Investor Presentaiton

KEY RISKS - INVESTMENTS Dividends NOT FOR RELEASE OR DISTRIBUTION IN THE UNITED STATES Any future determination as to the payment of dividends by Evolution will be at the discretion of the Directors and will depend on the financial condition of Evolution, future capital requirements and general business and other factors considered relevant by the Directors. No assurance in relation to the continued or future payment of dividends or franking credits attaching to dividends can be given by Evolution. Share market conditions Share market conditions may affect the value of Evolution's quoted shares regardless of Evolution's operating performance. Share market conditions are affected by many factors such as: - general economic outlook; introduction of tax reform or other new legislation; interest rates and inflation rates; commodity prices; foreign exchange markets; changes in investor sentiment toward particular market sectors; the demand for, and supply of, capital; occurrence of pandemics (such as COVID-19); and terrorism, geopolitical conflicts (including hostilities between Ukraine and Russia or in Israel and the Gaza territory) or other hostilities. The market price of shares can fall as well as rise and may be subject to varied and unpredictable influences on the market for equities in general and resource exploration stocks in particular. Neither Evolution nor the Directors warrant the future performance of Evolution or any return on an investment in Evolution. Accounting standards may change Accounting standards may change. This may affect the reported earnings of Evolution and its financial position from time to time. Evolution has previously and will continue to assess and disclose, when known, the impact of adopting new accounting standards in its periodic financial reporting. Force majeure events may occur Acts of terrorism, an outbreak of international hostilities or fires, floods, earthquakes, labour strikes, civil wars and other natural disasters may cause an adverse change in investor sentiment with respect to Evolution specifically or the share market more generally, which could have a negative impact on the value of an investment in Evolution shares. Dilution risk Existing shareholders who do not participate in the Placement or the SPP will have their percentage shareholding in Evolution diluted. Depending on the size of a shareholder's existing holding, a participating shareholder may still be diluted even though they participate in the Placement or the SPP depending on the number of New Shares allocated to them. Evolution MINING 51 5554

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