EVOLUTION MINING LIMITED — Capital/Financing Update 2023

Sep 28, 2023

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ASX RELEASE

29 September 2023

For immediate release to the market

EPC Contract – Mungari Future Growth Project - Process Plant

GR Engineering Services Limited (ASX: GNG) (GR Engineering) is pleased to announce that it has been awarded a $155 million engineering, procurement and construction (EPC) contract with Evolution Mining Limited (ASX: EVN) (Evolution Mining) for the Mungari Future Growth Project – Process Plant (the Project) 20km west of Kalgoorlie in Western Australia.

The scope of work is to expand the existing Mungari process plant to an annual throughput of 4.2 Mtpa, including required changes to process plant buildings and associated infrastructure. Initial engineering design and procurement works have commenced with site works commencing mid-January 2024.

Commenting on the award, Mr Tony Patrizi, Managing Director said:

“We are extremely pleased that Evolution Mining, one of the world’s leading tier one gold producers, has selected GR Engineering to deliver the Future Growth Project at Mungari. GR Engineering has a long track record of successful project delivery in the mineral processing sector. We see this contract award as a strong endorsement of GR Engineering’s proven process design record and EPC delivery capability.”

Evolution Mining’s Managing Director and Chief Executive Officer, Mr Lawrie Conway, said:

“We are delighted to be partnering with GR Engineering on such a key project for Evolution. Completion of the plant expansion will enable Mungari to significantly increase gold production while reducing All-In Sustaining Cost by 18% to $1,750 per ounce and extending the site’s mine life to 2038.”

Ends.

For further information please contact:

Tony Patrizi Managing Director  +61 8 6272 6000  tony.patrizi@gres.com.au

Omesh Motiwalla

• CFO & Company Secretary  +61 8 6272 6000

•  omesh.motiwalla@gres.com.au

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GR ENGINEERING SERVICES LIMITED ABN 12 121 542 738 Tel: +61 8 6272 6000 Fax: +61 8 6272 6001 Email: gres@gres.com.au Website: www.gres.com.au PO Box 258, Belmont WA 6984 71 Daly Street, Ascot WA 6104