Slide 1: Inspired people creating a premier global gold company
Inspired people creating a premier global gold company 2024 HALF YEAR FINANCIAL RESULTS & 2023 MINERAL RESOURCE AND ORE RESERVE Jake Klein – Executive Chair Lawrie Conway – Managing Director and Chief Executive Officer Barrie van der Merwe – Chief Financial Officer Glen Masterman – Vice President Di
Slide 2: Forward Looking Statement
FORWARD LOOKING STATEMENT These materials prepared by Evolution Mining Limited (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', 'plan', '
Slide 3: Agenda
AGENDA 1 Highlights 2 Business Update 3 Financials 4 Mineral Resource and Reserve Update 3
Slide 4: Highlights
HIGHLIGHTS SIGNIFICANT CASH HIGH QUALITY RESOURCES & 1 GENERATION 2 3 PORTFOLIO RESERVES… INCREASING AND GROWING $203M Mineral Resources1 Net mine cash flow 136% Long life, low cost, 32.7Moz Au 8% high margin assets $158M 4.1Mt Cu 134% Underlying NPAT 54% Underlying EBITDA Ore Reserves $573M 28% Ave
Slide 5: Growing Mineral Inventory per Share
GROWING MINERAL INVENTORY PER SHARE 18 2.5 Mineral Resources growth – gold1 (oz/’000 shares) ▪ Discovering ounces at less than A$50/oz of gold 17.2 2.2 Mineral Resources growth – copper 16 (t/’000 shares) 2.0 14 1.5 12 10 9.6 1.0 8 0.5 6 0.1 4 -0.1 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2
Slide 6: Business Update
BUSINESS UPDATE ◼ Group Guidance ▪ Production in the range: 789koz Au (±5%) & 62.5kt Cu (±5%) ▪ AISC in the range: A$1,340/z (±5%) ▪ Remain on track post January performance ◼ March quarter ▪ Major planned semi-annual plant shutdowns - Cowal and Ernest Henry ▪ Cowal UG on track for commercial produc
Slide 7: Business Update
BUSINESS UPDATE ◼ Red Lake ▪ Decision taken in January to change plan to deliver improved cash position ▪ Focus on margin, reliability, and productivity improvements ▪ January performance on plan ▪ Production step up in March and June quarters ◼ Projects and capital ▪ Mungari 4.2 project on schedule
Slide 8: Northparkes
NORTHPARKES Acquisition Integration Positive start Generated cash ✓ Positive engagement and delivered to Completed in with external plan in the first December stakeholders two months (post stream commitment) ✓ New experienced Working capital site GM started MROR reported – JORC code aligned adjustme
Slide 9: Financial Highlights
FINANCIAL HIGHLIGHTS Financials Units H1 FY24 H1 FY23 Change Statutory Profit after tax $M 97 101 (4%) Underlying Profit after tax $M 158 103 54% Underlying EBITDA1 $M 573 446 28% Underlying EBITDA Margin % 43% 39% 10% Capital Investment $M 314 390 (19%) Net Mine Cash Flow $M 203 86 136% Gearing % 2
Slide 10: Cashflow Momentum
Major capital ($/oz produced) CASHFLOW MOMENTUM 921 723 ▪ Capital intensity is reducing ▪ Major capital per ounce 22% lower FY23 1H FY24 ▪ Cowal underground commercial production – Q4 AIC Margin ($/oz) ▪ Capital guidance unchanged 600 ▪ AIC margin increased 3.5 times 173 ▪ Lower capital expenditure
Slide 11: Dividends and Debt
Cumulative Dividends (A$M) DIVIDENDS AND DEBT ▪ FY24 Interim Dividend ▪ Fully franked 2.0 cents per share (~$39M) 1,128 1,168 1,053 ▪ Payment date: 5 April 2024 732 943 ▪ Record date: 28 February 2024 7 21 43 87 171 298 459 ▪ Balance Sheet FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24
Slide 12: Growing Resources and Reserves
GROWING RESOURCES AND RESERVES 1 Scale, longevity and a diverse portfolio with copper differentiation ▪ Mineral Resources increased 8% to 32.7Moz of gold and 134% to 4.1Mt of copper ▪ Ore Reserves increased 15% to 11.4Moz of gold and 100% to 1.3Mt of copper GOLD COPPER Mineral Resource (Moz Au) Ore
Slide 13: Improving Tier Portfolio
IMPROVING TIER 1 PORTFOLIO 1 Through targeted acquisitions and exploration success December Cowal Ernest Mungari Red Mt Northparkes December December 2022 Ernest Henry Marsden Northparkes December 2022 Henry Lake Rawdon 2023 Resource 2023 Resource Resource Resource December Cowal Ernest Mungari Red
Slide 14: Summary
SUMMARY CASHFLOW GENERATION INCREASING HIGH-QUALITY RESOURCES & RESERVES IMPROVING BALANCE SHEET AND LIQUIDITY FOCUS, DELIVERY, PREDICTABILITY 14
Slide 15: Appendix
Evolution MINING — ae ON ae —
Slide 16: Underlying NPAT up 54%
UNDERLYING NPAT UP 54% ◼ Realised gold price up 16% to $3,000/oz ◼ Higher operational activity levels and planned, well managed escalation impacting cost ◼ Inventory movement – Red Lake concentrate sales and Mount Rawdon stockpile milling – additional revenue and cash flow Net Profit After Tax (A$M)
Slide 17: Cost Drivers
FY24 AISC Sensitivities (A$/oz) FY24 Cash Flow Sensitivities COST DRIVERS Op Costs (+/-5%) 105 - 115 Op Costs (+/- (A$M) 82 - 88 5%) ◼ Cost management a key focus Cu Price (+/- A$1,100/t) 85 - 95 Au Price (-/+ 72 - 77 A$100/oz) ◼ Guidance adequately captures current inflation Cu Price (-/+ ◼ Benefit
Slide 18: 10 Years+ Targeted Endowment Growth
10YRS+ TARGETED ENDOWMENT GROWTH Group Mineral Resources growth contained gold (koz) Group Mineral Resources growth contained copper (kt) Divestments Divestments Growth Depletion Growth Depletion Acquisitions Acquisitions Evolution Evolution Nov 2011 Evolution Evolution Dec 2023 Dec 2023 Nov 2011 Gr
Slide 19: 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 20: Group Gold Ore Reserves at December 2023
GROUP GOLD ORE RESERVES AT 31 DECEMBER 2023 Gold Proved Probable Total Reserve Competent Cut-off Tonnes Gold Gold Metal Tonnes Gold Grade Gold Metal Tonnes Gold Gold Metal Project Type Person10 (g/t Au) (Mt) Grade (g/t) (koz) (Mt) (g/t) (koz) (Mt) Grade (g/t) (koz) Cowal1 Stockpiles 0.45g/t Au 40.4
Slide 21: 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 (Mt) Metal (kt) (Mt) Grade (%) Metal (kt) (Mt) Grade (%) Metal (kt) (Mt) Grade (%) M
Slide 22: Group Copper Ore Reserves at December 2023
GROUP COPPER ORE RESERVES AT 31 DECEMBER 2023 Copper Proved Probable Total Reserve CP5 Tonnes Copper Copper Tonnes Copper Copper Tonnes Copper Copper Project Type Cut-Off (Mt) Grade (%) Metal (kt) (Mt) Grade (%) Metal (kt) (Mt) Grade (%) Metal (kt) Ernest Henry1 Underground 0.50 – 0.75% CuEq 24.6 1.
Slide 23: Evolution Mining
Evolution MINING