EVOLUTION MINING LIMITED — Share Issue/Capital Change 2023

Sep 19, 2023

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Announcement Summary

Entity name

EVOLUTION MINING LIMITED

Date of this announcement

Wednesday September 20, 2023

The +securities the subject of this notification are:

+Securities issued under an +employee incentive scheme that are subject to a restriction on transfer and are not being quoted on ASX until the restriction ends

Total number of +securities to be issued/transferred

		Total number of
ASX +security		+securities to be
code	Security description	issued/transferred	Issue date
EVNAS	PERFORMANCE RIGHT	12,936,595	15/09/2023

Refer to next page for full details of the announcement

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Part 1 - Entity and announcement details

1.1 Name of entity

EVOLUTION MINING LIMITED

We (the entity named above) give notice of the issue, conversion or payment up of the following unquoted +securities.

1.2 Registered number type

ABN

Registration number

74084669036

1.3 ASX issuer code

EVN

1.4 The announcement is

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New announcement

1.5 Date of this announcement

20/9/2023

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Part 2 - Issue details

2.1 The +securities the subject of this notification are:

+Securities issued under an +employee incentive scheme that are subject to a restriction on transfer and are not being quoted on ASX until the restriction ends

2.2a This notification is given in relation to an issue of +securities in a class which is not quoted on ASX and which:

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has an existing ASX security code ("existing class")

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Part 3B - number and type of +securities the subject of this notification (existing class) where issue has not previously been notified to ASX in an Appendix 3B

Additional +securities in an existing class issued under an +employee incentive scheme

ASX +security code and description

EVNAS : PERFORMANCE RIGHT

Date the +securities the subject of this notification were issued

15/9/2023

Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class Yes

Were any of the +securities issued to +key management personnel (KMP) or an +associate? Yes

Provide details of the KMP or +associates being issued +securities.

Name of KMP	Name of registered holder	Number of +securities
Jacob Klein	Same	898,858
Lawrie Conway	Same	1,047,812
Robert Fulker	Same	457,867
Barrie Van Der Merwe	Same	457,867
Glen Masterman	Same	358,810
Evan Elstein	Same	343,401
Paul Eagle	Same	343,401
Fiona Murfitt	Same	344,868

Please provide a URL link for a document lodged with ASX detailing the terms of the +employee incentive scheme or a summary of the terms

Each Performance Right is an entitlement to receive one fully paid ordinary share in EVN, subject to meeting performance conditions. For further details, please refer to the EVN's 2022 Notice of Annual General Meeting, which contains a summary of the terms of the grant to the Executive Chair and to the Finance Director and Chief Financial Officer, which have the same terms and performance conditions as the Performance Rights describes herein. https://evolutionmining.com.au/wp-content/uploads/2022/10/2457612_Notice-of-Meeting.pdf

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Any other information the entity wishes to provide about the +securities the subject of this notification

The Performance Rights issued to Mr. Klein and Mr. Conway are subject to shareholder approval at the next general meeting of shareholders scheduled for 23 November 2023.

Issue details

Number of +securities

12,936,595

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Part 4 - +Securities on issue

Following the issue, conversion or payment up of the +securities the subject of this application, the +securities of the entity will comprise:

(A discrepancy in these figures compared to your own may be due to a matter of timing if there is more than one application for quotation/issuance currently with ASX for processing.)

4.1 Quoted +Securities (Total number of each +class of +securities quoted)

	Total number of
ASX +security code and description	+securities on issue
EVN : ORDINARY FULLY PAID	1,837,183,868

4.2 Unquoted +Securities (Total number of each +class of +securities issued but not quoted on ASX)

	Total number of
ASX +security code and description	+securities on issue
EVNAA : SHARE RIGHTS	164,767
EVNAS : PERFORMANCE RIGHT	33,532,644

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Part 5 - Other Listing Rule requirements

5.1 Were the +securities issued under an exception in Listing Rule 7.2 and therefore the issue did not need any security holder approval under Listing Rule 7.1? No

5.2 Has the entity obtained, or is it obtaining, +security holder approval for the issue under listing rule 7.1? No

5.2b Are any of the +securities being issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1? Yes

5.2b.1 How many +securities are being issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1?

12,936,595

5.2c Are any of the +securities being issued without +security holder approval using the entity's additional 10% placement capacity under listing rule 7.1A (if applicable)? N/A

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