• Completion of A$4.18 million capital raising
• Completion of large-scale soil sampling program at Chikundo Copper Project
• Identification of priority drill target zones at Chikundo Copper Project
• Ongoing engagement with Tanzanian Mining Commission for Mining Licence ML 716/2023

During the March 2026 quarter, Evolution Energy Minerals Ltd's activities were focused on advancing exploration at the Chikundo Copper Project, strengthening the Company's corporate position with a successful capital raising, and continuing regulatory engagement in Tanzania in relation to its mining licence. Key activities included the completion of a A$4.18 million capital raising, the completion of a large-scale soil sampling program (1,558 samples) across the Chikundo Copper Project, the identification of priority drill target zones following reinterpretation of airborne electromagnetic (VTEM) data, and ongoing engagement with the Tanzanian Mining Commission in relation to Mining Licence ML 716/2023. The Company also continued advancement of funding and development pathways for the Chilalo Graphite Project. The reinterpretation of the VTEM data has refined the geological model for copper mineralisation at the Chikundo Copper Project, indicating that copper mineralisation is likely controlled by a combination of stratigraphy and structure. Several priority target zones have been identified, and the results from the recent soil sampling program will be integrated to further refine and prioritize these targets. The Company continues to prioritize activities within Tanzania, including technical, regulatory and stakeholder workstreams, to support project development.