EVOLUTION MINING LIMITED — Capital/Financing Update 2015

May 24, 2015

25 May 2015

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ABN 74 084 669 036

The Manager

Sydney Office

Market Announcements Office

ASX Limited

P +61 2 9696 2900 F +61 2 9696 2901

Level 4, Exchange Centre

20 Bridge Street Sydney NSW 2000

Level 30 175 Liverpool Street Sydney NSW 2022

Dear Sir / Madam

www.evolutionmining.com.au

Evolution Mining Limited (ASX Code: EVN)

Notice under sections 708AA(2)(f) of the Corporations Act 2001 (Cth) as modified by ASIC Class Order 08/35

This notice is given by Evolution Mining Limited (ACN 084 669 036) ( Evolution ) under section 708AA(2)(f) of the Corporations Act 2001 (Cth) (the Act ) as modified by the Australian Securities & Investments Commission ( ASIC ) Class Order 08/35.

Evolution has announced a 'low-doc' pro-rata renounceable entitlement offer (the Offer ) of 5 new Evolution share ( New Share ) for every 13 Evolution shares held as at 7.00pm (Sydney time) on 29 May 2015 by Evolution shareholders with a registered address in Australia and New Zealand and certain other jurisdictions in which Evolution decides to extend the Offer.

Evolution advises the following.

• (a) The New Shares will be offered for issue without disclosure to investors under Part 6D.2 of the Act.

• (b) This notice is being given under section 708AA(2)(f) of the Act as modified by ASIC Class Order 08/35.

• (c) As at the date of this notice, Evolution has complied with:

• (i) the provisions of Chapter 2M of the Act as they apply to Evolution; and

• (ii) section 674 of the Act as it applies to Evolution;

• (d) As at the date of this notice, there is no 'excluded information' of the type referred to in sections 708AA(8) and 708AA(9) of the Act as modified by ASIC Class Order 08/35.

• (e) The potential effect that the issue of the New Shares will have on the control of Evolution, and the consequences of that effect, will depend on a number of factors, including investor demand. However, given the structure of the Offer as a pro-rata issue and the current composition of the shareholder register, the issue is not expected to have any material effect or consequence on the control of Evolution.

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Yours sincerely

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Evan Elstein Company Secretary Evolution Mining Limited

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