Slide 1: 2024 Full Year Results
Inspired people creating a premier global gold company 2024 Full Year Results Jake Klein – Executive Chair Lawrie Conway – Managing Director and Chief Executive Officer Barrie van der Merwe – Chief Financial Officer 14 August 2024
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', 'inten
Slide 3: Positioned for success
Positioned for success Higher gold and copper prices Portfolio well positioned Strong balance sheet Team in place Focus and priority on delivery 3
Slide 4: FY24 highlights
FY24 highlights Improvements in all key sustainability metrics Low-cost production 717koz at $1,477/oz Record underlying profit up 135% to $482m High cash margin & cash flow FY25 building on FY24 Deleveraging continuing Gearing down to 25% Improved shareholder returns – Full Year dividend up 75% 4
Slide 5: Sustainability – integrated into everything we do
Sustainability – integrated into everything we do 10.7 TRIF1 down Health, Safety 8.8 28% and Wellbeing 7.7 FY22 FY23 FY24 FY22 FY23 FY24 Committed to reducing -7.0% -9.4% -14.3% carbon -30% footprint Emissions reduction 2030 target Hope Project, Kalgoorlie ▪ Support for women and children Community
Slide 6: High margin, high cash generation to continue in FY25
High margin, high cash generation to continue in FY25 Production guidance Operating mine cash flow ($M) ▪ Gold: 710,000 – 780,000 ounces 1,805 ▪ Copper: 70,000 – 80,000 tonnes 1,540 Cost guidance FY24 actual3 FY25 guidance (midpoint at spot)4 ▪ All-in Sustaining Cost: $1,475 – $1,575/oz1 High cash g
Slide 7: Consistent delivery in FY25
Consistent delivery in FY25 FY25 FY25 Cashcash flow sensitivities Flow Sensitivities A$M ($M) Production Operating costs (+/-5%) 95 – 105 ▪ Full year of Northparkes ▪ Continued ramp up at Cowal underground Copper price (-/+ $1,100/t) 75 – 85 ▪ Higher production at Red Lake Gold price (-/+ $100/oz) 6
Slide 8: Record financial performance
Record financial performance Financials Units FY23 FY24 Change Statutory profit after tax $M 164 422 158% Underlying profit after tax $M 205 482 135% EBITDA $M 839 1,428 70% Underlying EBITDA $M 904 1,513 67% EBITDA margin % 38% 47% 24% Operating mine cash flow $M 944 1,539 63% Net mine cash flow $M
Slide 9: Delivering improved margins
Delivering improved margins Focus on margin over ounces Cash flow ($M) ▪ Significant margin and cash growth 1,539 ▪ Banking upside of high metal prices 944 583 ▪ Cowal: Consistent high cash contributor 367 36 (116) ▪ Ernest Henry: Reliable delivery and cash generation Group cash flow Net mine cash f
Slide 10: Increasing shareholder returns as we deleverage
Increasing shareholder returns as we deleverage Dividends per share & gearing Shareholder returns 17.0 16 15.0 30% ▪ 23rd consecutive dividend 12 33% 13.0 25% 28% 25% 20% ▪ Fully franked 5 cents per share – up 150% 11.0 9.0 15% 6 710% ▪ Record date: 30 August 2024 7.0 15% 4 5.0 5% ▪ Payment date: 4
Slide 11: Summary
Summary Record FY24 financial performance High margin cash generation to continue Well set up to deliver in FY25 Long life, high return portfolio 11
Slide 12: Appendix FY25 guidance
Appendix FY25 guidance
Slide 13: FY25 guidance
FY25 guidance Gold Copper Sustaining Major mine Major project Depreciation & AISC FY25 guidance production production capital development capital amortisation ($/oz)1,2 (koz) (kt) ($M)3 capital ($M)4 ($M)5 ($/oz)2,6 Group 710 – 780 70 – 80 1,475 – 1,575 215 – 270 150 – 200 365 – 430 900 – 1,000 Cowa
Slide 14: Strong earnings growth
Strong earnings growth ▪ Acquisition of Northparkes in December 2023 ▪ Higher metal production and prices ▪ Cowal underground production commencement Net profit after tax ($M) Stream Costs NPO 48 Cowal UG 288 154 42 74 112 33 89 58 231 589 60 482 422 164 205 Statutory Profit Gold Revenue By-Product
Slide 15: Appendix Mineral Resources and Ore Reserves
Appendix Mineral Resources and Ore Reserves
Slide 16: 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 17: Group gold Ore Reserves at December 2023
Group gold Ore Reserves at 31 December 2023 Gold Proved Probable Total Reserve Competent Cut-off Gold Grade Gold Metal Tonnes Gold Grade Gold Metal Tonnes Gold Grade Gold Metal Person10 Project Type Tonnes (Mt) (g/t Au) (g/t) (koz) (Mt) (g/t) (koz) (Mt) (g/t) (koz) Cowal1 Stockpiles 0.45g/t Au 40.4
Slide 18: 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 19: Group copper Ore Reserves at December 2023
Group copper Ore Reserves at 31 December 2023 Copper Proved Probable Total Reserve CP5 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 Henry1 Underground 0.50 – 0.75% CuEq 24.6 1.
Slide 20: Evolution Mining
Evolution MINING