Evolution Mining : Cowal Site Visit Presentation

COWAL SITE VISIT

JOHN PENHALL - GENERAL MANAGER

31 March 2021

ACKNOWLEDGEMENT OF COUNTRY

We would like to acknowledge the Wiradjuri people who are the Traditional Custodians of the Land.

We would also like to pay respect to the Elders both past and present of the Wiradjuri Nation and extend that respect to other Indigenous Australians who are present.

"We are all visitors to this time, this place. We are just passing through. Our purpose here is to observe, to learn, to grow, to love… and then we return home."

Aboriginal Proverb

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FORWARD LOOKING STATEMENT

These materials prepared by Evolution Mining Limited (or "the Company") include forward looking statements. Often, but not always, forward looking statements can 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 extreme 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.

Although 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.

AUD:USD exchange rate assumption of 0.75 used throughout this presentation unless stated otherwise.

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PREMIER GLOBAL MID-TIER GOLD COMPANY

B E S T I N C L A S S F I N A N C I A L R E T U R N S

EBITDA margin1 of 56%

2.8 Sector leading cash flow per ounce Dividends per ounce2 of A$341

H I G H Q U A L I T Y P O R T F O L I O

Long-life,low-cost cornerstone operations

Tier 1 jurisdictions

Focused portfolio of 6 - 8 assets

A T T R A C T I V E G R O W T H P R O F I L E

Cowal production objective 350kozpa

Red Lake production objective 300 - 500kozpa

Ernest Henry extensions below 1,200mRL

1. H1FY21 excluding Red Lake
2. H1FY21

Red Lake

Ernest Henry	Mt Carlton

	Mt Rawdon
Mungari	Cowal

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SUSTAINABILITY PRINCIPLES

The objective of our sustainability efforts is to deliver long-term stakeholder value through safe, low-cost gold production in an environmentally and socially responsible manner

Be an employer of choice	Demonstrate robust risk	Contribute positively to	Actively manage climate	Protect and enhance our
attracting the most	management and safety	local, regional and	related risks and	reputation as a trusted
talented people and foster	leadership	national sustainability	opportunities including	partner and provide
a safe, diverse and		efforts by achieving an	improving energy efficiency	community benefits that
inclusive workplace		outstanding level of	and the responsible	endure beyond the life of
		environmental	management of water	our mines
		stewardship

Advance the outcomes for	Respect the human rights
indigenous peoples and	of all our stakeholders
protect their Cultural
Heritage

Be transparent at all levels of	Relentlessly drive for
Corporate Governance,	operational excellence
comply with applicable laws &	through an innovative
regulations and operate at the	culture and inspired
highest standards of financial	people delivering to plan
and ethical behaviour

OUR VALUES: SAFETY EXCELLENCE ACCOUNTABILITY RESPECT

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