Slide 1: Annual General Meeting
eronlv For personel ts ANNUAL GENERAL Tic evolut ion MINING
Slide 2: Forward looking statements
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”, “intend”, “plan”, “esti
Slide 3: Cautionary statements on Exploration Targets and Inferred Resources
For personal use only Cautionary statement concerning the proportion of Exploration Targets1 Of Evolution’s Production Outlook, 2% is comprised of Exploration Targets. The potential quantity and grade of this exploration target is conceptual in nature and there has been insufficient exploration to d
Slide 4: Overview
OVERVIEW BRYAN O’HARA = GM INVESTOR RELATIONS ARLIZID if 7e9c (Lae
Slide 5: Evolution at a glance
Australian dollar gold (per ounce) 2,000 For personal use only A$ gold price 1,750 ASX code EVN Market capitalisation(1) A$5.4B 1,500 Average daily turnover(2) A$32M Evolution reserve price assumption6 Net debt(3) A$78M 1,250 292,100oz at Evolution All-in Cost7 Forward sales(4) A$1,758/oz 1,000 Jun-
Slide 6: Global leader in low cost production
GLOBAL LEADER IN LOW COST PRODUCTION All-in Sustaining Costs 2018E (US$/oz) Source: RBC Capital Markets, Company Filings
Slide 7: For personal use only
@ For personal use_only
Slide 8: FY18 financial highlights
For personal use only AISC AIC Low cost A$797/oz 12% 4% A$1,033/oz High EBITDA AIC margin 53% 8% A$612/oz 8% margin margin Group Cash flow High cash cash flow per share generation 4% 2% A$396M 23 cents Strong Gearing Dividends balance 2.7% 83% 7.5 cents 50% sheet 8
Slide 9: Production and AISC outlook
For personal use only ▪ Production profile of >700koz for next 3 years Production outlook (koz) 11 22 ▪ Cowal plant expansion adds 5koz in FY20, 10-15koz 770 775 765 in FY21 and 20koz in FY22 and beyond ▪ Consistent contribution across the portfolio 833 780 720 725 710 ▪ Outlook is a base case with
Slide 10: Asset quality
Bubble size represents midpoint of FY19 production use only guidance Asset Quality 30% on Invested Capital (%) 25% Mt Carlton Cowal Ernest 20% Mungari Henry personal Cracow 15% Mt Rawdon 10% For Return 5% 0% 0 2 4 6 8 10 12 14 Reserve Life (Years) 10
Slide 11: Sustainability and Operations
SUSTAINABILITY AND OPERATIONS BOB FULKER - CHIEF OPERATING OFFICER
Slide 12: Sustainability
▪ Inaugural Sustainability Report in 2018 For personal use only Total Recordable Injury Frequency Lost Time Injury Frequency ▪ Driving a safety culture where our people do the right thing 24.4 (LTIF) (TRIF) because they want to, not because they have to 19.9 5.3 ▪ 31% reduction in Total Recordable I
Slide 13: Ore Reserve growth
For personal use only Since 2014: ▪ Ore Reserves increased by 222% ▪ Reserves per share increased by 36% ▪ Reserve life increased by 88% to 9.6 years ▪ Conservative gold price assumption for Ore Reserves of A$1,350 (US$1,050) per ounce FY18 production and AISC. Bubble size represents expected FY19 p
Slide 14: Innovation and technology
For personal use only Cyanide alternatives Coil tube drilling In-mine recovery Process water quality Dewatering Technologies Robotic process automation Real time drill improvements InSAR Monitoring Hands free voice recognition sensors/instrumentation Pre-concentration Digital Twins In Situ Recovery
Slide 15: For personal use only
For personal use only
Slide 16: People
▪ People are critical to our success For personal use only ▪ Targeted approach with inclusion and diversity ▪ We continue to build Evolution’s reputation in the marketplace ▪ We have a highly engaged and capable Our 2017 Graduates at the Mt Rawdon operation workforce, who are Acting Like Owners ▪ We
Slide 17: Business Development
BUSINE -DEVELOPM AARON COLLERAN - VP BUSINE Wa
Slide 18: Improve portfolio quality
For personal use only Improve portfolio quality ▪ The rules are simple: ▪ Improve the quality of the portfolio ▪ Logical ▪ Value accretive ▪ Opportunistic ▪ But delivery is not simple, it requires the ability to: ▪ Recognise the opportunity ▪ Execute the transaction ▪ Integrate acquired assets Remai
Slide 19: Portfolio changes, operating cash flow and AISC
For personal use only Group AISC Impact April 2015 Mungari acquisition A$30/oz May 2015 Cowal acquisition A$100/oz August 2016 Ernest Henry economic interest acquisition A$100/oz August 2016 Pajingo divestment A$15/oz September 2017 Edna May divestment A$50/oz Operating cash flow (A$M) Gro
Slide 20: Delivering on Discovery
al useszont DELIVERING‘: ON DISCOVERY GLEN MASTERMAN -
Slide 21: Exploration across the portfolio
For personal use only Connors Arc Cowal Mungari E42 OP Regional Cowal 300koz Cowal Mungari Drummond Stage H OP + UG Basin FTL Cracow Cowal UG Cowal Mungari Plant Regional 150koz Mt Exp Carlton Tennant Mt OP Creek Carlton Mt Marsden UG Rawdon Ernest OP Henry Ernest >1200m Henry UG Cracow Regional 21
Slide 22: Cowal Dalwhinnie Lode discovery
2 kilometres For personal use only Planned exploration decline 10.5(6.8)@11.7 1535DD346 Stage G 1.6@58.2 current surface 1535DD324 MSO shapes 7.5@10.0 Stage H final pit shell 1535DD330 3.0(2.3)@69.9 1535DD331H Dalwhinnie sill 500 metres Area of recent infill drilling & Discovery of Dalwhinnie Lode D
Slide 23: Cowal drill intersections
For personal use only Note: Drill hole intersections are extracted from the announcement entitled “Cowal Plant Expansion, Discovery Success and Outlook Upgrade” released to the ASX on 22 November 2018 and available to view at www.evolutionmining.com.au. The Company confirms that it is not aware of a
Slide 24: Evolution Mining
For personal use only Evolution Mining 2
Slide 25: A bright future
use gniy x A. nal, FOr perso A BRIGHT FUTURE Operations Continued reliable delivery Intense focus on cost improvements Developing innovative new technology Discovery Upgrading our exploration pipeline Cowal success to add significant value A$40 - 55M exploration investment in FY19 Business Developme
Slide 26: Evolution Mining
For personal use only Evolution MIINTINE
Slide 27: FY19 guidance
For personal use only All-in Sustaining Gold Production All-in Sustaining Cost FY19 Guidance Cost* (oz) (US$M) (A$/oz) Cowal 240,000 – 250,000 975 – 1,075 730 – 805 Mungari 125,000 – 135,000 1,050 – 1,100 790 – 825 Mt Carlton 95,000 – 105,000 670 – 720 505 – 540 Mt Rawdon 95,000 – 105,000 1,000 – 1,
Slide 28: Major project capital items
For personal use only Major project capital items ◼ Cowal: Sustaining Major Capital FY19 Guidance Capital ◼ Stage H cut-back (A$70 – A$75M) (A$M) (A$M) ◼ Float Tails Leach (A$6 – A$9M) ◼ Other process plant projects (A$29 – A$36M) Cowal 55 – 60 105 – 120 ◼ Mt Carlton Mungari 10 – 15 0–5 ◼ Open pit m
Slide 29: Depreciation, amortisation and discovery guidance
For personal use only Depreciation & Fair Value Resource Discovery FY19 Guidance Amortisation* Unwind Definition** (A$M) (A$/oz) (A$M) (A$M) Cowal 430 – 480 10 – 15 3–7 15 – 20 Mungari 500 – 550 10 – 15 2–4 15 – 20 Mt Carlton 580 – 630 0–1 1–2 Mt Rawdon 550 – 600 0–1 0–1 Cracow 320 – 370 3–7 1–3 Ern
Slide 30: Group Gold Mineral Resources – December 2017
For personal use only Group Gold Mineral Resources – December 2017 Gold Measured Indicated Inferred Total Resource Gold Gold Gold Gold Gold Gold Gold Gold Tonnes Tonnes Tonnes Tonnes CP3 Project Type Cut-Off Grade Metal Grade Metal Grade Metal Grade Metal (Mt) (Mt) (Mt) (Mt) (g/t) (koz) (g/t) (koz)
Slide 31: Group Gold Ore Reserves – December 2017
For personal use only Group Gold Ore Reserves – December 2017 Gold Proved Probable Total Reserve Gold Gold Gold Gold Gold Gold Tonnes Tonnes Tonnes CP3 Project Type Cut-Off Grade Metal Grade Metal Grade Metal (Mt) (Mt) (Mt) (g/t) (koz) (g/t) (koz) (g/t) (koz) Cowal1 Open pit 0.4 46.64 0.70 1,049 69.
Slide 32: Copper Mineral Resources and Ore Reserves
For personal use only Copper Measured Indicated Inferred Total Resource Copper Copper Copper Copper Copper Copper Copper Copper Cut- Tonnes Tonnes Tonnes Tonnes CP3 Project Type Grade Metal Grade Metal Grade Metal Grade Metal Off (Mt) (Mt) (Mt) (Mt) (%) (kt) (%) (kt) (%) (kt) (%) (kt) Marsden Total