Bci Minerals Ltd · ASX:BCI
Bci Minerals — Noosa Mining Conference 2025
34 slides from Bci Minerals's conference presentation, Jul 23, 2025
Slide 1: Noosa Mining Conference
23-25 July 2025 ASX Code: BCI For personal use only Noosa Mining Conference Steve Fewster, CFO
Slide 2: World's most significant new industrial salt producer
World’s most significant new industrial salt producer For personal use only ASX:BCI Share price (AUD) 12-months Our Shareholders ASX.BCI $1.1b to July 2025 Invested to date in salt Market capitalisation of $0.40 and port assets $1.0 billion inclusive of SOP pilot plant and $0.35 Other working capita
Slide 3: Attractive Returns Profile
Attractive Returns Profile Debt Free3 Commence paying tax For personal use only 300 14 • Potential first Dividend2 • Debt Principal 13 Repayment Starts 12 Estimated Distribution Per Diluted Share (Cents) 250 ~$255 million pa. average cashflow, in real 11 FCF Available to Equity Holders ($m)1 terms,
Slide 4: Why add salt to your portfolio?
Why add salt to your portfolio? For personal use only Annuity style The world needs salt It’s sustainable return profile1 ✓ Critical mineral and ✓ Infinite natural resource ✓ Long life assets >60 years essential compound ✓ Produced from seawater ✓ Salt and Port capex and ✓ Broad range of uses ✓ 99%
Slide 5: Salt: the hidden ingredient in everyday life
Salt: the hidden ingredient in everyday life For personal use only 5
Slide 6: BCI Minerals – Salt-first strategy
BCI Minerals – Salt-first strategy For personal use only Our vision is to create long-term sustainable Our purpose is to develop and operate the Mardie Project to consistently opportunities and value for our team, communities, deliver low-cost, world-class, sustainable, and high-quality and sharehol
Slide 7: Mardie is located within a proven solar salt region
Mardie is located within a proven solar salt region For personal use only Broome #1 #3 115km 2 Karratha Largest salt Third largest Significant Exmouth Newman producer in producer globally footprint Australia 1st 100 % ~5.3m Geraldton Kalgoorlie Quartile cost Owned and Tonnes of high- Perth producer
Slide 8: Mardie scale: 38km long and ~115km2 footprint
For personal use only Mardie scale: 38km long and ~115km2 footprint 8 8
Slide 9: How we operate
How we operate Our minerals and infrastructure allow our customers to produce products that we rely on and consume everyday. We combine natural resources and innovation to produce sustainable, high-quality minerals for the industrial and agriculture sectors ready for export to global markets via our
Slide 10: Operations near term target
Operations 1 2 3 Near term target For personal use only Ponds 1-3 for December 2026 first salt on ship: ✓ 90% surface 4 5 6 area covered in Ponds 1 – 9 Ponds 4-6 during August 2025 ✓ 77% surface area covered at 27 June 2025 7 8 9 ✓ On track to Ponds 7-9 achieve August target 10 PSWI – Primary seawat
Slide 11: Salt-first construction 69% complete
Salt-first construction 69% complete For personal use only Project remains on budget and on schedule 11
Slide 12: Positive Salt Market Outlook
Positive Salt Forecast supply shortfall is positively affecting salt Asia Demand vs Supply1 price forecast Market Outlook 240 230 Mardie first salt on ship 220 Forecast Supply For personal use only +16% shortfall Three binding Offtake Agreements with tier 210 Mt 1 customers: 200 190 ✓ Markets: China
Slide 13: First quartile cost producer
For personal use only FOB, US$/t 0 10 20 30 40 50 60 India Ist Tier Mexican 1 Source: Wood Mackenzie, BCI analysis Australia 1-2 Mardie Salt Only Australia 3-4 India 2nd Tier Australia 5 India 3rd Tier Chile Chinese Solar Other Shandong Solar Capacity (Mt) Tianjin Solar Egypt First quartile cost pro
Slide 14: Roadmap to Revenue
Roadmap to Revenue First Salt on Ship Mardie Salt Brine to enter Completion of First harvest For personal use only Crystallisers SWP construction crystallisers crystallisers washed and inundated complete construction stockpiled CY2025 CY2026 Secondary seawater Ponds 1 – 9 First salt SWP commissionin
Slide 15: Investment Highlights
Investment Highlights For personal use only Premium product, Favourable Sales agreements Strong forecast Short runway large scale market outlook in place returns to profitability ✓ Largest salt project in ✓ Forecast supply ✓ Secured 62% offtake ✓ 60+ years ✓ Salt first EBITDA Australia shortfall vol
Slide 16: Winning as One Team
Winning as One Team For personal use only Sarah Hodge Steve Fewster Manager Investor Relations Chief Financial Officer sarah.hodge@bciminerals.com.au steve.fewster@bciminerals.com.au 0437 962 666 Scan the QR code to learn more about BCI Minerals and Mardie. 16
Slide 17: Important Notices
Important Notices Not an offer of securities This document has been prepared by BCI Minerals Limited ABN 21 120 646 924 (BCI). This document does not constitute or contain an offer, invitation solicitation or recommendation with respect to the purchase or sale of any security in BCI. This document i
Slide 18: Appendices
ASX Code: BCI For personal use only Appendices 18
Slide 19: The safety of our team is our highest priority
The safety of our team is our highest priority For personal use only Total recordable injury frequency rate (rolling 12m) 136 8.00 Strong workforce 6.80 7.00 6.60 6.00 32% 5.00 4.20 4.10 4.00 3.90 4.70 4.60 Female participation 4.00 3.70 3.00 2.40 2.40 2.30 6.5% 1.80 1.80 2.00 1.00 Identify as Abori
Slide 20: Cape Preston West Port
Cape Preston West Port Owned and operated by BCI Minerals, the Port increases For personal use only export capacity in the Pilbara ✓ Multi-user port, providing valuable access for the region to global markets. ✓ Construction is over 91 per cent complete. ✓ Loading of up to Newcastle Max vessels. ✓ S
Slide 21: Sulphate of Potash (SOP)
Sulphate of Potash (SOP) Bringing to market valuable salt by-products For personal use only Produced downstream from Salt brine, Mardie’s SOP will be a nutrient rich source of potassium, essential for crops to grow BCI has conducted a FEED study for its Sulphate of Potash processing plant, with the
Slide 22: Steady Future Cashflow
Steady Future Cashflow1 Salt and SOP forecast to deliver strong operating cashflow to underpin sustainable returns for shareholders For personal use only ~$255 million pa. average cashflow, in real terms, available to equity 800 Potential for first holders1 excludes unrealised port potential dividen
Slide 23: Capital Management
Capital Management Salt construction and working capital fully funded Forecast available cashflow2 and debt repayment profile $m For personal use only • Long-term lending facilities, with a weighted average maturity of 10 years, NAIF ($490M) in 300 800 2039 700 250 • Green loan accreditation for com
Slide 24: Australia's largest and first major industrial Salt project in >25yrs
Australia’s largest and first major industrial Salt project in >25yrs For personal use only Image: Primary Seawater Intake Station 24
Slide 25: Transfer station 2/3
For personal use only Image: Transfer station 2/3 25
Slide 26: Mardie's operations are sustainable and low-cost
Australia's largest and first major Salt project in over 25 years – Mardie's operations are sustainable and low-cost For personal use only Image: Transfer station 2/3 26
Slide 27: Water in Pond
For personal use only Water in Pond 3 27
Slide 28: Seawater transfers into advanced solar crystallisers
Once the seawater makes its way through all 9 ponds, it transfers into advanced solar crystallisers For personal use only Water reaching transfer station 3/4 28
Slide 29: Water flowing through transfer station 6/7
For personal use only Water flowing through transfer station 6/7 29
Slide 30: Secondary seawater intake
For personal use only Secondary seawater intake 30
Slide 31: Filling of the crystallisers
For personal use only Filling of the crystallisers to support FSOS in December 2026 31
Slide 32: Sulphate of Potash pilot ponds construction
For personal use only Construction works at the Sulphate of Potash pilot ponds 32
Slide 33: Jetty head installed at Cape Preston West Port
For personal use only The jetty head installed at Cape Preston West Port 33
Slide 34: Jack-up Barge removed and jetty head installed
Jack-up Barge removed and jetty head installed with ship loader For personal use only 34