Half Year Financial Results and Accounts

Resolute Mining Limited

20 August 2026

 

20 August 2026

Appendix 4D

Half Year Report for the six months ended 30 June 2026

Reporting Period

The reporting period is for the half year ended 30 June 2026 with the corresponding reporting period being for the six months ended 30 June 2025.

Results for Announcement to the Market

Dividend Information

Net Tangible Assets

This half year report should be read in conjunction with the most recent annual financial report for the year ended 31 December 2025. All dollar figures are United States dollars ($) currency unless otherwise stated.

   Resolute Mining Limited ABN 39 097 088 689

Level 17, 2 Esplanade Perth, Western Australia 6000     T [phone] E [e-mail]

Corporate Directory

Table of Contents

Directors' Report

Your directors present their half year report on the consolidated entity (referred to hereafter as the "Group" or "Resolute") consisting of Resolute Mining Limited and the entities it controlled at the end of or during the half year ended 30 June 2026 (H1 2026).

Corporate Information

Resolute Mining Limited ("Resolute" or "the Company") is a company limited by shares that is incorporated and domiciled in Australia.

Directors

The names of the Company's directors in office during the entire half year period and until the date of this report are set out below. Directors were in office for this entire period unless otherwise stated.

Chris Eger Managing Director & CEO Andrew Wray Non-Executive Chairman Simon Jackson Non-Executive Director Sabina Shugg Non-Executive Director Keith Marshall Non-Executive Director Adrienne Parker Non-Executive Director

Adrian Reynolds Non-Executive Director (retired 20 May 2026) Gina Jardine Non-Executive Director (appointed 20 May 2026)

Company Secretaries

Thomas May Sam Wright

Kim Clear (appointed 20 July 2026)

Operational Highlights

Key highlights for half year ended 30 June 2026 include:

▪  Production (gold poured) for H1 of 104,795 ounces (oz) compared to 151,460 oz in H1 2025.

▪  All-In Sustaining Cost (AISC) of $2,327 when compared to H1 2025 ($1,688) due to lower production at Syama and higher royalty payments from elevated average realised gold prices.

▪  H1 gold sales of 123,951 oz at an average realised gold price of $4,712 compared to 145,120 oz at an average realised gold price of $3,076 in H1 2025.

▪  Operating cash flow of $277.6 million (30 June 2025: $111.3 million).

▪  Net cash and bullion1 of $317.4 million (30 June 2025: $109.9 million).

▪  Ravenswood sale proceeds of $53.9 million received from the repayment of the Vendor Financing Promissory Note ("VFPN").

1Net cash and bullion is made up of cash of $173.7 million, fixed term deposits of $112.4 million, plus bullion of $47.3 million at fair value (11,743oz at $4,026.05/oz) less gross debt of $16.0 million.

Financial Overview
Profit and Loss Analysis	H1 2026	H1 2025
$m	Group	Group
Revenue	584.7	447.5
Cost of production	(188.8)	(175.0)
Royalties	(52.3)	(31.2)
Administration and other corporate expenses	(15.4)	(10.3)
Exploration expense	(4.3)	(2.3)
EBITDA	323.9	228.8
Depreciation and amortisation	(53.5)	(66.3)
Net interest and finance costs	0.8	(3.2)
Inventories net realisable value movements and obsolete consumables	(8.9)	(5.3)
Fair value movements and treasury transactions	(26.1)	3.4
Other	1.3	(33.3)
Net profit before tax	237.5	124.1
Income tax expense	(74.9)	(53.1)
Net profit after tax	162.6	71.0

Financial Performance

Revenue for H1 2026 was $584.7 million, from gold sales of 123,951 oz at an average realised price of $4,712/oz. EBITDA was $323.9 million which is a 41.5% improvement on the comparative period driven by higher gold prices realised. Resolute reported a net profit after tax of $162.6 million.

Financial Position

As at 30 June 2026, Resolute had cash of $173.7 million, fixed term deposits of $112.4 million across multiple jurisdictions which have a maturity period of greater than three months along with bullion with a market value of

$47.3 million. The Group's net cash was $317.4 million at 30 June 2026 which is an increase of 188.9% from H1 2025's net cash position of $109.9 million. Total bank overdraft as at 30 June 2026 were $7.1 million (31 December 2025:

$46.2 million) which are from in-country overdraft facilities in Mali and Senegal. Total borrowings as at 30 June 2026 were $8.9 million (31 December 2025: $11.7 million) consisting of equipment financing and IT software lease agreements.

Significant Events After Balance Date

Since the end of the period and to the date of this report, no matter or circumstance has arisen that has significantly affected, or may significantly affect, the operations of the Group, the results of operation or the state of affairs of the consolidated group in subsequent periods.

Auditor's Independence

Refer to page 7 for a copy of the Auditor's Independence Declaration to the Directors of Resolute Mining Limited.

Rounding

Resolute is a company of the kind specified in Australian Securities and Investments Commission Corporations (Rounding in Financial Directors' Reports) Instrument 2016/191. In accordance with that Instrument, amounts in the financial report and the Directors' Report are rounded to the nearest million dollars unless specifically stated to be otherwise.

Signed in accordance with a resolution of the directors.

Chris Eger

Managing Director & CEO 20 August 2026

Auditor's independence declaration to the directors of Resolute Mining Limited

As lead auditor for the review of the half-year financial report of Resolute Mining Limited for the half-year ended 30 June 2026, I declare to the best of my knowledge and belief, there have been:

a.     No contraventions of the auditor independence requirements of the Corporations Act 2001 in relation to the review;

b.    No contraventions of any applicable code of professional conduct in relation to the review; and

c.     No non-audit services provided that contravene any applicable code of professional conduct in relation to the review.

This declaration is in respect of Resolute Mining Limited and the entities it controlled during the financial period.

Philip Teale Partner

20 August 2026

      A member firm of Ernst & Young Global Limited

Liability limited by a scheme approved under Professional Standards Legislation

Consolidated Statement of Comprehensive Income

		For the half year ended 30 June	For the half year ended 30 June
		2026	2025
	Note	$m	$m
Revenue from gold and silver sales	3	584.7	447.5
Costs of production	3	(188.8)	(175.0)
Gross profit		395.9	272.5
Depreciation and amortisation	3	(53.5)	(66.3)
Royalties	3	(52.3)	(31.2)
Gross profit from operations		290.1	175.0
Interest Income	3	7.6	2.6
Other (expense)/income	3	2.4	(7.9)
Exploration expense	3	(4.3)	(2.3)
Administration and other corporate expenses	3	(15.4)	(10.3)
Share based payment expense		(1.1)	(0.6)
Fair value movements and treasury transactions	3	(26.1)	3.4
Inventories net realisable value movements and obsolete consumables	3	(8.9)	(5.3)
Finance costs	3	(6.8)	(5.8)
Indirect tax expense	3	-	(24.7)
Profit before tax		237.5	124.1
Income tax expense	5	(74.9)	(53.1)
Profit for the period		162.6	71.0
Profit attributable to:
Members of the parent		128.2	58.8
Non-controlling interest		34.4	12.2
Profit for the period		162.6	71.0

(continued)

		For the half year ended 30 June	For the half year ended 30 June
		2026	2025
	Note	$m	$m
Profit for the period (brought forward)		162.6	71.0
Other comprehensive income/(loss)
Items that may be reclassified subsequently to profit or loss
Exchange differences on translation of foreign operations: - Members of the parent		(23.9)	32.3
- Non-controlling interest		1.1	3.1
Other comprehensive loss for the period, net of tax		(22.8)	35.4
Total comprehensive income for the period		139.8	106.4
Total comprehensive income attributable to:
Members of the parent		104.3	91.1
Non-controlling interest		35.5	15.3
Total comprehensive income for the period		139.8	106.4

Earnings per share for net profit attributable for operations to the ordinary equity holders of the parent: 

                                                                                                                                                  $                           $

Basic earnings per share                                                                                       5.94 cents             2.89 cents

Diluted earnings per share                                                                                    5.94 cents             2.89 cents

Consolidated Statement of Financial Position

		30 June 2026	31 December 2025
	Note	$m	$m
Current assets
Cash		173.7	62.6
Fixed term deposits		112.4	68.1
Other financial assets - restricted cash		3.5	1.9
Receivables	6	5.9	11.0
Inventories	7	144.4	150.7
Prepayments and other assets		25.9	14.4
Loncor proceeds		-	31.5
Total current assets		465.8	340.2
Non-current assets
Receivables	6	68.8	118.2
Inventories	7	39.2	50.0
Exploration assets	8	53.0	197.3
Development assets	9	385.9	216.9
Property, plant and equipment	9	263.6	251.6
Right of use asset		5.7	4.5
Total non-current assets		816.2	838.5
Total assets		1,282.0	1,178.7
Current liabilities
Payables		144.9	89.9
Financial liabilities	10	80.3	124.9
Provisions	11	18.6	31.8
Current tax liabilities	5	44.9	72.3
Lease liabilities		0.8	0.5
Total current liabilities		289.5	319.4
Non-current liabilities
Financial liabilities	10	77.0	69.7
Provisions	11	95.9	99.7
Lease liabilities		7.3	6.4
Total non-current liabilities		180.2	175.8
Total liabilities		469.7	495.2
Net assets		812.3	683.5

(continued)

		30 June 2026	31 December 2025
	Note	$m	$m
Equity attributable to equity holders of the parent
Contributed equity		882.7	882.7
Reserves		(25.4)	(2.6)
Accumulated loss		(23.1)	(151.3)
Total equity attributable to equity holders of the parent		834.2	728.8
Non-controlling interest		(21.9)	(45.3)
Total equity		812.3	683.5

Consolidated Statement of Changes in Equity

Consolidated Cash Flow Statement
	30 June 2026	30 June 2025
	$m	$m
Cash flows from operating activities
Receipts from customers	584.7	447.5
Payments to suppliers, employees and others	(215.0)	(259.4)
Exploration expenditure	(1.2)	(1.0)
Interest paid	(1.3)	(6.6)
Interest received	2.6	2.6
Indirect tax paid	(44.5)	(26.7)
Income tax paid	(47.7)	(45.1)
Cash flows from operating activities	277.6	111.3
Cash flows used in investing activities
Payments for property, plant & equipment	(41.5)	(31.1)
Payments for development activities	(41.0)	(15.3)
Payments for evaluation activities	(14.5)	(11.4)
Doropo Acquisition	-	(27.4)
Investments in term deposits	(109.1)	-
Investment income from term deposits	4.3	-
Other investing activities	(0.3)	(0.4)
Loncor proceeds	31.9	-
Ravenswood proceeds	53.9	-
Cash flows used in investing activities	(116.3)	(85.6)
Cash flows used in financing activities
Equipment financing	(2.2)	-
Dividend paid to non-controlling interest	(10.6)	-
Repayment of borrowings	(39.1)	-
Repayment of principal portion of lease liability	(0.4)	(1.1)
Cash flows used in financing activities	(52.3)	(1.1)
Increase in cash and cash equivalents	109.0	24.6
Cash and cash equivalents at the beginning of the period	62.6	69.3
Exchange rate adjustment	2.1	2.3
Cash and cash equivalents at the end of the period	173.7	96.2

Notes to the Financial Statements

 

Note 1: Corporate Information

The financial report of Resolute Mining Limited and its controlled entities for the half year ended 30 June 2026 was authorised for issue in accordance with a resolution of directors for release on 20 August 2026.

Resolute (the parent) is a for profit company limited by shares incorporated and domiciled in Australia whose shares are publicly traded on the Australian Securities Exchange and the London Stock Exchange.

The principal activities of entities within the consolidated entity during the half year were:

►      gold mining; and,

►      prospecting and exploration for minerals.

There has been no significant change in the nature of those activities during the half year ended 30 June 2026.

Where appropriate in the financial report, comparative information has been reclassified to align to changes in presentation in the current period to reflect more reliable and relevant information.

Note 2: Basis of Preparation and Summary of Significant Accounting Practices

a) Basis of Preparation

This interim financial report for the half year ended 30 June 2026 has been prepared in accordance with AASB 134 Interim Financial Reporting and the Corporations Act 2001.

The half year financial report does not include all notes of the type normally included within the annual financial report and therefore cannot be expected to provide as full an understanding of the financial performance, financial position and financing and investing activities of the Group as the full financial report.

It is recommended that the half year financial report be read in conjunction with the Annual Report for the year ended 31 December 2025 and considered together with any public announcements made by Resolute Mining Limited during the half year ended 30 June 2026 in accordance with the continuous disclosure obligations of the Australian Securities Exchange listing rules and London Stock Exchange rules. The consolidated financial report is presented in United States dollars ("$") rounded to the nearest million dollars, unless otherwise stated.

The accounting policies and methods of computation are the same as those adopted in the most recent annual financial report. New accounting standards issued but not yet effective have not been early adopted.

Certain prior year amounts have been reclassified to conform to the current year presentation. These reclassifications have no impact on previously reported profit, total assets, total liabilities or net cash flows.

Note 3 a: Segment revenue and expenses

For the half year ended 30 June 2026	Syama (Mali)	Mako (Senegal)	Corp/ Other (b)	Total
	$m	$m	$m	$m
Revenue from gold and silver sales (a)	417.5	167.2	-	584.7
Costs of production	(138.9)	(49.9)	-	(188.8)
Segment gross profit	278.6	117.3	-	395.9
Depreciation and amortisation	(42.2)	(11.3)	-	(53.5)
Royalties	(43.6)	(8.4)	(0.3)	(52.3)
Segment gross profit from operations	192.8	97.6	(0.3)	290.1
Interest Income	1.0	4.6	2.0	7.6
Other (expense)/income	4.1	(0.4)	(1.3)	2.4
Exploration expense	-	(3.8)	(0.5)	(4.3)
Administration and other corporate expenses	-	-	(15.4)	(15.4)
Share based payment expense	-	-	(1.1)	(1.1)
Fair value movements and treasury transactions	(9.8)	(7.9)	(8.4)	(26.1)
Inventories net realisable value movements and obsolete consumables	(9.6)	0.7	-	(8.9)
Finance costs	(1.3)	(0.9)	(4.6)	(6.8)
Indirect tax expense	-	-	-	-
Profit/(loss) before tax from operations	177.2	89.9	(29.6)	237.5
Income tax expense	(38.4)	(36.5)	-	(74.9)
Profit/(loss) for the period	138.8	53.4	(29.6)	162.6

(a)  Revenue from external sales for each reportable segment is derived from several customers.

(b)  This information does not represent an operating segment as defined by AASB 8 'Operating Segments' and forms part of the reconciliation of the results and positions of the operating segments to the financial statements.

Note 3 a: Segment revenue and expenses (continued)

Sy For the half year ended 30 June 2025	ama (Mali)	Mako        Corp/Other (Senegal)                     (b)		Total
	$m	$m	$m	$m
Revenue from gold and silver sales (a)	260.4	187.1	-	447.5
Costs of production	(120.6)	(54.4)	-	(175.0)
Segment gross profit	139.8	132.7	-	272.5
Depreciation and amortisation	(28.7)	(37.3)	(0.3)	(66.3)
Royalties	(21.5)	(9.4)	(0.3)	(31.2)
Segment gross profit from operations	89.6	86.0	(0.6)	175.0
Interest Income	-	-	2.6	2.6
Other expense	(5.6)	(0.3)	(2.0)	(7.9)
Exploration expense	-	(1.5)	(0.8)	(2.3)
Administration and other corporate expenses	-	-	(10.3)	(10.3)
Share based payment expense	-	-	(0.6)	(0.6)
Fair value movements and treasury transactions	(8.5)	3.6	8.3	3.4
Inventories net realisable value movements and obsolete consumables	(5.2)	(0.1)	-	(5.3)
Finance costs	(3.1)	(2.7)	-	(5.8)
Indirect tax expense	(23.6)	(1.0)	(0.1)	(24.7)
Profit/(loss) before tax from operations	43.6	84.0	(3.5)	124.1
Income tax expense	(5.0)	(48.1)	-	(53.1)
Profit/(loss) for the period	38.6	35.9	(3.5)	71.0

(a)  Revenue from external sales for each reportable segment is derived from several customers.

(b)  This information does not represent an operating segment as defined by AASB 8 'Operating Segments' and forms part of the reconciliation of the results and positions of the operating segments to the financial statements.

Note 3 b: Segment assets and liabilities1

1This information does not represent an operating segment as defined by AASB 8 'Operating Segments' and forms part of the reconciliation of the results and positions of the operating segments to the financial statements.

2The net liability position in the corporate entities is due to the deferred consideration payments due on the acquisition of Doropo.

Note 3 b: Segment assets and liabilities (continued)

Note 4: Dividend

There were no interim dividends paid or declared by Resolute Mining Limited during the half year ended up to 30 June 2026 and up to the date of this report (half year ended 30 June 2025: $nil). In June 2026, a Senegalese subsidiary of the Group (Petowal Mining Company S.A.) declared a dividend of $121.3 million of which $12.1 million was declared to the Government of Senegal as the minority shareholder.

As outlined in the significant changes in the state of affairs within the Director's Report in the 31 December 2025 annual report, Resolute continues to work with the Malian Government to implement the requirements of the 2023 mining code, including the non-diluting priority dividend rights. As part of this process the parties are finalising the articles of incorporation to reflect and give effect to the State's priority dividend entitlement.

Note 5: Taxes

At 30 June 2026, the Group recognised an income tax expense of $74.9 million (30 June 2025: tax expense of $53.1 million). The increase in the income tax expense is primarily due to an increase in profits.

Note 6: Receivables

Included in the total receivables balance of $74.7 million (31 December 2025: $129.2) are indirect tax receivables of

$68.8 million as of 30 June 2026 (31 December 2025: $76.6 million). This primarily relates to indirect taxes owing to the Group from the Republic of Mali and Senegal. In June 2026, Ravenswood sale proceeds of $53.9 million were received from the repayment of the VFPN, hence the decrease in non-current assets.

Note 7: Inventories

	30 June 2026	31 December 2025
	$m	$m
Doré bars	23.9	55.5
Gold in circuit	44.4	44.3
Ore stockpiles	52.3	47.3
Consumables, spare parts, and supplies	63.0	53.6
Total inventories	183.6	200.7
Less: Non-current metal inventories	(39.2)	(50.0)
Current portion of inventories	144.4	150.7

Note 8: Exploration assets

At 30 June 2026, the Group's exploration assets amount to $53.0 million (31 December 2025: $197.3 million). During the six-month period to 30 June 2026, additions were primarily due to continued drilling at ABC and La Debo along with continued progress with the Mako Life extension project.

On 5 February 2026, the Council of Ministers formally announced the granting of the mining permit for the Doropo Gold Project in Côte d'Ivoire. The permit is valid for an initial term of 14 years, with the option to extend. Receipt of the Doropo mining permit represents a significant step toward Resolute's ambition to become a leading multi-asset gold producer in West Africa. This milestone supports the Company's strategy to increase annual gold production to more than 500koz by the end of 2028 and reinforces its commitment to disciplined growth and long-term shareholder value.

On 12 March 2026, the Company formally approved the final investment decision (FID) for the Doropo Gold Project, marking a transformational step towards construction and production. The approval of the FID subsequently triggered an asset reclass from exploration to development.

On 31 March 2026, a strategic Memorandum of Understanding ("MoU") was signed with Nimba Mining Company regarding the potential co-development of gold projects in Guinea.

Note 9: Development assets and property, plant and equipment

At 30 June 2026, the Group's development assets amount to $385.9 million (31 December 2025: $216.9 million). During the six-month period to 30 June 2026, additions to mine development assets totalled $41.0 million, primarily relating to construction activities at Doropo from the point of the final investment decision. In addition, $159.0 million of previously capitalised exploration and evaluation costs were reclassified to mine development assets, as described in Note 8 above. Property, plant and equipment increased to $263.6 million (31 December 2025: $251.6 million).

At 30 June 2026, the Group had outstanding contractual commitments of $246.7 million relating to construction activities at Doropo, which form part of the approved project budget. These costs largely relate to EPCM, Civil and Infrastructure costs as well as the procurement of long-lead items.

Note 10: Financial liabilities

	30 June 2026	31 December 2025
	$m	$m
Financial liabilities (current)
Bank overdraft	7.1	46.2
Deferred consideration 1	72.2	75.2
Borrowings	1.0	3.5
Total Financial liabilities (current)	80.3	124.9
Financial liabilities (non-current) Deferred consideration 1	69.1	61.5
Borrowings	7.9	8.2
Total Financial liabilities (non-current)	77.0	69.7
Total Financial liabilities	157.3	194.6

1 Deferred consideration relates to the acquisition of the Doropo and ABC projects. The present value of the deferred consideration and contingent consideration amounts have been determined using a discount rate representing the Group's cost of debt.

Note 11: Provisions

	30 June 2026 $m	31 December 2025 $m
Current
Site restoration	7.1	2.2
Employee entitlements	7.5	8.6
Dividend payable	0.3	-
Other provisions	3.7	4.7
Indirect Tax provision	-	16.3
Total current provisions	18.6	31.8
Non-Current
Site restoration	95.2	99.5
Employee entitlements	0.7	0.2
Total non-current provisions	95.9	99.7

Note 12: Events occurring after the balance sheet date

There were no subsequent events post the balance sheet date.

Directors' Declaration

In the opinion of the directors:

1)  the financial statements and notes are in accordance with the Corporations Act 2001, including:

(a)   complying with Accounting Standard AASB 134 Interim Financial Reporting, the Corporations Regulations 2001; and

(b)   giving a true and fair view of the Group's financial position as at 30 June 2026 and of its performance, as required by Accounting Standards, for the half year ended on that date.

2)  there are reasonable grounds to believe that the Group will be able to pay its debts as and when they become due and payable.

This declaration has been made in accordance with a resolution of the directors.

Chris Eger

Managing Director & CEO

Perth, Western Australia 20 August 2026

Independent auditor's review report to the members of Resolute Mining Limited

Conclusion

We have reviewed the accompanying half-year financial report of Resolute Mining Limited (the Company) and its subsidiaries (collectively the Group), which comprises the consolidated statement of financial position as at 30 June 2026, the consolidated statement of comprehensive income, consolidated statement of changes in equity and the consolidated cash flow statement for the

half-year ended on that date, explanatory notes, and the directors' declaration.

Based on our review, which is not an audit, we have not become aware of any matter that makes us believe that the half-year financial report of the Group does not comply with the Corporations Act 2001, including:

a.     Giving a true and fair view of the consolidated financial position of the Group as at 30 June 2026 and of its consolidated financial performance for the half-year ended on that date; and

b.    Complying with Accounting Standard AASB 134 Interim Financial Reporting and the Corporations Regulations 2001.

Basis for conclusion

We conducted our review in accordance with ASRE 2410 Review of a Financial Report Performed by the Independent Auditor of the Entity (ASRE 2410) and ISRE 2410 Review of Interim Financial Information Performed by the Independent Auditor of the Entity(ISRE 2410). Our responsibilities are further described in the Auditor's responsibilities for the review of the half-year financial report section of our report. We are independent of the Group in accordance with the auditor independence requirements of the Corporations Act 2001 and the ethical requirements of the Accounting Professional and Ethical Standards Board's APES 110 Code of Ethics for Professional Accountants (including Independence Standards)(the Code) that are relevant to reviews of the half-year financial report of public interest entities in Australia. We have also fulfilled our other ethical responsibilities in accordance with the Code.

Directors' responsibilities for the half-year financial report

The directors of the Company are responsible for the preparation of the half-year financial report that gives a true and fair view in accordance with Australian Accounting Standards and the Corporations Act 2001 and for such internal control as the directors determine is necessary to enable the preparation of the half-year financial report that gives a true and fair view and is free from material misstatement, whether due to fraud or error.

Auditor's responsibilities for the review of the half-year financial report

Our responsibility is to express a conclusion on the half-year financial report based on our review. ASRE 2410 and ISRE 2410 require us to conclude whether we have become aware of any matter that makes us believe that the half-year financial report is not in accordance with the Corporations

Act 2001including giving a true and fair view of the Group's financial position as at 30 June 2026 and its performance for the half-year ended on that date, and complying with Accounting Standard

AASB 134 Interim Financial Reportingand the Corporations Regulations 2001.

A review of a half-year financial report consists of making enquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Australian Auditing Standards or International Standards on Auditing issued by the International Auditing and Assurance Standards Board and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Philip Teale Partner Perth

20 August 2026

 

END