Investor Presentaiton

IMPORTANT NOTICES (1/3) The following disclaimer applies to this investor presentation and you are advised to read this carefully before reading or making any other use of this presentation or any information contained in this presentation. This presentation has been approved by the Board of Directors of Evolution Mining Limited ("Company" or "Evolution" or "EVN"). This presentation has been prepared by and is issued by Evolution and is dated 5 December 2023 in relation to: The Transaction, comprising: Evolution's proposed acquisition of: 100% of the shares in CMOC Metals Holdings Limited a company incorporated under the laws of Hong Kong, ("CMOC Metals"), being the 'seller' under the Triple Flag Streaming Agreement and the assumption of the guarantee provided by CMOC Limited in relation to the Triple Flag Streaming Agreement by Evolution; 100% of the shares in CMOC Mining Pty Limited (the "CMOC Participant"), the entity which holds an 80% Participating Interest in the Northparkes copper-gold mine in New South Wales ("Northparkes Mine") through an unincorporated joint venture with Sumitomo Metal Mining Oceania Pty Ltd ("SMM") and SC Mineral Resources Pty Ltd ("SC") (SMM and SC collectively, the Sumitomo Parties) (the "Northparkes JV"); and an indirect interest in the CMOC Participant's wholly owned subsidiary, CMOC Mining Services Pty Ltd ("CMOC Mining Services"); and the entry into of an associated offtake agreement with IXM S.A. (a related body corporate of CMOC Group Limited) for 100% of the copper concentrates produced from the Northparkes Mine which is attributable to the CMOC Participant's 80% Participating Interest in the Northparkes JV ("Offtake Agreement"), (CMOC Metals and the CMOC Participant and CMOC Mining Services each being "Target Group Members", collectively the "Target Group"); a fully underwritten institutional placement of new ordinary shares in Evolution ("New Shares") to be made to eligible institutional shareholders of Evolution under section 708A of the Corporations Act 2001 (Cth) ("Corporations Act"), as modified by the Australian Securities and Investments Commission ("ASIC") Corporations (Disregarding Technical Relief) Instrument 2016/73 ("Placement"); and a non-underwritten offer of New Shares to eligible Evolution shareholders under a share purchase plan in accordance with ASIC Corporations (Share and Interest Purchase Plans) Instrument 2019/547 ("SPP") (the Placement and SPP together, the "Equity Raising"). Information in relation to Evolution This presentation contains summary information about Evolution and its subsidiaries and their activities which is current as at the date of this presentation. The information in this presentation is of a general background nature and does not purport to be complete or to provide all information that an investor may require when making an investment decision, nor does it contain all the information which would be required in a disclosure document or prospectus prepared in accordance with the requirements of the Corporations Act. It has been prepared by Evolution with due care but no representation or warranty, express or implied, is provided in relation to the accuracy or completeness of the information. Statements in this presentation are made only as of the date of this presentation unless otherwise stated and the information in this presentation remains subject to change without notice. Evolution is not responsible for updating, nor undertakes to update, this presentation. It should be read in conjunction with Evolution's other periodic and continuous disclosure announcements lodged with the Australian Securities Exchange ("ASX"), which are available at www.asx.com.au Investors should note that while Evolution's Mineral Resource and Ore Reserve estimates comply with the JORC Code, they may not comply with the relevant guidelines in other countries. Timetable and Equity Raising Evolution reserves the right to withdraw the Equity Raising or vary the timetable for the Equity Raising without notice. Limitation on information in relation to the Northparkes Mine All information in this presentation in relation to Northparkes Mine - including in relation to production, resources and reserves, costs, financial information and life of mine plans of the Northparkes Mine has been sourced from materials provided by CMOC Group Limited ("CMOC") and its affiliates. Neither Evolution nor CMOC have independently verified such information and no representation or warranty, expressed or implied, is made as to its fairness, accuracy, correctness, completeness or adequacy. CMOC has not prepared this presentation and has not authorised its release. CMOC expressly disclaims any liability in connection with this presentation, and any statement contained in it. Investors should treat any information relating to the Northparkes Mine with caution. Reserves and resources reporting of Evolution and the Northparkes Mine Investors should note that it is a requirement of the ASX listing rules that the reporting of Ore Reserves and Mineral Resources in Australia comply with the Australasian Joint Ore Reserves Committee Code for Reporting of Mineral Resources and Ore Reserves (the "JORC Code"), whereas mining companies in other countries may be required to report their Ore Reserves and/or Mineral Resources in accordance with other guidelines (for example, SEC Industry Guide 7 in the United States). In particular, they do not comply with Item 1300 of Regulation S-K, which governs disclosures of Ore Reserves in registration statements filed with the United States Securities and Exchange Commission. Information contained in this document describing mineral deposits may not be comparable to similar information made public by companies subject to the reporting and disclosure requirements of Canadian or US securities laws. You should not assume that quantities reported as "resources" will be converted to reserves under the JORC Code or any other reporting regime or that Company will be able to legally and economically extract them. Investors should also note that the reporting of resource and reserve estimates for the Northparkes Mine ("CMOC's Estimates") are not reported in accordance with the JORC Code 2012. A Competent Person has not done sufficient work to classify CMOC's Estimates as Mineral Resources and Ore Reserves in accordance with the JORC Code. It is possible that following evaluation and/or further exploration work CMOC's Estimates may materially change and hence will need to be reported afresh under and in accordance with the JORC Code. Nothing has come to Evolution's attention that causes it to question the accuracy or reliability of CMOC's Estimates, but Evolution has not independently validated CMOC's Estimates and therefore is not to be regarded as reporting, adopting or endorsing those estimates. For more information as to CMOC's Estimate, please refer to Evolution's ASX announcement accompanying this investor presentation Evolution MINING 2