Evolution Mining FY24 Guidance Update

LONG TERM FUTURE ON SOLID FOUNDATIONS Current state Mill expansion project Future potential 2.0Mtpa processing capacity Gold Production 127,500oz (FY23 Guidance +/-5%) AISC $2,040/oz (FY23 Guidance +/-5%) ✓ Simple plant design ✓ Unlocks regional ore sources ✓ Processing unit costs ~30% lower ✓ Capex ~$250M ✓ Was planned for FY24 with Kundana an enabler 4.2Mtpa nominal processing capacity Pathway to 15 years at ~200kozpa AISC reduction By-18% ~30 month build Key messages 15-year mine life Reduced AISC ~18% lower LOM Production Average: 155kozpa¹ FY27-32: ~200kozpa¹ Conventional mining Three ore sources 1st 5 years Compelling NPV, IRR, & quick payback Feasibility Study confirms compelling investment case 1. See slide 3 of this presentation for information on the Mungari Production Target Note: $ amounts shown in AUD Evolution 【1) Red Lake 2 Mungari 3 Ernest Henry MINING 4 Cowal 16

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