Rights Issue Closes Oversubscribed

• Rights issue seeking to raise $4 million closes oversubscribed
• Significant support from existing shareholders and new investors
• Additional $150,000 raised through a top-up placement

Evolution Energy Minerals Ltd (ASX: EV1) is pleased to announce that its renounceable rights issue announced on 10 February 2026 has closed significantly oversubscribed, raising approximately $4 million (before costs). The company will also undertake a top-up placement to raise an additional $150,000, bringing the total amount raised to $4.18 million (before costs). The proceeds from the rights issue and the follow-on placement will be used for exploration of the Chikundo Copper Project, resource development of the Chilalo Graphite Project, repayment of a short-term loan, and working capital. Mahe Capital Pty Ltd acted as Lead Manager and Underwriter to the rights issue and advised the company on the rights issue and the follow-on placement.