EVOLUTION MINING LIMITED — M&A Activity 2015

Dec 7, 2015

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To: Company Announcements Office; and Phoenix Gold Limited

From: The Company Secretary

ABN: 74 084 669 036 P 02 9696 2900 F 02 9696 2901

Level 30 175 Liverpool Street Sydney, NSW 2000 www.evolutionmining.com.au

Date: 8 December 2015

Subject: Notice of status of defeating conditions

Evolution Mining Limited ( Evolution ) has made offers under an off-market takeover bid for all the ordinary shares in Phoenix Gold Limited ABN 55 140 269 316 ( Phoenix ) that it does not already own ( Offers ). The Offers are contained in a bidder’s statement dated 11 September 2015 (and any supplements or variations) ( Bidder’s Statement ).

For the purposes of section 630(3) of the Corporations Act 2001 (Cth), Evolution gives notice that:

• 1 so far as it knows, the condition in section 13.8(b) (Evolution Share price condition) of the Bidder’s Statement has been fulfilled;

• 2 the Offers have been freed of the remaining defeating conditions contained in section 13.8 of the Bidder’s Statement; and

• 3 its voting power in Phoenix is 82.16%.

Yours Sincerely

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Evan Elstein

Company Secretary

Evolution Mining Limited

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