• Significant improvement in safety performance with TRIF reducing to 5.44
• Record mine cash flows of $561 million (+31% QoQ) and $263 million (+53% QoQ)
• Cowal, Red Lake, and Northparkes delivered strong cash flow performance

Evolution Mining Limited reported its December 2024 quarterly results, highlighting significant improvements in safety performance, record mine cash flow generation, and consistent operational delivery across its asset portfolio. The company's total recordable injury frequency (TRIF) 12-month moving average improved by 24% to 5.44, reflecting the focus on safety. The quarter saw record operating and net mine cash flows of $561 million (+31% QoQ) and $263 million (+53% QoQ), respectively, driven by production meeting plan and a higher gold price environment. All operations were cash positive before major capital investment, with Cowal, Red Lake, and Northparkes delivering strong cash flow performance. The Mungari mill expansion project continued to progress, with early commissioning works now expected in the June 2025 quarter, about nine months ahead of schedule and 6% under the original budget. The company also received regulatory approval to extend the Cowal open pit mining operations by 10 years and overall operations to 2042. Evolution remains on track to meet its FY25 guidance of 710,000 - 780,000 oz gold and 70,000 - 80,000 t copper at an AISC of $1,475 - $1,575/oz.

At the FY25 guidance mid-point and current spot price, operating mine cash flow is expected to increase from $1,805 million to $2,005 million and mine cash flow is expected to increase from $1,570 million to $1,770 million.