Evolution Mining (EVN) Investor update summary

Strategic portfolio management and growth

• Focus on value creation through disciplined asset acquisition, divestment, and portfolio optimization over 15 years, resulting in a 17-year reserve life and an average 18% return on investment.

• Production has grown from 680,000 oz to 920,000 oz gold equivalent over five years, with a 6% CAGR, driven by both organic and inorganic growth.

• Margin expansion has outpaced industry averages, supported by cost discipline, portfolio upgrades, and increased copper exposure.

• Copper assets (Ernest Henry, Northparkes) provide a competitive edge amid rising global copper demand and supply constraints.

• Five strategic pillars guide execution: sustainability, high-performing culture, portfolio building, financial discipline, and risk management.

Production and growth guidance

• Gold production guidance for FY27 is 660–730 koz, with copper production at 63–70 kt.

• Group production is weighted to H2 FY27, linked to Cowal underground ramp-up and new mining areas at Red Lake.

Margin, cost discipline, and returns

• Sector-leading margins achieved through cost discipline, portfolio optimization, and favorable metal prices.

• FY27 AISC guidance is $1,795–$1,995/oz, with major project and mine development capital allocated to key assets.