• Stable safety performance with TRIF at 5.42
• Record group mine cash flows - operating $600 million (+7% QoQ) and net $303 million (+15% QoQ)
• Continued growth in group cash flow up 25% to $207 million

Evolution Mining Ltd reported its March 2025 Quarterly Report, highlighting a stable safety performance with a Total Recordable Injury Frequency (TRIF) of 5.42. The company achieved record group mine cash flows, with operating cash flow of $600 million (+7% QoQ) and net mine cash flow of $303 million (+15% QoQ). Group cash flow increased by 25% to $207 million, and the cash balance grew by $141 million to $661 million. The company is on track to meet its FY25 guidance of 710,000 - 780,000 ounces of gold and 70,000 - 80,000 tonnes of copper at an All-in Sustaining Cost (AISC) of $1,475 - $1,575 per ounce. Key projects include the Mungari mill expansion, which was delivered ahead of schedule and under budget, and the Cowal Open Pit Continuation (OPC) project, which was approved by the Board and extends operations to 2042. The company also announced the Queensland Government's support for the Mount Rawdon Pumped Hydro project, which is expected to facilitate low-cost green power and provide jobs to the community.

FY25 guidance unchanged at 710,000 - 780,000oz gold and 70,000 - 80,000t copper at an AISC of $1,475 - $1,575/oz. The approval of the Cowal OPC project will result in $65-70 million in Major Project Capital and ~$5 million Major Mine Development being added to FY25 Guidance.

Evolution Mining is on track to meet its FY25 guidance and expects even stronger cash generation to continue in the June quarter. The Cowal OPC project, which extends operations to 2042, is expected to contribute an additional 2 million ounces of gold in incremental production.