Lifezone Metals Limited · NYSE:LZM
Lifezone Metals — Investor Presentation (July 2023)
50 slides from Lifezone Metals's investor presentation, July 2023
Slide 1: Investor Presentation
Investor Presentation July 2023 NYSE: LZM
Slide 2: Disclaimer
DISCLAIMER This presentation (this “Presentation”) is provided for informational purposes only and has been prepared to provide interested parties with certain information about Lifezone Metals Limited and its subsidiaries (collectively, “Lifezone”, “Lifezone Metals” or the “Company”) and for no oth
Slide 3: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS Certain statements made in this Presentation are not historical facts but may be considered “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), Section 21E of the Securities Exchange Act of 1934,
Slide 4: Overview
OVERVIEW 〉 Company Snapshot, Leadership and Board 〉 Industry Backdrop 〉 Kabanga Nickel Project and Kahama Refinery, Tanzania 〉 Lifezone Hydromet Technology 〉 Lifezone Metals Commercial Model 〉 Sustainability 〉 Appendix 4
Slide 5: Lifezone Metals | Company Snapshot
Lifezone Metals | Company Snapshot A modern metals company enabling a cleaner metals supply chain(1) Mission Why Invest? • To provide commercial access to proprietary technology and cleaner metals production using a scalable platform(1) Asset 80% Representation of nickel as critical mineral in lithi
Slide 6: ESG Snapshot | Intrinsic Benefits of Lifezone Metals Hydromet Technology
ESG Snapshot | Intrinsic Benefits of Lifezone Metals Hydromet Technology Every Lifezone Hydromet refinery and license is an incremental step in reducing the impact of smelting globally Estimated up to 73% less CO2 emissions (1)(2); Refined end-product Zero SO2 emissions (1) translates into reduced f
Slide 7: ESG Snapshot | Kabanga Nickel Project
ESG Snapshot | Kabanga Nickel Project Kabanga Mine ESIA approved June’23, Kahama Refinery ESIA submitted(1) Environment • Hydromet eliminates SO2 emissions and reduces CO2 emission up to 73%(2) • Tailings used for mine backfill, reducing surface tailings • Operational power generation from Rusumo Hy
Slide 8: Lifezone Metals | Leadership Team
Lifezone Metals | Leadership Team Keith Liddell Chris Showalter Ingo Hofmaier Dr. Mike Adams Gerick Mouton Natasha Liddell Founder & Chair Chief Executive Officer Chief Financial Officer Chief Technology Officer Chief Operating Officer Chief Sustainability Officer • Chairman since 2008 when • CEO si
Slide 9: Lifezone Metals | Board of Directors
Lifezone Metals | Board of Directors Keith Liddell John Dowd Beatriz Orrantia Robert Edwards Founder & Chair • Chairman since 2008 when Lifezone was • Brings decades of experience generating • Sustainability expertise as a consultant in • 30 years experience in the natural resource founded attractiv
Slide 10: Industry Backdrop
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Slide 11: Energy Transition | Global Electrification of Transportation
Energy Transition | Global Electrification of Transportation Global EV market share well into early adopters S-curve, spurring surging battery demand and so materials demand ENERGY TRANSITION TAILWINDS Increasing Demand for Batteries(1) Battery Capacity Expansion Underway 3.5 900 2021 Capacity 2025
Slide 12: Nickel | A Critical Input for Electric Vehicle Batteries
Nickel | A Critical Input for Electric Vehicle Batteries Automakers increasingly cognizant of the competition for cleaner nickel supply 12
Slide 13: Global Electrification of Transportation | Green Sourcing Tailwind
Global Electrification of Transportation | Green Sourcing Tailwind Auto manufacturers increasingly focused on upstream environmental footprint of battery materials GREEN SOURCING TAILWIND Sustainable Sourcing Practices in Automobile Manufacturing • Sourcing raw materials is heavily reliant on smelti
Slide 14: Nickel | Laterites Dominate New Supply, Sulphides Offer Lower GHG Intensity
Nickel | Laterites Dominate New Supply, Sulphides Offer Lower GHG Intensity Laterites are harder to process, more expensive, and dirtier; Lifezone Metals offers a superior supply alternative NICKEL SULFIDES HAVE LOWER GREENHOUSE GAS (GHG) INTENSITY – MOST INDUSTRY SUPPLY GROWTH EXPECTED FROM NICKEL
Slide 15: Introduction to Kabanga
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Slide 16: Kabanga | Introduction
Kabanga | Introduction High Quality Mineral Resource • Nickel sulphide attributable Mineral Resource to Lifezone of 25.8 Mt (Measured and Indicated resources) at 2.63% Ni and additional 14.6 Mt (Inferred resources) at 2.57% Ni, each with a recovery percentage of 87.2%(1) • Acquired in 2021; program
Slide 17: Kabanga | Tanzania: A New Era for Mining and Investment
Kabanga | Tanzania: A New Era for Mining and Investment Benefitting from a close collaboration between the governments of the United States and Tanzania • Kabanga Framework Agreement is a landmark development for the country • Government of Tanzania has granted five mining Framework Agreements and i
Slide 18: Kabanga | Among World's Largest High-Grade Nickel Orebodies
Kabanga | Among World’s Largest High-Grade Nickel Orebodies (1) (2) (3) Source: S&P CapitalIQ Pro, as modified per public data on each mining project. 1 – The Kabanga nickel project's resource metrics reflect the measured, indicated and inferred resources referred to in the Historical Mineral Resour
Slide 19: Kabanga | First Quartile on the Cost Curve
Kabanga | First Quartile on the Cost Curve Nickel industry C1 cash cost curve 2030(1) 1 – Bespoke Nickel Market Outlook for Lifezone, a product of Wood Mackenzie, August 2022. The population is based on Wood Mackenzie's view on which current operations will be in production by 2030 and their base ca
Slide 20: Kabanga | First Quartile on CO2 Curve
Kabanga | First Quartile on CO2 Curve Nickel industry CO2e emissions curve 2030(1) 1 – Bespoke Nickel Market Outlook for Lifezone, a product of Wood Mackenzie, August 2022. The population is based on Wood Mackenzie's view on which current operations will be in production by 2030 and their base case
Slide 21: Largest Nickel Deposits
Largest 20 Nickel Deposits Largest independent pre-development source of nickel not controlled by a major Source: S&P Capital IQ Pro, as modified per public data on each project. 1 – NiEq. Values calculated using input prices of Nickel:$20,944/T, Copper $8,818/T and Cobalt $57,320/T, Chrome $4,409/T
Slide 22: Kabanga Mine + Kahama Refinery | Timeline to 2.2 Mt/a Mine
Kabanga Mine + Kahama Refinery | Timeline to 2.2 Mt/a Mine Projects and operational teams, along with partners, progressing to unlock a world class asset The feasibility study will assess the potential to increase production throughput to 3.4 Mt/a throughout the mine's life KABANGA MINE (2.2 Mt/a mi
Slide 23: Kabanga | Large Resource, Exploration Potential Providing Upside
Kabanga | Large Resource, Exploration Potential Providing Upside In >20 years, $293 million has been invested in Kabanga resource definition and early studies • Shallow mineralization, supports early production / cash flow FAVOURABLE GEOLOGICAL • 6 kilometer strike length identified CHARACTERISTICS
Slide 24: Kabanga | Encouraging Results from 2023-24 Drilling Program
Kabanga | Encouraging Results from 2023-24(1) (2) Drilling Program Building on years of studies, data, and >560 kilometers of resource drilling Only Ni% >0.5 shown for pre-2021 drillholes [0.5-0.7] [1-1.5] [0.75-1] [1.5-2] [2.5+] [2-2.5] Planned DFS Holes to raise Inferred to Indicated or better def
Slide 25: Kabanga | Simultaneous Critical Path Activities and Key Studies
Kabanga | Simultaneous Critical Path Activities and Key Studies Early works underway (road / airstrip construction, camp expansion, tender packages), metallurgical testing continues Kabanga Camp Site, Ngara (April 2023) Tembo Nickel Team at Drill Site (January 2023) 25
Slide 26: Kahama | Refinery Being Designed for CO2 Reduction
Kahama | Refinery Being Designed for CO2 Reduction Preliminary refinery flow sheet model delivered, preliminary infrastructure engineering designs commenced Aerial View of Kahama • Special economic zone permit currently pending • Once the special economic zone at Kahama becomes official, the plant,
Slide 27: Kabanga + Kahama | A New Metals Supply Chain Solution
Kabanga + Kahama | A New Metals Supply Chain Solution KABANGA SITE Mine + Concentrator Conceptual Layout Kahama special economic zone (SEZ) will unlock Lifezone Metals’ true potential, fostering a cleaner metals processing and industrial hub and leveraging established infrastructure(1) • Existing to
Slide 28: Kabanga + Kahama | Supported by New Investment in Infrastructure
Kabanga + Kahama | Supported by New Investment in Infrastructure Tanzania is currently constructing its new Central Railway Line (standard gauge) and planning to extend it to serve other landlocked countries Tanzania’s New Central Railway Construction Progress Walikale UGANDA Goma KENYA To Kisangani
Slide 29: Kabanga + Kahama | Powered by Clean Energy, Enhanced Low Carbon Credentials
Kabanga + Kahama | Powered by Clean Energy, Enhanced Low Carbon Credentials Rusumo Hydroelectric Project will generate~80 megawatts to be shared between Rwanda, Burundi and Tanzania Rusumo Falls Hydro Power Project Source: World Bank 29
Slide 30: Kabanga + Kahama | Key Project Milestones On the Horizon
Kabanga + Kahama | Key Project Milestones On the Horizon Event / Goal Date(3) Comments / Outcomes (1) (1) Mine Optimization Modeling May-Jul 2023 Evaluate optimized mine size: 2.2Mt/a, 2.8Mt/a, 3.0Mt/a, 3.4Mt/a, or 4.0 Mt/a Resource Definition Drilling (1) Jul 2023 Convert inferred resources into M&
Slide 31: Hydromet Technology
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Slide 32: Hydromet | Right Solution, Right Time
Hydromet | Right Solution, Right Time Global smelting operations contribute up to 7% of greenhouse gas emissions(1); Hydromet could change this Smelting(2) Lifezone Metals Hydromet Technology Highly carbon intensive Long processing time Cleaner Hydromet Technology SO2 emissions High CAPEX Kabanga ni
Slide 33: Hydromet | Proprietary Technology Backed By Extensive Testing
Hydromet | Proprietary Technology Backed By Extensive Testing Technology being streamlined further in order to be able to test more quickly and for more clients 1981 – 1988: Liddell and 1999: Bateman Ltd 2006 – 2021: Development Adams work together on conclude process has of engineering, process maj
Slide 34: Hydromet | How it Works
Hydromet | How it Works Hydromet flow sheet utilises total pressure oxidation of sulphide to replace smelting, leading to reduced emissions and waste, zero sulphur dioxide and faster processing times Aqueous processing technology that selectively targets the valuable metals in a sulfide concentrate
Slide 35: Hydromet | Meaningful Cost + Environmental Advantages Versus Smelting
Hydromet | Meaningful Cost + Environmental Advantages Versus Smelting Up to nearly 80% and more than 40% reduction in project capex and opex, respectively, possible using Hydromet CAPITAL COSTS (US$M) (1) OPERATING COSTS (US$/4E OZ) (1) (2) EMISSIONS (TON CO2 EQ./TON CONC) (1) Source: Lifezone propr
Slide 36: Hydromet | Recycling & Decarbonising the Secondary Supply Chain
Hydromet | Recycling & Decarbonising the Secondary Supply Chain Hydromet can process critical elements faster and in a less energy intensive way The Problem The Solution(1) Raw Materials Extraction Hydromet Processing Multiple cycles of recycling via Lifezone Hydromet - potential to smelting dramati
Slide 37: Commercial Model
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Slide 38: Lifezone Metals | Building a Sustainability-Driven Portfolio
Lifezone Metals | Building a Sustainability-Driven Portfolio In-house hydromet lab and Hydromet autocatalytic Kabanga nickel project Kahama refinery engineering capabilities recycling DFS: critical workstreams to build Project value are underway: Operating hydromet lab: Recycling • Infill drilling c
Slide 39: Lifezone Metals | Value Proposition to Shareholders
Lifezone Metals | Value Proposition to Shareholders Unlocking value from stranded assets and generating multiple revenue streams, including royalties from Hydromet refineries Equity Value Proposition Royalty Value Proposition Focused on Realizing Value Once capitalised – Pursue further equity value
Slide 40: Lifezone Metals | Green Metals are Essential to Combat Climate Change
Lifezone Metals | Green Metals are Essential to Combat Climate Change Hydromet application for critical metals, the hydrogen economy, gold, & potentially other rare earth metals DEMAND METALS DRIVERS Base EV batteries, metals energy storage Hydrogen fuel PGMs cells Rare Solar, wind, earths renewable
Slide 41: Sustainability
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Slide 42: Sustainability Vision
Sustainability Vision Our vision is to deliver a long-term supply of cleaner metals to support the global electric vehicle and green energy transition.(1) The combination of our compelling technology and the world-class Kabanga nickel asset will contribute to a more sustainable future: one that aims
Slide 43: Lifezone Metals | Responding to Evolving Macro Drivers
Lifezone Metals | Responding to Evolving Macro Drivers ESG strategy incremental to meet requirements of business, stakeholders and external expectations Decarbonising Wider industry Tackling supply chains benefits climate change Social impact Health, safety and Building partner of security choice st
Slide 44: Kabanga | Current Focus Resettlement and Implementation Workstreams
Kabanga | Current Focus Resettlement and Implementation Workstreams Comprehensive program in place to grow, support and nurture local relationships led by the Tembo Nickel CSO Community development Community social responsibility Safety and security Ongoing community engagement Access and Critical R
Slide 45: Kabanga | Building on a Social Legacy
Kabanga | Building on a Social Legacy Operating team of 100+ actively focused on relocation and programs. Community engagement and CSR focused on health, safety, environment and education Local Community Engagement / Resettlement Livelihood Planning (April 2023) Water Sampling and Fluvial Assessment
Slide 46: Kabanga | Tembo Nickel Teams Active on the Ground
Kabanga | Tembo Nickel Teams Active on the Ground Strengthening education programs in the community and upskilling the future workforce and creating jobs Gwenzaza Primary School CSR Project (April 2023) Tembo Nickel Young Talent Program (April 2023) Tembo Nickel Corporation (“Tembo”) is an operating
Slide 47: Appendix
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Slide 48: Kabanga | Resource Estimate
Kabanga | Resource Estimate February 15, 2023 Mineral Resource LHL Grades Recovery Classification Tonnage NiEq23 (%) Ni (%) Cu (%) Co (%) Nickel (%) Copper (%) Cobalt (%) (Mt) • Kabanga Mineral Resource estimate as MAIN Measured – – – – – – – – of February 15, 2023 as attributable to Indicated 2.14
Slide 49: BHP | Strategic Investment
BHP | Strategic Investment Current Ownership Structure Potential Future Ownership(3)(4)(5) 1.9%(1) 1.9%(1) 83.0% 17.0% 39.3% 60.7% 14.3% 51.0% indirect indirect 84.0% 84.0% 16.0% Government of 16.0% Government of Tanzania Tanzania • In December 2021, BHP invested $50 million for 8.9% interest in Kab
Slide 50: Investor Relations
Investor Relations LifezoneMetalsIR@icrinc.com