Slide 1: Inspired people creating a premier global gold company
Inspired people creating a premier global For personal use only gold company DENVER GOLD FORUM Lawrie Conway – Finance Director and Chief Financial Officer 19 September 2022 1
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: Evolution Snapshot
EVOLUTION SNAPSHOT For personal use only MARKET CAPITALISATION 1 US$2.6B MINERAL RESOURCES 2 30Moz gold, 1.7Mt copper Red Lake ORE RESERVES 2 10.3Moz gold, 640kt copper FY23 PRODUCTION 720koz +/- 5% GUIDANCE FY23 AISC GUIDANCE 3 US$870/oz +/- 5% 18 consecutive dividends DIVIDENDS paid - over US$700
Slide 4: Sustainability
SUSTAINABILITY Shared value of health and safety For personal use only Safeguard our social licence to operate Committed to our ‘Net Zero’ target and supporting our local communities: Convert Mt Rawdon open pit into a 1-2GW Pumped Hydro generator Feasibility Study to be completed in FY23
Slide 5: The Vision for Red Lake
THE VISION FOR RED LAKE For personal use only Restoring Red Lake to a premier long-life, low-cost Canadian gold mine A world-class, High-quality Increased Significant high-grade leadership and margin resource and gold system in workforce and through higher exploration a Tier 1 a strong production an
Slide 6: Increasing Mined Tonnes and Grade
INCREASING MINED TONNES AND GRADE Increased tonnes and development Newer modern equipment and bigger Higher grades from reduced dilution, For personal use only rates, improved stope turnover and drill fleet and drive sizes improving improved reconciliation and access to and blast practices efficienc
Slide 7: Production Guidance and Outlook
PRODUCTION GUIDANCE AND OUTLOOK FY23 guidance Production (koz) tonnes milled For personal use only and grade: 200 (+/-5%) ~1.1Mt at FY23 YTD1 Production lifting to 200koz as 160 (+/-5%) ~5.1g/t2 Upper Campbell ore accessed 115 25 FY22 FY23 FY24 Guidance Outlook Higher grade areas driving increased p
Slide 8: FY25 and Beyond
FY25 AND Significant Significant growth operating leverage upside BEYOND to reduce costs Clear For personal use only as production pathway to increases 300koz+ pa goal from Multiple options to FY27 expand milling Lifting mining rates to >1.8Mtpa Substantial Mineral Continued cost Resource base r
Slide 9: Cowal Underground mine design
COWAL Underground mine design Acquired for US$550M1 in 2015 For personal use only Returned ~US$600M in net mine cash flow Mine life extended from 2024 to 2040 ~US$265M new underground mine on schedule and budget FY23 Stopes All material contracts now awarded FY24 Stopes FY25+ Stopes Develo
Slide 10: Ernest Henry – Material Increase in Mineral Resources
ERNEST HENRY – MATERIAL INCREASE IN MINERAL RESOURCES For personal use only US$1.3B total cost to acquire the asset Returned almost US$1.1B of net mine cash flow Mineral Resource1 updated with ~30km of new drilling 28% increase in Copper to 1.13 million tonnes 24% increase in Gold to 2.07
Slide 11: Mungari
MUNGARI District now consolidated for the first time For personal use only Kundana assets delivering higher grade ore Integration into “One Mungari” providing operational flexibility Plant expansion a logical and value accretive growth option Remain committed to complete Feasibility Study
Slide 12: Discovery – FY23 Exploration Budget
DISCOVERY FY23 EXPLORATION BUDGET ~US$45M Mineral Resource growth since inception For personal use only COST OF ADDING (Moz)1 MINERAL RESOURCES US$25-30/oz 29.6 26.4 14.0 14.2 14.2 14.7 15.2 6.8 5.4 5.0 Dec Dec Dec Dec Dec Dec Dec Dec Dec Dec 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Ore Res
Slide 13: Strong Balance Sheet
STRONG BALANCE SHEET Long term debt maturity profile Debt Maturity Profile (US$M) For personal use only Liquidity of US$650M+ to support growth projects1 Cash on hand US$400M1 Undrawn revolving credit facility US$252M 334 168 191 191 Investment grade rating reaffirmed in annual review 119
Slide 14: Takeaways
TAKEAWAYS For personal use only OUR PEOPLE ARE OUR MOST IMPORTANT ASSET REMAINING ONE OF THE LOWEST COST GLOBAL GOLD PRODUCERS PRUDENT AND GATED CAPITAL SPEND – FOCUSED ON MARGIN STRONG BALANCE SHEET 14
Slide 15: Appendix
For personal use only Appendix 15
Slide 16: Evolution Dec 2021 Gold Mineral Resources
EVOLUTION 31 DEC 2021 GOLD MINERAL RESOURCES ( W I T H E R N E S T H E N R Y 3 0 J U N E 2 0 2 2 M I N E R A L R E S O U R C E U P D AT E ) Gold Measured Indicated Inferred Total Resource For personal use only Gold Gold Gold Gold Gold Gold Gold Gold CP6 Tonnes Tonnes Tonnes Tonnes Project Type Cut-O
Slide 17: Evolution Dec 2021 Gold Ore Reserves
EVOLUTION 31 DEC 2021 GOLD ORE RESERVES For personal use only Gold Proved Probable Total Reserve Tonnes Gold Gold Metal Tonnes Gold Grade Gold Metal Tonnes Gold Gold Metal CP7 Project Type Cut-Off (Mt) Grade (g/t) (koz) (Mt) (g/t) (koz) (Mt) Grade (g/t) (koz) Cowal1 Open pit 0.45 23.9 0.46 356 99.7
Slide 18: Evolution Dec 2021 Copper Resources & Reserves
EVOLUTION 31 DEC 2021 COPPER RESOURCES & RESERVES ( W I T H E R N E S T H E N R Y 3 0 J U N E 2 0 2 2 M I N E R A L R E S O U R C E U P D AT E ) For personal use only Group Copper Mineral Resource Statement Copper Measured Indicated Inferred Total Resource Copper Copper Copper Copper CP3 Tonnes Copp
Slide 19: Evolution Mining
For personal use only Evolution MINING