Slide 1: 2025 Full Year Results
Inspired people creating a premier global gold company 2025 Full Year Results Lawrie Conway – Managing Director and Chief Executive Officer 13 August 2025
Slide 2: Forward looking statement
Forward looking statement These materials prepared by Evolution Mining Limited ('Evolution' or 'the Company') include forward looking statements. Often, but not always, forward looking statements can generally be identified by the use of forward looking words such as 'may', 'will', 'expect', 'intend
Slide 3: FY25 record financial performance
FY25 record financial performance Record underlying profit Record final dividend – up ~3x $958M 13cps Strong EBITDA margin Record earnings per share 51% 46cps Mungari expansion delivered under Record Group cash flow budget & early, Cowal OPC approved $787M Project sequencing Record EBITDA Production
Slide 4: Sustainability integrated into everything we do
Sustainability integrated into everything we do TRIF1 35% improved Health, Safety and 10.7 8.6 Wellbeing 7.7 5.0 FY22 FY23 FY24 FY25 FY22 FY23 FY24 FY25 Committed to -7% -7% reducing Net Zero -14% -16% carbon 2,3,4 improvement footprint 30% 6+ high impact Positive community projects community suppor
Slide 5: High cash margins with spot price upside
High cash margins with spot price upside FY24 vs FY25 cash flow Spot price $800/oz Margin over ounces 3,049 above FY25 achieved price FY24 ($M) FY25 ($M) ▪ Banking upside of current high metal prices FY25 ($/oz produced) ▪ Spot price $800/oz above FY25 achieved price 1,380 1,049 ▪ Every operation co
Slide 6: Increasing shareholder returns commitment met
Increasing shareholder returns commitment met Dividends per share & gearing 35% 33% Shareholder returns 28% 30% 20 25% ▪ 25th consecutive dividend 25% 16 20% ▪ Dividends declared of $1.7B since 2013 (FY25 $400M) 15% 15% 15% 12 ▪ Record annual dividend 10% 7% 6 7 5% ▪ Fully franked 13cps – ~3x FY24 f
Slide 7: FY26 guidance
FY26 guidance1 Mine operating cash flow ($M) Production guidance 2,755 ▪ Gold (ounces): 710,000 – 780,000 ▪ Copper (tonnes): 70,000 – 80,000 Cost guidance 2,290 ▪ All-in Sustaining Cost: $1,720 – $1,880/oz2 FY25 Actual FY25 actual4 FY26 Guidance (midpoint at spot) FY26 guidance (midpoint at spot)5 C
Slide 8: Sustainable high shareholder returns
Sustainable high shareholder returns Continued safe and reliable delivery Cost and capital discipline margin over ounces Capturing the benefit of high metal prices Rewarding shareholders with dividend ~3x FY24 Balance sheet flexibility enhanced gearing 15% Well-sequenced growth via multiple projects
Slide 9: Evolution Mining
Evolution MINING
Slide 10: Appendix: FY26 guidance
Appendix FY26 guidance
Slide 11: FY26 guidance
FY26 guidance Gold Copper Sustaining Major mine Major project Depreciation & AISC FY26 guidance production production capital development capital amortisation ($/oz)1,2 (koz) (kt) ($M)3 capital ($M)4 ($M)5 ($/oz)2,6 Group 710 – 780 70 – 80 1,720 – 1,880 200 – 270 215 – 270 365 – 440 1,150 – 1,300 Co
Slide 12: FY26 guidance (continued)
FY26 guidance (continued) ▪ FY26 group production in line with FY25 ▪ Disciplined investment in growing production and life ▪ Mungari – mill commissioning continues, targeting ▪ FY26 total capital ~$200 million lower than FY25 200kozpa rate in 2H ▪ No change to five-year Group capital outlook ▪ Cowa
Slide 13: Cost drivers and sensitivities
Cost drivers and sensitivities FY25 key cost drivers1 FY26 cash flow sensitivities ($M)2 Operating costs (+/-5%) 170 - 180 Grinding Media/ Diesel Explosives 3% 3% Copper price (+/- $1,100/t) 100 - 110 Reagents 4% Gold price (-/+ $100/oz) 70 - 80 Royalties 6% Contract Labour Copper volume (+/- 5%) 65
Slide 14: Appendix: Financial performance
Appendix Financial performance
Slide 15: Record financial performance
Record financial performance Financials Units FY24 FY25 Change Statutory profit after tax $M 422 926 119% Underlying profit after tax $M 482 958 99% EBITDA $M 1,428 2,161 51% Underlying EBITDA $M 1,513 2,207 46% EBITDA margin % 47 51 9% Operating mine cash flow $M 1,539 2,288 49% Net mine cash flow
Slide 16: Record profit
Record profit Consistent, reliable delivery & gold price ▪ Gold price moved significantly during FY25, especially in 2H ▪ Full year contribution by Northparkes ▪ Cowal benefitting from continued ramp up of higher-grade underground gold production ▪ Red Lake delivered consistent, production and cashf
Slide 17: Appendix: Mineral Resources and Ore Reserves
Appendix Mineral Resources and Ore Reserves
Slide 18: Group gold Mineral Resources at December 2024
Group gold Mineral Resources at 31 December 2024 Gold Measured Indicated Inferred Total Resource Cut-off Tonnes Gold Gold Metal Tonnes Gold Gold Metal Tonnes Gold Gold Metal Tonnes Gold Gold Metal CP4 Project Type (g/t Au) (Mt) Grade (g/t) (Moz) (Mt) Grade (g/t) (Moz) (Mt) Grade (g/t) (Moz) (Mt) Gra
Slide 19: Group gold Ore Reserves at December 2024
Group gold Ore Reserves at 31 December 2024 Gold Proved Probable Total Reserve Competent Cut-off Gold Grade Gold Metal Tonnes Gold Grade Gold Metal Tonnes Gold Grade Gold Metal Person3 Project Type Tonnes (Mt) (g/t Au) (g/t) (Moz) (Mt) (g/t) (Moz) (Mt) (g/t) (Moz) Cowal Stockpiles 0.45g/t Au 43 0.53
Slide 20: Group copper Mineral Resources at December 2024
Group copper Mineral Resources at 31 December 2024 Copper Measured Indicated Inferred Total Resource Copper CP3 Tonnes Copper Tonnes Copper Copper Tonnes Copper Copper Tonnes Copper Copper Project Type Cut-off Grade (Mt) Metal (kt) (Mt) Grade (%) Metal (kt) (Mt) Grade (%) Metal (kt) (Mt) Grade (%) M
Slide 21: Group copper Ore Reserves at December 2024
Group copper Ore Reserves at 31 December 2024 Copper Proved Probable Total Reserve CP2 Copper Copper Copper Copper Copper Copper Project Type Cut-Off Tonnes (Mt) Tonnes (Mt) Tonnes (Mt) Grade (%) Metal (kt) Grade (%) Metal (kt) Grade (%) Metal (kt) Ernest Henry Underground 0.75 – 0.80% CuEq 32 1.07
Slide 22: Evolution Mining
Evolution MINING