Pls Group Limited · ASX:PLS
Pls — Pilbara Minerals — Shareholder Meeting (November 2023)
55 slides from Pls's shareholder meeting presentation, Nov 23, 2023
Slide 1: 2023 Annual General Meeting
Powering a sustainable energy future 2023 Annual General Meeting 23 November 2023 ASX:PLS 1
Slide 2: Evacuation procedure
eS Pilbara Evacuation procedure Minerals UNIVERSITY CLUB EVACUATION DIAGRAM WESTERN F io) AUSTRALIA In An Emergency DIAL 2222 You are here
Slide 3: Acknowledgement of Country
Acknowledgement of Country Pilbara Minerals acknowledges the Traditional Owners of the land on which we meet, the Whadjuk Noongar people, and pay our respect to Elders past and present. We also acknowledge the Traditional Owners of the land on which our Pilgangoora Operation is located, the Nyamal P
Slide 4: Pilbara Minerals' Board
Pilbara Minerals’ Board Tony Kiernan AM Dale Henderson Sally-Anne Layman Non-Executive Chair Managing Director and CEO Non-Executive Director Nick Cernotta Steve Scudamore AM Miriam Stanborough AM Non-Executive Director Non-Executive Director Non-Executive Director 4
Slide 5: Agenda
Agenda 1. Chair’s address 2. Meeting procedures 3. Resolutions, proxies and voting 4. Management presentation 5. Questions 5
Slide 6: Chair's Address
sy Pilbara Minerals Chair’s Address
Slide 7: Agenda
Agenda 1. Chair’s address 2. Meeting procedures 3. Resolutions, proxies and voting 4. Management presentation 5. Questions 7
Slide 8: How to ask a question
How to ask a question • To ask a written question select the Q & A icon • Select the topic your question relates to from the drop-down list • Type your question in the text box and press the send button • To ask a verbal question, follow the instructions under the broadcast window 8
Slide 9: How to vote
How to vote • When the poll is open, select the vote icon at the top of the screen Items of Business • To vote, select either For, Against or Abstain • You will see a vote confirmation 2A Re-elect Mr John Brown as a Director • To change or cancel your vote “click here to FOR AGAINST ABSTAIN change y
Slide 10: Agenda
Agenda 1. Chair’s address 2. Meeting procedures 3. Resolutions, proxies and voting 4. Management presentation 5. Questions 10
Slide 11: Overview of proxy votes
Overview of proxy votes RESOLUTION FOR AGAINST ABSTAIN DISCRETIONARY Resolution 1 1,276,966,483 100,926,136 1,656,413 7,826,764 Remuneration Report 92.15% 7.28% N/A 0.57% Resolution 2 1,353,989,566 30,259,571 1,442,539 7,937,514 Re-election of Ms Sally-Anne Layman as 97.26% 2.17% N/A 0.57% Director
Slide 12: Overview of proxy votes
Overview of proxy votes RESOLUTION FOR AGAINST ABSTAIN DISCRETIONARY Resolution 7 1,362,235,328 21,977,588 1,843,550 7,515,219 Issue of Share Rights to Mr Anthony Kiernan 97.88% 1.58% N/A 0.54% Resolution 8 1,362,165,192 22,082,004 1,614,827 7,537,635 Issue of Share Rights to Mr Nicholas Cernotta 97
Slide 13: Resolution 1 – Remuneration report
Resolution 1 – Remuneration report To consider and, if thought fit, to pass with or without amendment, as a non-binding resolution the following: “That, pursuant to and in accordance with section 250R(2) of the Corporations Act and for all other purposes, approval is given by the Shareholders for th
Slide 14: Resolution 2 – Re-election of Ms Sally-Anne Layman as Director
Resolution 2 – Re-election of Ms Sally-Anne Layman as Director To consider and, if thought fit, to pass with or without amendment, as an ordinary resolution the following: “That, pursuant to and in accordance with Listing Rule 14.4, clause 11.4 of the Constitution and for all other purposes, Ms Sall
Slide 15: Resolution 3 – Re-election of Mr Stephen Scudamore as Director
Resolution 3 – Re-election of Mr Stephen Scudamore as Director To consider and, if thought fit, to pass with or without amendment, as an ordinary resolution the following: “That, pursuant to and in accordance with Listing Rule 14.4, clause 11.4 of the Constitution and for all other purposes, Mr Step
Slide 16: Resolution 4 – Renewal of Employee Award Plan
Resolution 4 – Renewal of Employee Award Plan To consider and, if thought fit, to pass with or without amendment, as an ordinary resolution the following: “That, pursuant to and in accordance with Listing Rule 7.2 (Exception 13(b)), section 260C(4) of the Corporations Act and for all other purposes,
Slide 17: Resolution 5 – Amendments to existing securities under the Employee Award Plan
Resolution 5 – Amendments to existing securities under the Employee Award Plan To consider and, if thought fit, to pass with or without amendment, as an ordinary resolution the following: “That, subject to Resolution 4 being passed and pursuant to and in accordance with Listing Rule 6.23.4 and for a
Slide 18: Resolution 6 – Issue of LTI Performance Rights to Mr Dale Henderson
Resolution 6 – Issue of LTI Performance Rights to Mr Dale Henderson To consider and, if thought fit, to pass with or without amendment, as an ordinary resolution the following: “That, pursuant to and in accordance with Listing Rules 10.14 and 10.19, Part 2D.2 of the Corporations Act (including secti
Slide 19: Resolution 7 – Issue of Share Rights to Mr Anthony Kiernan
Resolution 7 – Issue of Share Rights to Mr Anthony Kiernan To consider and, if thought fit, to pass with or without amendment, as an ordinary resolution the following: “That, pursuant to and in accordance with Listing Rule 10.14, Part 2D.2 of the Corporations Act (including sections 200B and 200E of
Slide 20: Resolution 8 – Issue of Share Rights to Mr Nicholas Cernotta
Resolution 8 – Issue of Share Rights to Mr Nicholas Cernotta To consider and, if thought fit, to pass with or without amendment, as an ordinary resolution the following: “That, pursuant to and in accordance with Listing Rule 10.14, Part 2D.2 of the Corporations Act (including sections 200B and 200E
Slide 21: Resolution 9 – Issue of Share Rights to Ms Sally-Anne Layman
Resolution 9 – Issue of Share Rights to Ms Sally-Anne Layman To consider and, if thought fit, to pass with or without amendment, as an ordinary resolution the following: “That, pursuant to and in accordance with Listing Rule 10.14, Part 2D.2 of the Corporations Act (including sections 200B and 200E
Slide 22: Resolution 10 – Issue of Share Rights to Ms Miriam Stanborough
Resolution 10 – Issue of Share Rights to Ms Miriam Stanborough To consider and, if thought fit, to pass with or without amendment, as an ordinary resolution the following: “That, pursuant to and in accordance with Listing Rule 10.14, Part 2D.2 of the Corporations Act (including sections 200B and 200
Slide 23: Resolution 11 – Approval of Potential Termination Benefits
Resolution 11 – Approval of Potential Termination Benefits To consider and, if thought fit, to pass with or without amendment, as an ordinary resolution the following: “That, pursuant to and in accordance with Part 2D.2 of the Corporations Act (including sections 200B and 200E of the Corporations Ac
Slide 24: Resolution 12 – Increase in Non-Executive Directors' Fees
Resolution 12 – Increase in Non-Executive Directors' Fees To consider and, if thought fit, to pass with or without amendment, as an ordinary resolution the following: “That, pursuant to and in accordance with Listing Rule 10.17, clause 11.15 of the Constitution and for all other purposes, the maximu
Slide 25: Agenda
Agenda 1. Chair’s address 2. Meeting procedures 3. Resolutions, proxies and voting 4. Management presentation 5. Questions 25
Slide 26: Management Presentation
Powering a sustainable energy future Management Presentation 23 November 2023 ASX:PLS 26
Slide 27: Our purpose is making the world a better place by enabling the global energy transformation
ASX 50 company – A$10.7B market cap1 Our purpose is making the world a better place by enabling the global energy 100% owner of Pilgangoora transformation Operations - 8% of global lithium supply2 +70% increase in production capacity under construction2 Diversification into chemicals underway via PO
Slide 28: 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 29: Sustainability pillars
Sustainability pillars Responsible Valuing our Sustainable and ethical people operations actions Responsible Great people Make a positive and ethical that go home contribution, actions safe and well minimise our underpinning each day proud impacts and long-term of their leverage success contribution
Slide 30: FY23 operational highlights
FY23 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$4,447kt1 (~SC5.3%) 620.1kt Growth Chemicals Expansion P680 and P1000 POSCO JV plant 35% increase expansion projects progressed pro
Slide 31: 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 32: FY23 sustainability highlights
FY23 sustainability highlights AA 2.9 6MW 1 Holistic water MSCI ESG ratings balance safety interactions per solar farm (upgraded from A) 1,000 hours (>2.0 target) commissioned completed for Pilgangoora operations 78% 4.7 4 Environmental Management workforce growth total recordable injury new multi-y
Slide 33: Operate
sy Pilbara Minerals Operate
Slide 34: Strong operational performance – delivered to plan
Strong operational performance – delivered to plan Quarter on quarter performance • Pilgangoora Operations production delivered to plan in Q1 176.3 FY24 with scheduled maintenance shutdowns, including for P680 tie-ins, impacting production. 162.1 162.8 • FY24 production to be more heavily weighted t
Slide 35: Grow
Grow © Pilbara Minerals 35
Slide 36: Rapid production growth continuing with construction underway
Spodumene concentrate production Rapid production growth continuing with construction underway >10002 Approximately 2 70% increase in production capacity 6801 over the coming 2 years 620 Future expansion potential subject to successful Production Expanded nameplate capacity 1 Production nameplate ca
Slide 37: P680 - Primary Rejection Facility commissioned
P680 - Primary Rejection Facility commissioned Construction works completed safely with no major injuries throughout the project Dry and wet commissioning of the plant commenced First Ore achieved and ramp up to nameplate capacity in progress – targeting full run rate by the end of Q2 FY24 Primary R
Slide 38: Expansions underway to increase production
Expansions underway to increase production P680 – Crushing and Ore Sorting Facility under construction Integrated crushing and ore sorting facility schematic Crushing and ore sorting facility concrete poured 38
Slide 39: Expansions underway to increase production
Expansions underway to increase production P1000 Expansion under construction Pilgan Plant schematic P1000 foundations being poured i) existing plant infrastructure in dark grey ii) P1000 Project Expansion in dark blue 39
Slide 40: FY23 drill program increased Ore Reserve by 35%
FY23 drill program increased Ore Reserve by 35% Pilgangoora Ore Reserve increased 55 Mt to 214 Mt following FY23 drill program and Mineral Resource update1 Extends Pilgangoora Operations’ mine life by ~9 years to ~34 years2 Study commenced to explore potential further expansion of production capacit
Slide 41: Drilling intercepting mineralisation outside current pits
Drilling intercepting mineralisation outside current pits with further CY24 drilling program approved NORTH Resource development drilling NORTH has continued in the Central NORTH East area since August 2023 Resource update Several encouraging new zones Central Pit intercepted north of the Central- C
Slide 42: Chemicals
sy Pilbara Minerals Chemicals
Slide 43: Chemicals
Chemicals Strategically positioned to capture value across the lithium supply chain Upstream Mid-Stream Downstream Spodumene concentrate Lithium enriched product Lithium hydroxide ~5.2% >16% >99% purity lithia content1 lithium metal technical grade battery grade 2 3 1. Average grade of spodumene con
Slide 44: Downstream chemicals facility with POSCO
Downstream chemicals facility with POSCO Up to 30% equity participation in a 43,000 tpa lithium hydroxide facility in Gwangyang, South Korea in joint venture with POSCO 44
Slide 45: Strategic partnering process
Strategic partnering process Opportunity to access lithium raw materials from a world-class deposit Partnership opportunity with Pilbara Minerals on downstream lithium conversion facility in a mutually agreed location Long-term lithium supply up to 300,000 tpa spodumene concentrate allocated to unde
Slide 46: Markets
sy Pilbara Minerals Markets
Slide 47: Market pricing
Market pricing $90,000 $9,000 $75,000 $7,500 $60,000 $6,000 Hydroxide US$/t Spodumene US$/t $45,000 $4,500 $30,000 $3,000 $15,000 $1,500 $- $- 2017 2018 2019 2020 2021 2022 2023 Fastmarkets BG Hydroxide CIF Asia (US$/t) Fastmarkets BG Hydroxide EXW China (US$/t incl. VAT) Fastmarkets SPOT 6% spodume
Slide 48: Long term lithium deficit
Long term lithium deficit Expected deficit 7,000,000 Operational in lithium by 2040 is Secondary the equivalent of 6,000,000 Potential Demand 13–21 Pilgangooras 1 5,000,000 dependent on potential supply coming online 4,000,000 LCE Mt 3,000,000 Source: Benchmark Mineral Intelligence 2023. September Q
Slide 49: Agenda
Agenda 1. Chair’s address 2. Meeting procedures 3. Resolutions, proxies and voting 4. Management presentation 5. Questions 49
Slide 50: Thank you
sy Pilbara Minerals Thank you
Slide 51: 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 51
Slide 52: Appendix
Appendix Additional operational and financial information 52
Slide 53: Important notices
Important notices This document has been prepared by Pilbara Minerals Limited (“Pilbara” or “Pilbara Minerals” or the “Company”) and is dated 23 November 2023. Not an offer of securities This document is provided for informational purposes and does not constitute or contain an offer, invitation, sol
Slide 54: 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 55: Pilgangoora Mineral Resources and Ore Reserves
Pilgangoora Mineral Resources and Ore Reserves (slide 40) 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.
Pilbara Minerals — Shareholder Meeting (November 2023) on 6ix