Evolution Mining 2013 Half Year Financial Results For the six month period ending 31 December 2012

21 February 2013

Tim Churcher – VP & Chief Financial Officer

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Disclaimer

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This presentation has been prepared by Evolution Mining Limited (“Evolution Mining”) and consists of slides

for a presentation concerning the company. By reviewing/attending this presentation, you acknowledge and

agree the following.

This presentation includes forward-looking statements. Forward-looking statements inherently involve

subjective judgement and analysis and are subject to a number of risks, uncertainties, contingencies and other

factors, many of which are outside the control of, and may be unknown to, Evolution Mining. As such, actual

results or performance may vary materially from those expressed or implied by forward-looking statements.

The types of factors that could cause such variation in actual results or performance include (without

limitation) commodity prices, operational problems and general economic conditions. Given these factors,

undue reliance should not be placed on forward-looking statements, which speak only as at the date of this

presentation. Subject to any continuing obligations under applicable law or any relevant stock exchange

listing rules, Evolution Mining does not undertake any obligation to publicly update or revise any forward-

looking statements contained in this presentation, including (without limitation) where Evolution Mining’s

expectations change in relation to such statements and where there is a change in events, conditions or

circumstances providing the basis for any such statement.

No representation or warranty, express or implied, is made as to the accuracy, completeness, reliability,

fairness or correctness of the information contained in this presentation. To the maximum extent permitted by

law, Evolution Mining and its related bodies corporate and affiliates, and each of their respective directors,

officers, employees, agents and representatives, disclaim any liability or responsibility for loss or damage

arising from or in connection with the use of the information contained in this presentation.

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Group gold production of 196,110 ounces – exceeding guidance

Group average cash costs of A$749/oz – within guidance

Underlying EBITDA increased by 151% to $135.5M

Net profit increased by 327% to $40.7M

Strong balance sheet with cash of $49.2M and debt of $81.8M

(7% gearing at 31 December 2012)

Gold-linked dividend policy of 2% of gold production announced

H1 FY13 Highlights

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Note: All $ figures refer to A$ unless otherwise stated.

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Financial Summary – H1 FY13

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Reported Net Profit of A$40.7 million

(1) Underlying EBITDA, EBIT and Net Profit are non-IFRS financial information and are not subject to audit. (2) The estimate of expenses relating to the acquisition of Conquest Mining Limited and the Newcrest mine assets. This expense was revised to $19.96M at 30 June 2012. (3) The estimate of the fair value uplift of Evolution’s existing 30% interest in the Cracow Gold Mine. This estimate was revised to $1.93M at 30 June 2012.

6 months ending 31 Dec 2012 31 Dec 2011 % Increase

A$’000 $’000 (Decrease)

Total Revenue 321,642 154,615 108%

Underlying EBITDA (1) 135,468 54,066 151%

Underlying EBIT (1) 63,600 23,887 166%

Underlying Net Profit (1) 40,687 14,134 188%

Business combination costs (2) 0 (29,427)

Fair value uplift of 30% Cracow (3) 0 8,097

Other tax effected amounts 0 (10,750)

Reported Net Profit 40,687 (17,946) For

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37,089oz 46,687oz

28,444oz 54,324oz

21,229oz

39,991oz

12,367oz

53,107oz

0

50,000

100,000

150,000

200,000

250,000

H1 FY12 H1 FY13

Pro

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Delivering on guidance

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Production and Cost - H1 FY13

Group production 196,110oz (a 98% increase) at $749/oz cash cost

Cash cost $732/oz

Cash cost $749/oz Mt Rawdon

Pajingo

Cracow

Edna May

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Revenue from gold and silver sales increased by 108% to $321.6M

Edna May Crushing Circuit

Sales Revenue – H1 FY13

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Very strong financial position

$88,847 $85,113 $81,220

$66,462

$1,633/oz $1,628/oz $1,628/oz $1,633/oz

1,550

1,600

1,650

1,700

1,750

0

25,000

50,000

75,000

100,000

125,000

150,000

Cracow Mt Rawdon Edna May Pajingo

Au

Pri

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(A

$/o

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Sale

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A$'0

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A$48,567

A$39,270

A$35,111

A$29,458

0

20,000

40,000

60,000

Mt Rawdon Cracow Edna May Pajingo

EB

ITD

A (

A$'0

00)

32% 23% 19% 26%

Mine EBITDA – H1 FY13

Underlying Mine EBITDA was $152.4M (pre corporate & exploration)

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Contribution to Mine EBITDA

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A$382M

A$256M

A$202M A$172M A$163M

0

100

200

300

400

500

Mt Carlton Mt Rawdon Pajingo Cracow Edna May

Asset

Base (

A$M

) an

d D

&A

C

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$13.6M

$339/oz $19.7M

$362/oz

Mine D&A – H1 FY13

Depreciation & Amortisation (D&A) charge of $71.5M ($364/oz)

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Asset base (PP&E + Mine Development)

D&A

Charge in

H1 FY13

$28.5M

$536/oz

$9.7M

$199/oz For

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Mine EBIT – H1 FY13

Underlying mine EBIT of $81.0M (pre corporate & exploration)

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$25,401

$20,076 $19,582

$15,895

0

10,000

20,000

30,000

Edna May Mt Rawdon Cracow Pajingo

Un

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ine

EB

IT(A

$'0

00

)

31% 25% 24% 20%

Contribution to Mine EBIT

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Group Cash Flow – H1 FY13

$141.7

$322.8

$167.0

$37.2 $16.1 $21.4

$218.7

$45.0 $49.2 0

50

100

150

200

250

300

350

400

450

500 Cash Flow – six months to 31 December 2012

A$ m

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$213M of mine capital additions

51% related to Mt Carlton

Remainder predominantly on

accelerated mine development at

operations

Strong balance sheet

Net assets of $1,098M

Cash of $49.2M

Debt drawn to $81.8M

7% gearing at 31 Dec 2012

Undrawn debt capacity $118M

Balance Sheet – 31 Dec 12

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$109.6M

$22.6M

$34.2M

$17.0M

$30.0M

H1 FY13 Mine capital Investment Total $213M

Mt Carlton Cracow Pajingo

Edna May Mt RawdonFor

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Translated predictable operating performance into predictable financial

performance

Delivered profit, operating cash flow and investment in growth

Have reached peak funding with minimal gearing

Introduced gold-linked dividend policy to enhance shareholder returns

Financially in the right place at the right time

The new, leading Australian gold producer

We Say, We Do, We Deliver

Evolution Mining

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