Slide 1: Inspired people creating a premier global gold company
Inspired people creating a premier global gold company 2022 FULL YEAR FINANCIAL RESULTS Jake Klein – Executive Chair Lawrie Conway – Finance Director and CFO 18 August 2022 1
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: Sustainability
SUSTAINABILITY Concerted focus on health and safety including psychological safety Managed through COVID-19 which did impact operational performance Progress on Net Zero commitment including ~7% improvement in emissions intensity Committed to our ‘Net Zero’ target and supporting our local co
Slide 4: Highlights
HIGHLIGHTS Acquired full Mungari district PORTFOLIO Mt Carlton 1 TRANSFORMED ownership of consolidated for divested Ernest Henry first time SECTOR Strong EBITDA FY22 Operating FY22 AISC1 Margin Mine Cash Flow 2 LEADING COST $1,259/oz POSITION 44% (US$914/oz)2 $893M Cowal POSITIONED Red Lake Five gro
Slide 5: Delivering Value
DELIVERING VALUE FY23 EXPLORATION BUDGET $62M Mineral Resource growth since inception (Moz)2 COST OF ADDING MINERAL RESOURCES $35-40/oz 26.4 29.6 14.0 14.2 14.2 14.7 15.2 6.8 5.4 5.0 Dec Dec Dec Dec Dec Dec Dec Dec Dec Dec 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 COST OF ADDING Ore Reserve
Slide 6: Financial Highlights
FINANCIAL HIGHLIGHTS Financials Units FY22 FY21 Change Statutory Profit After Tax $M 323.3 345.3 (6%) Underlying Profit After Tax $M 274.7 354.3 (22%) EBITDA $M 898.8 914.2 (2%) EBITDA Margin % 44% 49% (11%) Operating Mine Cash Flow $M 893.3 937.3 (5%) Capital Investment $M 606.4 379.8 60% Group Cas
Slide 7: Net Profit
NET PROFIT Increased revenue from higher gold and copper prices and Ernest Henry copper volume from 100% acquisition Cost increases due to mix of acquisitions, increased activities and higher input costs Asset acquisitions added $250M: Ernest Henry ($146M) and Kundana at Mungari ($104M) Cowa
Slide 8: Cost Drivers
FY22 Key Cost Drivers COST DRIVERS Other Royalties 7% 3% No material change in cost drivers Diesel 6% Employee Labour Labour comprises ~50% of cost base Power 7% 28% Top 7 cost types comprise 93% of total costs Reagents 7% Labour costs expected to increase 5 – 6% in FY23 Contract Maintenance
Slide 9: Cash Flow and Margins
CASH FLOW AND MARGINS Significant Group cash generation and margin EBITDA ($M) EBITDA of $899m EBITDA margin strong at 44% Operating cash flow margin of $1,393/oz Disciplined allocation of cash to capital projects Immediate benefit from Ernest Henry acquisition 465 914 EBITDA in H2 of
Slide 10: Dividends and Debt
DIVIDENDS AND DEBT Cumulative Dividends Declared ($M) FY22 Final Dividend Fully franked 3 cents per share (~$55M) 1,053 Included proceeds from asset divestments and 943 732 outlook for business 459 298 Over $1 billion returned to shareholders 7 21 43 87 171 FY13 FY14 FY15 FY16 FY17 FY18 FY19
Slide 11: Summary
SUMMARY HIGH MARGIN PORTFOLIO 19 CONSECUTIVE DIVIDENDS TOTALLING OVER $1 BILLION INVESTMENT GRADE BALANCE SHEET WELL POSITIONED PRODUCTION GROWTH OF ~25% BY FY24 11
Slide 12: Appendix
APPENDIX
Slide 13: Sustainability Principles
SUSTAINABILITY PRINCIPLES The objective of our sustainability efforts is to deliver long-term stakeholder value through safe, low-cost gold production in an environmentally and socially responsible manner Be an employer of choice Demonstrate robust risk Contribute positively to Actively manage clima
Slide 14: FY23 Guidance & FY24 Outlook
FY23 GUIDANCE & FY24 OUTLOOK Production AISC $/oz Sustaining Major FY23 Guidance (+/-5%) (+/-5%) Capital Capital Group 720,000 $1,240 $190 - $240M $530 - $600M Cowal 275,000 $1,250 $40 - $50M $325 - $360M Ernest Henry 82,500 ($2,600) $65 - $80M $35 - $45M Red Lake 160,000 $1,880 $50 - $60M $130 - $1
Slide 15: FY23 Guidance: D&A
FY23 GUIDANCE: D&A Depreciation & Amortisation FY23 Guidance $/oz (+/- 5%) Group 660 Cowal 350 Ernest Henry 2,000 Red Lake 300 Mungari 700 Mt Rawdon 1,000 Corporate 5 15
Slide 16: Evolution Dec 2021 Gold Mineral Resources
EVOLUTION 31 DEC 2021 GOLD MINERAL RESOURCES ( W I T H E R N E S T H E N R Y 3 0 J U N E 2 0 2 2 M I N E R A L R E S O U R C E U P D AT E ) Gold Measured Indicated Inferred Total Resource Gold Gold Gold Gold Gold Gold Gold Gold CP6 Tonnes Tonnes Tonnes Tonnes Project Type Cut-Off Grade Metal Grade M
Slide 17: Evolution Dec 2021 Gold Ore Reserves
EVOLUTION 31 DEC 2021 GOLD ORE RESERVES Gold Proved Probable Total Reserve Tonnes Gold Gold Metal Tonnes Gold Grade Gold Metal Tonnes Gold Gold Metal CP7 Project Type Cut-Off (Mt) Grade (g/t) (koz) (Mt) (g/t) (koz) (Mt) Grade (g/t) (koz) Cowal1 Open pit 0.45 23.9 0.46 356 99.7 0.99 3,164 123.6 0.89
Slide 18: Evolution Dec 2021 Copper Resources & Reserves
EVOLUTION 31 DEC 2021 COPPER RESOURCES & RESERVES ( W I T H E R N E S T H E N R Y 3 0 J U N E 2 0 2 2 M I N E R A L R E S O U R C E U P D AT E ) Group Copper Mineral Resource Statement Copper Measured Indicated Inferred Total Resource Copper Copper Copper Copper CP3 Tonnes Copper Tonnes Copper Tonne
Slide 19: Evolution Mining
Evolution MINING