Evolution Mining FY24 Guidance Update

MT RAWDON PUMPED HYDRO A STRATEGIC ASSET 1 Evolution MINING Townsville Mt Rawdon Brisbane When energy demand is high and renewable is low, water runs downhill from the upper reservoir. When renewable generation is high and demand is low the process reverses and the water is pumped back to the upper reservoir. 2 Upper reservoir Pump turbine and generator Water runs through the pump turbine which turns the generator to create generate hydroelectric power. Pump Power to grid turbine Water flow Old mine pit Mt Rawdon pit (Lower reservoir) 4818 3 201 1884 64 The water is captured in the lower reservoir to be moved uphill later by the reversible pump turbine in a repeated cycle Lowest risk and cost of capacity pumped hydro project in Australia 38

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