EVOLUTION MINING LIMITED — AGM Information 2012

Nov 26, 2012

Evolution Mining AGM Presentation

27 November 2012 Jake Klein – Executive Chairman

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Disclaimer

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• This presentation has been prepared by Evolution Mining Limited (“Evolution Mining”) and consists of slides for a presentation concerning the company. By reviewing/attending this presentation, you acknowledge and agree the following.

• This presentation includes forward-looking statements. Forward-looking statements inherently involve subjective judgement and analysis and are subject to a number of risks, uncertainties, contingencies and other factors, many of which are outside the control of, and may be unknown to, Evolution Mining. As such, actual results or performance may vary materially from those expressed or implied by forward-looking statements. The types of factors that could cause such variation in actual results or performance include (without limitation) commodity prices, operational problems and general economic conditions. Given these factors, undue reliance should not be placed on forward-looking statements, which speak only as at the date of this presentation. Subject to any continuing obligations under applicable law or any relevant stock exchange listing rules, Evolution Mining does not undertake any obligation to publicly update or revise any forward-looking statements contained in this presentation, including (without limitation) where Evolution Mining’s expectations change in relation to such statements and where there is a change in events, conditions or circumstances providing the basis for any such statement.

• No representation or warranty, express or implied, is made as to the accuracy, completeness, reliability, fairness or correctness of the information contained in this presentation. To the maximum extent permitted by law, Evolution Mining and its related bodies corporate and affiliates, and each of their respective directors, officers, employees, agents and representatives, disclaim any liability or responsibility for loss or damage arising from or in connection with the use of the information contained in this presentation.

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Who we are

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3[rd] Largest ASX Listed Gold Mining Company

Corporate Information ASX Code EVN Index S&P ASX200 Shares 707.9M Last Price[1] A$1.97ps Market Capitalisation A$1.4B Daily Turnover[2] A$3.6M Cash[3] A$72.6M Debt[3] A$31.5M 189,369oz at Forward Sales[3] A$1,573/oz Major Shareholder Newcrest 33%

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Mt Carlton
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Cracow
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Pajingo
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Edna May
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Mt Rawdon
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1. As at 21 Nov 2012

2. 3 month average as at 19 Nov 2012

3. As at 30 Sept 2012

Leadership Team

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Jake Klein

Tim Churcher

• Executive Chairman BCom (Hons), ACA

• VP Finance & Chief

• Financial Officer BSc, MSc, MBA, MAusIMM, ACA

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Evan Elstein

Roric Smith

• Company Secretary and GM IT BCom (Acc & Fin), ACA

• VP Discovery and Chief

• Geologist

• BSc, BSc Hons, PhD Geology, MAIG

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Aaron Colleran

Mark Le Messurier

• VP Investor Relations & Bus. Development BEng(Geol),BCom (Fin)

• Chief Operating Officer BEng, MBA, MAusIMM

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Adrian Pelliccia

Raelene Wyatt

• GM Discovery BSc (Geol), Dip (Fin), MAusIMM

• GM Human Resources BCom (HR/IR)

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Australia’s newest mid-tier producer

Dec Q 2011 – 89,812oz at A$698/oz Mar Q 2012 – 84,122oz at A$809/oz Jun Q 2012 – 97,149oz at A$762oz FY2012 total production of 346,979oz – within guidance FY2012 average cash cost of A$771/oz – below guidance

FY2013 Sep Q 2012 – 94,446oz at A$732oz

Notes:

Production represents total production i.e. assumes 100% asset ownership at all dates. Ownership interest in Cracow increased from 30% to 100% on 2 November 2011, 100% of Mt Rawdon acquired 2 November 2011, and 100% of Pajingo acquired 18 October 2011.

Cash costs are before royalties and after silver credits.

FY2012 Financials – Key Takeaways

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• Successful merger delivers growth in all key metrics

• Revenue from gold and silver sales increased by 285% to A$469.5 million

• Group production of 346,979 ounces (280,401 ounces attributable[1] ) inline with guidance

• Underlying EBITDA of A$190 million

• Underlying net profit of A$63 million and reported net profit of A$37 million

• Investment in operations of A$244 million including A$85 million capital at Mt Carlton

• Strong balance sheet with cash of A$142 million (30 June 2012)

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ASX-listed gold companies

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Relative performance

Share price performance since EVN formation

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140 ASX200 5.5%
Gold (0.0%)
120 EVN 16.6%
CGA 8.1%
SLR 8.0%
100
RED (47.4%)
RRL 88.1%
80
PRU (21.0%)
AQG (60.2%)
60 SBM (29.2%)
OGC 35.9%
40 KCN (31.5%)
NCM (24.7%)
GRY (54.8%)
20
Nov-11 Feb-12 May-12 Aug-12 Nov-12 AMX (78.9%)
EVN ASX200 Gold Producers Gold Developers Gold Price BDR 42.9%
ABU (26.2%)
Source: FactSet, Bloomberg, IRESS.
Note: Market data as at 22 November 2012. Gold producers
Share price data has been adjusted for historical dividends and share splits.
Gold producers index includes Evolution, Newcrest, St Barbara, CGA, Kingsgate, Alacer, OceanaGold, Regis, Red 5, Silver Lake and Perseus. Gold developers
Share Price (A$/ share indexed to 100)
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Gold producers index includes Evolution, Newcrest, St Barbara, CGA, Kingsgate, Alacer, OceanaGold, Regis, Red 5, Silver Lake and Perseus. Gold developers index includes Beadell, ABM Resources, Ampella Mining and Gryphon Minerals.

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Australia’s newest mid-tier producer

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
All assets 100% owned

Excellent exploration potential

3.3Mozeq Ore Reserves

7.0Mozeq Mineral Resources

Defined growth profile
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Evolution FY2013 Production Outlook 370koz – 410koz AuEq

Edna May

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Edna May Plant Throughput (tph)

• Re-capitalised

• 11.7% production increase on FY2011

• Improved plant throughput & reliability

• Crushing trials to increase throughput to +3Mtpa via secondary crushing

• Improved process water security via bore field & pipeline construction

• Mine to mill optimisations: improved rock fragmentation, reduced secondary breakage requirements

• Near-mine exploration success: Greenfinch high-grade mineralisation extended 150m down-dip

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370
360
350
340 Average throughput
330
Average throughput
320
310
300
290
40,000 A$988 A$990 1,000
A$752
30,000 700
25,925oz
19,863oz
20,000 400
16,312oz
10,000 100
0 -200
Mar Qtr 2012 Jun Qtr 2012 Sep Qtr 2012
Total oz Total Cash Cost
Cost A$/oz
Production (oz)
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Pajingo

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• Re-capitalised, re-invigorated

• 65% production increase on FY2011

• Best quarter’s production since Newmont ownership in 2008

• Mining fleet upgrade

• Capital works for the ventilation system Sustainable mine growth

• Significant resource growth

  • 375koz identified within Vera-Nancy trend (Jandam and Faith)

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Spartan Deep IP at Moonlight Prospect

• Exploration success at Moonlight (2013 resource update)

• Spartan Induced Polarisation technology finds depth extensions to Moonlight structure and potential extensions to Zed-Sonia mineralisation

Resistivity Line 1

Mt Rawdon

• Efficiency gains demonstrated - high standby costs now significantly reduced

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 Regional exploration targets identified and prioritised - high priority targets include Mt Shamrock, Mt Dell and Rawdon South

• Resource definition drilling

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Total Standby Cost
$500,000
$400,000
$300,000
$200,000
$100,000
$0
Aug-11 Sep-11 Oct-11 Nov-11 Dec-11 Jan-12 Feb-12 Mar-12 Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 Oct-12
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Geophysical survey – Rawdon South
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Cracow

• Focus on UG development to provide greater

production flexibility: recent development record of 1,847m primarily to further develop Kilkenny, Empire and Roses Pride

• Achieved a cost effective primary ventilation upgrade and improved mobile plant efficiencies across the mining fleet

 Discovery of new high grade epithermal gold shoot (Coronation): 250m from current mining operations and open along strike

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Mt Carlton

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• High quality new project

• Key growth project: commissioning on schedule to commence December 2012

• Mt Carlton to be the lowest cost mine in the portfolio from FY2014

• Greenfields development – discovered in 2006

• Significant exploration upside

Stage	Construction
Mine Type	Open pit
Minerals	Gold, silver and copper
Mineralisation type	High-sulphidation epithermal
Throughput	800,000tpa
Average grade	V2 open pit – 3.7g/t gold eq.
FY2013 ramp-up production outlook	25,000 – 30,000ozeq payable
Mine Life	12 years
Ore Reserves	1.2Moz gold equivalent
Mineral Resources	2.2Moz gold equivalent

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Mt Carlton

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Exploration Pipeline

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Conceptual Preliminary Advanced Pre-Feasibility Mine Target Target Development

• Five projects in multi-million ounce gold provinces • Strategic landholding = 6,800km[2 ] ~~• FY2013 exploration budget of A$28M~~ • 100,000m drilling planned

Twin Hills

Edna May Coronation Underground

V2 and A39

~~Mt Carlton~~ Greenfinch United Starlight Corridor Moonlight Capsize ~~Corridor~~ Mt Trend Rawdon Regional Ferneyside Golden Plateau

Aviary

Pajingo Regional Cracow South

Mt Edna Mt Pajingo Cracow Carlton May Rawdon

Holleton

14

Meaningful Growth

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• Aggressive exploration – funded through strong balance sheet and cash flow

• A$28 million committed in FY2013

• Challenging debt and equity markets

• World-class understanding of Asia Pacific region

• Key competitive advantage

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We say, we do, we deliver

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• Demonstrated operational predictability: portfolio of assets

• Group gold production within guidance

• Group cash costs significantly below guidance

• Replaced mining depletion by discovery

• Financial capacity for meaningful growth

• Attracted and retained talented senior management

• Employing >1,000 people

• S&P/ASX200 – increased scale and liquidity

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Australia’s newest mid-tier producer

• Portfolio of assets delivering operational predictability

• Strong balance sheet to fund growth

• Investing in efficiency gains across all operations

• Current growth projects being delivered

• Exploration focus on unlocking the potential across all sites

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Right place, right time – new Australian mid-tier gold producer We Say, We Do, We Deliver

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Evolution Mining ASX Code: EVN

www.evolutionmining.com.au

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