EVOLUTION MINING LIMITED — Major Shareholding Notification 2018

Jul 26, 2018

LA MANCHA GROUP INTERNATIONAL B.V.

A private limited liability company organized under the laws of the Netherlands with a share capital of 6 18,000 Registered office : Prins Bernhardplein 200 1097 JB Amsterdam, The Netherlands Registration number 55617786 www.lannancha.com

Mr Evan Elstein Company Secretary Evolution Mining Limited Level 30, 175 Liverpool Street SYDNEY NSW 2000

26 July 2018

Dear Sir

Evolution Mining Limited - notice of change in substantial shareholding

Please find attached an ASIC Form 604 (Notice of change of interests of substantial holder) for La Mancha Group International B.V and its associates as listed in that form, as well as a market announcement containing details of the recent transaction.

Yours faithfully,

Karim Nasr Director La Mancha Group International B.V.

ċ,

LA MANCHA GROUP INTERNATIONAL B.V.

A private limited liability company organized under the laws of the Netherlands with a share capital of $6.18,000$ Registered office : Prins Bernhardplein 200 1097 JB Amsterdam, The Netherlands Registration number 55617786 www.lagaancha.com

Market Announcement

La Mancha Group International B.V. (La Mancha) advises that it has undertaken a block trade monetisation of shares in Evolution Mining Limited (Evolution), representing 5.4% of the current issued share capital. As a result, La Mancha's direct interest in Evolution is now 9.6%.

Citigroup Global Markets Australia Pty Limited (Citi) and J.P. Morgan Australia Limited (J.P. Morgan) completed a successful bookbuild of approximately 92 million Evolution shares after market close on 26 July 2018 at a price of A\$2.84 per share. La Mancha has been advised by J.P. Morgan and Citi that there was strong demand for the shares, including from a number of large existing institutional shareholders.

In commenting on the transaction, Mr Naguib Sawiris, Chairman of La Mancha, said:

"It is encouraging to see support amongst a broad range of investors internationally for this placement, which reflects the continuing strong performance of Jake and his team at Evolution and the investment attractiveness of the business. As we have previously communicated, La Mancha has been progressively rebalancing its portfolio over the last few months following the formation of a new investment team earlier in the year with the aim of ensuring we have the flexibility to move decisively as opportunities present themselves.

Following this transaction, La Mancha continues to be a supportive shareholder of Evolution Mining and we have every confidence that the team there will continue to deliver on the significant potential in the business."

604	page 2/2	15 July 2001

Form 604 Corporations Act 2001

Section 671B

Notice of change of interests of substantial holder

To Company Name/Scheme		Evolution Mining Limited
ACN/ARSN	084 669 036
			DEMOCRATIONS ANSWERS
Details of substantial holder (1) 1.
Name			associates being each entity listed in Annexure A (the "La Mancha Group")	La Mancha Group International B.V. (Incorporated in the Netherlands, trade register number 55617786) ("LMGI") and its
ACN/ARSN (if applicable)	N/A
There was a change in the interests of the
substantial holder on		26/7/2018
The previous notice was given to the company on		19/4/2018
The previous notice was dated		19/4/2018

2. Previous and present voting power

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows:

Class of securities (4)	Previous notice			Present notice
	Person's votes	Voting power (5)	Person's votes	Voting power (5)
IORD	253,891,807	15.00%	161.891.807	9.56%

3. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

Date of change	Person whose relevant interest changed	Nature of change (6)	Consideration given in relation to change (7)	Class and number of securities affected	Person's votes affected
26/7/2018	La Mancha Group	Off market sale	\$261,000,000	92,000,000 ORD	92,000,000

4. Present relevant interests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

Holder of	Registered	Person entitled	Nature of	Class and	Person's votes
relevant	holder of	to be registered	relevant	number of
interest	securities	as holder (8)	interest (6)	securities
lLa Mancha Group	Citicorp Nominees Pty Citicorp Nominees Ltd as custodian for Pty Ltd as custodian LMGI	for LMGI	Pursuant to sections [608(1)(a), 608(1)(b),] $ 608(1)(c)$ and $608(3)$ of the Corporations Act 2001 (Cth)	161,891,807 lordinary shares	161.891.807

$\sqrt{2}$

5. Changes in association

The persons who have become associates (2) of, ceased to be associates of, or have changed the nature of their association (9) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

Name and applicable)	(if ACN/ARSN	Nature of association ---------------------------------------
N/A		IN/A

6. Addresses

		The addresses of persons named in this form are as follows:
		Name		Address
	La Mancha Group			Luxembourg		c/- La Mancha Holding S.aR.L., 1 boulevard de la foire, L. 1528 Luxembourg, Grand Duchy of
		Citicorp Nominees Pty Ltd		Level 16, 120 Collins Street, Melbourne, Victoria 3000 Australia
	Signature
		print name	Karim Nasr			capacity	Director
		sign here				date	26/7/2018
					DIRECTIONS
(1)		is clearly set out in paragraph 6 of the form.					If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the manager and trustee of an equity trust), the names could be included in an annexure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to throughout the form as a specifically named group if the membership of each group, with the names and addresses of members
(2)				See the definition of "associate" in section 9 of the Corporations Act 2001.
(3)				See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001.
(4)				The voting shares of a company constitute one class unless divided into separate classes.
(5)				The person's votes divided by the total votes in the body corporate or scheme multiplied by 100.
(6)		Include details of:
	(a)			scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and			any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) applies, a copy of any document setting out the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract,
	(b)			securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).			any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of the
				See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.
(7)				become entitled to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a are not paid directly to the person from whom the relevant interest was acquired.			Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired has, or may, contingency. Details must be included on any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they
(8)				If the substantial holder is unable to determine the identity of the person (eg. if the relevant interest arises because of an option) write "unknown".
(9)				Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice.

Annexure A

This is Annexure A of 5 pages referred to in Form 604 Notice of change of interests of substantial holder by La Mancha Group International B.V.

Signed:

Name: Capacity:
Date: Karim Nasr Director 26/7/2018

Party/entity name	Country	ACN (if applicable)
Ms Yousriya Nassif Loza	Egypt
Marchmont Limited	Cayman Islands
Mocsaro Holding S.à r.l.	Luxembourg
Oil Technology LLC	USA
Texegy LLC	USA
New Egypt Investments Holdings S.à r.l.	Luxembourg
New Egypt Holdings BV	The Netherlands
Ezdehar Egypt MCF Coop	The Netherlands
Marchco Holding Limited	Cayman Islands
Orascom TMT Investments S.à r.l.	Luxembourg
OTMT Malta Investments 1 Limited	Malta
OTMT Acquisition S.à r.l.	Luxembourg
OTMT Acquisition II S.à r.l.	Luxembourg
OTMT Finance Investments limited	Malta
Tango SP 1 S.à r.l.	Luxembourg
Libero Acquisition S.à r.l.	Luxembourg
ItNet Srl	Italy
Mix Srl	Italy
ItaliaOnLine SPA	Italy
MOQU ADV Sri	Italy
Consodata S.p.A.	Italy

Party/entity name	Country	ACN (if applicable)
11 88 0 Solutions AG	Italy
Prontoseat S.r.I	Italy
74 companies for digital local services	Italy
DADA SPA	Italy
Clarence Srl	Italy
Register.it SPA	Italy
4W Marketplace S.r.I	Italy
Nominalia Internet SL	Spain
Agence des Medias Numeriques SAS	France
Namesco Limited	UK
Namesco Ireland	Ireland
Pounhost Internet Itd	UK
Simply Virtual Server Limited	UK
Simply Transit Itd	UK
Sfera Networks S.r.l.	Italy
Amen Nederland BV	The Netherlands
Amenworld-Servicos Internet, Sociedade Unipessoal Lda	Portugal
Etinet S.r.I	Italy
Fueps SPA	Italy
IntY Holdings Limited	UK
Inty Egypt L.LC Co	Egypt
Inty Cascade Limited	Ireland
IntY Limited	UK
InTY USA Inc	USA
ACDC Fund LP	Cayman Islands
ACDC Holdings S.à.r.l	Luxembourg
Supernap International SA	Luxembourg
Supernap Canada Inc	Canada

Vin

Party/entity name	Country	ACN (if applicable)
Supernap Italia Srl	Italy
Open Hub Med Scrl	Italy
Supernap (Thailand) Company Limited	Thailand
Orascom Telecom Media and Technology Holding SAE	Egypt
O Capital for Services & Contracting	Egypt
O Capital for Energy S.A.E.	Egypt
Middle East and North Africa fir Sea Cables	Egypt (Free zone II)
Societa' del Medioriente & Nord Africa per i Cavi Marittimi Srl	Italy
Trans World Associates (Ptv) Ltd	Pakistan
TES Media (Private) Limited	Pakistan
Trans World Enterprise Services (Private) Limited	Pakistan
Trans World Infrastructure Services (Private) Limited	Pakistan
CHEO Technology JV Company	DPKR
Orascom Telecom Ventures SAE	Egypt
Orascom Telecom Lebanon SAL	Lebanon
Oracap Holding Co.	Port Tawfic Free Zone I (Egypt)
Oracap Far East Limited	Malta
Beltone Financial Holding S.A.E.	Egypt
Beltone Assets Management S.A.E.	Egypt
Misr Beltone for management of funds administration	Egypt
Beltone Investment Banking S.A.E.	Egypt
Beltone Investment Holding - Free Zone S.A.E.	Egypt
Beltone for information Technology S.A.E.	Egypt
Skidmore	Egypt
Beltone Market Maker S.A.E.	Egypt
Beltone Securities Holding S.A.E.	Egypt

Party/entity name	Country	ACN (if applicable)
Beltone Securities Brokerage S.A.E.	Egypt
Beltone Financial Securities Emirates	Egypt
Beltone Fixed Income S.A.E.	Egypt
International For Security Company - Libya	Libya
Beltone Financial - USA	USA
Beltone Financial - UK	UK
Beltone EFT EGX 30	Egypt
Beltone Administration Dawleya for Fund Administration Service	Egypt
New Frontier Securities LLC	USA
Beltone for real Estate	Egypt
Victoire Investment Holding Coöperatie U.A.	The Netherlands
Victoire Investment Co B.V.	The Netherlands
Victoire 2	Brazil
Victoire 9	Brazil
Victoire 11	Brazil
Victoire 13	Brazil
Victoire 17	Brazil
Victoire 18	Brazil
Victoire 19	Brazil
La Mancha Holding S.à r.l.	Luxembourg
La Mancha Precious Metals SA	Luxembourg
La Mancha Group International B.V.	The Netherlands
La Mancha Capital B.V.	The Netherlands
Evolution Mining Ltd	Australia
La Mancha Africa S.à r.l.	Luxembourg
La Mancha Mali	Mali
La Mancha Amalco Holdings Pty Ltd	Australia	163 023 498
Minera Patagonia SA	Argentina

$U\sim$

Party/entity name	Country	ACN (if applicable)
COMINOR SAS	France
La Mancha Sudanese Mining Co Ltd	Sudan
La Mancha Africa Holding Ltd	Malta
Endeavour Mining Corp	Cayman Islands
March Fund Holdings	Cayman Islands
March Capital Investment S.à r.l.	Luxembourg
OTMT Malta Investments DWC Ltd	Malta
OTMT Malta Investments Monreith Ltd	Malta
OTMT Malta Investments FE Ltd	Malta
HOF Capital GCI Fund (Cayman) LP	Cayman Islands
March Capital Holding S. à r.l.	Luxembourg
Riverbank SA	Luxembourg

$\cdot$

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