EVOLUTION MINING LIMITED — Capital/Financing Update 2023

Apr 17, 2023

==> picture [110 x 78] intentionally omitted <==

ABN 74 084 669 036

ASX Announcement

Sydney Office P +61 2 9696 2900 F +61 2 9696 2901 Level 24 175 Liverpool Street Sydney NSW 2000

18 April 2023

www.evolutionmining.com.au

ERNEST HENRY RESUMES MINING ACTIVITIES

Evolution Mining Limited (ASX:EVN) (“Evolution”) is pleased to advise that the Ernest Henry operation has safely resumed mining activities and will continue to safely ramp up activities to reach normal production levels by the end of the June quarter 2023.

The resumption of mining activities is within the previously announced six-week timeframe[1] .

As previously noted in the ASX release dated 11 April 2023, the weather impact at Ernest Henry will result in lower gold and copper production of approximately 17,000 ounces and 10,000 tonnes respectively in FY2023 whilst gold and copper production in the March quarter was reduced by ~6,400 ounces and ~4,100 tonnes respectively.

Approval

This announcement is authorised by Executive Chair, Jake Klein.

For further information please contact:

Peter O’Connor Michael Vaughan General Manager Investor Relations Media Relations Evolution Mining Limited Fivemark Partners Tel: +61 2 9696 2900 Tel: +61 422 602 720

About Evolution Mining

Evolution Mining is a leading, globally relevant gold miner. Evolution operates five wholly-owned mines – Cowal in New South Wales, Ernest Henry and Mt Rawdon in Queensland, Mungari in Western Australia, and Red Lake in Ontario, Canada. Financial Year 2023 gold production guidance is approximately 660,000 ounces at an Allin Sustaining Cost of approximately $1,390 per ounce.

1 See ASX announcement titled “March Quarter and FY23 Guidance Update” dated 11 April 2023

Evolution Mining Limited