Slide 1: Chair's Address to the Annual General Meeting
Evolution Mining Limited ABN 74 084 669 036 Sydney Office P +61 2 9696 2900 F +61 2 9696 2901 Level 24 175 Liverpool Street Sydney NSW 2000 www.evolutionmining.com.au ASX Announcement 20 November 2025 For personal use only Chairs Address to the Annual General Meeting It is a pleasure to welcome you
Slide 2: Chair's Address (continued)
The Leadership Team has been enhanced this year with the addition of Fran Summerhayes who recently joined as Chief Financial Officer, from BHP. This follows the appointment of our Chief Operating Officer, Matt O’Neill, and Nancy Guay as Chief Technical Officer just over 12 months ago. I am confident
Slide 3: Chair's Address: Closing and About Evolution Mining
enabled by appropriate regulatory approvals from the NSW and Federal government, Cowal’s mine life has been extended time and time again. Over the last 10 years the operation produced 2.6 million ounces of gold and paid over $200 million in royalties. Last year alone we spent more than $200 million
Slide 4: Annual General Meeting Presentation
Inspired people creating a premier global gold company For personal use only 2025 Annual General Meeting Presentation Lawrie Conway Managing Director and Chief Executive Officer 20 November 2025
Slide 5: 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 6: A record year of shareholder returns
A record year of shareholder returns Production – delivering AISC – maintaining an Net profit after tax – Group cash flows – Annual dividend – growth and operational industry-leading low- doubled two years in banking higher metal shareholder returns consistency cost profile a row prices increased by
Slide 7: A long life, high return portfolio
A long life, high return portfolio Percentage repaid Portfolio average return on investment of 18% with 15 years reserve life3 up to 25% 26-50% For personal use only 60 100% 350 FY26 gold production guidance (koz)2 (Mungari, Cowal, Return on investment FY26 gold production guidance (koz)2 (Ernest He
Slide 8: Investing shareholders funds wisely
Investing shareholders funds wisely Investors have made money on all equity funded deals For personal use only 14 Compound annual growth rate (CAGR)4 12 Northparkes 79% Mungari 29% Cowal 29% 10 Mungari (Kundana) 30% Ernest Henry 22% 8 Kundana 6 Northparkes 4 Ernest Henry Mungari 2 Cowal 0 2011 2012
Slide 9: Plenty of growth options across the portfolio
Plenty of growth options across the portfolio Mungari – transitioning Cowal – extended to Ernest Henry – mine Northparkes – Red Lake – focus on back to major cash 20426 life to at least 20407 optionality from a margin over ounces For personal use only contributor significant Resource ▪ Production ra
Slide 10: Sustainable high shareholder returns
Sustainable high shareholder returns Continued safe and reliable delivery For personal use only 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 11% Well-sequenced growth
Slide 11: Endnotes
Endnotes 1. FY25 AISC calculated for continuing operations excluding Mt Rawdon, which ceased mining operations in FY25. AISC includes C1 cash cost, plus royalties, sustaining capital, general corporate and administration expense, calculated per ounce sold. In line with World Gold Council guidelines.
Slide 12: For personal use only
For personal use only
Slide 13: Appendix: Mineral Resources and Ore Reserves
Appendix For personal use only Mineral Resources and Ore Reserves
Slide 14: 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 For personal use only Project Type (g/t Au) (Mt) Grade (g/t) (Moz) (Mt) Grade (g/t) (Moz) (Mt) Grad
Slide 15: 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 For personal use only Project Type Tonnes (Mt) (g/t Au) (g/t) (Moz) (Mt) (g/t) (Moz) (Mt) (g/t) (Moz) Cowal Stockpi
Slide 16: Group copper Mineral Resources at December 2024
Group copper Mineral Resources at 31 December 2024 Copper Measured Indicated Inferred Total Resource For personal use only 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
Slide 17: Group copper Ore Reserves at December 2024
Group copper Ore Reserves at 31 December 2024 Copper Proved Probable Total Reserve For personal use only 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
Slide 18: For personal use only
For personal use only