Slide 1: FY23 Full Year Results
Powering a sustainable energy future FY23 Full Year Results ASX:PLS
Slide 2: Major Australian operation
Major Australian operation One of the few major hard-rock lithium producers globally 1 Two plants ~34 years in operation mine life 3 +70% 2 214 Mt at 1.2% Li2O Ore Reserve increase in production under construction 1 The ~34 year life of mine and ore mined referenced is from 30 June 2023. This produc
Slide 3: FY23 financial highlights
FY23 financial highlights Revenue Cash 242% increase 464% increase in Group revenue to in cash balance to $4.1B $3.3B EBITDA Dividend 307% increase Fully franked in Group EBITDA to final dividend determined of $3.3B 14 cps (Full year dividend paid and determined of 25 cps) Profit 326% increase in St
Slide 4: Operational highlights
Operational highlights Production Sales Price 64% increase 68% increase 87% increase in production volumes to in shipping volumes to in realised price to 607.5kt US$4,447kt (~SC5.3%) 620.1kt Growth Chemicals Expansion P680 and P1000 POSCO JV plant 35% increase expansion projects progressed progresse
Slide 5: A transformational year
A transformational year Major milestones achieved in the 2023 financial year Q1 Q2 Q3 Q4 Accelerated growth $250M Aus Govt and new P680 construction Record quarter for mandate endorsed by US$113M financing contract awarded production and sales Board facilities Capital Management Inaugural interim di
Slide 6: Sustainability
Sustainability Community investment • $1.3M invested • Four multi-year partnerships • Strelley Community Renewable Energy and Lithium Battery project Indigenous engagement and opportunities • Cultural awareness camps and training • Cultural awareness training for over 436 employees • Business develo
Slide 7: Safety and people
Safety and people 78% Workforce growth 4.7 Total recordable injury frequency rate (TRIFR)1 2.9 (target >2.0) Safety Interactions2 completed per 1,000 hours 1. Rolling 12-month indicator as at 30 June 2023. 2. Safety interaction is a leading indicator. The measurement is based on the June Quarter 202
Slide 8: Financial results
Financial results 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. A reconciliation of Non-IFRS metrics to statutory financial metrics is provided in Append
Slide 9: Financial results – summary
Financial results – summary Summary Operational and Financial Metrics Units FY22 FY23 Change • Strong financial performance across all key metrics Physicals • Revenue increased 242% to $4.1B in FY23 driven by record sales volumes and all-time high customer pricing Production Kt 377.9 620.1 64% – Sal
Slide 10: Profit and loss – summary
Profit and loss – summary Summary Profit and Loss Metrics • Ongoing focus on cost management balanced against the Group’s Units FY22 FY23 Change strategy to rapidly expand production Revenue $M 1,189.6 4,064.0 242% • Operating Costs increased by 100% to $671.9M in FY23 to support Operating Costs $M
Slide 11: Rapid EBITDA growth and margin expansion driven by expanding production and pricing
Rapid EBITDA growth and margin expansion driven by expanding production and pricing P+L metrics by quarter – FY22 to FY23 FY23 REVENUE 1,400 160 $4.1B EBITDA % EBITDA >75% 1,200 140 $3.3B EBITDA 120 MARGIN 1,000 100 82 % PRODUCTION $M 800 kt 80 620kt 600 60 400 40 Revenue EBITDA % EBITDA 200 ~35% 20
Slide 12: Cash flow
Cash flow Summary Cash Flow Statement Strong cash flow performance providing the flexibility for investment in FY22 FY23 Change growth and dividends Receipts from Customers 968.1 4,387.0 353% Operating cash flow Payments for Operating Costs (288.9) (722.7) 150% • Operating cash flow increased 434% t
Slide 13: Cash Flow Bridge – FY22 to FY23
A$M Cash 30 June 2022 $592 Receipts from customers $4,387 Payments for operating costs $(723) Cash Flow Bridge – FY22 to FY23 Other operating $2 cash flows $3.7B Operations: Cash flows from operating activities Income Cash Margin from taxes paid $(209) Cash flows from investing activities $(408) Net
Slide 14: Strong and stable cash margin from operations increasing cash balance
Strong and stable cash margin from operations increasing cash balance 3,500.00 Cash Cash Balance FY23 Cash Margin from Operations (Quarter) $3.3B Cash Margin from Operations Q4 FY23 $920M FY23 $3.7B $M 0.00 Sep-21 Dec-21 Mar-22 Jun-22 Sep-22 Dec-22 Mar-23 Jun-23 14
Slide 15: Cash and liquidity
Cash and liquidity Net Cash 30-Jun-22 30-Jun-23 Change • Significant increase in balance sheet strength in FY23 driven by a step up in Cash and Net Cash Cash 591.7 3,338.6 464% Current Debt 30.5 60.4 98% • Cash and undrawn facilities provides total liquidity of $3.5B as at 30 June 2023 Non-Current D
Slide 16: Balance sheet – summary
Balance sheet – summary Summary Balance Sheet Metrics 30-Jun-22 30-Jun-23 Change • Reduction in Receivables and increase in Payables in FY23 driven by the timing of shipments and provisional pricing adjustments Cash 591.7 3,338.6 464% Receivables 299.1 132.0 -56% • Increase in Inventory primarily re
Slide 17: Final FY23 dividend
Final FY23 dividend Final FY23 dividend of 14 cents Capital management update per share (fully-franked) • The Group’s inaugural Capital Management Framework was announced in November 2022 Implying a payout ratio of 30% of 2H FY23 free cash flow1, – Developed with a view to prudently allocate capital
Slide 18: Outlook
sy Pilbara Minerals Outlook
Slide 19: FY24 guidance
FY24 guidance 1 Notes: Production Unit operating cost Capital expenditure 1. Note to Guidance: Guidance is based on assumptions, budgets and estimates existing at the time of assessment which may change over time impacting the accuracy of those estimates. Spodumene Concentrate A$600 - $670/dmt Growt
Slide 20: Strategy and Market
sy Pilbara 7 Minerals Strategy and Market
Slide 21: Delivering our strategy
Delivering our strategy Operate Deliver our operating performance commitments To be a leader Grow Achieve the full potential of the Pilgangoora asset in the provision of sustainable battery materials Chemicals Extract greater value along the battery materials supply chain products Diversify Diversif
Slide 22: Globally significant lithium resource
Globally significant lithium resource Global hard-rock lithium project landscape (bubble size represents Resource Lithium Carbonate Equivalent (LCE))1 2.0% 1.8% Greenbushes 1.6% 1.4% Li2O grade (%) 1.2% Pilgangoora Pilgangoora (30 June 2022) (7 August 2023) Development 1.0% Wodgina and Exploration P
Slide 23: 35% increase in Pilgangoora Ore Reserve
35% increase in Pilgangoora Ore Reserve Pilgangoora Ore Reserve increased by 55Mt to 214Mt following FY23 drill program and Mineral Resource update1. Extends Pilgangoora Operations mine life by ~9 years to ~34 years2 1 See Appendix B for further information 2 The indicative mine life quoted is from
Slide 24: Long term demand driven by PEV and ESS
Long term demand driven by PEV and ESS Operational Growing lithium market 7 Expected deficit Secondary in lithium by 2040 is • The long-term outlook remains very positive for battery grade Potential the equivalent of 6 lithium raw materials with continued adoption of EVs and battery Demand 12–20 ene
Slide 25: Questions
sy Pilbara Minerals Questions
Slide 26: Contact
CONTACT 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 Follow us on 26
Slide 27: Appendix A
Appendix A Additional operational and financial information 27
Slide 28: Appendix A1. Physicals summary
Appendix A1. Physicals summary Total Ore Mined and Processed – FY23 UNITS Q1 Q2 Q3 Q4 TOTAL Ore mined wmt 1,442,545 1,095,739 1,225,563 1,271,150 5,034,998 Waste material wmt 6,540,334 6,360,951 6,572,687 7,311,878 26,785,850 Total material mined wmt 7,982,879 7,456,690 7,798,250 8,583,028 31,820,84
Slide 29: Appendix A2. Reconciliation: Statutory P+L to Management P+L
Appendix A2. Reconciliation: Statutory P+L to Management P+L $M $M $M $M Cross reference to Cross Profit and loss – statutory FY22 FY23 Change ref Profit and loss – Management P&L 2022 2023 statutory profit and loss Revenue from contracts with customers 1,189.6 4,064.0 242% A Revenue from contracts
Slide 30: Appendix A3. Reconciliation: Statutory P+L to Management P+L
Appendix A3. Reconciliation: Statutory P+L to Management P+L Reconciliation: FY23 Statutory Net profit to EBITDA 1 References: A. Consolidated statement of profit or loss and other comprehensive income in the financials statements B. Refer note 2.3 in the financial statements C. Refer 2.1.2 in the f
Slide 31: Appendix A4. Reconciliation: Statutory Operating Costs to Unit Costs
Appendix A4. Reconciliation: Statutory Operating Costs to Unit Costs Reconciliation: FY23 Statutory Operating cost to Operating cost – CIF and Operating cost (FOB, excl royalties) References: A. Operating Costs per the financial statements B. Refer to Note 2.1.2 in the financial statements for D&A i
Slide 32: Appendix B
Appendix B Important notices and other supporting information 32
Slide 33: Important notices
Important notices This document has been prepared by Pilbara Minerals Limited (“Pilbara” or “Pilbara Minerals” or the “Company”) and is dated 25 August 2023. Not an offer of securities This document is provided for informational purposes and does not constitute or contain an offer, invitation, solic
Slide 34: 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 and P1000 projects are underpinned by the Company’s existing Ore Reserv
Slide 35: Supporting data: Hard-rock Mineral Resources
Supporting data: Hard-rock Mineral Resources (slide 22) Resource Contained Contained Announcement Total Company1 Project name Stage Location Announcement title grade Li2O LCE date (Mt) (% Li2O) (Mt) (Mt)2 1 Pilbara Minerals Pilgangoora Production Australia Substantial Increase to Pilgangoora Mineral
Slide 36: Pilgangoora Mineral Resources and Ore Reserves
Pilgangoora Mineral Resources and Ore Reserves (slide 23) Notes Category Tonnes Li20 Ta2O5 Fe2O3 Li2O Ta2O5 1. Totals may not add up due to rounding. 2. All Open-pit Ore Tonnes are defined using the weighted average cost and recovery of the (Mt) (%) (ppm) (%) (Mt) (M lb) Pilgan and Ngungaju Plants.