Slide 1: 2023 Full Year Financial Results
Inspired people creating a premier global gold company For personal use only 2023 FULL YEAR FINANCIAL RESULTS Jake Klein – Executive Chair Lawrie Conway – Chief Executive Officer and Managing Director Barrie van der Merwe – Chief Financial Officer Glen Masterman – Vice President Discovery 17 August
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: Three Key Messages
THREE KEY MESSAGES 1 2 Disciplined 3 Business outlook: Ernest Henry capital For personal use only stronger cash generation opportunity1 management Cowal Ernest Henry 21st dividend 4th upgrade ✓ Record annual production ✓ Recovered from weather ✓ ~16% growth in FY24 event 2.0 cents, fully since ✓ Ret
Slide 4: Sustainability
SUSTAINABILITY Integrated into everything we do ▪ Keeping our people healthy and safe For personal use only ▪ Ongoing TRIF1 improvement, FY23 reduced by 19% ▪ Enhancing our social licence to operate ▪ Listening and partnering with the communities in which we operate on matters important to them ▪ 20
Slide 5: FY24: Moving to Stronger Cash Generation
FY24: MOVING TO STRONGER CASH GENERATION Production (koz) ▪ Margin over ounces priority ▪ FY24 AISC guidance 6% lower at $1,370/oz (±5%) For personal use only ▪ Cost discipline to optimise margin and manage inflation ~770 ▪ FY24 production guidance 18% higher at 770koz (±5%) 651 ▪ Key increases at C
Slide 6: FY24: Portfolio Improvements
FY24: PORTFOLIO IMPROVEMENTS Strong pipeline of quality opportunities driving returns FY24 Guidance1 For personal use only Cowal Production to increase ~16% in FY24 after record FY23 in line with ramp-up of the new Underground ~320,000oz gold at Project; commenced transition back to strong positive
Slide 7: FY23 Financial Highlights
FY23 FINANCIAL HIGHLIGHTS Financials Units FY232 FY22 Change For personal use only Statutory Profit After Tax $M 163.5 323.3 (49%) Underlying Profit After Tax $M 205.0 274.7 (25%) EBITDA $M 844.5 898.8 (6%) EBITDA Margin % 38% 44% (14%) Operating Mine Cash Flow $M 944.1 893.3 6% Capital Investment $
Slide 8: Net Profit After Tax
NET PROFIT AFTER TAX Key drivers 112.0 ▪ Weather events at Ernest Henry and Mt Rawdon For personal use only 64.6 ▪ Full year of Ernest Henry ownership 323.3 28.5 ▪ Higher realised gold price $2,592/oz (FY22 $2,425/oz) 58.3 ▪ Inflation impacted costs by ~ 5% (~$71M) 87.1 40.3 38.2 205.0 150.3 13.8 24
Slide 9: FY23 Key Cost Drivers
FY23 Key Cost Drivers Reagents, 5% Selling, Refining & Logistics, 5% COST DRIVERS Maintenance Consumables, 8% Diesel, 5% Royalties, 5% ▪ No material change in cost drivers ▪ Labour comprises ~50% of cost base For personal use only Other, 8% ▪ Top 7 cost types comprise ~80% of total costs Electricity
Slide 10: Dividends and Debt
DIVIDENDS AND DEBT Cumulative dividends declared ($M) FY23 Final Dividend ▪ Fully franked 2 cents per share (~$38M) For personal use only ▪ Supported by expected FY24 improved cash generation 1,053 1,128 943 ▪ Over $1.1B returned to shareholders 732 459 87 ▪ Payment date: 6 October 2023 7 21 43 171
Slide 11: Ernest Henry – Significant Growth Potential
ERNEST HENRY – SIGNIFICANT GROWTH POTENTIAL Further increase to 30 June Mineral Resource estimate:1 For personal use only ▪ 101.5Mt at 1.25% Cu and 0.73 g/t Au for 1.3Mt of contained copper and 2.4Moz of contained gold (net of mining depletion) Ernest Henry Mineral Resource Growth2 (Over the last 18
Slide 12: Summary
SUMMARY Focus on safe and reliable operational delivery – margin over ounces For personal use only Organic growth options to deliver long term returns Capital discipline – investing when needed and justified Cash generation benefit – upside at spot prices 12
Slide 13: Appendix
For personal use only APPENDIX 13
Slide 14: Sustainability Principles
SUSTAINABILITY PRINCIPLES The objective of our sustainability efforts is to deliver long-term stakeholder value through safe, low-cost gold production in an environmentally and socially responsible manner For personal use only Be an employer of choice Demonstrate robust risk Contribute positively to
Slide 15: FY24 Guidance
FY24 GUIDANCE Sustaining Major Major Gold (oz) AISC ($/oz) FY24 Guidance Capital Project Capital Mine Development (+/-5%) (+/-5%) ($M) ($M) ($M) For personal use only Group 770,000 1,370 190 – 230 325 – 350 125 – 140 Cowal 320,000 1,250 40 – 50 85 – 90 ~5 Ernest Henry 80,000 (2,000) 55 – 62.5 45 – 5
Slide 16: Group Gold Mineral Resources at December 2022
GROUP GOLD MINERAL RESOURCES AT 31 DECEMBER 2022 ( W I T H E R N E S T H E N R Y J U N E 2 0 2 3 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 Gold Gold Gold Gold Gold Gold Gold Cut-off Tonnes Tonnes Tonnes Gold Metal CP7 Project Type Tonnes (Mt) Grade Gr
Slide 17: Group Gold Ore Reserves at December 2022
GROUP GOLD ORE RESERVES AT 31 DECEMBER 2022 ( W I T H E R N E S T H E N R Y J U N E 2 0 2 3 O R E R E S E R V E U P D AT E ) Gold Proved Probable Total Reserve Competent Cut-off Tonnes Gold Grade Gold Metal Tonnes Gold Grade Gold Metal Tonnes Gold Grade Gold Metal Person8 Project Type (g/t Au) (Mt)
Slide 18: Group Resources & Reserves at December 2022
GROUP RESOURCES & RESERVES AT 31 DECEMBER 2022 ( W I T H E R N E S T H E N R Y J U N E 2 0 2 3 O R E R E S E R V E A N D M I N E R A L R E S O U R C E U P D AT E S ) Group Mineral Resource – contained copper Copper Measured Indicated Inferred Total Resource Copper CP3 Tonnes Copper Tonnes Copper Cop
Slide 19: For personal use only
For personal use only