Slide 1: Cowal site visit presentation
Inspired people creating a premier global gold company For personal use only Cowal site visit presentation 20 June 2024
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: Acknowledgement of Country
Acknowledgement of Country For personal use only Evolution Mining acknowledges the Wiradjuri people as the Traditional Custodians of the lands on which we operate and pay our respects to their Elders past and present. We recognise their strengths and ongoing connection to the land, waters and commun
Slide 4: Values share
Values share For personal use only Our values Safety Excellence Accountability Respect 4
Slide 5: Lawrie Conway, Managing Director and CEO
Lawrie Conway For personal use only Managing Director and CEO
Slide 6: Cowal: demonstrating the benefits of our strategy
Cowal: demonstrating the benefits of our strategy Acquisition Current Cornerstone asset of the portfolio Ore Reserves (% of group) 1.6Moz1 (35%) 4.5Moz2 (39%) For personal use only Mineral Resources (% of group) 3.4Moz1 (31%) 8.8Moz2 (28%) Long mine life ahead – mining lease to 2045 Mine life 20
Slide 7: Cowal: a world class operation
Cowal: a world class operation Consistent cash generator CONSISTENT >$1.0B net cash flow since acquisition1 1 ~(1,700) For personal use only Average annual operating cash ~$300M2 ~2,730 CASH Cash flow JQ24 to 31 May double MQ24 GENERATOR Fully repaid all acquisition and subsequent capital
Slide 8: Set up to deliver for at least the next two decades
Set up to deliver for at least the next two decades For personal use only Next phase of open pit FY24+ and ramp up of underground Delineated, developed and FY17 – FY24 commissioned underground mine Positioned for the long FY19 – FY24 Integrated waste landform construction term with multiple ore FY18
Slide 9: Positioned to be a materially higher cash contributor
Positioned to be a materially higher cash contributor Multiple ore sources supporting production of ~320kozpa Open pit For personal use only Continues to provide the baseload plant feed E42 main ore source over next ~12 years Complemented by satellites at E41 and E46 Operating costs averag
Slide 10: Joe Mammen, General Manager Cowal
Joe Mammen For personal use only General Manager Cowal
Slide 11: Cowal site leadership team
Cowal site leadership team For personal use only Kyal Hunter Emma Stuart Will Bond Rudy Buys Joe Mammen Manager – Manager – Manager – Manager - General Manager - Cowal Operations Mining Underground Mining Maintenance James Didovich Andrew Wotton Kellie Bromfield Greg Coase Ryan Bettcher Manager - Ma
Slide 12: Cowal
Cowal Highly engaged workforce with strong safety performance For personal use only Strong relationships with local stakeholders Well established operation with key infrastructure in place Long life asset with ore source optionality Underground ramp up occurring as planned 12
Slide 13: Sustainability integrated into everything we do
Sustainability integrated into everything we do For personal use only 13
Slide 14: Cowal
Cowal For personal use only Location Approximately 38km north-east of West Wyalong in New South Wales, Australia Property Mining Lease (ML1535 & ML1791) encompasses an area of 2,886 hectares and lies within Evolution’s total property holding of ~14,200 hectares Commencement Mining commenced 2005 and
Slide 15: Open pit mining
Open pit mining E46 For personal use only E41W E42 Regal Galway E41E Underground Inferred Mineral Planned Development – Ore Reserve Resource – Dec 2023 – Dec 2023 Underground Indicated Mineral Proposed Open Pits EIS 2023 Resource – Dec 2023 Stopes – Probable Ore Reserve – Proposed Lake Protection Bu
Slide 16: Underground operations
Underground operations Project carried out to plan For personal use only Delineated, developed and commissioned underground mine Key infrastructure in place for mine life Production ramp up on track ~1.8Mt annualised mining rate quarter to date to May 2024 Increasing to ~2Mtpa in FY25 an
Slide 17: Glen Masterman, Vice President Discovery
Glen Masterman For personal use only Vice President Discovery
Slide 18: Discovery
Discovery Regional Geology Exploration & Mining Lease For personal use only Evolution controls highly prospective copper and gold ground across 2 of the 3 main segments of the highly endowed Macquarie E-42 OP and Cowal UG Arc Near-term growth in the Cowal Underground to be driven by strike Marsd
Slide 19: Continued growth options
Continued growth options Recent drilling For personal use only results increasing ounces per vertical metre on current and future production levels Further growth expected along strike and at depth where the orebody remains open in all directions Long section looking west at the Cowal Undergroun
Slide 20: Summary
Summary World class gold mine with plans to 2040+ For personal use only Investment fully repaid at 19% annual return Moving to higher rate of cash generation Higher annual production rate of 320koz established Plenty of exploration upside potential both at existing operations and near mine 20
Slide 21: Questions
For personal use only Questions
Slide 22: Appendix: Exploration update
Appendix For personal use only Exploration update
Slide 23: Cowal Competent Person statement
Cowal Competent Person statement The information in this report that relates to the Cowal exploration results is based on work compiled by Zachary Murphy who is employed on a full-time basis by Evolution Mining Limited and is a member of the Australian Institute of Geoscientists (member number 8686)
Slide 24: Drill hole information summary
Drill hole information summary Hole Easting (m) Northing (m) Elevation Hole Length From Hole ID Dip Azimuth DH Length (m) ETW (m) Au (g/t) Type MGA94 z55 MGA94 z55 (m) (m) (m) RDU0061 DDH 538311.4 6278488.6 -178.3 -53.5 311.5 299.7 82.0 6.0 4.2 5.30 For personal use only RDU0061 DDH 538311.4 6278488
Slide 25: Drill hole information summary
Drill hole information summary Hole Easting (m) Northing (m) Elevation Hole Length From Hole ID Dip Azimuth DH Length (m) ETW (m) Au (g/t) Type MGA94 z55 MGA94 z55 (m) (m) (m) RDU0110 DDH 538295.4 6278116.1 -200.8 -39.0 300.0 280.0 164.0 11.0 7.7 10.91 For personal use only RDU0110 Including 173.0 1
Slide 26: JORC Code 2012 Assessment and Reporting Criteria
JORC Code 2012 Assessment and Reporting Criteria (Criteria in Section 1 apply to all succeeding sections) Cowal Section 1 Sampling Techniques and Data Criteria Explanation Commentary For personal use only Sampling • Nature and quality of sampling (e.g. cut channels, random chips, or specific Sampl
Slide 27: JORC Code 2012 Assessment and Reporting Criteria
JORC Code 2012 Assessment and Reporting Criteria (Criteria in Section 1 apply to all succeeding sections) Cowal Section 1 Sampling Techniques and Data Criteria Explanation Commentary For personal use only Logging • Whether core and chip samples have been geologically and geotechnically Diamond cor
Slide 28: JORC Code 2012 Assessment and Reporting Criteria
JORC Code 2012 Assessment and Reporting Criteria (Criteria in Section 1 apply to all succeeding sections) Cowal Section 1 Sampling Techniques and Data Criteria Explanation Commentary For personal use only Quality of assay • The nature, quality and appropriateness of the assaying and laboratory SGS
Slide 29: JORC Code 2012 Assessment and Reporting Criteria
JORC Code 2012 Assessment and Reporting Criteria (Criteria in Section 1 apply to all succeeding sections) Cowal Section 1 Sampling Techniques and Data Criteria Explanation Commentary For personal use only Verification of • The verification of significant intersections by either independent or altern
Slide 30: JORC Code 2012 Assessment and Reporting Criteria
JORC Code 2012 Assessment and Reporting Criteria (Criteria in Section 1 apply to all succeeding sections) Cowal Section 1 Sampling Techniques and Data Criteria Explanation Commentary For personal use only Orientation of • Whether the orientation of sampling achieves unbiased sampling of possible D
Slide 31: JORC Code 2012 Assessment and Reporting Criteria
JORC Code 2012 Assessment and Reporting Criteria (Criteria listed in the preceding section also apply to this section) Cowal Section 2 Reporting of Exploration Results Criteria Explanation Commentary For personal use only Mineral • Type, reference name/number, location and ownership including agreem
Slide 32: JORC Code 2012 Assessment and Reporting Criteria
JORC Code 2012 Assessment and Reporting Criteria (Criteria listed in the preceding section also apply to this section) Cowal Section 2 Reporting of Exploration Results Criteria Explanation Commentary For personal use only Drill hole • A summary of all information material to the understanding of the
Slide 33: JORC Code 2012 Assessment and Reporting Criteria
JORC Code 2012 Assessment and Reporting Criteria (Criteria listed in the preceding section also apply to this section) Cowal Section 2 Reporting of Exploration Results Criteria Explanation Commentary For personal use only Diagrams • Appropriate maps and sections (with scales) and tabulations of inte
Slide 34: JORC Code 2012 Assessment and Reporting Criteria
JORC Code 2012 Assessment and Reporting Criteria (Criteria listed in the preceding section also apply to this section) Cowal Section 2 Reporting of Exploration Results Criteria Explanation Commentary For personal use only 100m Vertical cross section cut at 36550mN +/-75m Vertical cross section cut a
Slide 35: JORC Code 2012 Assessment and Reporting Criteria
JORC Code 2012 Assessment and Reporting Criteria (Criteria listed in the preceding section also apply to this section) Cowal Section 2 Reporting of Exploration Results Criteria Explanation Commentary For personal use only Vertical cross section cut at 37025mN+/-75m looking North at Edradour drill ho
Slide 36: JORC Code 2012 Assessment and Reporting Criteria
JORC Code 2012 Assessment and Reporting Criteria (Criteria listed in the preceding section also apply to this section) Cowal Section 2 Reporting of Exploration Results Criteria Explanation Commentary For personal use only Balanced • Where comprehensive reporting of all Exploration Results is not pra
Slide 37: Appendix: Mineral Resources and Ore Reserves
Appendix For personal use only Mineral Resources and Ore Reserves
Slide 38: Group gold Mineral Resources at December 2023
Group gold Mineral Resources at 31 December 2023 Gold Measured Indicated Inferred Total Resource Cut-off Tonnes Gold Gold Metal Tonnes Gold Gold Metal Tonnes Gold Gold Metal Tonnes Gold Gold Metal CP9 Project Type (g/t Au) (Mt) Grade (g/t) (koz) (Mt) Grade (g/t) (koz) (Mt) Grade (g/t) (koz) (Mt) Gra
Slide 39: Group gold Ore Reserves at December 2023
Group gold Ore Reserves at 31 December 2023 Gold Proved Probable Total Reserve Competent Cut-off Gold Grade Gold Metal Tonnes Gold Grade Gold Metal Tonnes Gold Grade Gold Metal Person10 Project Type Tonnes (Mt) (g/t Au) (g/t) (koz) (Mt) (g/t) (koz) (Mt) (g/t) (koz) Cowal1 Stockpiles 0.45g/t Au 40.4
Slide 40: Group copper Mineral Resources at December 2023
Group copper Mineral Resources at 31 December 2023 Copper Measured Indicated Inferred Total Resource Copper CP6 Tonnes Copper Tonnes Copper Copper Tonnes Copper Copper Tonnes Copper Copper Project Type Cut-off Grade Metal (kt) Grade (%) Metal (kt) Grade (%) Metal (kt) Grade (%) Metal (kt) For person
Slide 41: Group copper Ore Reserves at December 2023
Group copper Ore Reserves at 31 December 2023 Copper Proved Probable Total Reserve CP5 Copper Copper Copper Copper Copper Copper Project Type Cut-Off Tonnes (Mt) Tonnes (Mt) Tonnes (Mt) For personal use only Grade (%) Metal (kt) Grade (%) Metal (kt) Grade (%) Metal (kt) Ernest Henry1 Underground 0.5
Slide 42: For personal use only
For personal use only