Inspired people creating a premier global gold company

WE SAY WE DO WE deliver

Macquarie Australia Conference 2026

Lawrie Conway – Managing Director & Chief Executive Officer

5 May 2026

Evolution

MINING

Forward looking statement

Evolution

These materials prepared by Evolution Mining Limited ('Evolution' 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.

Non-International Financial Reporting Standards (IFRS) financial information

Investors should be aware that financial data in this presentation includes 'non-IFRS financial information' under ASIC Regulatory Guide 230: Disclosing non-IFRS financial information published by ASIC and also 'non-GAAP financial measures' within the meaning of Regulation G under the U.S. Securities Exchange Act of 1934. Non-IFRS/non-GAAP measures in this presentation include gearing, sustaining capital, major product capital, major mine development, and production cost information such as All-in Sustaining Cost and All-in Cost. Evolution believes this non-IFRS/non-GAAP financial information provides useful information to users in measuring the financial performance and conditions of Evolution. The non-IFRS financial information do not have a standardised meaning prescribed by the Australian Accounting Standards ('AAS') and, therefore, may not be comparable to similarly titled measures presented by other entities, nor should they be construed as an alternative to other financial measures determined in accordance with AAS. Investors are cautioned, therefore, not to place undue reliance on any non-IFRS/non-GAAP financial information and ratios included in this presentation. Non-IFRS financial information in this presentation has not been subject to audit or review by the Company's external auditor.

This presentation has been approved for release by Evolution's Chair, Jake Klein.

All amounts expressed in Australian dollars unless stated otherwise.

All production and financial information in this presentation represents Evolution's share unless otherwise stated.

The world order is changing. . . .

Evolution

Structural not cyclical:

Precious metal prices increasingly reflect shifts away from globalisation and a changing world order

Central bank buying

Rebalancing reserves - away from USD toward gold

US national debt growing

Currently ~US$39 trillion¹ and growing
Rate of US spending not expected to change
Average daily US interest cost is ~$3B⁴

As at 30 April 2026, sourced from the US Department of Treasury at https://www.treasurydirect.gov/mpd/defs/pubs/debt.
Analyst consensus as at April 2024, by 2026.
Sheet of Hornuz image sourced from the US Department of Treasury at https://www.afp-ct-matters-to-global-trade-2744829-2025-06-23.
Sourced from https://www.us-debt-climate.com/us-debt-interest.

Long term gold price forecast up by ~100% in 2 years

The price estimates above represent the consensus long term price expectation 3-5 years ahead of the year in which they were originally forecast (i.e. 2024 long term price estimate relates to 2027-2029).

Evolution

Sustainable high-margin cash generation

Group net mine cash flow YTD ~$1.6 billion
Group operating mine cash flow YTD ~$2.5 billion
High margin cashflows from consistent delivery and cost control

Asset	Net mine cash flow FY26 YTD ($/oz)	Net mine cash flow FY26 YTD ($M)
Cowal	3,045	676
Ernest Henry^{1}	3,711	141^{1}
Northparkes	8,455	187
Red Lake	2,347	223
Mungari	2,284	322
Mt Rawdon	1,824	31
FY26 YTD	2,951	1,579
(2,105 annualised)
Achieved gold price	6,055
Spot gold price	6,370

Ernest Henry has returned to normal operations following the rainfall event in the December quarter and above average rainfall in the March quarter.

Rapid deleveraging: net cash; further upside in June Quarter

Dividends per share & gearing

Evolution

Long life, high return portfolio with plenty of upside

Portfolio average return on investment of 18% with 15 years reserve life¹

Mt Rawdon - opportunity to transition to a pumped hydro facility following conclusion of operations in FY26

Reserve life is calculated as contained metal of the gold Ore Reserve at 31 December 2025 / FY26 gold production guidance for each site. See the appendix for more information on Evolution's Mineral Resources and Ore Reserves and FY26 production guidance.

Percentage repaid

up to 25%
26-50%
100%

Return on investment

Evolution

Disciplined capital allocation driving sustained high returns

Accretive deals	Organic growth
Value is not just “bought” ... its built after the acquisition
Strategy to own up to 8 assets in tier 1 jurisdictions	High return projects approved
• Northparkes Operations (NPO)
• E22 block cave
• Coarse particle flotation
• Expansion studies
• Ernest Henry Operations (EHO)
• Bert deposit	• NPO & EHO Projects
• Cowal OPC ahead of schedule
• E46 development
• Southern bund
• IWL	Delivering record returns
26th consecutive dividend
20cps ($406M)
$2B+
total dividends declared to date
Return-on-investment – 18%
Return on equity raises – >20%	High quality portfolio
Ore Reserve life ~16 years¹
Annual capex ~$0.9bn – $1.1bn		Current EVN policy ~50% of group cash flow

EVN's portfolio generates high-margin cash to reinvest, pay dividends & increase balance sheet flexibility

Reserve life is calculated as contained metal of the gold Ore Reserve at 31 December 2025 / FY26 gold production guidance for each site. See the appendix for more information on Evolution's Mineral Resources and Ore Reserves and FY26 production guidance.

Evolution

Further investment to enhance portfolio quality

Asset	Project	IRR
	OPC^{1}
	E48 SLC^{2}
	Coarse Particle Flotation^{2}
	E22 block cave^{2}
	Bert^{2}
	Evolution Group average

Improving portfolio quality delivers higher shareholder returns

OPC IRR calculated using a base case gold price of $3,300/oz and upside gold price of $6,500/oz.
E48, E22, Coarse Particle Flotation Project and Bert IRRs calculated using base case metal prices of $14,350/t copper and $4,000/oz gold and January 2026 upside metal prices of $18,000/t copper, and $6,500/oz gold. All reported metrics are Evolution's attributable share post stream unless otherwise noted.

Evolution

Delivering sustainable consistent high returns

☑ Operational delivery to plan
☑ Record financial performance
☑ Maintaining capital discipline
☑ Rewarding our shareholders
☑ Maximising value of the portfolio

Evolution

Appendix

Evolution

Appendix Portfolio overview

Our operations

Evolution

PLANTS

Mungari

Expansion successfully commissioned
Moved back to high cash contributor

Red Lake

Consistent production
Positive cash flow
Good exploration potential

Cowal

Material cash generation
Open Pit Continuation ahead of schedule

Northparkes

Asset now unlocked to drive growth
Capitalising on the copper market exposure

Ernest Henry

Strong cash contributor whilst advancing future options
Land surrounding asset secured

Evolution

Copper is the differentiator in our portfolio

Comprises 25% - 30% sales

☑ A key enabler of the global energy and digital transitions
☑ Mined grades and the rate of major new discoveries both in decline
☑ Average time from copper discovery to production of 18 years¹
☑ Supply challenges creating market tightness

Mining Visuals https://www.miningvisuals.com/post/copper-mines-average-time-from-discovery-to-production-is-17-9-years.

Evolution

Northparkes – advancing our long-term growth agenda

Expansion Study aims to quantify the full potential of Northparkes

Assessing options to materially increase mill throughput
Evaluating new open pit potential alongside underground projects
Optimising the long-term mine-to-mill configuration for a higher-capacity plant
Focusing on maximising metal recovery and overall asset value

For more information on Evolution's Mineral Resources and Ore Reserves as at 31 December 2025 see the appendix of this presentation.

Northparkes – E22 block cave

Evolution

Long-life, low-cost bulk underground operation enables continued plant utilisation at ~7.4Mtpa
Supports transition to 8Mtpa
Initial production from end of FY30
Generates returns of¹
28% at base case metal prices
38% at upside metal prices
$545M capital spread over ~5 years (EVN share)
Delivery de-risked through optimised access, ventilation and materials-handling design
Twin-decline configuration
Revised ventilation approach
Four tipping points increasing crusher productivity
Positioned to capitalise on copper market exposure

E48 SLC

Legend
Proposed mine
Previously mined area
Current mining area

E22 metrics calculated using metal price assumptions of $4,000/oz gold, $14,350/t copper for base case, and January 2026 upside metal prices of $6,500/oz gold and $18,000/t copper.
For more information on the E22 block cave see the ASX announcement titled 'Growth projects approved to deliver higher returns across the portfolio', dated 11 February 2026 and available to view at www.evolutionmining.com.

Northparkes – unlocking future growth

Evolution

Coarse Particle Flotation Project

Enhanced recovery (~2%) for copper and gold
Improves energy efficiency and increases throughput
Commissioning expected to be completed in 2H FY28
Generates returns of¹
23% at base case metal prices
43% at upside metal prices
Capital investment ~$75M (EVN Share)

Expansion Study

Aims to unlock long-term value via increased processing scale
Includes
Pre-Feasibility Study to expand mill capacity
Supporting mining Pre-Feasibility and concept studies
Study due for completion by end of FY27
Capital investment $14M (EVN Share)
IRR for Northparkes Coarse Particle Flotation Project calculated using base case prices of $14,350/t copper and $4,000/oz gold, and January 2026 upside metal prices of $18,000/t copper, and $6,500/oz gold.
For more information on the Coarse Particle Flotation Project and Northparkes Expansion Study see the ASX announcement titled 'Growth projects approved to deliver higher returns across the portfolio', dated 11 February 2026 and available to view at www.evolutionmining.com.

Ernest Henry – optimising capacity to 2040+

Evolution

Mine continuation study outcomes (September qtr 2025)

Captured significant ore additions during study
Ore sourced from a combination of:
Continuing SLC below 1125mRL via trucking to existing materials handling infrastructure
Additional ore sources adjacent to existing cave transported to existing ore pass system
Grade profile of cave maintained for copper and gold
Mine life to ~2040¹ maintaining ~6.8Mtpa rate
Future growth potential, at depth, below 775mRL to extend mine life beyond 2040²

FS study concluded - mining to continue advancing in main cave plus additional ore sources

See ASX announcement titled, 'Ernest Henry mine life extended to 2040 – Ore Reserves doubled,' dated 5 June 2023 available to view at www.evolutionmining.com.
For more information on Evolution's Mineral Resources and Ore Reserves as at 31 December 2025 see the appendix of this presentation.

Evolution

Ernest Henry – Bert an additional source for higher production

Incremental addition to existing mining operations¹
Unlocks latent mill capacity
Increases gold and copper production
Enhances mine plan flexibility – independent operations
Estimated 7 year mine life from first-half FY29
Generates returns of²
23% at base case prices
48% at upside metal prices
Investment of $160M

¹ For more information on the Bert approval see the ASX announcement titled 'Growth projects approved to deliver higher returns across the portfolio' dated 11 February 2026, available to view at our website www.evolutionmining.com.
² IRR for Bert calculated using base case prices of $14,350/t copper, $4,000/oz gold, and January 2026 upside prices of $18,000/t copper, $6,500/oz gold.

For more information on Evolution's Mineral Resources and Ore Reserves as at 31 December 2025 see the appendix of this presentation.

Evolution

Ernest Henry – acquisition update

Subsequent to the end of the December 2025 quarter, Evolution consolidated additional exploration ground in proximity to Ernest Henry Operations via the acquisition of subsidiary Isa Tenements Pty Ltd from GBM Resources Limited.
This is consistent with the group's strategy to identify options to utilise the latent milling infrastructure capacity at Ernest Henry.
This acquisition follows two prior additions in the region; the Corella Project¹ and the Cloncurry North JV² consolidating a highly prospective exploration tenement package.
See ASX announcement titled 'Exploration Success Driving Future Growth Options' dated 22 January 2025, available to view at www.evolutionmining.com.
See ASX announcement titled 'Exploration Success Continues at Cowal and Ernest Henry' dated 17 January 2024, available to view at www.evolutionmining.com.

Evolution

Cowal – a cornerstone asset through 2042

Track record of consistent, low-cost, resource replacement ~6Moz at $23/oz ($138M), endowment 13.8Moz to date¹
Open pit mining extended by 10 years and operations to 2042², providing baseload feed
Underground resource growth has potential to create additional significant value for stakeholders
At 2.4Mtpa the underground will account for one third of the mill feed and 50% of total ounces

Endowment comprises Cowal's total gold production to 30 June 2025 and gold Mineral Resource as at 31 December 2025. The diagram shows Cowal's Mineral Resources and Ore Reserves as at 31 December 2025. For more information on Evolution's Mineral Resources and Ore Reserves as at 31 December 2025 see the appendix of this presentation.
See ASX announcement titled 'Board approves project extending Cowal Operation to 2042' available to view at www.evolutionmining.com.

Cowal

Evolution

E41

See ASX Announcement titled, 'Exploration Update - Promising Exploration Results from Mungari and Cowal, Progress on New Discovery Opportunities', dated 15 April 2026 and available to view on our website at www.evolutionmining.com.

Cowal

Evolution

Oban¹

See ASX Announcement titled, 'Exploration Update - Promising Exploration Results from Mungari and Cowal, Progress on New Discovery Opportunities', dated 15 April 2026 and available to view on our website at www.evolutionmining.com.

Evaluation

Mungari – optionality with multiple ore sources

Net mine cash flow $322M for FY26 year to date, exceeds the $212M plant expansion project

On track to achieve 200kozpa run rate 2H FY26

Leveraging a significant 7.2Moz Mineral Resource¹

Conventional mining method for eastern goldfields
Ore volume: ~80% open pit, ~20% underground
Castle Hill
Base load open pit ore feed to mill
Kundana and Paradigm
Higher grade underground ore feed
Ore haulage
Partnership with ore haulage contractor MLG
Sealed haul road construction to Castle Hill
Accommodation constructed for northern mining hubs

¹. For more information on Evolution’s Mineral Resources and Ore Reserves as at 31 December 2025 see the Appendix of this presentation.

Evaluation of Food and Drug Administration

Mungari – accelerating value through discovery

Low-cost resource discovery at $19/oz ($70M)¹
Discovery strategy and key highlights:
Sustain high-grade underground production for +5 yrs
Recent discovery success at Genesis and Solomon²
Mill baseload feed – proven up and with upside
Castle Hill drilled and in production
Test new compelling high-grade targets
New high-grade results from surface drilling campaigns at Kundana²
Discovery potential – reflected by Mungari receiving the largest FY26 discovery budget allocation in EVN portfolio
Resource replacement cost is calculated for the period August 2021 until December 2024 and includes depletion.
See ASX Announcement titled, 'Exploration update – encouraging results from Mungari and Northparkes' dated 16 July 2025 and available to view at www.evolutionmining.com.

For more information on Evolution's Mineral Resources and Ore Reserves as at 31 December 2025 see the appendix of this presentation.

A location map of Kundana showing tenure, deposits/mines, gold trends and areas for exploration focus in FY26

Mungari

Evolution

See ASX Announcement titled, 'Exploration Update - Promising Exploration Results from Mungari and Cowal, Progress on New Discovery Opportunities', dated 15 April 2026 and available to view on our website at www.evolutionmining.com.

Red Lake – Consistent cash generation

Evolution

Net mine cash flow ~$300M in net mine cash flow in the past 21 months.
Record net mine cash flow in March quarter FY26 $104M.
Contingency & flexibility – three mining fronts, stockpile capacity, and optimising milling capacity.
Record mill throughput FY25 ~1M tonnes.
Tailings – drilling in FY24 and FY25 has delivered a Dec 2025 Mineral Resource 0.29Moz and Ore Reserve 0.6Moz.¹

Red Lake

Evolution

For more information on Evolution's Mineral Resources and Ore Reserves as at 31 December 2025 see the appendix of this presentation.

Evolution

Promising Exploration Results from Mungari and Cowal

Mungari, Western Australia

Step-out drilling at Genesis and Arctic continues to return high-grade results outside Mineral Resources² and located near underground infrastructure.

Cowal, New South Wales

Surface drilling at E41 has returned significant new results in multiple directions beyond the planned open-pit.
The emerging ‘Oban’ underground target delivered further high-grade results in a large underexplored corridor between the E42 open-pit and current underground operations.

New discovery opportunities

Regional exploration around Ernest Henry will be accelerated across the June and September quarters, with the goal of finding new production opportunities to utilise latent mill capacity.
In Canada, permitting and engagement are underway to advance drill-ready targets at Two Times Fred and Clisbako, with drilling currently in progress at the October Gold JV in Ontario.

See ASK Announcement sheet, Exploration Update, Monitoring Exploration Results from Mungari and Cowal Progress on New Discovery Opportunities, dated 15 April 2020 and available to support the website of www.exploreringaq.com.
For more information on Evolution's Mineral Resources and Ore Reserves as at 31 December 2023 see the appendix of this presentation.

Expanding Canadian exploration pipeline

Evolution

New high-quality exploration projects – acquisition of Two Times Fred and option to acquire Clisbako, both located in highly prospective region of central British Columbia, a district known for long-life and large-scale gold and copper-gold mines.
Under-explored targets – previous exploration at both projects have defined compelling targets analogous to large-scale epithermal gold camps with no significant drill testing at depth.
World-class geological provinces in Canada – strengthens Evolutions footprint in Canada alongside existing exploration tenure around Red Lake and projects in Ontario.
Drill-ready – drilling planned on high-ranking target areas in the next 12-15 months, with clear pathways to decision points and further investment.

FY26 guidance

Evolution

FY26 guidance	Gold production (koz)	Copper production (kt)	AISC ($/oz)^{1,2}	Sustaining capital ($M)^{3}	Major mine development capital ($M)^{4}	Major project capital ($M)^{5}	Depreciation & amortisation ($/oz)^{6}
Group	710 – 780	70 – 80	1,640 – 1,760	200 – 270	225 – 310	500 – 605	1,150 – 1,300
Cowal	305 – 330		2,200 – 2,300	35 – 50	100 – 140	180 – 205	800 – 900
Ernest Henry	65 – 70	45 – 51	(3,500) – (3,000)	45 – 60	35 – 45	120 – 150	2,600 – 2,800
Northparkes	20 – 25	25 – 29	(7,500) – (7,000)	15 – 25	10 – 15	45 – 65	3,000 – 4,500
Mungari	175 – 190		2,300 – 2,400	60 – 75	35 – 50	50 – 65	850 – 950
Red Lake	130 – 145		2,550 – 2,700	40 – 50	45 – 60	105 – 120	1,100 – 1,300
Mt Rawdon	15 – 20		–	5 – 10	–	–	–
Corporate	–		140 – 150	–	–	–	10 – 15

AISC updated to reflect the improved guidance range of $1,640 to $1,760/oz
No change to sustaining capital
Major mine development and major project capital updated to reflect new projects announced on 11 February and improved project schedule for existing projects
Cowal: Early access to E46 and advancement of southern bund, increased IWL volume, purchase of 2nd hand village
Ernest Henry: Commencement of Bert
Northparkes: Commencement of E22 and Coarse Particle Flotation Projects
Mungari: Deferral of Castle Hill haul road sealing from FY25 to post-winter FY26
Red Lake: Acceleration of CYD decline works
AISC include C1 cash cost, plus royalties, sustaining capital, general corporate and administrative expense, calculated per ounce sold. FY26 guidance range for group AISC calculated for continuing operations – excluding Mt Rawdon, which ceased mining operations in FY25 and is processing low grade stockpiles in FY26.
AISC calculations are based on metal prices of $17,500/t for copper and $6,200/oz gold.
Sustaining Capital relates to investment to maintain ongoing production per World Gold Council (WGC) guidelines.
Major mine development comprises costs incurred to establish access to ore bodies over longer term.
Major project capital includes expenditure to establish new assets or a material change in production rates as per WGC.

Low cost & long tenor debt aligned with cash flows ($M)

Evolution

All bank term loans repaid
No debt repayment until FY29
Low fixed debt cost at average rate of 4.47%

Evolution

Summary of key cost drivers

No material operational disruptions due to the impact of the global fuel supply situation
Contracts in place with major oil distribution companies which continue to fulfil their obligations
Action response plans in place
Cost volatility monitored with diesel costs accounting for only 2% of total cost drivers
Cost drivers are based on FY26 H1 actual.

FY26 sensitivities

Evolution

FY26 cash flow sensitivities ($M)¹

Operating costs (+/-5%)
100 - 110

Copper price (+/- $1,100/t)
70 - 80

Gold price (-/+ $100/oz)
60 - 70

Copper volume (+/- 5%)
50 - 60

FY26 AISC sensitivities ($/oz)¹

Operating costs (+/-5%)
130 - 140

Copper price (+/- $1,100/t)
95 - 105

Copper volume (+/- 5%)
70 - 75

Sustaining capex (+/-5%)
15 - 20

Sensitivities shown are forecast FY26 and do not include H1 actual.

Evolution

Appendix Mineral Resources and Ore Reserves

Evolution

Group gold Mineral Resources at 31 December 2025

Project	Gold		Measured			Indicated			Inferred			Total Resources			CP4	December 2024 Resources
	Type	Cut-off	Tonnes (Mt)	Gold grade (g/t)	Gold metal (Moz)	Tonnes (Mt)	Gold grade (g/t)	Gold metal (Moz)	Tonnes (Mt)	Gold grade (g/t)	Gold metal (Moz)	Tonnes (Mt)	Gold grade (g/t)	Gold metal (Moz)		Tonnes (Mt)	Gold grade (g/t)	Gold metal (Moz)
Cowal	SP	0.3g/t Au	52	0.49	0.82	-	-	-	-	-	-	52	0.49	0.82	1	51	0.52	0.84
Cowal	OP	0.3g/t Au	-	-	-	200	0.77	4.9	47	0.72	1.1	240	0.76	6.0	1	190	0.83	5.2
Cowal	UG	1.4g/t	-	-	-	31	2.42	2.4	13	2.17	0.92	44	2.35	3.4	1	38	2.38	2.9
Cowal	Total		52	0.49	0.82	230	0.99	7.3	60	1.04	2.0	340	0.92	10		280	0.98	8.9
Ernest Henry	Total	-0.7% Cu	31	0.79	0.80	49	0.79	1.2	25	0.76	0.60	100	0.78	2.6	2	110	0.77	2.8
Mungari	SP		-	-	-	4.5	0.65	0.093	0.045	1.14	<0.01	4.5	0.65	0.095	3	3.7	0.64	0.077
Mungari	OP	0.25g/t Au	0.19	2.33	0.01	89	0.95	2.7	65	0.86	1.8	150	0.91	4.5	3	150	0.93	4.4
Mungari	UG	1.9 - 2.3g/t Au	1.9	5.22	0.31	7.8	4.87	1.2	7.6	4.24	1.0	17	4.63	2.6	3	19	4.45	2.6
Mungari2	Total		2.1	4.96	0.33	100	1.24	4.0	73	1.22	2.9	180	1.27	7.2		170	1.31	7.2
Red Lake	T	0.5g/t Au	-	-	-	12	1.17	0.46	5.6	0.74	0.13	18	1.04	0.6	4	2.5	1.74	0.14
Red Lake	UG	2.6 - 2.9g/t Au	-	-	-	27	4.78	4.2	15	4.59	2.2	43	4.71	6.5	4	44	4.96	7.0
Red Lake	Total		-	-	-	40	3.67	4.7	21	3.55	2.4	61	3.63	7.1	5	47	4.79	7.2
Mt Rawdon	OP	Various	-	-	-	0.50	0.58	<0.01	-	-	-	0.50	0.58	<0.01	5	5.0	0.30	0.048
Marsden	OP	-0.2% Cu	-	-	-	93	0.30	0.90	4.2	0.16	0.022	97	0.30	0.92	1	120	0.27	1.1
Northparkes	SP	Various	5.1	0.44	0.07	-	-	-	-	-	-	5.1	0.44	0.073	6	5.8	0.45	0.084
Northparkes	OP	Various	12	0.78	0.29	24	0.34	0.26	7.2	0.16	0.037	42	0.43	0.58	7	16	0.81	0.41
Northparkes	UG	Various	150	0.20	0.98	260	0.14	1.2	39	0.16	0.20	450	0.17	2.4	8	460	0.17	2.5
Northparkes3	Total		170	0.25	1.3	290	0.16	1.5	47	0.16	0.24	500	0.19	3.1		480	0.19	3.0
Total1			250	0.41	3.3	800	0.76	20	230	1.10	8.1	1,300	0.75	31		1,200	0.77	30

Data for tonnes and metal reported to two significant figures to reflect appropriate precision and may not sum precisely due to rounding. Data for grades are reported to two decimal places. 'UG' denotes underground, 'SP' denotes stockpiles, 'OP' denotes open pits and 'T' denotes tailings.
1. All Mineral Resources are reported inclusive of Ore Reserves.
2. Mungari Mineral Resource represents Evolution's interest.
3. Northparkes Mineral Resource represents Evolution's interest.
4. Mineral Resources Competent Persons (CP) notes refer to: 1. Ben Reid 2. Phillip Micale 3. Darren Hurst 4. Paul Boamah 5. Ben Young 6. Riek Muller 7. Krista Sutton 8. David Richards.

This information is extracted from the release titled 'Annual Mineral Resources and Ore Reserves Statement' dated 1 May 2026 and available to view at www.evolutionmining.com. The Company confirms that it is not aware of any new information or data that materially affects the information included in the release and that all material assumptions and parameters underpinning the estimates in the release continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Persons' findings are presented have not been materially modified from the Reports.

Evolution

Group gold Ore Reserves at 31 December 2025

Gold			Proved			Probable			Total Reserves			CP1	December 2024 Reserves
Project	Type	Cut-off	Tonnes (Mt)	Gold grade (g/t)	Gold metal (Moz)	Tonnes (Mt)	Gold grade (g/t)	Gold metal (Moz)	Tonnes (Mt)	Gold grade (g/t)	Gold metal (Moz)		Tonnes (Mt)	Gold grade (g/t)	Gold metal (Moz)
Cowal	SP	0.30g/t Au	44	0.52	0.73	2.0	0.37	0.024	46	0.51	0.75	1	43	0.53	0.74
Cowal	OP	0.30g/t Au	-	-	-	110	0.78	2.7	110	0.78	2.7	1	75	0.97	2.3
Cowal	UG	1.5 - 1.8g/t Au	-	-	-	26	2.02	1.7	26	2.02	1.7	2	20	2.20	1.4
Cowal	Total		44	0.52	0.73	130	1.01	4.4	180	0.89	5.1		140	1.01	4.4
Ernest Henry	UG	0.75 - 0.8% CuEq	27	0.65	0.57	46	0.35	0.51	73	0.46	1.1	3	78	0.46	1.2
Mungari	SP	Various	-	-	-	4.0	0.67	0.086	4.0	0.67	0.086	4	3.7	0.62	0.074
Mungari	OP	0.40 - 0.55 g/t Au	-	-	-	38	1.07	1.3	38	1.07	1.3	4	43	1.04	1.4
Mungari	UG	2.20 - 2.65g/t Au	0.57	3.87	0.071	4.4	4.26	0.60	5.0	4.21	0.67	4	4.2	4.54	0.61
Mungari1	Total		0.57	3.87	0.071	47	1.33	2.0	47	1.36	2.1		51	1.30	2.1
Red Lake	T		-	-	-	6.8	1.31	0.29	6.8	1.31	0.29	5	1.3	1.60	0.068
Red Lake	UG	3.2 - 3.5g/t Au	-	-	-	11	4.57	1.7	11	4.57	1.7	6	13	4.46	1.9
Red Lake	Total		-	-	-	18	3.35	2.0	18	3.35	2.0		14	4.20	2.0
Mt Rawdon	OP	Various	-	-	-	0.50	0.58	<0.01	0.50	0.58	<0.01	7	0.98	0.48	0.015
Marsden	OP	0.3% Cu	-	-	-	68	0.36	0.79	68	0.36	0.79	8	65	0.39	0.82
Northparkes	SP	Various	2.8	0.17	0.015	-	-	-	2.8	0.17	0.015	9	3.5	0.24	0.028
Northparkes	OP	0.25% CuEq	4.0	0.25	0.032	3.3	0.21	0.023	7.3	0.23	0.055	10	5.8	0.36	0.066
Northparkes	UG	0.32 - 0.58% CuEq	1.8	0.33	0.019	67	0.28	0.60	69	0.28	0.62	9,11	72	0.27	0.63
Northparkes2	Total		8.7	0.24	0.067	71	0.28	0.63	79	0.27	0.69		81	0.28	0.73
Total			81	0.56	1.4	380	0.83	10	460	0.79	12		430	0.82	11

Data for tonnes and metal reported to two significant figures to reflect appropriate precision and may not sum precisely due to rounding. Data for grades are reported to two decimal places. "UG" denotes underground, "SP" denotes stockpiles, "OP" denotes open pits and "T" denotes tailings.
1. Mungari Ore Reserve represent Evolution's interest.
2. Northparkes Ore Reserve represent Evolution's interest.
3. Ore Reserves Competent Persons (CP) notes refer to 1. Ethan Robins 2. Peter Nichols 3. Michael Corbett 4. Ryan Bettcher 5. Ross Garling 6. Jack Carswell 7. Ben Young 8. Glen Williamson 9. Riek Muller 10. Sam Ervin 11. Sarah Webster.

Evolution

Group copper Mineral Resources at 31 December 2025

Copper			Measured			Indicated			Inferred			Total Resources			CP³	December 2024 Resources
Project	Type	Cut-off	Tonnes (Mt)	Copper grade (%)	Copper metal (kt)	Tonnes (Mt)	Copper grade (%)	Copper metal (kt)	Tonnes (Mt)	Copper grade (%)	Copper metal (kt)	Tonnes (Mt)	Copper grade (%)	Copper metal (kt)		Tonnes (Mt)	Copper grade (%)	Copper metal (kt)
Ernest Henry	UG	-0.7% Cu	31	1.34	420	49	1.24	610	25	1.13	280	100	1.25	1,300	1	110	1.26	1,400
Marsden	OP	-0.2% Cu	-	-	-	93	0.50	460	4.2	0.42	18	97	0.49	480	2	120	0.46	560
Northparkes	SP	Various	5.1	0.33	17	-	-	-	-	-	-	5.1	0.33	17	3	5.8	0.33	19
Northparkes	OP	Various	12	0.16	18	24	0.22	52	7.2	0.26	19	42	0.21	89	4	16	0.21	33
Northparkes	UG	Various	150	0.56	840	260	0.50	1,300	39	0.47	180	450	0.52	2,300	5	460	0.52	2,400
Northparkes¹	Total		170	0.53	880	290	0.48	1,400	47	0.43	200	500	0.49	2,500		480	0.51	2,400
Total			200	0.65	1,300	430	0.57	2,400	75	0.66	500	700	0.60	4,200		720	0.61	4,400

Data for tonnes and metal reported to two significant figures to reflect appropriate precision and may not sum precisely due to rounding. Data for grades are reported to two decimal places.

¹UG¹ denotes underground, "SP" denotes stockpiles, "OP" denotes open pits and "T" denotes tailings.

Northparkes Mineral Resource represents Evolution's interest.
Mineral Resources are reported inclusive of Ore Reserves.
Mineral Resources Competent Persons (CP) notes refer to: 1. Phillip Micale 2. Ben Reid 3. Riek Muller 4. Krista Sutton 5. David Richards.

Evolution

Group copper Ore Reserves at 31 December 2025

Copper			Proved			Probable			Total Reserves			CP²	December 2024 Reserves
Project	Type	Cut-off	Tonnes (Mt)	Copper grade (%)	Copper metal (kt)	Tonnes (Mt)	Copper grade (%)	Copper metal (kt)	Tonnes (Mt)	Copper grade (%)	Copper metal (kt)		Tonnes (Mt)	Copper grade (%)	Copper metal (kt)
Ernest Henry	UG	0.75 - 0.8% CuEq	27	1.07	290	46	0.56	260	73	0.75	550	1	78	0.76	600
Marsden	OP	0.3% Cu	-	-	-	68	0.56	380	68	0.56	380	2	65	0.57	370
Northparkes	SP	Various	2.8	0.29	8.2	-	-	-	2.8	0.29	8.2	3	3.5	0.30	11
Northparkes	OP	0.25% CuEq	4.0	0.37	15	3.3	0.30	10	7.3	0.34	25	4	5.8	0.36	21
Northparkes	UG	0.32 - 0.58% CuEq	1.8	0.59	11	67	0.53	360	69	0.53	370	3,5	72	0.55	390
Northparkes¹	Total		8.7	0.39	34	71	0.52	370	79	0.51	400		81	0.52	420
Total			36	0.91	330	180	0.55	1,000	220	0.61	1,300		220	0.62	1,400

Northparkes Ore Reserve represents Evolution's interest.
Ore Reserves Competent Persons (CP) notes refer to: 1. Michael Corbett 2. Glen Williamson 3. Riek Muller 4. Sam Ervin 5. Sarah Webster.

Evolution

MINING

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EVOLUTION MINING LIMITED — Investor Presentation 2026

64885_rns_2026-05-04_bc88bc71-9008-44da-b4af-2361d6b2d090.pdf

Macquarie Australia Conference 2026

Non-International Financial Reporting Standards (IFRS) financial information

Structural not cyclical:

Central bank buying

US national debt growing

Sustainable high-margin cash generation

Long life, high return portfolio with plenty of upside

Percentage repaid

Disciplined capital allocation driving sustained high returns

Further investment to enhance portfolio quality

Improving portfolio quality delivers higher shareholder returns

Delivering sustainable consistent high returns

Appendix

Appendix Portfolio overview

Mungari

Red Lake

Cowal

Northparkes

Ernest Henry

Copper is the differentiator in our portfolio

Comprises 25% - 30% sales

Northparkes – advancing our long-term growth agenda

Expansion Study aims to quantify the full potential of Northparkes

Coarse Particle Flotation Project

Expansion Study

Mine continuation study outcomes (September qtr 2025)

FS study concluded - mining to continue advancing in main cave plus additional ore sources

Ernest Henry – Bert an additional source for higher production

Ernest Henry – acquisition update

Cowal – a cornerstone asset through 2042

Oban¹

Mungari – optionality with multiple ore sources

Net mine cash flow $322M for FY26 year to date, exceeds the $212M plant expansion project

Leveraging a significant 7.2Moz Mineral Resource¹

Mungari – accelerating value through discovery

Promising Exploration Results from Mungari and Cowal

Mungari, Western Australia

Cowal, New South Wales

New discovery opportunities

Summary of key cost drivers

FY26 cash flow sensitivities ($M)¹

FY26 AISC sensitivities ($/oz)¹

Appendix Mineral Resources and Ore Reserves

Group gold Mineral Resources at 31 December 2025

Group gold Ore Reserves at 31 December 2025

Group copper Mineral Resources at 31 December 2025

Group copper Ore Reserves at 31 December 2025

Evolution

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EVOLUTION MINING LIMITED Investor Presentation 2026