Slide 1: Annual General Meeting
For personal use only Annual General Meeting 23 November 2017
Slide 2: Forward looking statements
Forward looking statements These materials prepared by Evolution Mining Limited (or “the Company”) include forward looking statements. Often, but not always, forward For personal use only looking statements can generally be identified by the use of forward looking words such as “may”, “will”, “exp
Slide 3: Overview
For personal use only Overview
Slide 4: Overview
Overview ASX code EVN For personal use only Shares outstanding 1,693M Market capitalisation(1) A$4,232M Average daily share turnover(2) A$25M Net bank debt(3) A$282M Forward sales(3) 393,144oz at A$1,661/oz Major shareholders La Mancha 27%(4), Van Eck 10% New dividend policy Payout of 50% of after t
Slide 5: FY17 Performance
For personal use only FY17 Performance
Slide 6: Safety
Safety A continuous improvement culture driving positive initiatives Total Recordable Injury Frequency Rate For personal use only to keep our people safe (TRIFR) 24.4 FY17 focus on assurance reviews of critical control plans 19.9 Significant reduction in vehicle incidents achieved 12.0 NSW M
Slide 7: Operations
Operations For personal use only Ernest Henry (Economic interest) Mt Carlton (100%) Ore Reserves: 6.6Moz Mt Rawdon (100%) Mineral Resources: 13.3Moz Cracow (100%) Mungari (100%) Cowal (100%) Bubble size represents expected FY18 production FY17 production 844koz at AISC A$907/oz (US$684/oz) 7
Slide 8: Financial highlights
Financial highlights For personal use only FY17 financial highlights Units FY16 FY17 Change Statutory Profit after tax A$M (24.3) 217.6 - 1 Underlying Profit after tax A$M 134.5 206.6 54% EBITDA A$M 607.6 713.9 17% Operating Cash flow A$M 628.4 706.5 12% Group Cash flow A$M 365.0 382.0 5% EBITDA Mar
Slide 9: EBITDA margins
EBITDA margins Longest life assets generating highest margins For personal use only Group EBITDA Margin Benefits of diverse portfolio – no dependence on any single asset 49% Site EBITDA Margin 46% FY16 40% 64% 59% 59% 61% FY17(1) 33% 58% 55% 48% 49% 47% 49% 39% 18% 11% Cowal Ernest Henry Mt Carl
Slide 10: Balance sheet
Balance sheet Significant improvement in liquidity Debt Repayments and Commitments (A$M) For personal use only Cash and undrawn debt of A$413.0M Repayment of A$325.0M of debt during FY17 322 325 Syndicated debt at 31 Oct 2017 of A$395.0M 135 No debt payment obligations until April 2018 120
Slide 11: Business Development
For personal use only Business Development
Slide 12: Portfolio management impact on AISC
Portfolio management impact on AISC Acquisition of Mungari economic For personal use only interest in acquisition with La Mancha Ernest (AISC A$30/oz) Henry (AISC A$100/oz) Cowal acquisition Mt Carlton FY10 FY18 (AISC A$100/oz) first concentrate produced FY10 FY17 March 2013 FY10 FY16 Evolution (AIS
Slide 13: Current asset portfolio
Current asset portfolio $2,250 For personal use only $2,000 (Gold price of A$1,650/oz less FY17 AISC)1 Ernest Current indicative AISC margin (A$/oz) $1,750 Henry The Group average asset produces at an $1,500 AISC of A$830/oz and has a ~9 year reserve life $1,250 $1,000 Mt Carlton Mt $750 Rawdon Cowa
Slide 14: Discovery
For personal use only Discovery
Slide 15: Strategic focus
Strategic focus ▪ Epithermal and orogenic lode gold For personal use only deposits ▪ Will consider iron oxide copper- gold deposits (opportunistic) ▪ Primary focus in Australia, opportunistic assessment of targets offshore ▪ Driven by our ability to discover an orebody across a 3 – 5 year period ▪ L
Slide 16: Cowal
Cowal Growth For personal use only Ore Reserves increased from 1.6Moz to 3.2Moz under Evolution ownership1 Opportunities E41 West follow-up drilling extends mineralisation along strike and down-dip of holes E41D2801 and E41D2802: 21m grading 2.19g/t Au from 349m and 88m grading 0.72g/t Au from
Slide 17: Cracow
Cracow New resource definition drilling at For personal use only Imperial delivering impressive results1 8.7m (7.4m etw) at 10.99 g/t Au (IMU062) 8.3m (6.9m etw) at 46.22 g/t Au (IMU065) 5.8m (5.6m etw) at 12.65g/t Au (IMU072) 9.8m (9.4m etw) at 25.85g/t Au (IMU074) 11.2m (9.4m etw) at 8.1
Slide 18: Mungari
Mungari Strategic footprint in world-class Kalgoorlie region For personal use only Total tenement package now ~990km2 – previous owners focused primarily on shallow, oxide mineralisation Regional resource definition drilling extends high grade mineralisation beyond existing resources Emu – 1
Slide 19: Inspired People
For personal use only Inspired People
Slide 20: Our People
Our People People are critical to our success For personal use only We continue to build Evolution’s reputation in the marketplace We have a highly engaged and capable workforce, who are acting like owners We’re creating opportunities for our people Our investment in developing our people
Slide 21: Community Relations
For personal use only Community Relations
Slide 22: Social responsibility
Social responsibility Environmental Enhancement Projects Shared Value Projects For personal use only Mungari Cracow Partnering with Coolgardie Primary School on Partnering with Banana Shire Council on Cracow sensory play area and bush tucker garden Community Caravan Park to encourage tourism & Mt Ca
Slide 23: Technology and Innovation
For personal use only Technology and Innovation
Slide 24: Thinking digitally
Thinking digitally ▪ Our approach For personal use only ▪ Align people, process and tools with culture of thinking ‘digitally’ ▪ Promote culture of innovation through Act Like and Owner and our Leadership Development programs ▪ Focus on productivity improvements – “if it don’t make dollars, it don’t
Slide 25: Vision
For personal use only Vision
Slide 26: Vision
Vision For personal use only Move meaningfully down the Bradley curve for risk Be known as a company that is good for your career Improve operational efficiency and productivity Develop an ore body we have discovered Inspired people creating Australia’s premier gold company 26
Slide 27: ASX code: EVN
For personal use only ASX code: EVN www.evolutionmining.com.au
Slide 28: FY18 guidance
FY18 guidance For personal use only FY18 Guidance Gold production C1 cash costs1 All-in sustaining cost1 (oz) (A$/oz) (A$/oz) Cowal 235,000 - 245,000 660 – 720 950 – 1,000 Mungari 120,000 - 130,000 860 – 910 990 – 1,050 Mt Carlton 100,000 - 110,000 420 – 470 680 – 730 Mt Rawdon 105,000 - 115,000 670
Slide 29: Evolution Gold Ore Reserves
Evolution Gold Ore Reserves Gold Proved Probable Total Reserve Competent For personal use only Gold Grade Gold Metal Tonnes Gold Grade Gold Metal Tonnes Gold Grade Gold Metal Person Project Type Cut-Off Tonnes (Mt) (g/t) (koz) (Mt) (g/t) (koz) (Mt) (g/t) (koz) Cowal1 Open pit 0.4 43.7 0.71 994 73.02
Slide 30: Evolution Gold Mineral Resources
Evolution Gold Mineral Resources Gold Measured Indicated Inferred Total Resource For personal use only Gold Gold Gold Gold Gold Gold Gold Gold Competent Tonnes Tonnes Tonnes Tonnes Project Type Cut-off Grade Metal Grade Metal Grade Metal Grade Metal Person (Mt) (Mt) (Mt) (Mt) (g/t) (koz) (g/t) (koz)
Slide 31: Evolution Copper Reserves and Resources
Evolution Copper Reserves and Resources Group Copper Ore Reserves Statement For personal use only Copper Proved Probable Total Reserve Competent Copper Copper Copper Grade Copper Copper Copper Person Project Type Cut-Off Tonnes (Mt) Tonnes (Mt) Tonnes (Mt) Grade (%) Metal (kt) (%) Metal (kt) Grade (