Acquisition of an economic interest in the Ernest Henry copper-gold operation and pro rata entitlement offer to raise A$400 million

Evolution Mining Limited (“Evolution” or the “Company”) is pleased to announce that it has, through a wholly owned subsidiary, entered into a transaction with Glencore plc (“Glencore”) to acquire an economic interest in Glencore’s Ernest Henry operation (“Ernest Henry”) for A$880 million1. In addition, Evolution has entered into a strategic alliance with Glencore in respect of potential future regional acquisitions and the parties have made a commitment to cooperate on exploration activities in the region surrounding Ernest Henry (collectively, the “Transaction”).

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