Nickel Asia Corp. · PSE:NIKL
Nickel Asia — FY2024 Earnings Presentation
26 slides from Nickel Asia's earnings presentation, Mar 5, 2025
Slide 1: Nickel Asia Corp. FY-2024 Earnings
NICKEL ASIA CORP. FY-2024 EARNINGS MARCH 05, 2025
Slide 2: Disclaimer
DISCLAIMER This presentation and the information contained herein as well as the materials distributed herewith ("Presentation") are the sole and exclusive property of Nickel Asia Corporation ("NAC") and shall only be used for the purpose intended herein. This Presentation is not intended to provide
Slide 3: NIKL and EPI FY-24 Highlights
NIKL AND EPI FY-24 HIGHLIGHTS NICKEL MINING RENEWABLE ENERGY (EMERGING POWER INC.) Revenues from ore sales declined by 8.5 percent to P19.56 EPI’s operating asset Jobin-SQM Inc. (JSI) is presently operating billion from P21.38 billion last year, due to lower ore prices. at a total capacity of 172 MW
Slide 4: DSO Ore Prices Rebounded in 2H-2024 vs 1H2024, Driving NAC's Performance
DSO ORE PRICES REBOUNDED IN 2H-2024 VS 1H2024, DRIVING NAC’S PERFORMANCE 2H-24 and 1H-24 Period Comparison
Slide 5: Financial Highlights (FY-24 vs FY-23)
FINANCIAL HIGHLIGHTS (FY-24 VS FY-23) Source: Company Data Notes: (1) EBITDA is from Mining operations *Recurring Net Income margin (2) Ni Pay factor is the ratio of revenue to LME price for each unit of contained nickel sold. (3) Dividend yield is computed as dividend per share divided by average N
Slide 6: Dividend Declarations
DIVIDEND DECLARATIONS We declared regular and special dividends equivalent % OF 2024 RECURRING to 50.0% of previous years recurring net income PER SHARE TOTAL DIVIDEND IN NET INCOME amounting to P1.536 bn or ₱0.11/share. BILLION PHP ATTRIBUTABLE TO EQUITY HOLDERS (A) NET-INCOME ATTRIBUTABLE TO EQUIT
Slide 7: Shipments and Revenues by Ore Type
SHIPMENTS AND REVENUES BY ORE TYPE YoY Period Comparison
Slide 8: Revenue – Variance Analysis
REVENUE – VARIANCE ANALYSIS FY Period Comparison Gross Revenues, in Php Millions, Y2024 v Y2023
Slide 9: Cost & Expenses – Variance Analysis
COST & EXPENSES – VARIANCE ANALYSIS FY Period Comparison Costs and Expenses, in Php Millions, Y2024 v Y2023
Slide 10: Investment in HPAL Equity Earnings
INVESTMENT IN HPAL EQUITY EARNINGS We completed the sale of our 15.625% equity stake in CBNC to SMM for the 9M- 2024 Carrying value. For FY-2024 we trimmed total losses in our equity investments by 13% due to the divestment of NAC’s shares in CBNC. This strategic move will strengthen NAC’s financial
Slide 11: JSI Financial Highlights (FY-23 to FY-24)
JSI FINANCIAL HIGHLIGHTS (FY-23 TO FY-24) Source: Company Data
Slide 12: The New Mines & RE Pipeline
THE NEW MINES& RE PIPELINE Dake
Slide 13: The New Mines
NEW MINES RESOURCES: 241M WMT THE NEW MINES TARGET ANNUAL GROSS ADDITIONAL PRODUCTION: 7.5M WMT SOUTH UPPER DINAPIGUE MANICANI GUINTALUNAN TOTAL RESOURCES AS OF 12/31/2024 129 M WMT @ 1.12% Ni 50 M WMT @1.39% Ni 62 M WMT @1.43% Ni SAPROLITE RESOURCES 42 M WMT @ 1.35% Ni 19 WMT @ 1.64% Ni 49 M WMT @
Slide 14: Solar Assets Slated for 2025
2025 ADDITIONAL SOLAR ASSETS TOTAL GROSS CAPACITY: 265 MW SLATED FOR 2025 2025 ADDITIONAL ATTRIBUTABLE CAPACITY: 217 MW SUBIC CAWAG LEYTE PROJECT P1 CAPACITY UNDER CONSTRUCTION OR FOR CONSTRUCTION 145 MW 120 MW TOTAL ATTRIBUTABLE MW TO EPI 145 MW 72 MW PRE-DEVELOPMENT Completed in June 2023 Complete
Slide 15: Solar Assets Slated for 2026
SOLAR ASSETS 2026 TOTAL GROSS CAPACITY: 369 MW SLATED FOR 2026 2026 ATTRIBUTABLE CAPACITY: 221.4 MW LEYTE BOTOLAN, NAZARENO LIBAG SUR P1 BOTOLAN P2 PROJECT P2 ZAMBALES CAPACITY UNDER CONSTRUCTION OR FOR CONSTRUCTION 120 MW 45 MW 50 MW 140 MW 14 MW TOTAL ATTRIBUTABLE MW TO EPI 72 MW 27 MW 30 MW 84 MW
Slide 16: EPI's Projected Capacity Buildup of Generation Assets
EPI’S PROJECTED CAPACITY BUILDUP OF GENERATION ASSETS Gross Capacity, MW EPI’s gross capacity will reach the following: By 2025 it will be 437 MW By 2026 it will be 806 MW PSAs and GEAP participation for offtake.
Slide 17: Geothermal Project Updates
GEOTHERMAL PROJECT UPDATES BILIRAN (BGI) MINDORO (MGPC) The EPI Team will develop BGI. Management has decided to write-off investments We’re evaluating partners / investors to work from MGPC due to the project’s viability after DEVELOPMENTS with on BGI. studying the data.
Slide 18: Regulatory Updates
REGULATORY UPDATES Senate Bill 2826 (Third Reading Copy) as of February 4, 2025, This version has an additional 3.6% impact on our net-income. LEGISLATIVE SENATE BILL COMMENTS FEATURES (THIRD READING) FEB 4, 2025 TIERED ROYALTY OUTSIDE MARGIN NAC’s two mine sites will be MINERAL RESERVATIONS if marg
Slide 19: Nickel Processing Plant Study
NAC and DMCI Mining, will come together to explore the feasibility of developing and operating a nickel processing plant in the Philippines. The announcement was made on 5th March, 2025. The plant aims to process low-grade nickel ore that’s currently not viable for export, thereby maximizing the Phi
Slide 20: Appendix
APPENDIX
Slide 21: Nickel Deficit Is Inevitable Beyond 2027
NICKEL DEFICIT IS INEVITABLE BEYOND 2027 IMPLIED UPSIDE TO NICKEL PRICES 1. The mass adoption of NEVs and the increase in nickel demand will continue into the next decade. 2. Nickel supply visibility beyond 2027 is limited, considering the availability of ore supply, regulatory challenges, and execu
Slide 22: Sustainability
SUSTAINABILITY
Slide 23: NAC as a Leader of Responsible Mining in the Philippines
NAC AS A LEADER OF RESPONSIBLE MINING IN THE PHILIPPINES PRESIDENTIAL MINERAL INDUSTRY ENVIRONMENT AWARDS (PMIEA) Ceremony 16ᵗʰ October 2024 in Malacañang The PMIEA is awarded annually to mining companies that excel in safety and health management, environmental protection, and community development
Slide 24: ESG Score Improved to 34.8 from 43.7
ESG SCORE IMPROVED TO 34.8 FROM 43.7 Nickel Asia Corp. Rating Report Material ESG Issues Score and Risk Category ESG Risk Exposure ESG Risk Management ESG Risk Rating Contribution to ESG Risk Issue Name Score | Category Score | Category Score | Category Rating 34.8 High Risk Community Relations 8.1
Slide 25: Awards and Recognition
FINANCEASIA ASIA’S BEST COMPANIES ASIAMONEY NAC received a Gold citation and was one NAC has been recognized as the MOST PHILIPPINE STOCK EXCHANGE of only four companies in the Basic OUTSTANDING Company in the Nickel Asia Corporation (PSE:NIKL) joins Materials Company sector recognized this Philippi
Slide 26: Disclaimer
DISCLAIMER This presentation and the information contained herein as well as the materials distributed herewith ("Presentation") are the sole and exclusive property of Nickel Asia Corporation ("NAC") and shall only be used for the purpose intended herein. This Presentation is not intended to provide