Evolution Mining Limited · ASX:EVN
Evolution Mining — Investor Day (September 2026)
25 slides from Evolution Mining's investor day presentation, Sep 15, 2026
Slide 1: ASX Announcement: 2026 Investor Briefing Presentations
Evolution Mining Limited ABN 74 084 669 036 Sydney Office P +61 2 9696 2900 F +61 2 9696 2901 Level 24 175 Liverpool Street Sydney NSW 2000 www.evolutionmining.com.au ASX Announcement 15 September 2026 2026 Investor Briefing Presentations Evolution Mining Limited (ASX: EVN) (Evolution or the Company
Slide 2: Webcast and registration information
Webcast and registration Information As previously announced, a live audio and video webcast of the presentations will be available from 12:30pm – 4:00pm (AEST) today, which can be accessed via the following link: https://webcast.openbriefing.com/evn-id-2026/. A replay will be available to view on E
Slide 3: Business overview
Inspired people creating a premier global gold company Business overview Lawrie Conway – Managing Director and Chief Executive Officer 15 September 2026
Slide 4: Disclaimer
Disclaimer The information in this presentation is current as at 15 September 2026. It is in summary form and is not necessarily complete. It should be read together with the Evolution results for the year ended 30 June 2026. Forward-looking statement These materials prepared by Evolution Mining Lim
Slide 5: Key messages
Key messages Acquired well, unlocking value to improve portfolio quality Delivered consistent growth from continuing assets Focused on margin over ounces Leveraged to copper’s structural demand Significant untapped upside remains across the portfolio 3
Slide 6: Evolution strategic summary
Evolutionstrategic Evolution strategic summary summary Our vision Inspired people creating a premier Our purpose To deliver long-term stakeholder value through global gold company low-cost production in a safe, environmentally and socially responsible way Our strategy To create a business that prosp
Slide 7: +240 koz AuEq growth since FY22
Growth since FY22 to drive high margin growth for the next 5-10yrs ~920 koz AuEq1 ~890 koz AuEq1 Red Lake +12koz 198 Ernest Henry Mungari ~680 weather impact 197 +48koz ~(30)koz AuEq1 Cowal koz AuEq1 +70koz Au Northparkes 115 +82koz AuEq [28kt copper] +28koz Au +240koz AuEq 722 693 565 Production gr
Slide 8: Delivering sector-leading margins through the cycle
Delivering sector-leading margins through the cycle $4,448 Margin expansion driven by: - Cost discipline $3,777 - Northparkes acquisition - Metal prices $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 20
Slide 9: Copper differentiation: significant value for shareholders
Copper differentiation: significant value for shareholders Copper driven by both supply and demand FY26 Revenue split High margin copper assets S&P Global forecasts global copper demand to rise ~50% by 20401 (C1 cost): ~42Mt Cu 22% ~28Mt Cu Copper Ernest Henry USD$0.65/lb Northparkes USD$1.23/lb +50
Slide 10: Copper enhances an already competitive cost base
Copper enhances an already competitive cost base 3,500 3,000 ~2,770 2,500 ~2,755 ~2,325 2,000 ~1,975 1,895 ~1,745 1,717 1,500 ~1,540 1,572 1,450 1,477 1,000 1,259 500 - FY22 FY23 FY24 FY25 FY26 FY27 EVN AISC ($/AuEq) EVN AISC ($/oz) Australian Industry AISC range ($/oz) Evolution remains low cost Se
Slide 11: Value is not just bought … it is delivered after the acquisition
Value is not just bought … it is delivered after the acquisition Percentage repaid Portfolio average return on investment of 18% with 17 years reserve life1 up to 25% 26-50% 60 50-100% 350 100% FY27 gold production guidance (koz) (Mungari, Cowal, Red Acquisition FY26 gold production guidance (koz) (
Slide 12: Value is not just bought … it is delivered after the acquisition
Value is not just bought … it is delivered after the acquisition Percentage repaid Portfolio average return on investment of 18% with 17 years reserve life1 up to 25% 26-50% 60 50-100% 350 100% FY27 gold production guidance (koz) (Mungari, Cowal, Red Acquisition FY26 gold production guidance (koz) (
Slide 13: Cowal: significant cash generation while self-funding growth
Cowal: significant cash generation while self-funding growth Regal E46 Portal Warraga E42 Portal GR Underground: E41W ▪ Potential second Underground underground E41E ▪ Reserve grades are E42: ▪ Stage I cutback ~2x open pit establishes reserve grades E41: Key exploration production base ▪ Exploration
Slide 14: Copper leverage with latent capacity and organic upside: Ernest Henry
Copper leverage with latent capacity and organic upside Ernest Henry Three steps to utilising latent mill capacity (~2.2Mtpa) • Bert project: +~6ktpa copper +~12kozpa gold, ramping from FY29 • Greater Duchess: +~10ktpa copper +~5kozpa gold from ~FY30¹ • Regional exploration upside potential of ~10kt
Slide 15: Copper leverage with latent capacity and organic upside: Northparkes
Copper leverage with latent capacity and organic upside Ernest Henry Northparkes1 Near term mill growth: ~2% recovery uplift (coarse particle flotation) and 0.5Mtpa throughout increase, with 1Mtpa upside from FY28+ E22 + LOM infrastructure: (twin declines and material handling system) support 11Mtpa
Slide 16: Stable cash flow generation with upside potential
Stable cash flow generation with upside potential Mungari Red Lake Stable production profile year-on-year Stable performance quarter-on-quarter Returned to major cash contributor Consistently cash positive Increasing high grade underground production to displace lower open pit ore: Tailings reproces
Slide 17: Balanced long-life portfolio all playing their role
Balanced long-life portfolio all playing their role Significant cash generator with growth Cowal opportunity Ernest Henry Compelling copper growth exposure, backed by latent mill capacity and low-risk organic growth Northparkes Mungari Stable cash flow generation with upside potential Red Lake 15
Slide 18: Summary
Summary Acquired well, unlocking value to improve portfolio quality Delivered consistent growth from continuing assets Focused on margin over ounces Leveraged to copper’s structural demand Significant untapped upside remains across the portfolio 16
Slide 19: Appendix
Appendix
Slide 20: Group gold Mineral Resources at 31 December 2025
Group gold Mineral Resources at 31 December 2025 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 stockpiles, “OP” denot
Slide 21: Group gold Ore Reserves at 31 December 2025
Group gold Ore Reserves at 31 December 2025 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 stockpiles, “OP” denotes op
Slide 22: Group copper Mineral Resources at 31 December 2025
Group copper Mineral Resources at 31 December 2025 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 stockpiles, “OP” den
Slide 23: Group copper Ore Reserves at 31 December 2025
Group copper Ore Reserves at 31 December 2025 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 stockpiles, “OP” denotes
Slide 24: FY27 guidance
FY27 guidance Gold Copper Sustaining Major mine Major project Depreciation & FY27 AISC Exploration production production capital development capital amortisation guidance ($/oz)1 ($M) (koz) (kt) ($M) capital ($M) ($M) ($/oz)2 Group 660 – 730 63 – 70 1,795 – 1,995 265 – 325 440 – 500 570 – 650 130 –
Slide 25: Evolution Mining
Evolution MINING