Amg Critical Materials N.v. · EURONEXT:AMG
Amg Critical Materials — Shareholder Meeting (2024)
29 slides from Amg Critical Materials's shareholder meeting presentation, 2024
Slide 1: Chart I: The Unconditional Pursuit of a Safe Workplace
CHART I: THE UNCONDITIONAL PURSUIT OF A SAFE WORKPLACE 2.00 INDUSTRY AMG DESCRIPTION AVERAGE 2023 Recordable Rate 3.90 0.90 1.46 Lost Time Rate 1.20 0.51 1.50 1.05 1.08 0.95 1.00 0.90 0.80 0.62 0.51 0.46 0.50 0.39 0.00 2019 2020 2021 2022 2023 Recordable Rate Lost Time Rate 1
Slide 2: Chart II: 2023 Financial Results
CHART II: 2023 FINANCIAL RESULTS (IN MILLIONS OF US DOLLARS) $1,643 $1,626 Revenue Adj. EBITDA $1,189 $1,205 $937 $343 $350 $121 $137 $67 2019 2020 2021 2022 2023 COVID 2
Slide 3: Chart III: 5-Year and 10-Year Adjusted EBITDA Growth Rates
CHART III: 5-YEAR AND 10-YEAR ADJUSTED EBITDA GROWTH RATES (IN MILLIONS OF US DOLLARS) $400 $350 $300 $250 $200 $150 C O V $100 I D $50 17% CAGR 30% CAGR $0 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 3
Slide 4: Chart IV: 5-Year Operating Cash Flow Growth Rates
CHART IV: 5-YEAR OPERATING CASH FLOW GROWTH RATES (IN MILLIONS OF US DOLLARS) $250 $200 $150 $100 C O V I $50 D 47% CAGR $0 2019 2020 2021 2022 2023 4
Slide 5: Chart V: Lithium and Vanadium: Top Energy Storage Transition Metals
CHART V: LITHIUM AND VANADIUM: TOP ENERGY STORAGE TRANSITION METALS Ratio of 2050 to 2022 demand under a net zero emissions scenario Lithium Vanadium Graphite Cobalt REEs Nickel Bauxite Chromium Copper Silicon Manganese PGMs Molybdenum Zinc Lead Silver 0 2 4 6 8 10 12 Other Use Energy Transition Sou
Slide 6: Chart VI: Grid, Intermittency, and Storage
CHART VI: GRID, INTERMITTENCY, AND STORAGE Fossil Fuel Solar/Wind Nuclear Base Demand GRID New e-Demand Vanadium Storage Lithium 6
Slide 7: Chart VII: AMG's Investment in Spodumene
CHART VII: AMG'S INVESTMENT IN SPODUMENE $300 $3,500 $3,000 $250 $2,500 $200 $M adjusted EBITDA $/mt Spodumene $2,000 $150 $1,500 $100 $1,000 $50 $500 $0 $0 2021 2022 2023 2024 Q1 AMG Brazil adjusted EBITDA Spodumene Price 7
Slide 8: Chart VIII: Spodumene Prices: What Is in the Plan?
CHART VIII: SPODUMENE PRICES: WHAT IS IN THE PLAN? $5,000 $4,500 $4,000 $3,500 $/mt Spodumene $3,000 $2,500 $2,000 $1,500 $1,000 $500 $0 Actual AMG Plan 8
Slide 9: Chart IX: Consensus View of the Forward Lithium Price
CHART IX: CONSENSUS VIEW OF THE FORWARD LITHIUM PRICE (SIMPLIFIED) LiOH Actuals and Futures $80,000 Oil Price Chart 1946-2024 $70,000 $60,000 $50,000 $/mt LiOH $40,000 $30,000 $20,000 $10,000 $0 Actual Futures Futures source: Chicago Mercantile Exchange group 9
Slide 10: Chart X: Factory Capacity Utilization in China
CHART X: FACTORY CAPACITY UTILIZATION IN CHINA Source: CEIC Data 10
Slide 11: Chart XI: AMG's Share Price - 2018 (Vanadium Spike) vs 2023 (Lithium Spike)
CHART XI: AMG’S SHARE PRICE - 2018 (VANADIUM SPIKE) VS 2023 (LITHIUM SPIKE) $60 V Spike Li Spike $7,000 $/lb. FerroVanadium $/mt Spodumene $50 $6,000 $40 $5,000 $4,000 $30 $3,000 $20 $2,000 $10 $1,000 $0 $0 Vanadium Spodumene 2018 2023 AMG Share Price (max) €53 €54 Market Capitalization €1.61B €1.74
Slide 12: Chart XII: New Corporate Organization
CHART XII: NEW CORPORATE ORGANIZATION AMG NV AMG Lithium BV AMG Vanadium AMG Technologies 100% 100% 100% AMG Brazil AMG Vanadium ALD 100% 100% 100% AMG Li AMG Titanium LIVA AMG Technologies (non-core) 25% 100% Zinnwald AMG Chrome 100% AMG Silicon 50% Lagoa SAR BV 60% AMG Graphite Other Resource Proj
Slide 13: Chart XIII: Leadership Dynamics
CHART XIII: LEADERSHIP DYNAMICS With the appointments of Ms. Ceccarelli (2014), Ms. Roby (2023), and Ms. Bottenbruch (2024), AMG now has 3 female Supervisory Board Members (43% of total) Donatella Ceccarelli Anne Roby Dagmar Bottenbruch With this AGM, Mr. Connor will join AMG’s Management Board as t
Slide 14: Chart XIV: AMG Lithium BV – Value Chain
CHART XIV: AMG LITHIUM BV – VALUE CHAIN Upstream – Brazil Downstream – Germany (1st of 5 modules) Future Technical Li Carbonate Grade Li Hydroxide Solid Battery Mibra Spodumene 16.5k tons 16.5k tons Electrolytes Grade Li Mine Expansion Current & Hydroxide Precursors 90k tons 130k tons TOLLING IN CHI
Slide 15: Chart XV: SP 1+
CHART XV: SP 1+ 15
Slide 16: Chart XVI: Bitterfeld – Europe's First Li Refinery
CHART XVI: BITTERFELD – EUROPE’S FIRST LI REFINERY 16
Slide 17: Chart XVII: Zinnwald Resource
CHART XVII: ZINNWALD RESOURCE ▪ Zinnwald (German Deposit) ▪ 193.5 Mt Ore ▪ 2.2 Mt LCE ▪ Cinovec (Czech Republic Deposit) ▪ 413.4 Mt Ore ▪ 4.5 Mt LCE * Values based on Measured & Indicated resources Among the largest undeveloped lithium resource in Europe within trucking distance from Bitterfeld refi
Slide 18: Chart XVIII: Zanesville (Ohio)
CHART XVIII: ZANESVILLE (OHIO) 18
Slide 19: Chart XIX: Growth of Vanadium Demand - Steel and Batteries
CHART XIX: GROWTH OF VANADIUM DEMAND - STEEL AND BATTERIES Demand by End Use 350 300 250 k tons Vanadium 200 Batteries 150 100 50 Steel - Source: CRU 19
Slide 20: Chart XX: Recycling vs Mining: AMG Vanadium's Cost and CO2 Advantage
CHART XX: RECYCLING VS MINING: AMG VANADIUM’S COST AND CO2 ADVANTAGE AMG Vanadium saves over 50 mt CO2 per ton of vanadium produced compared to Primary Producer Revenue EBITDA 2023 20
Slide 21: Chart XXI: Vanadium Electrolytes Nuremberg
CHART XXI: VANADIUM ELECTROLYTES NUREMBERG 21
Slide 22: Chart XXII: The Shell AMG Project in the Kingdom of Saudi Arabia
CHART XXII: THE SHELL AMG PROJECT IN THE KINGDOM OF SAUDI ARABIA 22
Slide 23: Chart XXIII: ALD Market Presence
CHART XXIII: ALD MARKET PRESENCE 23
Slide 24: Chart XXIV: A Typical ALD Product - EB Furnace for Titanium Aerospace Alloys
CHART XXIV: A TYPICAL ALD PRODUCT - EB FURNACE FOR TITANIUM AEROSPACE ALLOYS 24
Slide 25: Chart XXV: Thermal Barrier Coating (TBC) Market Leadership
CHART XXV: THERMAL BARRIER COATING (TBC) MARKET LEADERSHIP US Non-US 22 in operation 8 in operation 3 in installation 2 in installation 3 in planning 3 in planning TBC customers include GE/Praxair, Pratt & Whitney, Honeywell, Rolls Royce, and others 25
Slide 26: Chart XXVI: Global Need to Multiply Electricity Storage Capacity
CHART XXVI: GLOBAL NEED TO MULTIPLY ELECTRICITY STORAGE CAPACITY Global Gross Energy Storage Additions by Market 150 120 90 GW 60 30 37% CAGR - China US Europe RoW Energy storage additions came in at nearly a three-fold increase from a year ago and the largest year-on-year jump on record Source: Blo
Slide 27: Chart XXVII: LIVA
CHART XXVII: LIVA 27
Slide 28: Chart XXVIII: NewMOX: The Nuclear Fuel Cycle
CHART XXVIII: NEWMOX: THE NUCLEAR FUEL CYCLE UO2 Supply UO2 Fuel Element Manufacturing MOX fuel guarantees The NewMOX® facility is a a sustainable fuel modular facility to provide supply for SMRs Pu Stock MOX fuel for SMRs NEWMOX® MOX FUEL MANUFACTURING Nuclear SMR Reprocessing Waste Dep. Uranium Th
Slide 29: Chart XXIX: Strategy Based on First Mover Innovations
CHART XXIX: STRATEGY BASED ON FIRST MOVER INNOVATIONS ➢ Spodumene Plant from Tantalum AMG Lithium ➢ First European BG Lithium Hydroxide Refinery ➢ Zanesville Plant (defining world leadership) AMG Vanadium ➢ Gasification Ash into Vanadium Electrolyte ➢ KSA SuperCenter Project (follow-on) ➢ First LIVA