Resolute Mining Limited — Investor Presentation 2017

Aug 23, 2017

Mine Gold. Create Value.

Full Year Results for the year ending 30 June 2017

Cautionary Statement

This presentation includes certain statements, estimates and projections with respect to the future performances of Resolute. Such statements, estimates and projections reflect various assumptions concerning anticipated results, which assumptions may prove not to be correct. The projections are merely estimates by Resolute, of the anticipated future performance of Resolute's business based on interpretations of existing circumstances, and factual information and certain assumptions of economic results, which may prove to be incorrect. Such projections and estimates are not necessarily indicative of future performance, which may be significantly less favourable than as reflected herein. Accordingly, no representations are made as to the fairness, accuracy, correctness or completeness of the information contained in this presentation including estimates or projections and such statements, estimates and projections should not be relied upon as indicative of future value, or as a guarantee of value of future results. This presentation does not constitute an offer, invitation or recommendation to subscribe for or purchase securities in Resolute Mining Limited.

The information in this report that relates to the Exploration Results, Mineral Resources and Ore Reserves is based on information compiled by Mr Andrew Goode who is a member of the Australasian Institute of Mining and Metallurgy and Mr Bruce Mowat, a member of The Australian Institute of Geoscientists. Mr Andrew Goode and Mr Bruce Mowat both have more than 5 years' experience relevant to the styles of mineralisation and type of deposit under consideration and to the activity which they are undertaking to qualify as a Competent Person, as defined in the 2012 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr Andrew Goode and Mr Bruce Mowat are full time employees of Resolute Mining Limited Group and each hold equity securities in the Company. They have consented to the inclusion of the matters in this report based on their information in the form and context in which it appears. This information was prepared and disclosed under the JORC code 2012 except where otherwise noted. Particular Reserves and Resources remain 2004 JORC compliant and not updated to JORC code 2012 on the basis that information has not materially changed since it was last reported.

In providing this presentation, Resolute has not considered the objectives, financial position or the needs of the recipient. The recipient should obtain and rely on its own financial advice from its tax legal accounting and other professional advisers in respect of the recipients objectives financial position and needs. To the maximum extent permitted by law neither Resolute nor its related corporations ,directors, employees or agents nor any other person accepts liability for any loss arising from the use of this presentation or its contents or otherwise arising in connection with it. You represent and confirm by attending and or retaining this presentation that you accept the above conditions.

FY17

329,834oz Total Gold Production

A$1,132/oz All-In Sustaining Cost (AISC)

317,242oz Total Gold Sold

A$1,717/oz Average Price Received (A$/oz)

Create Value.

FY17

Revenue from gold and silver sales

A$177M Gross profit from operations

Create Value.

FY17

49%

Return on Equity

18.6 c

Diluted earnings per share

Resolute gold dividend

Resolute has an innovative partnership with The Perth Mint to provide shareholders the unique opportunity to receive dividend payments in gold.

2.0 cents per share dividend in cash or gold

Your gold awaits

Financial performance

	2017	2016
Revenue from Goldand Silver Sales	A$541M	A$555M
Gross profit from operations	A$177M	A$155M
Net Profit After Tax	A$166M	A$201M
Return on equity	49%	122%
Diluted earnings per share	18.6 cents	26.1 cents

Operating performance
	2017	2016
Total Gold Sold	317,242oz	340,540oz
Total Gold SoldAverage Price	A$1,717/oz(US$1,295/oz)	A$1,624/oz(US$1,184/oz)
Total annualgold production	329,834oz	315,169oz
All-in-Sustaining Cost	A$1,132/oz(US$853/oz)	A$1,200/oz(US$874/oz)

Balance sheet and cash flow

	2017	2016
Net Assets	A$649M	$338M
Cash, Bullion& Investments	A$290M	A$102M
Net Cash &Bullion/(debt)	A$248M	A$75M
Net OperatingCash Flows	A$186M	A$193M
Dividend	2.0 cents	1.7cents

Three years running…

Track record of strong operating performance

		FY15	FY16	FY17
	Original Guidance	315koz	315koz	300koz
Production	Actual	329koz	315koz	330koz
(oz)	Achieved	✔	✔	✔
AISC(A$/oz)	OriginalGuidance	A$1,280/oz	A$1,280/oz	A$1,280/oz
	Actual	A$1,094/oz	A$1,200/oz	A$1,132/oz
	Achieved	✔	✔	✔
Price(A$/oz)	Average Spot	A$1,457/oz	A$1,602/oz	A$1,661/oz
	Received	A$1,467/oz	A$1,624/oz	A$1,717/oz
	Achieved	✔	✔	✔

Increasing profits from operations

Strong operating performance reflected in financial results

Cashflows to fund growth

A financial turnaround driven by free cashflow generation

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 Expansion Project (REP)

Bulk-tonnage open pit mining

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

Long life, large scale assets

Three assets across Australia and West Africa

Syama Gold Mine Operation Highlights

FY17 Operating Performance

	Ore Mined(t)	Ore Milled(t)	Head Grade(g/t)	Recovery(%)	Total Production(Gold oz)	AISCA$/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

FY18 Production Guidance

	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

Rapid underground development

Automated drilling exceeding expectations

• Automated drilling and longer rounds delivering rapid underground development
• Underground mine development has advanced more than 3km
• First development ore has commenced ramping up to 500kt in current year
• Pre-production underground ore of ~1.3Mt before first sublevel cave production ore in December 2018

Ravenswood Gold Mine Operation Highlights

FY17 Operating Performance

	Ore Mined(t)	Ore Milled(t)	Head Grade(g/t)	Recovery(%)	Total Production(Gold oz)	AISCA$/oz
FY17 Actual	2,366,159	1,995,292	1.54	93.1	92,004	1,406
FY18 Production Guidance		Gold Production(oz)		AISC(A$/oz)		AISC(US$/oz)
FY18 Production Guidance		80,000		1,520		1,145
LOM Average AnnualProduction		123,500		1,166		872

Mt Wright is one of Australia's most successful underground mines, having mined a ~2.5g/t Au orebody at an average cash cost of A$850/oz over the last 5 years, down to a depth of ~900m below surface

18

Project delivery timeline

A pathway to growth across three assets

Exploration for growth Exploring to expand the business, not stay in business Resolute Northern Star Saracen Regis Resources St Barbara Average Mine Life Exploration Budget FY18e (A$M) Exploration Budget vs Average Mine Life Resolute

RSG Opportunity Analyst 12 month targets: 100% 'BUY'

Mine Gold. Create Value.

Scale	Longevity
5.6MozReserves	12yrs@ Syama13yrs@ Ravenswood	P/NAV0.6x
Balance sheet	Track Record	Growth
$290MCash, Bullion & Listed Investments	288yrsMozproducing& counting	NafoloBibianiTabakaroni

Mine Gold. Create Value.