Resolute Mining Limited — Annual Report 2017

Oct 26, 2017

We are Resolute 2017 Mine gold. Create value.

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ASX:RSG | www.rml.com.au

Mine gold. FY17 Performance

Gold production 330koz

Total Gold Sold 317koz

All-In Sustaining Cost (AISC) A$1,132/oz Average gold price received A$1,717/oz

years of outperforming guidance 3 for production, AISC and price

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FY15 FY16 FY17
Original Guidance 315koz 315koz 300koz
Production
Actual 329koz 315koz 330koz
(oz)
Achieved ✓ ✓ ✓
Original Guidance A$1,280/oz A$1,280/oz A$1,280/oz
AISC
Actual A$1,094/oz A$1,200/oz A$1,130/oz
(A$/oz)
Achieved ✓ ✓ ✓
Average Spot A$1,457/oz A$1,602/oz A$1,661/oz
Price
Received A$1,467/oz A$1,624/oz A$1,717/oz
(A$/oz)
Achieved ✓ ✓ ✓
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Create value. FY17 Performance

Revenue from gold and silver sales A$541M

Gross profit from operations A$177M

Net Profit after tax A$166M

Cash, bullion and listed investments A$290M

Return on Diluted earnings Net financing Equity per share inflows 49% 18.61c $A136M

Net operating cash inflow Total cash inflow A$186M $A322M

“We remain focused on demonstrating industry leading discipline as we transform our business and deliver new low cost, long life mines which will generate exceptional returns for shareholders.”

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John Welborn Managing Director & CEO

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Long life, large scale assets Syama Gold Mine Mali, West Africa

• Resolute has a successful history of >10 years at Syama • Targeting up to 250kozpa at AISC of US$881/oz

• 12 year mine life • Sublevel Cave (SLC) Underground • Mine of the Future

FY17 Operating Performance

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Total
Ore Mined Ore Milled Head Grade Recovery Production AISC
(t) (t) (g/t) (%) (Gold oz) A$/oz
Syama Sulphide 1,215,153 2,106,371 2.59 69.8 136,000 1,001
Syama Oxide 1,319,596 1,340,097 2.84 83.2 101,830 960
Syama Total 2,534,749 3,446,468 2.68 75.3 237,830 984
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FY18 Production Guidance

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Gold Production AISC AISC
(oz) (A$/oz) (US$/oz)
Syama Sulphide 130,000 1,050 788
Syama Oxide 90,000 1,260 945
Syama Total 220,000 1,140 855
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Bibiani Gold Mine Ghana, West Africa

• Resolute acquired the Bibiani Gold Mine in mid-2014

• Targeting >100kozpa at AISC of below US$858/oz

• Successful Phase 1 drilling program in 2014-2015

• • Initial 5 year mine life • Phase 2 drilling targeting >100kozpa for 10 years

Ravenswood Gold Mine Queensland, Australia

• A successful operating history of ~13 years at Ravenswood

• Targeting up to 140kozpa at AISC of US$880/oz

• 13 year mine life

• • Ravenswood Extension Project (REP) • Bulk-tonnage open pit mining

FY17 Operating Performance

Ore Mined Ore Milled Head Grade Recovery Total AISC Production (t) (t) (g/t) (%) (Gold oz) A$/oz FY17 Actual 2,366,159 1,995,292 1.54 93.1 92,004 1,406

FY18 Production Guidance

Gold Production AISC AISC (oz) (A$/oz) (US$/oz) FY18 Production Guidance 80,000 1,520 1,145 LOM Average Annual Production 123,500 1,166 872

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Syama: a world class opportunity

10Moz and counting, 80km of strike ~ untested below 200m

• Resolute controls an 80km strike length of the 10Moz Syama shear zone

• Majority of exploration to date has been focused on shallow oxide open pit orebodies

• Significant exploration upside below current open pit designs extending high grade shoots at depth

• World class tenure covering an underexplored belt already yielding a number of multi-million ounce orebodies

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Africa: Resolute’s future focus

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Mali
Côte d’Ivoire
Ghana
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Exploring to grow our business. Developing world class gold mines.

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Resolute value chain

Exploration

• Nafolo discovery

• Syama deeper drilling extensions

• Bibiani resource expansion

Mining Engineering

• Resolute pioneered the Sublevel Shrinkage mining method at Mt Wright

• Large-Scale Sublevel Caving at Syama

• Taking the learnings from Mt Wright to Africa

Mineral Processing

• Double refractory sulphide processing success

• Project 85

• Low Carbon Roast (LCR) technology

MineR of the Future

• Utilising technology and automation to create the world’s most advanced underground gold mine at Syama.

Improving Safety Performance

Lower risk environment Personnel tracking Lower operator exposure

Increasing Productivity

Increased tonnes Increased development metres Increased utilisation and operating hours

Reducing operating costs

Improved capital efficiency Lower operating costs (AISC)

Improving Data Capture

Real-time data analysis Improved Cave optimisation 3D Visualisation

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Mine gold. Create value.

Scale

Moz 5.3 Reserves Moz 12.0 Resources

Lon evit g y @ Syama 12yrs @ Ravenswood 13yrs

Track Record

28yrs 8Moz producing & counting

Growth Nafolo Bibiani Tabakaroni

Resolute has a unique dividend policy giving shareholders the opportunity to receive dividend payments in gold.

ASX:RSG | www.rml.com.au

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