Coronado Global Resources Inc. · ASX:CRN
Coronado Global Resources — Shareholder Meeting (May 2023)
48 slides from Coronado Global Resources's shareholder meeting presentation, May 24, 2023
Slide 1: 2023 Annual General Meeting Presentation
2023 Annual General Meeting Presentation Bill Koeck Douglas Thompson Incoming – Managing Director 25 May 2023 (All units in USD and metric tonnes, unless otherw ise stated) and CEO Gerry Spindler Managing Director and CEO Board Chair
Slide 2: Chairman's Address
2023 Annual General Meeting 2 Chairman’s Address Bill Koeck Independent Non-Executive Director and Chair
Slide 3: A leading international producer of high-quality metallurgical coal
A leading international producer of high-quality metallurgical coal, an essential element in the production of steel. 2023 Annual General Meeting 3
Slide 4: Energy transition is dependent on steel; Met Coal is a key driver
4 75,293,000 kg steel 58,000,000 kg met coal Key global infrastructure projects for grow ing populations require steel. 54,430,000 kg steel 42,000,000 kg met coal Steel is used in buildings, bridges, roads, rail systems, houses, dams, and everyday white goods, among other uses. 900 kg steel 690 kg m
Slide 5: 2022 Record Financial Results; Record Shareholder Returns
2022 Record Financial Results; Record Shareholder Returns 2023 Annual General Meeting 5 Record financial results driven by elevated pricing and solid operating performance and productivity initiatives despite significant wet weather Record dividend distributions Record economic contributions to soci
Slide 6: Coronado's Capital Management Strategy Supported By Strong Fundamentals
Coronado’s Capital Management Strategy Supported By Strong Fundamentals 1. Strong Balance Sheet Maintaining a strong balance sheet with enhanced liquidity and prudent debt levels. 2. Shareholder Returns Fundamental strategy is to return funds to Shareholders. 3. Organic Growth Prioritise growth expe
Slide 7: Total Shareholder Returns (TSR) / Dividend Yield
7 Total Shareholder Returns (TSR) / Dividend Yield 2022 TSR of 110%(1) and Dividend Yield of 49% substantially outperformed the market Notes: (1) TSR Source: S&P Capital IQ for the period 31 Dec 2021 – 31 Dec 2022. (2) CRN and Peer Dividend Yield determined as dividends paid 31 Dec 2021 – 31 Dec 202
Slide 8: Safety is the most important aspect of our operations
Safety is the most important aspect of our operations and our highest priority 2023 Annual General Meeting 8
Slide 9: Sustainability 2022 Highlights
Sustainability 2022 Highlights 2023 Annual General Meeting 9 100% Progress made towards sustainability targets Land rehabilitated across the U.S. and Australia Significant environment and cultural heritage incidents Launched in Australia Increase in the number of females across our business globally
Slide 10: Board Changes and Management Succession
Board Changes and Management Succession Retirement of Gerry Spindler from the role of MD and CEO after today’s AGM, and the intention to subsequently appoint Mr Spindler to the position of Executive Chair of the Board. Promotion of Douglas Thompson as CEO and his appointment to the Board as Managing
Slide 11: Positive Outlook
Positive Outlook Coronado is well positioned with a strong balance sheet, stable cash flows, experienced Board and management, quality long-life assets, and a range of organic and in-organic growth opportunities. In the 2023 financial year we are targeting increased saleable production, lower mining
Slide 12: Chief Executive Officer's Address
Chief Executive Officer’s Address Gerry Spindler Managing Director and CEO 2023 Annual General Meeting 12
Slide 13: FY 2022 Highlights
Record revenue of $3.6 billion underpinned by elevated Met Coal pricing Record dividend distributions totalling $700 million total shareholder returns of 110% Record net income of $772 million and adjusted EBITDA of $1.2 billion Solid operating performance and productivity initiatives implemented de
Slide 14: Health and Safety
Health and Safety Safety is Coronado’s highest priority 2023 Annual General Meeting 14 0 2 4 6 8 10 Australian Operations Industry average Notes: Total Recordable Injury Frequency Rate (TRIFR), is the number of fatalities, lost time injuries, cases or substitute work and other injuries requiring med
Slide 15: Dragline Proximity Awareness
Dragline Proximity Awareness Implementing technology solutions to improve proximity awareness A simple and robust proximity awareness system to notify the operator, and/or to take an appropriate action automatically, when personnel or equipment enter the operational areas of the machines 15 Lidar Mo
Slide 16: Metallurgical Coal Markets
Metallurgical Coal Markets 2023 Annual General Meeting 16
Slide 17: Metallurgical Coal has a long-term future
Metallurgical Coal has a long-term future Steel is critical to the development of a low carbon future; Demand outlook remains firm. 2023 Annual General Meeting 17 EAF / other steel production methods are expected to grow over time, but BOF production is forecast to remain the primary method in 2050,
Slide 18: Coronado's Unique Diversification Advantage
Coronado’s Unique Diversification Advantage Coronado supports Met Coal customers on five continents 2023 Annual General Meeting 18 Notes: (1) Australian FY 2022 export Met coal sales volume mix. (2) Hard Coking Coal (HCC), Semi Coking Coals (SCC), Pulverized Coal Injection (PCI). (3) U.S. FY 2022 Me
Slide 19: Steel Demand Outlook Remains Firm
Steel Demand Outlook Remains Firm India steel production anticipated to grow year-on-year due to urbanisation and industrialisation 2023 Annual General Meeting 19 Notes: (1) Data source Wood Mackenzie January 2023 GDP Forecasts. (2) Data sourced from Wood Mackenzie May 2023 Coal Market Service Metal
Slide 20: Strong Metallurgical Coal Demand Through 2050
Strong Metallurgical Coal Demand Through 2050 2023 Annual General Meeting 20 Notes: Data sourced from AME Metallurgical Coal Strategic Market Study 2023 Q1; Mmt = Million metric tonnes. Rounding has been applied. Global export demand growth for Met Coal is underpinned by India; Primary source growth
Slide 21: Met Coal prices expected to rebound in H2
Met Coal prices expected to rebound in H2 Met Coal index fallen in 2023; Remains well above long-term average price. 2023 Annual General Meeting 21 Notes: (1) Source: S&P Global Platts pricing 31 Dec 2019 to 14 Feb 2023; PLV HCC FOB AUS = Premium Low-Vol FOB Australian Hard Coking index, LV HCC FOB
Slide 22: Incoming – Chief Executive Officer's Address
Incoming – Chief Executive Officer’s Address Douglas Thompson Managing Director and CEO (effective 25 May 2023) 2023 Annual General Meeting 22
Slide 23: Coronado – Steel Starts Here (Video)
Coronado – Steel Starts Here (Video) 2023 Annual General Meeting 23
Slide 24: Growth – U.S. Buchanan capital works underpin U.S. growth plans
Growth – U.S. Buchanan capital works underpin U.S. growth plans to 7.0Mtpa by 2025 Buchanan: Construction of new surface coal storage areas underway to increase capacity and decrease bottlenecks. Installation of a second set of skips for additional hoisting capacity. Preparation plant upgrades to in
Slide 25: Growth - Australia Curragh Underground
Growth - Australia Curragh Underground key organic growth project for mine to reach 13.5Mtpa saleable production by 2025 Coal Reserve, Quality and Mining Method Underground Bord and Pillar operation Access utilizing existing open cut pit highwall Substantial high-quality Met coal resources of 40 - 4
Slide 26: Exceptional Workforce
Exceptional Workforce Coronado Global Resources – A Company Like No Other 2023 Annual General Meeting 26
Slide 27: Coronado Investment Proposition
27 Coronado Investment Proposition Fundamental policy to generate Shareholder Value – 2022 TSR of 110% Shareholder Value Critical Commodity Operational Excellence Capital Management • Strong Culture and Capability to maximise performance • Strategic / Experienced Leadership • Executable Organic Grow
Slide 28: Formal Business of The Meeting
Formal Business of The Meeting Independent Non-Executive Director and Chair Bill Koeck 2023 Annual General Meeting 28
Slide 29: Items of Business
Items of Business Resolution by Holder of Preferred Stock Series A Item 1: Election of Series A Director Nominee Ms Laura Tyson Resolutions by Holders of Common Stock Item 2: Election of five Director Nominees Item 3: Approval on a Non-binding Advisory Basis of Named Executive Officers’ Compensation
Slide 30: Item 1: Election of Series A Director Nominee Ms Laura Tyson
Item 1: Election of Series A Director Nominee Ms Laura Tyson The Holder of the Series A Share is being asked to consider and if thought fit, resolve that: (a) ‘Ms Laura Tyson, be elected as a non-executive Director of the Company to hold office until the 2024 Annual General Meeting of Stockholders a
Slide 31: Item 1: Election of Series A Director Ms Laura Tyson (continued)
Item 1: Election of Series A Director Ms Laura Tyson (continued) 2023 Annual General Meeting 31 Summary of Proxies Received (at proxy close, 10am (AEST) May 22, 2023) Voted % Election of Ms Laura Tyson For 100% Withheld 0% Note: AEST ref ers to Australian Eastern Standard Time.
Slide 32: Item 2: Election of Directors
2023 Annual General Meeting 32 Item 2: Election of Directors Mr Garold (Gerry) Spindler Executive Director Mr William (Bill) Koeck Non-Executive Director Mr Philip Christensen Non-Executive Director Mr Greg Pritchard Non-Executive Director Mr Douglas Thompson Executive Director
Slide 33: Item 2: Election of Directors (continued)
Item 2: Election of Directors (continued) Security holders are being asked to consider and if thought fit, resolve by ordinary resolution, that: (1) ‘Mr Garold (Gerry) Spindler, being eligible, be elected as an executive Director of the Company to hold office until the 2024 Annual General Meeting of
Slide 34: Item 2: Election of Directors (continued)
Item 2: Election of Directors (continued) 2023 Annual General Meeting 34 Summary of Proxies Received (at proxy close, 10am (AEST) May 22, 2023) Voted % Election of Mr Garold (Gerry) Spindler For 98.30% Withheld 1.70% Election of Mr William (Bill) Koeck For 93.30% Withheld 6.70% Election of Mr Greg P
Slide 35: Item 3: Advisory Approval of Named Executive Officers' Compensation
Item 3: Approval on a Non-binding Advisory Basis of Named Executive Officers’ Compensation Security holders are being asked to consider and if thought fit, by ordinary resolution to: ‘Resolve that the compensation of the Company’s named executive officers, as disclosed pursuant to the compensation d
Slide 36: Item 3: Executive Compensation (continued)
Item 3: Approval on a Non-binding Advisory Basis of Named Executive Officers’ Compensation (continued) 2023 Annual General Meeting 36 Note: AEST ref ers to Australian Eastern Standard Time. Summary of Proxies Received (at proxy close, 10am (AEST) May 22, 2023) Votes (%) For 92.39% Against 7.58% Abst
Slide 37: Item 4: Ratification of Independent Registered Public Accounting Firm
Item 4: Ratification of Appointment of Independent Registered Public Accounting Firm for Fiscal Year Ending December 31, 2023 Security holders are being asked to consider and if thought fit, by ordinary resolution to: ‘Resolve to ratify the appointment of Ernst & Young as the Company’s independent r
Slide 38: Item 4: Ratification of Accounting Firm (continued)
Item 4: Ratification of Appointment of Independent Registered Public Accounting Firm for Fiscal Year Ending December 31, 2023 (continued) 2023 Annual General Meeting 38 Summary of Proxies Received (at proxy close, 10am (AEST) May 22, 2023) Votes (%) For 99.90% Against 0.08% Abstain 0.02% Note: AEST
Slide 39: Item 5: Approval of issuance under 2018 Equity Incentive Plan
Item 5: Approval of the issuance of up to 25,000,000 Securities under the Company’s 2018 Equity Incentive Plan Security holders are being asked to consider and if thought fit, by ordinary resolution to: ‘Resolve to approve the issuance of up to 25,000,000 Securities (including CDIs and stock options
Slide 40: Item 5: Equity Incentive Plan (continued)
2023 Annual General Meeting 40 Note: AEST ref ers to Australian Eastern Standard Time. Summary of Proxies Received (at proxy close, 10am (AEST) May 22, 2023) Votes (%) For 99.16% Against 0.80% Abstain 0.04% Item 5: Approval of the issuance of up to 25,000,000 Securities under the Company’s 2018 Equi
Slide 41: Item 6: Approval to adopt Employee Share Purchase Plan
Item 6: Approval to adopt the Company’s Employee Share Purchase Plan Security holders are being asked to consider and if thought fit, by ordinary resolution to: ‘Resolve to approve the Coronado Global Resources Inc. Employee Stock Purchase Plan.’ 2023 Annual General Meeting 41
Slide 42: Item 6: Employee Share Purchase Plan (continued)
Item 6: Approval to adopt the Company’s Employee Share Purchase Plan (continued) 2023 Annual General Meeting 42 Note: AEST ref ers to Australian Eastern Standard Time. Summary of Proxies Received (at proxy close, 10am (AEST) May 22, 2023) Votes (%) For 99.86% Against 0.10% Abstain 0.04%
Slide 43: Contacts
Investors Andrew Mooney Vice President Investor Relations & Communications +61 458 666 639 amooney@coronadoglobal.com investors@coronadoglobal.com Registered Office Coronado Global Resources Inc. Level 33, Central Plaza One 345 Queen Street Brisbane, QLD, Australia, 4000 GPO Box 51, Brisbane QLD, Au
Slide 44: Supplementary Information
Supplementary Information 2023 Annual General Meeting 44
Slide 45: Important Notices and Disclaimer
Important Notices and Disclaimer 2023 Annual General Meeting 45 The material contained in this presentation is intended to be general background information on Coronado Global Resources (Coronado) and its activities. The information is supplied in summary form and is therefore not necessarily compl
Slide 46: Reconciliation of Non-GAAP measures
46 Reconciliation of Non-GAAP measures 2023 Annual General Meeting Realised met pricing reconciliation for the 12 months ended 31 December 2022 (US$ thousands, except for volume data) Australia United States Consolidated Total revenues 2,116,555 1,454,987 3,571,542 Less: Other rev enues (38,037) (5,
Slide 47: Reconciliation of Non-GAAP measures (continued)
47 Reconciliation of Non-GAAP measures (continued) Total consolidated mining costs per tonne reconciliation (US$ thousands, except for volume data) For the 12 months ended 31 December 2022 Total costs and expenses 2,525,271 Less: Selling, general and administrativ e expenses (42,499) Less: Depreciat
Slide 48: https://coronadoglobal.com/sustainability/
https://coronadoglobal.com/sustainability/
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