Evolution Mining (EVN) investor relations material

Executive summary

• Record statutory profit up 119% to $926M and underlying profit doubled to $958M year-over-year, with EPS up 111% to $0.46 per share, all setting new company records.

• EBITDA reached a record $2,161M at a 51% margin; group cash flow nearly $800M, up 114% year-over-year, outpacing a 35% increase in gold price.

• Final dividend of $0.13 per share, fully franked, about 3x last year's, with total FY dividend at $0.20 per share; $400M returned to shareholders.

• Mungari expansion completed under budget and ahead of schedule; Cowal OPC approved, supporting future growth.

• Sustainability progress: TRIF improved 35% to its lowest point, over halfway to 2030 net zero target with a 16% reduction.

Financial highlights

• Statutory profit after tax rose 119% year-over-year to $926M; underlying profit after tax up 99% to $958M.

• EBITDA increased 51% to $2,161M; underlying EBITDA up 46% to $2,207M; EBITDA margin improved to 51%.

• Operating mine cash flow grew 49% to $2,288M; net mine cash flow up 78% to $1,035M.

• Earnings per share reached $0.46, up 111% year-over-year; record fully franked final dividend of $0.13 per share, ~3x FY24.

• Group cash flow more than doubled to $787M; gearing reduced to 15% from 25%.

Outlook and guidance

• FY26 production guidance: 710,000–780,000 oz gold and 70,000–80,000 t copper; AISC $1,720–$1,880/oz.

• Group capital expenditure expected at $780–980M, about $200M lower than FY25; sustaining capital $200–270M.

• Five-year plan for total capital investment remains $750M–$950M per annum.

• FY26 mine operating cash flow guidance midpoint at $2,755M, up from $2,290M actual in FY25.

• Shareholders to receive half of extra $500M cash flow in dividends if spot price holds.