Slide 1: Inspired people creating a premier global gold company
Inspired people creating a premier global gold company For personal use only Diggers & Dealers Lawrie Conway, Managing Director and Chief Executive Officer 3 August 2026
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: Caring for our most important asset
Caring for our most important asset ~30% of workforce For personal use only FIFO & DIDO ~50% annual growth in employee assistance calls ~⅔ calls related to personal issues 3 All data show in this slide is as at FY26. 3
Slide 4: The world order is changing
The world order is changing…. Long term gold price forecast up Structural not cyclical: by ~100% in 2 years • Precious metal prices increasingly reflect shifts away For personal use only $3,650 from globalisation and a changing world order (AUD$5,224)/oz $5.40 $2,450 Central bank buying (AUD$17,100/
Slide 5: Confidence is eroding, strategic allocation has changed
Confidence is eroding, strategic allocation has changed Central Banks Capital Allocators Governments For personal use only Gold vs US Treasuries Central Bank gold purchases (t)1,2 Sovereign debt remains elevated (% of international reserves)3 1200 60% Hundreds Gold holdings US Treasuries holdings 20
Slide 6: The headlines change, the environment doesn't
The headlines change, the environment doesn’t For personal use only Different events. Similar responses. Sovereign debt 2020 2022 2024 2025 2026 Geopolitical stress Covid-19 Ukraine war Inflation Trade Middle East shock fragmentation conflict Central Banks gold demand 6
Slide 7: A high margin business is a safe bet in these times
A high margin business is a safe bet in these times $4,448 For personal use only $3,777 $3,505 $2,728 $1,713 $1,231 $1,154 $1,165 $1,142 $848 $836 $1,293 $732 $583 $1,026 $1,064 $973 $453 $949 $673 $652 $599 $527 $383 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026E Industry AISC margin
Slide 8: Copper differentiation: significant value for shareholders
Copper differentiation: significant value for shareholders FY26 Revenue split High margin copper assets (C1 cost): For personal use only 1,704 22% 1,463 Copper Ernest Henry USD$0.65/lb 1,316 Northparkes USD$1.23/lb 78% 908 Gold 6.34 769 (spot) Projects to consume 3Mtpa+ latent mill capacity or furth
Slide 9: Investment to further enhance portfolio quality
Investment to further enhance portfolio quality Asset Project IRR For personal use only Cowal OPC1 34% 81% 115% E48 SLC2 77% 51% 128% Northparkes Coarse Particle Flotation2 23% 20% 43% E22 block cave2 28% 10% 38% Ernest Henry Bert2 23% 25% 48% Base case Upside price Evolution Group 18% Group average
Slide 10: Mungari: Courage to invest, higher returns now coming
Mungari: Courage to invest, higher returns now coming For personal use only 10
Slide 11: Why Evolution?
Why Evolution? $1,958/oz Record Group cash flow margin For personal use only in FY26 (33%) Increase in group ~3 fold production1 18% ROI for current assets, all acquired since 2015 ~17 years Portfolio Ore Reserve mine life2 43% Increase in gold Ore Reserves per share3 Executing a consistent strategy
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 2025
Group gold Mineral Resources at 31 December 2025 For personal use only Data for tonnes and metal reported to two significant figures to reflect appropriate precision and may not sum precisely due to rounding. Data for grades are reported to two decimal places. “UG” denotes underground, “SP” denotes
Slide 15: Group gold Ore Reserves at December 2025
Group gold Ore Reserves at 31 December 2025 For personal use only Data for tonnes and metal reported to two significant figures to reflect appropriate precision and may not sum precisely due to rounding. Data for grades are reported to two decimal places. “UG” denotes underground, “SP” denotes stock
Slide 16: Group copper Mineral Resources at December 2025
Group copper Mineral Resources at 31 December 2025 For personal use only Data for tonnes and metal reported to two significant figures to reflect appropriate precision and may not sum precisely due to rounding. Data for grades are reported to two decimal places. “UG” denotes underground, “SP” denote
Slide 17: Group copper Ore Reserves at December 2025
Group copper Ore Reserves at 31 December 2025 For personal use only Data for tonnes and metal reported to two significant figures to reflect appropriate precision and may not sum precisely due to rounding. Data for grades are reported to two decimal places. “UG” denotes underground, “SP” denotes sto
Slide 18: For personal use only
For personal use only