Resolute Mining Limited — AGM Information 2019

May 19, 2019

Mine Gold. Create Value.

2019 Annual General Meeting CEO Presentation Perth | 20 May 2019

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Cautionary Statement

This presentation contains information about Resolute Mining Limited (Resolute or the Company) and its activities that is current as at the date of this presentation unless otherwise stated. The information in this presentation remains subject to change without notice. This presentation has been prepared by Resolute and no party other than Resolute has authorised or caused the issue, lodgement, submission, despatch or provision of this presentation. The information in this presentation is general in nature and does not purport to be complete. This presentation is not a prospectus, disclosure document or other offering document under Australian law or under the laws of any other jurisdiction. This presentation is provided for information purposes and does not constitute an offer, invitation or recommendation to subscribe for or purchase securities in Resolute in any jurisdiction.

The information contained in this presentation has been prepared in good faith by Resolute, however no guarantee, representation or warranty expressed or implied is or will be made by any person (including Resolute and its affiliates and their directors, officers, employees, associates, advisers and agents) as to the accuracy, reliability, correctness, completeness or adequacy of any statements, estimates, options, conclusions or other information contained in this presentation.

To the maximum extent permitted by law, Resolute and its affiliates and their directors, officers, employees, associates, advisers and agents each expressly disclaims any and all liability, including, without limitation, any liability arising out of fault or negligence, for any loss or damage suffered by any person relating in any way to the use of or reliance on information contained in this presentation including, without limitation:

• from representations or warranties or in relation to the accuracy or completeness of the information contained within this presentation;

• from statements, opinions, forecasts, reports or other matters, express or implied, contained in, arising out of or derived from this presentation; or

• for omissions from this presentation including, without limitation, any financial information, any estimates, forecasts, or projections and any other financial information derived therefrom.

This presentation does not constitute financial product advice, investment, legal, taxation or other advice and is not intended to be used or relied upon as the basis for making an investment decision. This presentation is not a recommendation to acquire Resolute securities and has been prepared without taking into account the investment objectives, taxation situation, financial situation or needs of individuals. Before making any investment decision in connection with any acquisition of Resolute securities, prospective investors should consider the appropriateness of the information having regard to their own objectives, tax situation, financial situation and needs and seek financial, legal and taxation advice appropriate to their jurisdiction.

Past performance information given in this presentation is for illustrative purposes only and should not be relied upon as an indication of future performance. This presentation includes certain forward-looking statements, including statements regarding our intent, belief or current expectations with respect to Resolute’s business and operations, market conditions, results of operations and financial condition, and risk-management practices. Words such as ‘project’, ‘foresee’, ‘plan’, ‘expect’, ‘aim’, ‘intend’, ‘anticipate’, ‘believe’, ‘estimate’, ‘may’, ‘should’, ‘will’ and similar expressions are intended to identify forward-looking statements. Indications of, and guidance on, future earnings and financial position and performance are also forward-looking statements. Forward-looking statements are provided as a general guide only and should not be relied upon as an indication or guarantee of future performance. These statements are based upon a number of estimates and assumptions that, while considered reasonable by Resolute, are inherently subject to significant uncertainties and contingencies, many of which are outside the control of Resolute, involve known and unknown risks and uncertainties that could cause actual events or results to differ materially from estimated or anticipated events or results reflected in such forward looking statements on certain assumptions, which may prove to be incorrect. Actual results, performance, actions and developments of Resolute may differ materially from those expressed or implied by the forward-looking statements in this presentation.

As an Australian company listed on the Australian Securities Exchange (ASX), Resolute is required to report ore reserves and mineral resources in Australia in accordance with the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code). Recipients should note that while Resolute’s mineral resource and ore reserve estimates comply with the JORC Code, they may not comply with relevant guidelines in other countries.

For details of the Mineral Resources and Ore Reserves used in this presentation, please refer to ASX Announcement dated 13 February 2019 titled “Annual Ore Reserve and Mineral Resource Statement as at 31 December 2018” and ASX Announcement dated 29 April 2019 titled “Tabakoroni Resource Update”. The Company is not aware of any new information or data that materially affects the Mineral Resources and Ore Reserves as reported in these ASX Announcements and confirms that all material assumptions and technical parameters underpinning this plan continue to apply and have not materially changed. The form and context in which the Competent Persons’ findings are presented have not been materially modified.

Notes

• US$ numbers quoted are weighted average in US$, at prevailing exchange rates

• All in Sustaining Costs (AISC) per ounce of gold produced are calculated in accordance with World Gold Council guidelines. These measures are included to assist investors to better understand the performance of the ‐

• business. Cash cost per ounce of gold produced and AISC are non International Financial Reporting Standards financial information

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Resolute’s Values

We aspire to build a truly great company to deliver enduring value

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Health & Safety

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• To working safely, all of the time

• To taking pride, in everything we do

• To im rovin the wa we work p g y

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• To the people we work with

• For the quality of our work

TRIFR down to 1.98

• To the ex ectation of our business p

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• To our families

• To the way we treat others

• For learnin from our mistakes g

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• To speak up and share our ideas

• To stop anything we believe is unsafe

• To challen e the thin s we could do better g g

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The Resolute Foundation is the vehicle through which Resolute will deliver future sustainable development initiatives The Resolute Foundation will leverage the strengths, skills and capacities of the Company, our partners, host governments and local people to create sustainable value The Resolute Foundation operates by transforming a non-renewable resource into meaningful and scaleable economic growth, basic services, human development and environmental offsets

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FY18: Results Summary

1 July 2018 to 31 December 2018

Gold Production 129,199oz Cash, Bullion and Investments $117million Revenue $223million Investing Cash Flow $181million

All-In A$1,449/oz Sustaining Cost (US$1,050/oz)

Gold in Circuit 73,835oz Inventory valued at $134 million Gross Profit

from Operations $24million Net Loss After Tax $5million

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Investing in Growth

Syama

• Sublevel caving at the Syama Underground Mine commenced on time and on budget

• Automation control centre commissioned; automated long hole production drilling underway

• New Mali Mining Convention signed with improved fiscal and operating conditions

• Mining Permit extended for a further 10 years

• Open pit mining commenced at Tabakoroni

• Tabakoroni Mineral Resource updated; 1Moz at 5.1g/t including maiden Underground Mineral Resource

• Ravenswood

• Prescribed Project status extended

• Expansion Project review focused on delivering enhanced returns through optimised production profile

• Bibiani

• Operational readiness planning progressing

Group

• Global Mineral Resource inventory increased to 16.8Moz including 5.7Moz in Ore Reserves

• Preparation for listing on London Stock Exchange advanced

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Resolute Portfolio

Syama

Ravenswood

Bibiani

Syama Complex comprises the Syama Underground Mine, a world class, fully automated sublevel cave, and the Tabakoroni Open Pit Mine

Ravenswood is being transitioned from underground mining at the Mt Wright Underground Mine to large scale open pit mining at Buck Reef West / Sarsfield

Bibiani is a potential long life, high margin operation and represents a growth opportunity for Resolute

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Mine Life 14 years Mine Life 10 years
Mineral Resource 4.8 Moz 1.7 Moz ReserveOre Mineral Resource 2.5 Moz
LOM US$ 115 LOM Ave LOM US$ 100 Target
AISC Production AISC Production
823 /oz kozpa 764 /oz kozpa
Nameplate Capacity 5 Mtpa Available Capacity 3 Mtpa
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Mine Life 14 years
Mineral Ore
Resource 8.2 Moz 3.4 Moz Reserve
LOM US$ 300 Target
AISC Production
746 /oz kozpa
Plant Capacity 4 Mtpa
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Investments

A portfolio of strategic investments in highly prospective African-focused gold explorers provides a pipeline of future development opportunities

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16% 11% 19% 26% 27% 27%

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Note: Mineral Resource is inclusive of Ore Reserve. Syama: all statistics are for the Syama Complex except for LOM AISC which is for the Syama Underground Mine. Ravenswood LOM AISC and LOM Ave Production based on Ravenswood Expansion Plan study update published in July 2018. Bibiani Mine Life, LOM AISC and Target Production based on study update published in July 2018. Numbers subject to rounding.

Syama Mali

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Mine Life Resources Production AISC 14 Years 8.2Moz 300koz US$746/oz

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The Innovation: Automation

Autonomous Drilling The most advanced mining automation system Autonomous Loading & Dumping in the world.

Autonomous Truck Navigation

Mine Digitalisation

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Autonomous Haulage

Central Monitoring & Visualisation

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The Impact of Automation Productivity

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Continuous Less
Operation Downtime
Consistent High-speed
Extra Productive
Output Production
Hours
Optimised
Upgradeable To
Less Operational
Tracking &
Headings Multi-machine Control
Reporting
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The Impact of Automation (continued) Economics, Safety and People

LOM AISC Reduced to US$ 746 /oz

Mine Life Extended to 2032 Low Smaller Upfront Fleet $ $ $ Capex

Reduced Smaller Damage Fleet Upskilling Local Workforce

Improved Operator Comfort

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Technology Driven Productivity Gains

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DAY SHIFT NIGHT SHIFT
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AUTOMATED MINE 15% - 20% Gain

• Remotely Operated Machinery

• • Autonomous Drilling

• Autonomous Loading

• Autonomous Haulage

DIGITAL MINE 10% - 15% Gain

• Tracking and Visualisation

• • Task Scheduling and Optimisation

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MANUAL MINE
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Note: Productivity gains referenced for the Automated Mine and Digital Mine are relative to the Manual Mine and are driven by increased operating time and improved fleet efficiency and are representative of gains achieved in other mines which have implemented similar solutions.

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Tabakoroni Open Pit Mine Record production of 71,186oz at an AISC of US$525/oz in the March 2019 Quarter

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Namakan Pit at Tabakoroni – March 2019

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Tabakoroni Exploration: High Grade Intersections Potential standalone underground operation supports mine life extension Mineral Resource of 1.03Moz at 5.1g/t Au

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Ravenswood

Australia

Mine Life Resources 14 Years 4.8Moz

Production AISC 115koz US$823/oz

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Bibiani

Ghana

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Mine Life Resources Production AISC 10 Years 2.5Moz 100koz US$764/oz

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Coming Soon to the Main Board

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Corporate Summary(ASX:RSG) Capitalisation	Corporate Summary(ASX:RSG) Capitalisation	Corporate Summary(ASX:RSG) Capitalisation
	A$	US$
Share Price	$1.15	$0.79
Shares on Issue	758m
Market Capitalisation	$872m	$598m
Cash, Bullion, Investments	$86m	$60m
Borrowings	$154m	$108m
Enterprise Value	$940m	$646m

Price Performance and Trading

YTD Daily Trading Averages : Volume: 7.6m / Value: A$8.7m

Dividend Policy

FY18 Dividend

2% of annual gold revenue offered in gold or cash

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2.0 cents per share 3.3% of revenue

Note: Market data as at 17 May 2019. Cash, bullion, investments, borrowings as at 31 March 2019. Borrowings comprise revolving credit facility drawn to US$100m and the net balance of Resolute’s Bank of Mali unsecured overdraft facility and in-country receivables.

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Mine Gold. Create Value.

John Welborn Managing Director & CEO

Jeremy Meynert General Manager – Business Development & Investor Relations

Level 2, Australia Place 15-17 William St Perth, Western Australia 6000 T: +61 8 9261 6100 F: +61 8 9322 7597 E: contact@rml.com.au