploration & Optimisation Life Extension Growth

McPhillamys Gold Project

Step Change Growth

Underground Contribution Incremental Growth

Moolart Well Garden Well Rosemont

Potential Incremental Additions at Duketon

• Garden Well Underground
• Rosemont Underground Extension
• Gloster Underground

Potential Production Step Change

• McPhillamys Gold Project
• Discovery Ridge

Mine Life Extensions

Ben Hur Open Pit

• Moolart Well Open Pit Expansion
• Ramp up in Regional Exploration

17 BEN HUR ACQUISTION ADDS MINE LIFE

18

MOOLART WELL OPTIMISATION

Conversion of low-grade resources into reserves

• Conceptual work begun on the opportunities which may exist to extend the operating life if higher gold prices are used for Ore Reserve
• Significant low-grade, oxide resources could potentially be exploited and extend the life of the operation to more than 5 years
• Options are also being considered to debottleneck and expand the milling capacity to grow production and reduce costs

19 ACCELERATING DISCOVERY AT DUKETON

• Exploration budget increased to A$28m for FY21
• Greenfields exploration portion now A$23.5m versus A$5-7m per year historically
• Accelerated exploration on Ben Hur OP and high-grade UG extensions
• Expanded Greenfields exploration activities on newly acquired tenure will generate new large gold targets (+1Moz)

THREE KEY ELEMENTS OF INTERNAL VALUE GROWTH

Increasing Business Value

Exploration & Optimisation Life Extension Growth

McPhillamys Gold Project

Step Change Growth

Underground Contribution Incremental Growth

Moolart Well Garden Well Rosemont

21 CONSISTENCY & GROWTH

Transparent Sustainability Reporting

Strong Financial Position

Consistent Dividend Payer

Low Cost Producer

Consistent and Reliable Performance

Internally Driven Value Growth Profile

Further information: Jim Beyer | Managing Director & CEO + 61 8 9442 2200

SUMMARY OF FY2021 HALF YEAR

Operations

• Net profit after tax of $84.8 million (FY20 H1: $93.4 million)
• Half year interim dividend for FY2021 of 4 cents per share
• EBITDA of $198.6 million with strong EBITDA margin of 50%
• Half Year end Cash and bullion of $220.0 million*
• Strong operational performance with production of 172,977 ozs

Growth

• Approved development of the Garden Well Underground
• Further increased tenure in the Duketon Greenstone Belt with the acquisition of the valuable Ben Hur resource
• McPhillamys Development Application (DA) under final assessment by NSW Department of Planning, Industry and Environment

INCREMENTAL GROWTH FROM UNDERGROUND

Value created with high grade UG ore displacing lower grade OP ore