Syrah Resources Limited · ASX:SYR
Syrah Resources — Shareholder Meeting (May 2025)
28 slides from Syrah Resources's shareholder meeting presentation, May 23, 2025
Slide 1: Annual General Meeting
Annual General Meeting 23 May 2025 Shaun Verner – Managing Director & CEO For personal use only syrahresources.com.au Syrah Resources | ASX: SYR1 22 May 2025
Slide 2: Important notice and disclaimer
Important notice and disclaimer This presentation is for information purposes only. Neither this presentation nor the information contained in it constitutes an offer, Investor Relations invitation, solicitation or recommendation in relation to the purchase or sale of shares in any jurisdiction. Thi
Slide 3: Our Position
Our Position Syrah is a major ex-China natural graphite and active anode material (AAM) supplier for global customers, with upstream and downstream expansion potential underpinned by its world-class Balama resource For personal use only Natural graphite and Syrah is the only Balama is an up to Rampi
Slide 4: Our Value Proposition
Our Value Proposition Syrah is leading ex-China natural graphite and anode material production capacity and sales growth For personal use only Vertical Operating and Cost Position ESG Position Expansion Integration Development Potential ▪ Natural graphite ▪ Largest integrated ▪ Cost competitive ▪ Le
Slide 5: Syrah's Positive ESG Profile
Syrah’s Positive ESG Profile For personal use only Strong ESG Performance Guided by best practice Low carbon footprint Auditable back to source sustainability frameworks ✓ IRMA-50 Achievement Level ✓ Sustainability frameworks guided ✓ Independent life cycle assessment ✓ Fully integrated by Syrah fro
Slide 6: Balama achieves IRMA sustainability level of performance
Balama Syrah’s achieves IRMAStrategy Sustainability 50 level of performance For personal use only 6
Slide 7: Q1 2025 ESG Dashboard
Q1 2025 ESG Dashboard Group Safety and Environment Performance 1.5 TRIFR 3.4 AIFR 0 Workplace For personal use only fatalities to date 1,053 248 0 Number of days Number of days Environmental since a Lost Time since a Lost Time Incidents in Injury at Vidalia Injury at Balama Q1 Group Gender Diversity
Slide 8: Partnering with the community and stakeholders for sustainability
Syrah is committed to partnering with the community and stakeholders for sustainability For personal use only Local Development Social Responsibility Economic Contribution Stakeholder Engagement Delivering on local development Transparent and ethical approach to $117M (1) USD paid in salaries in Str
Slide 9: USD $4.1M invested in community development at Balama
USD $4.1M invested in community development at Balama Contributing to the development of the Balama District through investments in areas such as agriculture, education, health and infrastructure For personal use only 9
Slide 10: Health and Safety is Syrah's highest priority
Health and Safety is Syrah’s highest priority Whole-of-business approach to maintaining a strong health and safety culture For personal use only Leading Practice Standards Training Compliance Malaria Mitigation Strategy Emergency Response ISO:45001 Occupational Health and Safety Training in mandator
Slide 11: Group Health and Safety
Group Health and Safety Ongoing focus on in-field visible leadership safety interactions to drive a strong safety culture For personal use only 1,053 248 Number of days Number of days since a Lost Time since a Lost Time Injury at Vidalia Injury at Balama ✓ Health and safety remains Syrah’s number on
Slide 12: Leading practice environmental standards across operations
Leading practice environmental standards are maintained across Syrah’s operations For personal use only Environmental Management Water Management Tailings Management Waste Management ISO:14001 Environmental Management Continued focus on reducing water Alignment with leading practice TSF Waste manage
Slide 13: Balama achieves IRMA-50 level of performance
Balama achieves IRMA-50 level of performance Balama is the first graphite operation globally to complete an Initiative for Responsible Mining Assurance (“IRMA”) audit and attain an IRMA-50 achievement level For personal use only Balama was evaluated against out of which 40 Critical Requirements 26 c
Slide 14: Syrah supports and empowers its people
Syrah supports and empowers its people to reach their full potential For personal use only Diversity and Inclusion Employee Engagement Local Employment Learning and Development Committed to achieving and maintaining a Enhancing performance and engagement 1,127 (1) Mozambicans employed in direct Prio
Slide 15: Syrah's global business to supply growing battery anode demand
Syrah’s global business to supply growing battery anode demand For personal use only Vidalia, Louisiana, USA Balama, Cabo Delgado Province, Mozambique Sales and Marketing Hub, Dubai, UAE Contract Sales Liaison, Shanghai, China Corporate Office, Melbourne, Australia 15
Slide 16: 2024 focus areas
2024 focus areas Balama ‒ Maintained agile operations at Balama considering volatile sales demand conditions and low pricing For personal use only ‒ Resolution alignment with Mozambique Government on Balama protest actions ‒ Executing medium-term natural graphite sales strategy with additional offta
Slide 17: Vidalia is the cornerstone of Syrah's downstream business
Vidalia is the cornerstone of Syrah’s downstream business Downstream expansion is underpinned by Balama’s world-class resource Vidalia, USA Asia (ex-China) Joint Venture / Tolling (>20ktpa) For personal use only Technology Support to Third-Party (ex-China) Partners (>50ktpa) Europe Joint Ventures (>
Slide 18: Vidalia AAM Facility
Vidalia AAM Facility For personal use only 18
Slide 19: Vidalia AAM Facility
Vidalia AAM Facility Furnace Area Milling Area For personal use only Purification Area Nitrogen Plant 19
Slide 20: Balama Graphite Operation
Balama Graphite Operation Process Plant and For personal use only Tailings Storage Facility 20
Slide 21: Balama Graphite Operation
Balama Graphite Operation Ativa Pit Balama Solar and Photovoltaic Array For personal use only Tailings Storage Facility Product Warehouse 21
Slide 22: 2024 Financial Results Summary
2024 Financial Results Summary Revenue (US$m) Net Profit / (Loss) After Tax (US$m) For personal use only 2021 2022 2023 2024 106 48 (27) 29 32 (57) (85) 2021 2022 2023 2024 (125) Free Cash Flow (US$m)1 Cash and Cash Equivalents (US$m) 2021 2022 2023 2024 90 85 87 53 (54) (103) (135) (198) 2021 2022
Slide 23: China anode production continues to grow
China anode production continues to grow Global monthly EV sales (‘000 Units)1 China monthly AAM production (kt)2 For personal use only 240 2,000 220 1,800 +30% 200 1,600 180 1,400 160 1,200 +25% +54% 140 120 1,000 100 800 80 600 60 400 40 200 20 0 0 Sep 21 Sep 22 Sep 23 Sep 24 Mar 21 Mar 22 Mar 23
Slide 24: Market conditions remain challenging
Market conditions remain challenging Global EV sales1 vs. China anode production2 China natural graphite production vs. China anode production2 240 2,400 200 2,000 200 160 1,600 For personal use only 160 120 1,200 120 800 80 80 400 40 40 0 0 Jul-21 Jul-22 Jul-23 Jul-24 Jan-21 Jan-22 Jan-23 Jan-24 Ja
Slide 25: China graphite exports to Indonesia increasing
10 15 20 25 0 5 50 0 100 150 For personal use only Jan-Sep 2023¹ Oct 2023 Nov 2023 India Other Japan 2021 Dec 2023 Jan 2024 Feb 2024 1. Average monthly exports Mar 2024 Apr 2024 2022 May 2024 USA Jun 2024 Germany Jul 2024 Aug 2024 Sep 2024 2023 Oct 2024 Nov 2024 China natural graphite exports (kt) D
Slide 26: Intersection of Government and Market Factors
Intersection of Government and Market Factors Developments in any one of these factors could materially change near-term requirements for Syrah’s products, as there are limited other ex-China suppliers that can meet near-term demand For personal use only Permanent and discretionary Chinese Governmen
Slide 27: 2025 outlook
2025 outlook End-market growth ‒ Volatile near-term Chinese anode market conditions in contrast to strong medium and long-term outlook for ex-China AAM demand For personal use only Balama ‒ Restarting Balama production and sales following protest actions ‒ Improving Balama’s sales composition to ach
Slide 28: Syrah's targets embedding unique advantages
Syrah’s targets embedding unique advantages Recent milestones Key targets Dec-21 – Binding offtake agreement with Tesla for Vidalia AAM supply Capital Structure Jul-22 – US$102m binding loan from US DOE for the initial expansion of Vidalia Commercial and offtake sales from 11.25ktpa AAM For person