Slide 1: March 2022 Quarterly Results
Inspired people creating a premier global gold company For personal use only MARCHCLICK 2022 QUARTERLY RESULTS TO EDIT MASTER TITLE STYLE Jake Klein – Executive Chairman Lawrie Conway – Finance Director and CFO Glen Masterman – VP Discovery & BD 21 April 2022 1
Slide 2: Forward Looking Statement
FORWARD LOOKING STATEMENT For personal use only 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
Slide 3: March Quarter Key Points
MARCH QUARTER KEY POINTS For personal use only AISC $990/oz Operating Mine Net Mine SECTOR 18th consecutive (US$717/oz) Cash Flow Cash Flow 1 LEADING LOW $125M dividend $269M AISC 27% 33% 135% $55M Red Lake Outstanding performance at Ernest Henry transformation PORTFOLIO 2 TRANSFORMATION on track AI
Slide 4: Ernest Henry
ERNEST HENRY Immediate benefits from Ernest Henry acquisition For personal use only ▪ Record cash flows1 ▪ Operating cash flow of $184.7M ▪ Net cash flow of $173.8M ▪ Increased exposure to copper2 ▪ Copper production more than tripled to 13,352t ▪ Exceptionally low AISC Gold production and AISC Copp
Slide 5: Red Lake: Positive trend in quarterly metrics
Positive trend in quarterly metrics RED LAKE Improvement across all metrics quarter on quarter For personal use only ▪ Gold production up 67% to 33,056oz >1,200m/month ▪ Production expected to exceed 40,000oz in June 2022 quarter for 6 months ▪ Development improvements ▪ Six consecutive months above
Slide 6: Cowal
COWAL ▪ Resilient performance delivered 53,321oz For personal use only ▪ Significant rainfall early in the quarter ▪ Over 25% of workforce tested positive to COVID-19 with additional time lost due to workers isolating as close contacts ▪ Underground project on plan and budget ▪ Primary mining and di
Slide 7: Mungari
MUNGARI ▪ Gold production 33,296oz For personal use only ▪ Grade processed increased by 10% ▪ Benefit of a larger processing campaign for the East Kundana Joint Venture ▪ COVID-19 being well managed post border changes ▪ No major impacts to date ▪ Slight increase in cases in April ▪ Integration of t
Slide 8: Mt Rawdon
MT RAWDON ▪ Quarter production impacted by significant rainfall in For personal use only February and March ▪ Managing some instability in north wall ▪ Restricted access to higher grade ore in the pit ▪ Crusher shutdown (9 days) successfully completed ▪ Pumped Hydro Electricity opportunity progressi
Slide 9: Discovery Highlights
DISCOVERY HIGHLIGHTS For personal use only Cue Joint Venture (EVN earning 75%) Location plan of drill hole ▪ Recent diamond drilling identified additional locations at Cue during the mineralised lodes on the West Island trend March quarter ▪ Aircore results extended West Island footprint to 2.1km Mu
Slide 10: Financial Highlights
FINANCIAL HIGHLIGHTS ▪ Strong quarter of cash generation For personal use only ▪ Group operating mine cash up 33% to $269M ▪ Group net mine cash flow up 135% to $125M ▪ Group capital guidance unchanged ▪ Excellent cost position ▪ AISC margin of 60% (up 38% from Dec quarter) ▪ Benefits of Ernest Henr
Slide 11: Summary
SUMMARY For personal use only Sector leading AISC below A$1,000/oz for the quarter Exceptional contribution from Ernest Henry Red Lake transformation progressing well Resilience demonstrated managing extreme rainfall and COVID-19 11
Slide 12: Appendix
For personal use only APPENDIX
Slide 13: March Quarter Production Summary
MARCH QUARTER PRODUCTION SUMMARY March 2022 quarter Units Cowal Ernest Henry Red Lake Mungari Mt Rawdon Group UG lat dev – capital m 1,613 490 2,424 1,233 0 5,759 UG lat dev – operating m 0 1,167 1,495 1,016 0 3,678 For personal use only Total UG lateral development m 1,613 1,657 3,919 2,249 0 9,437
Slide 14: FY22 Year to Date Production Summary
FY22 YEAR TO DATE PRODUCTION SUMMARY FY22 YTD Units Cowal Ernest Henry Red Lake Mungari Mt Rawdon Mt Carlton Group UG lat dev - capital m 3,702 1,940 7,265 3,932 0 465 17,303 UG lat dev - operating m 0 3,443 3,588 3,596 0 59 10,687 For personal use only Total UG lateral development m 3,702 5,383 10,
Slide 15: Evolution Mining
For personal use only Evolution MINING