Slide 1: European copper producer with operations in Spain
European copper producer with operations in Spain Q2 and H1 2024 Financial Results 14 August 2024
Slide 2: Disclaimer
Disclaimer The information contained in this document (“Presentation”) has been prepared by Atalaya Mining Plc (the “Company”). While the information contained herein has been prepared in good faith, neither the Company nor any of its shareholders, directors, officers, agents, employees or advisers
Slide 3: Disclaimer: Technical Disclosure
Disclaimer: Technical Disclosure Technical Disclosure – Proyecto Riotinto Unless otherwise noted, all scientific and technical information relating to Proyecto Riotinto is based on and derived from a Competent Persons Report (CPR) entitled “An Independent Competent Persons Report on the Mineral Asse
Slide 4: Q2 and H1 2024 Financial Results
Q2 and H1 2024 Financial Results
Slide 5: Review of H1 2024
Review of H1 2024 Good financial performance and further progress at key growth projects ‒ Copper production of 11.6 kt in Q2 2024 and 22.2 kt in H1 2024 ‒ Increased grades and strong plant performance expected in H2 2024 Operating ‒ AISC of $3.20/lb Cu in Q2 2024 and $3.19/lb in H1 2024, despite lo
Slide 6: Q2 2024 Production Results
Q2 2024 Production Results Improved grades and strong throughput expected in H2 2024 Copper production Ore Throughput (Mt) 11,583 tonnes Cu 14,212 tonnes Cu | Q2 2023 Throughput & recoveries 4.1 Mt ore processed 0.33% Cu ore grade Copper Recovery 4.1 Mt | Q2 2023 0.40% | Q2 2023 85.81% Cu recovery 1
Slide 7: Q2 2024 Financial Results
Q2 2024 Financial Results Good performance due to strong copper prices and cost control Income statement highlights Revenues (€m) Revenue: €92.2m Op. costs: €(65.8)m €78.2m | Q2 2023 €(62.5)m | Q2 2023 EBITDA: €26.4m Profits: €14.5m €15.7m | Q2 2023 €9.2m | Q2 2023 Cash flow statement highlights EBI
Slide 8: H1 2024 Financial Results
H1 2024 Financial Results Income statement highlights Revenue: €162.1m Op. costs: €(125.5)m €169.4m | H1 2023 €(129.3)m | H1 2023 EBITDA: €36.7m Profits: €16.1m €40.1m | H1 2023 €20.3m | H1 2023 Cash flow statement highlights Operating CF: Investing CF: €28.4m €(34.9)m €31.3m | H1 2023 €(16.7)m | H1
Slide 9: Cash Costs & AISC Breakdown
Cash Costs & AISC Breakdown Unit costs were within guidance range despite lower production $/lb Copper Payable Q2 2024 Q2 2023 H1 2024 FY2023 ▪ Cash costs and AISC were within Mining 1.04 0.79 1.01 0.86 the FY2024 Processing 0.83 0.82 0.87 0.89 guidance range Other site operating costs 0.63 0.52 0.6
Slide 10: AISC Benchmarking
AISC Benchmarking ATYM cost positioning is competitive vs. notable copper producer peers Reported AISC (US$/lb) Atalaya 29Metals Capstone First Quantum Constancia Copper Mountain Candelaria Neves-Corvo Lumwana Zaldívar (Hudbay) (now Hudbay) (Lundin) (Lundin) (Barrick) (Antofagasta / Barrick) Source:
Slide 11: 2024 Guidance
2024 Guidance Ongoing investments are expected to support growth and cost reductions Operational Guidance ▪ Production Mt ~16 Ore mined ‒ Guidance unchanged from Q2 2024 Operations Update Waste mined(1) Mt ~25 ‒ Improved grades and strong plant performance expected Ore processed Mt 15.3 – 15.8 in H2
Slide 12: 2024 Interim Dividend
2024 Interim Dividend Atalaya Dividend Policy 2024 Interim Dividend ▪ Seeks to provide returns to shareholders while ▪ US$0.04 per ordinary share allowing for continued investments in Atalaya’s ‒ Equivalent to ~3.1 pence per ordinary share portfolio of low capital intensity growth projects ▪ Currenc
Slide 13: Current Activities
ATALAYA MINING > Current Activities
Slide 14: Key Activities for 2024
Key Activities for 2024 Main Market: Admitted to trading on 29 April 2024 Re-domiciliation: Advancing process according to new Cyprus legislation E-LIX: Commissioning and ramp-up continues 50MW solar plant: Start-up is expected in late 2024 San Dionisio: Continuation of stripping activities and perm
Slide 15: San Dionisio
San Dionisio Waste stripping and permitting process continues at the higher-grade area August 2024 Copper Resource Grade (M&I) 15
Slide 16: 50 MW Solar Plant
50 MW Solar Plant Expected to lower Atalaya’s carbon footprint and deliver cost savings August 2024 Electricity Sources 16
Slide 17: E-LIX Phase I Plant
E-LIX Phase I Plant Commissioning in progress; expected to unlock significant value June 2024 Illustrative Recoveries 17
Slide 18: Proyecto Masa Valverde
Proyecto Masa Valverde Ongoing drilling to support design work for future ramp and ventilation shaft 18
Slide 19: Proyecto Touro
Proyecto Touro Stakeholder engagement is ongoing following awarding of “strategic” status 19
Slide 20: Proyecto Touro
Proyecto Touro Strong community support for a new sustainable copper mine in Galicia 20
Slide 21: Conclusion
ATALAYA MINING > Conclusion
Slide 22: Illustrative Production Potential
Illustrative Production Potential Growth driven by higher grades at Riotinto and potential Touro development Copper Equivalent Production (kt)(1)(2) 1. Recovered metal in concentrate. 2. Copper Equivalent production is calculated from results presented in the PEA and based on $3.50/lb Cu, $1.20/lb Z
Slide 23: Copper Supply: Structural Challenges
Copper Supply: Structural Challenges Falling production, rising costs at CODELCO support long-term copper outlook CODELCO Copper Production (kt) CODELCO Net Debt ($bn) Copper Price vs. CODELCO Cash Cost and Balance Sheet Source: CODELCO 23
Slide 24: Scarcity of Copper "Pure Plays"
Scarcity of Copper “Pure Plays” Atalaya is the 2nd largest copper “pure play” listed in London LSE Miners by Market Capitalisation (£bn) and Copper Contribution to Revenue Source: London Stock Exchange as at 31 July 2024, company filings Note: Copper revenue contribution based on last reported finan
Slide 25: Move to LSE Main Market
Move to LSE Main Market Admission marks a major corporate milestone for Atalaya Admission: 29 April 2024 25
Slide 26: Appendix
ATALAYA MINING > Appendix
Slide 27: Atalaya Snapshot
Atalaya Snapshot European copper producer with operations in Spain . Ticker Operations Asset locations ATYM Riotinto District TOURO LSE 15 Mtpa processing plant SPAIN Main Market Cerro Colorado mine MADRID San Dionisio deposit San Antonio deposit OSSA MORENA Capitalisation Proyecto Masa Valverde RIO
Slide 28: Key Information
Key Information Capitalisation Share Price Performance (GBp) Ticker - LSE: Main Market ATYM Share price (09-Aug-24) GBp 345 Basic shares m 140.8 Fully-diluted shares m 146.0 Market capitalisation (basic) £m 486 Market capitalisation (basic) US$m $619 Cash (at 30-Jun) €m 81 Debt (at 30-Jun) €m 28 Ent
Slide 29: Electricity Prices in Spain
Electricity Prices in Spain Market electricity prices have returned to long-run historical averages Spot Market + Adjustment in Spanish System (€/MWh)(1)(2) 1. Source: OMI, Polo Español S.A. (OMIE), day-ahead operations program 2. Since 15-Jun-2022, includes daily adjustment mechanism related to leg
Slide 30: Reserves and Resources
Reserves and Resources Attributable Grade Contained Metal Contained Metal Asset Ownership Tonnage Cu Zn Pb Au Ag Cu Zn Pb Au Ag CuEq Cu CuEq Notes Mt g/t g/t Mt Mt Mt Moz Moz Mt Mt Mt Cerro Colorado 100% Reserves 132.0 0.37% - - - - 0.5 - - - - 0.5 0.5 0.5 M&I 156.6 0.37% 0.15% 0.03% - - 0.6 0.2 0.0
Slide 31: Senior Management
Senior Management Decades of operations, project development and financial expertise Alberto Lavandeira César Sánchez Enrique Delgado Chief Executive Officer, Director Chief Financial Officer Operations – General Manager, Proyecto Riotinto Over 40 years’ experience Former CFO of companies in Former
Slide 32: Board of Directors
Board of Directors Mining, capital markets, sustainability and finance expertise Non-Executive Over 30 years’ experience investing in mining and oil and gas companies. From 2010-2020, was a Managing Director at J.P. Neil Chair of the Morgan Asset Management. Before that, from 1990-2009, was Head of
Slide 33: Atalaya Mining plc
Contacts: Atalaya Mining plc Alberto Lavandeira, CEO +34 959 59 28 50 info@atalayamining.com