Evolution Mining : Ernest Henry Site Visit Presentation

ERNEST HENRY SITE VISIT

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24 March 2022

FORWARD LOOKING STATEMENT

These materials prepared by Evolution Mining Limited (or "the Company") include forward looking statements. Often, but not always, forward looking statements onlycan generally be identified by the use of forward looking words such as "may", "will", "expect", "intend", "plan", "estimate", "anticipate", "continue", and "guidance",

or other similar words and may include, without limitation, statements regarding plans, strategies and objectives of management, anticipated production or construction commencement dates and expected costs or production outputs.

Forward looking statements inherently involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance and achievements to differ materially from any future results, performance or achievements. Relevant factors may include, but are not limited to, changes in commodity prices, foreign exchange fluctuations and general economic conditions, increased costs and demand for production inputs, the speculative nature of exploration and project development, including the risks of obtaining necessary licenses and permits and diminishing quantities or grades of reserves, political and social risks, changes to the regulatory framework within which the Company operates or may in the future operate, environmental conditions including

usextreme weather conditions, recruitment and retention of personnel, industrial relations issues and litigation.

Forward looking statements are based on the Company and its management's good faith assumptions relating to the financial, market, regulatory and other relevant environments that will exist and affect the Company's business and operations in the future. The Company does not give any assurance that the assumptions on which forward looking statements are based will prove to be correct, or that the Company's business or operations will not be affected in any material manner by these or other factors not foreseen or foreseeable by the Company or management or beyond the Company's control.

A though the Company attempts and has attempted to identify factors that would cause actual actions, events or results to differ materially from those disclosed in

forward looking statements, there may be other factors that could cause actual results, performance, achievements or events not to be as anticipated, estimated or intended, and many events are beyond the reasonable control of the Company. Accordingly, readers are cautioned not to place undue reliance on forward looking statements. Forward looking statements in these materials speak only at the date of issue. Subject to any continuing obligations under applicable law or any relevant stock exchange listing rules, in providing this information the Company does not undertake any obligation to publicly update or revise any of the forward looking statements or to advise of any change in events, conditions or circumstances on which any such statement is based.

This presentation has been approved for release by Evolution's Board of Directors.

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Acknowledgement of Country

"Evolution would like to acknowledge the Traditional Custodians of the land on which we operate and on which we meet today, the Mitakoodi People, and pay our respects to Elders past, present, and emerging, for they hold the memories, the traditions, the culture and the hopes for Aboriginal people.

We acknowledge the elders for your resilience to pave the way for the generations after and we acknowledge those who continue to educate and empower to maintain and protect all aspects of Aboriginal heritage and culture."

Note: Artwork 'Care for Country' by Gubbi Gubbi artist Maggie-Jean Douglas

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OVERVIEW

Ownership	100% Evolution
Location	38km north-east of Cloncurry, Queensland,
Australia
Property	Operation extends across 8 current mining
leases: ML2671, ML90041, ML90072, ML90085,
only	ML90100, ML90107, ML90116, ML90075
Mining method	Underground, sub-level caving
use	Owner-Miner
Minerals	Copper, Gold, Silver
Mineralisation type	Copper-gold deposit, hydrothermal breccia pipe
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single-line processing circuit to
Process method	produce a bulk copper-gold-silver
	sulphide flotation concentrate
Plant throughput	~8.5Mtpa (current configuration)
Power	40MW grid connected
Mine life	6 years and 5+ years extension potential

Ore Reserves	29.0Mt at 0.49g/t Au for 459koz Au
29.0Mt at 0.93% for 269kt Cu
Mineral	71.4Mt at 0.73g/t for 1.7Moz Au
Resources	71.4Mt at 1.24% for 885kt Cu
Access	Sealed road connecting to Cloncurry
and major regional highways
Workforce	Residential, FIFO, DIDO
Employees and	~600
contractors
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SUSTAINABILITY

D E L I V E R I N G L O N G - TERM STAKEHOLDER VALUE THROUGH SAFE, LOW- COST GOLD PRODUCTION IN AN ENVIRONMENTALLY AND SOCIALLY RESPONSIBLE MANNER

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Risk & Safety performance

• Shared value of Health & Safety
• Continued focus on critical risk management
• Strong hazard reporting culture
• Proactive Covid management

Strong local community support

• ~A$13M annual spend with local businesses
• 10 locally based first-year apprentices commenced in 2022
• 5 Indigenous Employment Program participants graduated
• Local employees are ~25% (130) of our workforce
• ~30 full-time local contractors

Environmental Stewardship

• Net zero commitment
• Well established environmental governance and assurance practices

Lost Time Injuries

1.6 1.6 1.6 1.5 1.5 1.5

0.8	0.8		0.7	0.7	0.7	0.7	0.7
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Feb-21	May-21	Aug-21			Nov-21			Feb-22
	Employee	Contractor		LTIFR 12MMA

Number of Local Employees

116 119 123 126 130

104

93 94

2015

2016

2017

2018

2019

2020

2021

2022

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