• First ore from Never Never deposit delivered to Mt Magnet processing plant
• Ramelius to close out FY27 gold forward contract hedge book
• Increased exposure to strong gold price expected

Ramelius Resources Limited (ASX: RMS) is pleased to announce that the first ore from the Never Never deposit at Dalgaranga in Western Australia has been hauled and delivered to the Mt Magnet processing plant. This is a key milestone in the company's 5-Year Growth Pathway, as it works to supercharge the Mt Magnet production hub to up to 380,000 ounces in annual production and realize its vision to become a 500,000-ounce producer by FY30. Separately, the company has also elected to close-out its FY27 gold forward contract hedge book and pre-deliver June 2026 Quarter contracts in the March 2026 Quarter. This will provide increased exposure to the strong gold price, which has been averaging around A$7,000/oz for the month of February. The Never Never PFS highlights include an updated Mineral Resource of 7.5Mt at 8.8g/t Au for 2.1Moz, a Maiden Ore Reserve of 7.0Mt at 7.3g/t Au for 1.6Moz, and a Mine Plan of 9.2Mt at 6.5g/t for 1.9Moz, with 1.8Moz of gold production at an AISC of A$1,128/oz over an 11-year mine life.

Ramelius expects revenue to be reduced by A$47.5M (based on a spot gold price of A$7,100/oz) in the March 2026 Quarter, which will be reflected in the income statement in the FY26 financial report.