Evolution Mining (EVN) AGM 2024 summary

Opening remarks and agenda

• Introduced board members, new directors, and leadership team, highlighting transitions and retirements.

• Outlined the meeting agenda, including formal business, company update, and Q&A.

• CEO Lawrie Conway led the 2024 AGM, focusing on Evolution Mining's vision to be a premier global gold company.

Financial performance review

• Achieved record financial performance in FY24, with net profit up 135% to $482 million and EBITDA margin rising to 47%.

• Cash flow increased 417% to AUD 367 million, enabling reduction in gearing from 33% to 22%.

• Declared two dividends in FY24, totaling 23 consecutive dividends since 2013, and increased full-year dividend by 75%.

• Q1 FY25 saw record cash flow at Red Lake and group cash flow of $108M; cash balance increased to $484M, with gearing reduced to 23.9%.

• Contributed AUD 2.7 billion to Australian and Canadian economies, including AUD 419 million to local businesses.

Board and executive committee updates

• Jim Askew retired after 13 years; Fiona Hick joined the board and is up for election.

• Leadership team expanded with new COO and CTO appointments.

• Board unanimously supported Fiona Hick’s election; Jason Attew re-elected as director.