FY24 Financial Results and FY25 Outlook

• Completed transformational merger with Silver Lake, creating a diversified mid-tier gold miner
• Strengthened balance sheet with $453.7 million in cash and bullion at 30 June 2024
• Group gold sales of 223,498 ounces, with a 29% y-o-y increase from King of the Hills

Red 5 Limited (ASX: RED) reported its financial results for the year ended 30 June 2024, which incorporated the operations of Silver Lake Resources following the completion of their transformational merger on 19 June 2024. The company's balance sheet was significantly strengthened, with cash and bullion of $453.7 million at 30 June 2024, further bolstered by the repayment of the outstanding $92.9 million project finance facility and the sale of treasury shares acquired through the merger for $136.8 million. Group gold sales for the year increased by 35% to 223,498 ounces, driven by a 29% y-o-y increase in sales from the King of the Hills operation. Underlying operational EBITDA increased by 103% to $225.5 million, with the King of the Hills operation delivering a 104% increase in EBITDA and a 48% improvement in EBITDA margin. The company reported an underlying profit after tax of $48.5 million, after adjusting for one-off costs associated with the merger. For FY25, Red 5 provided guidance for consolidated gold sales of 390,000 to 430,000 ounces at an AISC of A$2,250 to A$2,450 per ounce, reflecting the full-year contribution of the Silver Lake operations and demonstrating the immediate creation of an intermediate gold producer of relevant scale.

FY25 consolidated gold sales guidance of 390,000 to 430,000 ounces at an AISC of A$2,250 to A$2,450 per ounce.

Red 5 expects to continue its strong operational performance in FY25, with the full-year contribution of the Silver Lake operations and ongoing optimization initiatives at the King of the Hills and Deflector mines.