Investor presentation delivered by Evolution Mining's Executive Chairman Jacob Klein at the Gold Investment Symposium held in Sydney 8th and 9th October 2014

1. Evolution Mining
The Gold Investment Symposium
8 October 2014
Jake Klein – Executive Chairman

2. 2
ThesematerialspreparedbyEvolutionMiningLimited(or“theCompany”)includeforwardlookingstatements.Often,butnotalways, forwardlookingstatementscangenerallybeidentifiedbytheuseofforwardlookingwordssuchas“may”,“will”,“expect”,“intend”, “plan”,“estimate”,“anticipate”,“continue”,and“guidance”,orothersimilarwordsandmayinclude,withoutlimitation,statementsregardingplans,strategiesandobjectivesofmanagement,anticipatedproductionorconstructioncommencementdatesandexpectedcostsorproductionoutputs
Forwardlookingstatementsinherentlyinvolveknownandunknownrisks,uncertaintiesandotherfactorsthatmaycausetheCompany’sactualresults,performanceandachievementstodiffermateriallyfromanyfutureresults,performanceorachievements. Relevantfactorsmayinclude,butarenotlimitedto,changesincommodityprices,foreignexchangefluctuationsandgeneraleconomicconditions,increasedcostsanddemandforproductioninputs,thespeculativenatureofexplorationandprojectdevelopment,includingtherisksofobtainingnecessarylicensesandpermitsanddiminishingquantitiesorgradesofreserves,politicalandsocialrisks, changestotheregulatoryframeworkwithinwhichtheCompanyoperatesormayinthefutureoperate,environmentalconditionsincludingextremeweatherconditions,recruitmentandretentionofpersonnel,industrialrelationsissuesandlitigation
ForwardlookingstatementsarebasedontheCompanyanditsmanagement’sgoodfaithassumptionsrelatingtothefinancial,market, regulatoryandotherrelevantenvironmentsthatwillexistandaffecttheCompany’sbusinessandoperationsinthefuture.TheCompanydoesnotgiveanyassurancethattheassumptionsonwhichforwardlookingstatementsarebasedwillprovetobecorrect,orthattheCompany’sbusinessoroperationswillnotbeaffectedinanymaterialmannerbytheseorotherfactorsnotforeseenorforeseeablebytheCompanyormanagementorbeyondtheCompany’scontrol
AlthoughtheCompanyattemptsandhasattemptedtoidentifyfactorsthatwouldcauseactualactions,eventsorresultstodiffermateriallyfromthosedisclosedinforwardlookingstatements,theremaybeotherfactorsthatcouldcauseactualresults,performance, achievementsoreventsnottobeasanticipated,estimatedorintended,andmanyeventsarebeyondthereasonablecontroloftheCompany.Accordingly,readersarecautionednottoplaceunduerelianceonforwardlookingstatements.Forwardlookingstatementsinthesematerialsspeakonlyatthedateofissue.Subjecttoanycontinuingobligationsunderapplicablelaworanyrelevantstockexchangelistingrules,inprovidingthisinformationtheCompanydoesnotundertakeanyobligationtopubliclyupdateorreviseanyoftheforwardlookingstatementsortoadviseofanychangeinevents,conditionsorcircumstancesonwhichanysuchstatementisbased
Forward looking statements

3. Australian mid-tier gold producer
1.At 2October 2014 (share price A$0.70)
2.3 month average to 2October 2014
3.At 30 June 2014
Corporate Information
ASX Code
EVN
Shares
712M
Market Capitalisation1
A$500M
DailyTurnover2
A$1.6M
MajorShareholders
Newcrest 32.4% VanEck 10.1%
Allan Gray8.7%
Cash & unsolddoré3
A$41.3M
Debt3
A$126.8M
Available Credit
A$73.2M
Forward Sales3
164,319oz at A$1,597/oz
Dividend Policy
2% of gold revenue
Production Guidance FY15
400koz -440koz AuEq
AISC A$1,050/oz–A$1,130/oz
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4. Highlights
FY14 production of 428koz AuEq
Development of Mt Carlton
3 straight years of achieving guidance
Strong financial position
Exciting exploration pipeline
4

5. Growing production
302,842 oz
346,979 oz
392,886 oz
427,703 oz
FY2011
FY2012
FY2013
FY2014
Gold Production FY2011 –FY2014
Group Gold Equivalent Production
* Assumes pro forma ownership of current assets over FY11 and FY12
We say, We do, We deliver
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6. Three pillars
Operations
Discovery
M&A
Act like owners to maintain a cost and productivity focus over the longer term
Using science and technology to improve probability of transformational discoveries
Improve the quality of asset portfolio through opportunistic, logical, value accretive acquisitions
Creating shareholder value
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7. Operations
Notes relevant to the gold equivalence (AuEq) calculation for silver and copper in the Mt Carlton Reserve:
•The calculation is based on commodity prices of A$1,350/ozfor gold, 91% for silver and A$3.00/lbfor copper
•The calculation uses metallurgical recovery to concentrate of 89.0% for gold, 91.0% for silver and 91.0% for copper at V2 and88.0% for silver and 92.0% for copper at A39 –based on recent plant performance
•AuEqfor Silver = ((Price Ag per ozx Ag Recovery)/(Price Au per oz)) x Ag Grade
The information is extracted from the ASX announcement “Annual Mineral Resources and Ore Reserve Statement” created on 25 June 2014 and is available to view on www.evolutionmining.com.au. Evolution confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and in the case of estimates of Mineral Resources or Ore Reserves, that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed
•AuEqfor Copper = ((Price Cu per lbx 2204.623) x (Cu Recovery)) / ((Price Au per oz/ 31.1034768) x (Cu grade / 100)). Using a conversion factor of 1 Troy Ounce = 31.1034768 grams
•All the elements included in the gold equivalent calculation (ie. silver and copper) have been recovered and sold there is a reasonable potential that this will continue to be the case
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Asset
Cracow
Pajingo
Edna May
Mt Rawdon
Mt Carlton
Location
Queensland
Queensland
Western Australia
Queensland
Queensland
Mine Type
Underground
Underground
Open Pit
Open Pit
Open Pit
PlantCapacity (ktpa)
550
650
2,800
3,600
800
Resources (kozAuEq)
724
923
1,145
1,234
1,278
Reserves (kozAuEq)
260
155
402
862
947
Reserve Grade (Au g/t)
5.9
6.2
1.1
0.9
3.0
Mine Life (years)
6
5
6
9
12
FY15 Production Guidance (kozpa)
90 –95
65 –72.5
80 –90
100 –110
65 –72.5

8. Cash generation
FY14 EBITDA of A$207.6 million and NPAT of A$50.0 million
Operations were cash positive post capital investment
0
10
20
30
40
50
60
70
Mt Rawdon
Cracow
Mt Carlton
Edna May
Pajingo
A$M
FY14 Underlying Site EBITDA vsCapex
Sustaining Capex
Growth Capex
Underlying site EBITDA
* Site EBITDA is before all corporate administration costs, non-recurring items and exploration expenses
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9. Cost reductions
A$91.0 million in mine operating cash flow generated in FY14
Act like owners to drive productivity
89.4
85.7
76.4
53.0
56.0
46.8
73.2
35.0
38.3
40%
41%
52%
30%
42%
29%
47%
29%
33%
Cracow
Pajingo
Mt Rawdon
Edna May
Mt Carlton
Total mining cost FY13
Total mining cost FY14
EBITDA Margin FY13
EBITDA Margin FY14
Note: Mt Carlton commercial production declared on 1 July 2013
Mining costs and EBITDA margins FY14 vsFY13 (A$M)
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10. Substantial cost savings following transition to owner-miner at Cracow (July 2013) of $18M in FY14 (or $200/ozAISC saving)
Successfully transitioned to owner-miner at Mt Rawdon in July 2014
Shift to owner miner
Cracow water truck –CAT
Mt Rawdon haul truck –Terex MT3300
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11. Smarter drill & blast at Mt Rawdon
Blasting improvements show significant cost benefits
Estimated ~$5Mpa cost reductions following drill and blast optimisation project
Large diameter (203mm) blast holes, 15m benches (from 10m), plus electronic detonation (Unitronic600) has improved productivity
45% decrease in production blast holes, allowing a 33% reduction in drill fleet
25% decrease in blast related shutdowns (increased blast size and combination blasts)
10% increase in excavation rates
40% reduction in rock breaker hours
10% increase in plant throughput
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12. Voluntary turnover¹ has halved since March 2013 representing a cost saving in the order of A$2Mpa
Reflects a more competitive labour force and increased focus on quality of hire
Reduction in voluntary turnover
1. Voluntary turnover (12 months rolling) –includes permanent employees who have resigned in the previous 12 months as a percentage of average permanent headcount
10%
15%
20%
25%
30%
Mar-13
Jun-13
Sep-13
Dec-13
Mar-14
Jun-14
Group Voluntary Turnover (%)
Voluntary Turnover
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13. Build competent, experienced team
thinking like scientists
Asset priority and ranking
Innovative 3D seismic viewing structures at depth
4D modelling integrating geological time for better understanding
Alteration and geochemical mapping at Mt Carlton
Framework & proof of concept drilling
Exploration drilling in FY15 testing targets from 4D studies
Discovery
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Investing A$20.0M per year to target transformational discoveries through brownfields and greenfieldsexploration

14. 3D Seismic survey completed
3D paleo-stress model completed
“Ant tracking” 3D fault interpolation
Seismic calibration drilling identified new epithermal structure
Anomalous gold, silver and tellurium results
Quartz-adularia veining identified
Testing of targets underway
New lode identified between Empire and Coronation –named Imperial
400m zone between Coronation and Empire
Cracow exploration
Depth slice of 3D seismic survey at 484m below surface. Grey lines represent faults, some of which correspond to the location of known faults and epithermal orebodies.
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15. Pajingoexploration
2D seismic line provided proof of concept
3D seismic survey and initial processing completed
Exploration review and targeting underway
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3 kilometre depth
2D Seismic Image Across PajingoField
Syn-mineral extensional faults
Post-mineral inversion faults
Stratigraphic markers in volcanic sequence

16. Tennant Creek exploration
JV agreement with EmmersonResources over Tennant Creek gold- copper project
Historically one of Australia’s highest grade gold and copper fields with production of 5.5Moz gold and 470,000t copper
Application of new technology could uncover many more high grade deposits
Recent results from Chariot East:
2m @ 7.36 g/t gold from 130m in CHRC286
4m at 11.8g/t gold from 111m in CHRC287
7m at 3.14g/t gold from 130m in CHRC288
Source: EmmersonResources company presentation
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17. Source: KPMG M&A Global Research Report 1999
Portfolio management
Create value through logical, opportunistic acquisitions
Leverage off strong operational performance to upgrade the quality of the portfolio over time
Make geological calls –backing our discovery team
Divest underperforming assets if a fair price can be achieved
Exercise discipline and patience
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18. Australia
Delivery
Delivering on guidance since creation
Delivering a significant growth project
Delivering on exploration upside
Gold dividend
Dividend linked to gold production and gold price
Growth
Exploration funded through strong cash flow
Opportunistic, logical acquisitions
Low risk -First World jurisdiction
Second largest gold producer globally
Globally competitive on costs -and improving
The Evolution value proposition
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