Ann: FY22 Financial Results, page-2

Summary
 Statutory net loss after tax of $81.7 million (FY21 Net profit after tax $42.9 million)
 Underlying net loss after tax of $1.3 million (FY21 Underlying net profit after tax $57.4 million)
 Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) increased 8% to $166.5 million (FY21: $154.1 million)
 Underlying Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) decreased 15% to
$142.8 million (FY21: $168.6 million)
 Non-cash impairment expense of $135.7 million (post tax $95.0 million) for the Dargues Mine in
recognition of reduced average gold grade and overall reduction in mining inventory
 Revenue from ordinary activities increased by 5% to $438.8 million (FY21 $416.5 million)
 Cash in bank $76.7 million (FY21: $74.5 million)
 Term loan facility balance of $20.7 million at 30 June 2022 after $16.2 million debt repayments during the
year (FY21: $36.9 million after $8.1 million of repayments)
 Significant progress towards the Company’s two significant organic growth projects:
 Federation Zn/Pb/Au Project surface works, and box cut activities are nearing completion just three
years after discovery, enabling exploration decline commencement
 Great Cobar Cu/Au Project received full Development Consent from the New South Wales Government,
as part of the New Cobar Complex.

Commenting on the results, Aurelia Metals’ Managing Director and Chief Executive Officer, Dan
Clifford said:
“Federation and Great Cobar will transform our Cobar Basin operations into long life mines producing
future-facing metals that are in significant demand.
“With Development Consent already received for Great Cobar, and Federation in final stages of
consenting, these outstanding projects are very much de-risked and are set to deliver exceptional returns
with first operating cashflow less than two years away.
“Our short term focus remains on our plans to improve mining performance and mitigate impacts from
current market conditions including cost pressures and labour shortages.”

Operations
Record gross metal gold equivalent production due to strong contribution from base metals at 198koz (FY21:
181koz)
Group gold production was 98.5koz at an AISC of A$1,707/oz (FY21: 104koz at A$1,337/oz) including:
 Peak gold production of 40koz of gold at an AISC of A$1,520/oz (FY21: 57koz at AISC of A$867/oz)
 Hera gold production of 16koz of gold at an AISC of A$625/oz (FY21: 31koz at AISC of A$1,206/oz), and
 Dargues gold production of 42koz of gold at an AISC of A$2,039/oz as operational performance continued to improve during the mine’s first year of full operations (FY21: 15koz at ASIC of A$2,483/oz).

Strong base-metal production and associated by-product credits generated from Peak and Hera Mines.
Operational productivity was impacted by labour availability, COVID-19 related absenteeism, significant and sustained rainfall events, as well as select site-specific interruption during the second half of FY22.
During the June 2022 quarter, the Company commenced a review of operating strategies at each operation, including a focus on cost structure and debottlenecking. These plans together with the introduction of a new mining contractor at Hera, and the transition to owner-mining at Peak are designed to improve control of costs and performance outcomes.