Slide 1: June Quarter FY24 Activities Presentation
24 July 2024 June Quarter FY24 Activities Presentation ASX:PLS
Slide 2: June Quarter highlights
June Quarter highlights PRODUCTION SALES COSTS 26% vs Mar Q 43% vs Mar Q 12% vs Mar Q 226.2k dmt 235.8k dmt $591/t produced shipped Unit operating costs (FOB) REVENUE GROWTH GUIDANCE P2000 PFS released FY24 guidance 58% vs Mar Q with potential exceeded or $305M production capacity achieved and FY25
Slide 3: Health and safety
Health and safety 3.63 total recordable injury frequency rate (TRIFR)1 Update 1.79 Quality safety interactions2 completed per 1,000 hours worked (target 1.0) 3
Slide 4: June Quarter: record production and sales
June Quarter: record production and sales Production Volume – Quarterly (dmt) • Record quarter of production 240,000 226,169 o Production increase 26% to 226.2k dmt vs the prior Quarter. 200,000 26% o Ore mined increased by 20% vs the prior Quarter. Quarterly spodumene production (dmt) 160,000 o Opt
Slide 5: P2000 PFS highlights
3 P2000 PFS highlights Production Expansion NPV IRR 2 Mtpa $2.6B 55% Potential 8% real, post tax on cash flows production post tax capacity (SC5.2) New plant Next steps Timing Whole of ore Feasibility study Creates optionality. flotation plant commenced,with FID subject to with estimated outcomes ex
Slide 6: Downstream chemicals facility with POSCO
Downstream chemicals facility with POSCO 18% equity interest with call option to increase to 30% in a 43,000 tpa lithium hydroxide monohydrate (LHM) facility in Gwangyang, South Korea in joint venture with POSCO. Train 1 production ramp up Ramp up of production underway. Initial production volumes o
Slide 7: FY24 Guidance: achieved
FY24 Guidance: achieved FY24 Guidance Units FY24 Guidance Actual • Production volume of 725kt for FY24 exceeded the top Production volume kt 660-690 725.3 ✓ end of market guidance of 660-690kt due to strong June Unit operating cost (FOB) A$/t 600-670 654 ✓ Quarter production volume performance. 820-
Slide 8: June Quarter financials
June Quarter financials Note: Non-IFRS financial metrics such as “Underlying Profit after tax”, “EBITDA”, and “Net Cash” are used throughout the presentation to provide additional information on business performance. Throughout this presentation, amounts may not add due to rounding. • due to the fir
Slide 9: June Qtr FY24 – vs prior quarter
June Qtr FY24 – vs prior quarter Summary Operational and Financial Metrics6 Units Mar Q FY24 Jun Q FY24 (%) • Revenue of $305M is 58% higher than the prior Quarter due to a 43% increase in sales volume combined with a 4% increase in the average Production volume kt 179.0 226.2 26 realised price comp
Slide 10: June Qtr FY24 – cash flow bridge
June Qtr FY24 – cash flow bridge Cash Flow bridge – 31 March 2024 to 30 June 2024 • Cash balance at 30 June 2024 remains strong at $1.6B. • Total cash outflow of $156M declining from $1.8B to $1.6B due to continued growth capex, largely driven by the P680 and P1000 expansion projects. Cash Margin fr
Slide 11: June FY24 – vs prior year
June FY24 – vs prior year Summary Operational and Financial Metrics6 Units FY23 FY24 (%) • Revenue was $1.3B in FY24. The Group is a >$1B revenue business at a lower average realised price of $1,176/t. Production volume kt 620.1 725.3 17 • Revenue of $1.3B is 69% lower than FY23 (the prior correspon
Slide 12: June FY24 – cash flow bridge
June FY24 – cash flow bridge Cash Flow bridge – 01 July 2023 to 30 June 2024 • Strong cash margin from operations for FY24 of $513M even at a lower average realised price of $1,176/t. • Cash margin from operations less capitalised mine development costs and sustaining capex was also positive for the
Slide 13: FY25 – fully funded expansion to 1Mtpa
FY25 – fully funded expansion to 1Mtpa 13
Slide 14: P680 Project - crushing and ore sorting facility
P680 Project - crushing and ore sorting facility • Integrated crushing and ore sorting facility capable of processing up to 5mtpa of ore. • The ore sorting circuit is configured to reject waste material through a combination of optical and X-ray ore sorting technologies. • Project remains on schedul
Slide 15: P1000 Project – taking shape
P1000 Project – taking shape • Project remains on schedule and budget - 60% complete at end of June Quarter. • Concrete construction and underground services completed. • All steel and modular units delivered to WA. • All major equipment on site. • First ore targeted for the March Quarter 2025. P100
Slide 16: FY25 P680 and P1000 ramp up
FY25 P680 and P1000 ramp up Pilgangoora Operation production profile to be impacted by extended planned shutdowns, commissioning and ramp up activities. Pilgan processing plant commissioning timeline P680 P680 C&S - ramp up P680 crushing and ore sorting - steady state P1000 Construction P1000 - comm
Slide 17: FY25 guidance
FY25 guidance 13 Production Unit operating cost (FOB) Capital expenditure Spodumene Concentrate A$650 - $700/dmt Total capital expenditure 800-840,000 dmt - $615 - $685M SC ~5.2%14 Production volume guidance in FY25 reflects FY25 expansion requires increased operating cost to Growth capital the inte
Slide 18: Markets
oe Pilbara Minerals Markets 18
Slide 19: Strong growth fundamentals for EVs
Strong growth fundamentals for EVs Global EV sales 15 Global EV sales market share by region 16 (July 2019 – June 2024) 1,800,000 100% 90% 1,600,000 80% 1,400,000 70% 1,200,000 60% 1,000,000 Units 50% 800,000 40% 600,000 30% 400,000 20% 200,000 10% - 0% China US & Canada EU & EFTA & UK Japan Asia Pa
Slide 20: Questions
oe Pilbara Minerals Questions 20
Slide 21: Contacts
Contacts Investor Relations James Fuller Manager, Investor Relations T: +61 (0) 488 093 763 James.Fuller@pilbaraminerals.com.au Media Michael Vaughan Fivemark Partners T: +61 (0) 422 602 720 21
Slide 22: Appendices
oe Pilbara Minerals Appendices 22
Slide 23: Physicals summary
Physicals summary Total Ore Mined and Processed units Jun Q FY23 Sep Q FY24 Dec Q FY24 Mar Q FY24 Jun Q FY24 FY23 FY24 Ore mined wmt 1,271,150 1,411,017 1,618,748 1,535,521 1,841,748 5,034,998 6,407,034 Waste material wmt 7,311,878 7,741,062 7,965,907 7,761,304 7,407,146 26,785,850 30,875,419 Total
Slide 24: Important notices
Important notices This document has been prepared by Pilbara Minerals Limited (“Pilbara” or “Pilbara Minerals” or the “Company”) and is dated 24 July 2024. This document should be read in conjunction with the ASX announcement titled “June 2024 Quarterly Activities Report” released to the ASX 24 July
Slide 25: Important notices
Important notices Important Information regarding Mineral Resources, Ore Reserves and P680 and P1000 Projects Information in this presentation regarding expansions in nameplate capacity of the Pilgan Plant in respect of the P680, P1000 and P2000 projects are underpinned solely by the Company’s exist
Slide 26: End notes
End notes 1. Rolling 12 month indicator as at 30 June 2024. 2. Quality safety interactions are a leading indicator. The measurement is as at 30 June 2024 for the June Quarter. 3. For more information, please see Pilbara Minerals ASX announcement “Study Delivers 2MTPA Expansion Option” released on 21