Zccm Investments Holdings Plc Class B · EURONEXT:MLZAM
Zccm Investments Holdings Plc Class B — Investor Day (June 2026)
34 slides from Zccm Investments Holdings Plc Class B's investor day presentation, Jun 19, 2026
Slide 1: ZCCM Investments Holding Plc Capital Markets Day
ZCCM Investments Holding Plc Capital Markets Day 19 June 2026 Carré Edouard VII · Paris
Slide 2: Disclaimer
DISCLAIMER This document has been issued by ZCCM-IH Plc (the "Company") for information purposes only. It does not constitute or form part of any offer or invitation to sell or subscribe for shares in the Company in any jurisdiction, nor does it constitute a recommendation regarding the Company's sh
Slide 3: Agenda
01 ZCCM-IH Overview Agenda 02 Markets TODAY'S SESSION 03 Copper 04 Energy 05 Diversified Minerals 06 The Returns 07 Listing Optimisation 08 Q&A
Slide 4: ZCCM-IH Overview
KANSANSHI MINING PLC Expansion Facility
Slide 5: Sovereign-anchored, triple-listed, diversified: built for a 30-to-50-year horizon
Sovereign-anchored, triple-listed, diversified: built for a 30-to-50-year horizon. Shareholder structure 77.6% 15.0% 7.4% Government of the Republic of Zambia National Pension Scheme Authority Free float IDC 60.3% + Direct 17.3% NAPSA Public and institutional investors Triple-listed LuSE LSE Euronex
Slide 6: The Investment Case
The Investment Case No other listed company offers investors such a diversified portfolio of Zambian mineral and energy assets on one balance sheet. DIVERSIFIED MINERALS AND VALUE COPPER AND COBALT ENERGY • 99.95% Baseload factor at Maamba ADDITION Energy Ltd (MEL) and Ever Great • Gold and manganes
Slide 7: Diversified portfolio of Zambian mineral and energy assets on one balance sheet
No other listed company offers investors such a diversified portfolio of Zambian mineral and energy assets on one balance sheet. Figures show ZCCM-IH equity interest in each asset (%) Diversified minerals 6 assets Copper 9 assets Energy 5 assets Kariba Minerals 100% Mopani Copper Mines 49% Zambia Na
Slide 8: Markets: Why Copper, Why Zambia, Why Now?
Markets Why Copper, Why Zambia, Why Now?
Slide 9: Why Copper?
Why Copper? Energy-transition and AI demand is colliding with constrained supply. DEMAND ↑ ENERGY TRANSITION SUPPLY ↓ STRUCTURAL CONSTRAINTS • Electric vehicles use ~4× the copper of • Ore-grade decline at existing mines worldwide combustion cars vs • Long lead times: 15–20 years from discovery to •
Slide 10: Why Zambia, Why Now?
Why Zambia, Why Now? Production has turned a corner, with national ambition of 3Mt and Government actively backing the sector. 2024 2025 2026 2031 821,000Mt 890,346Mt (Target) (Target) +17.5% +8.5% 1Mt 3Mt Production Production Production growth National ambition growth growth • Mining absorbs 45% o
Slide 11: Copper: Predictable Cash, Growing Production
Copper Predictable Cash, Growing Production
Slide 12: Copper Portfolio: The Cash Engine
Copper Portfolio: The Cash Engine Royalty and strategic equity positions across the country's most significant copper resources. Kansanshi Royalty — US$137m from 2022 to H1 2025. The copper portfolio is Cash that arrives through the cycle, a royalty that pays regardless. focused on growing In 2023 a
Slide 13: Copper Portfolio: The Growth Pipeline
Copper Portfolio: The Growth Pipeline A funded production pipeline scaling through 2030–31. Mingomba CNMC Luanshya NFC Africa Mining STAKE 20% → 25% STAKE 20% STAKE 15% PARTNER KoBold Metals PARTNER CNMC PARTNER CNMC TIMELINE Online 2031 TIMELINE Shaft 28: August 2026 TIMELINE Expansion underway CAP
Slide 14: Copper Portfolio: The Turnaround Stories
Copper Portfolio: The Turnaround Stories Legacy assets stabilised, recapitalised and scaling, with strong partners. Mopani Lubambe Konkola Now Scaling Stabilising Recapitalising US$1.71bn US$300m US$1.1bn Historic debt resolved JCHX commitment to stabilise Vedanta investment and expand commitment Th
Slide 15: Energy: Cash-Generative and Expanding
Energy Cash-Generative and Expanding
Slide 16: Energy Portfolio: Base Load
Energy Portfolio: Base Load Two thermal baseload assets, Maamba and Ever Great, using clean CFBC technology to deliver reliable power without the environmental footprint. 1,200 MW 99.95% 35% / 30% CFBC Combined capacity Maamba load factor ZCCM-IH stakes Clean combustion tech Phase I & II Sector-lead
Slide 17: Energy Portfolio: Renewables
Energy Portfolio: Renewables Three renewable platforms, CEC, Maamba Solar and Zambia National Energy, building utility-scale clean power for the national grid. 230 MW 100 MW 312 MW Copperbelt Energy Corp. (CEC) Maamba Solar Energy Co. Ltd Zambia National Energy Corp. — Riverside, Itimpi I & II Solar
Slide 18: Diversified Minerals: Broadening the Base, Adding Value
Diversified Minerals Broadening the Base, Adding Value
Slide 19: Diversified Minerals & Value Addition
Broadening the base, adding value: extending Diversified Minerals & Value Addition exposure to Zambia's broader mineral base and moving up the value chain. GOLD PHOSPHATE Programme bringing the substantial The Sino Great commitment delivering Au P value-addition through fertiliser production artisan
Slide 20: Greenfield Exploration
Greenfield Exploration A nationwide exploration footprint defining the next generation of Zambian copper and diversified minerals. >55% Complete Nationwide aerial mineral mapping survey, identifying high-confidence targets across Zambia. Next Generation Portfolio of exploration licences defining the
Slide 21: The Returns
The Returns Financial Highlights, Dividends and Share Performance
Slide 22: Income Statement: Reflects Transition Costs
Income Statement: Reflects Transition Costs COMPANY GROUP Total Profit/(loss) Total Share of (Loss)/profit EPS EPS income for the year income P/L for the year ■ HY 2025 55 (7) (0.05) ■ HY 2025 37 (5) (31) (0.19) ■ 2024 131 (168) (1.04) ■ 2024 1,665 127 1,524 9.48 ■ 2023 252 236 1.47 ■ 2023 870 110 (
Slide 23: Balance Sheet: Equity Restored, Assets Resilient, Reduced Debt
Balance Sheet: Equity Restored, Assets Resilient, Reduced Debt COMPANY GROUP USD millions HY 2025 2024 2023 2022 USD millions HY 2025 2024 2023 2022 Non-current Non-current 2,697 2,171 1,309 1,078 2,127 1,812 1,152 2,044 assets assets Current assets 191 223 185 317 Current assets 203 237 1,119 769 T
Slide 24: ZCCM-IH Performance
ZCCM-IH Performance Dividends paid every year since 2015 — with consistent growth in total payout. US$75.2m 5.02% ≥35% Total Dividend in 5 years 2024 Dividend Yield Policy Minimum 2024 Highest in 5 years on LuSE closing price of unconsolidated NPAT FY Dividend per Share (USD) Total Payout (USD) Yiel
Slide 25: Active Listings
Active Listings Re-rating: Lusaka leads, Paris catches up US$1.4bn current market capitalisation LUSAKA RETURN PARIS RETURN INFLECTION RECENT TONE +295% +115% Mid-2025 Divergent ZMW 38 → 150 over 41 €1.43 → €3.08; flat through Both venues re-rated Lusaka softening (170 → months; outpaced Paris 2024,
Slide 26: Listing Optimisation
Listing Optimisation Improving Global Price Discovery and Liquidity
Slide 27: The Problem
Net book value of US$2.4bn significantly understated by listed prices. $8.70 $3.55 $1.65 LuSE / share Euronext / share LSE / share The Primary listing 59% 81% Problem discount to LuSE discount to LuSE ROOT CAUSES Severe price • Structural: Illiquid foreign lines versus a tighter LuSE float; arbitrag
Slide 28: Strategy
Improving global price discovery and liquidity I Market Structure Reform fragmented listings and registries II Liquidity Activate all three order books III Investor Perception Strategy Reset awareness and governance narrative IV Capital Structure Optimise share class and buybacks Five pillars to V R
Slide 29: The Programme
PHASE 1 PHASE 2 PHASE 3 LSE and Paris Stabilise LuSE Reach equilibrium • Shareholder register • Implement • Convergence clean-up (tracing fungibility around valuation and odd-lot offer) mechanisms between market price and NBV • Buybacks and • Seek additional across all The liquidity on LSE / Euronex
Slide 30: The Process
The share buyback process The share buyback process will be optional. An investor choosing not to proceed will benefit from the fungibility of the stock across the other exchanges. Treatment of 4 Repurchased Shares The 2 Articles of 3 Shareholder Approval • Held as treasury shares Association Proces
Slide 31: Outcomes & Roadmap
A fully optimised triple-listed structure EXPECTED OUTCOMES MARKET INVESTORS VALUE • Price • Broader • Sustainable convergence ownership uplift • Discount to • Global Outcomes & NBV gap reduced credibility Roadmap ACTION PLAN · 24 MONTHS What success looks 1 Foundation 3 months like, and the path Re
Slide 32: Merci
Merci
Slide 33: cry
cry En
Slide 34: ZCCM Investments Holdings PLC
Ct ae ~ LT ZCCM Investments Holdings PLC