Slide 1: March Quarter FY25 Activities Presentation
17 April 2025 March Quarter FY25 Activities Presentation ASX:PLS
Slide 2: A global lithium materials supplier
A global lithium materials supplier Investment phase complete, now optimising Pilgangoora P680 and P1000 Projects complete – focus is now on optimisation and unit operating cost reduction 100% owned assets Pilgangoora a tier 1 producing asset with ~33 year mine life1 and Colina Project development a
Slide 3: Operation optimised for margin enhancement
Operation optimised for margin enhancement Progressive re-investment with market cycle delivers scale and expected unit cost reductions Annual spodumene concentrate production (kt) 1,200 P1000 operating model 3 1,000 P850 operating model 2 800 725 700-7401 620 600 378 400 281 200 175 91 Construction
Slide 4: March Quarter 2025 Key outcomes
March Quarter 2025 Key outcomes Pilgangoora Operation Projects and Financials Joint Ventures 3.22 total recordable injury frequency rate1. 3.23 quality safety • Colina Project acquired • Revenue of $150M supported by interactions completed per 1,000 hours worked2. through the acquisition of realised
Slide 5: Pilgangoora Operation
Pilgangoora Operation Another solid quarter with production to plan – adjusting for the impact of Cyclone Zelia • 3.22 total recordable injury frequency rate.1 • 3.23 quality safety interactions completed per 1,000 hours worked.2 • Production of 125.0kt was to plan, adjusting for the impact of Cyclo
Slide 6: Pilgan Plant entering optimisation phase
Pilgan Plant entering optimisation phase Successful March ramp-up quarter as expanded processing facility moves into optimisation phase March Quarter weekly Pilgan plant feed (kt) 100 The expanded processing plant successfully ramped-up Cyclone Zelia Planned shutdown 80 during the Quarter despite th
Slide 7: Strategically diversified portfolio
Strategically diversified portfolio Measured investments provide diversification and optionality Australia South Korea Brazil Pilgangoora Operation POSCO Pilbara Lithium Solution (PPLS) Colina Project Ngungaju Processing Plant 18% interest in PPLS lithium hydroxide (LH) On-strategy, counter-cycl
Slide 8: March Quarter Financials
March Quarter Financials Note: Throughout this presentation, amounts may not add due to rounding
Slide 9: March Quarter FY25 – vs Prior Quarter
March Quarter FY25 – vs Prior Quarter Production volume and unit costs reflecting a period of transition with P1000 Project tie in and ramp up Summary Operational and Financial Metrics Units Mar Q FY25 Dec Q FY25 (%) • Production volume of 125.0kt was 34% lower than the prior Quarter driven by: – A
Slide 10: March Quarter FY25 – Cash Flow Bridge
March Quarter FY25 – Cash Flow Bridge Positive cash margins supported by full implementation of P850 operating model Cash flow bridge – 31 December 2024 to 31 March 2025 ($M) • Cash balance at 31 March 2025 remains strong at $1.1B. 153 • Total cash outflow of $109M resulted in cash declining from 1,
Slide 11: Capital Management
Capital Management A disciplined focus on cost management has delivered a balance sheet that can withstand the cycle Ongoing cost reduction initiatives… Have supported… January • Reduced FY24 capital expenditure guidance by ✓ Capex reduced 2024 $55M - $100M. No dividend • No dividend since September
Slide 12: Market Update
®PLS Market Update
Slide 13: EV sales by month
EV sales by month Continued momentum experienced at the start of 2025 with February up 50% and March up 29% YoY Global EV sales outlook, all vehicle classes (thousand units)1 2,500 +29% 2,000 +16% +50% 1,500 1,000 500 - Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2022 2023 2024 2025 YTD 1. Rho M
Slide 14: BESS lithium demand growth
BESS lithium demand growth Battery Energy Storage System (BESS) market to drive growth in lithium demand with concentrated installation to date BESS installed capacity outlook by storage type, new additions (GWh)1 BESS installed capacity outlook by region, new additions (GWh)1 +68% 400 400 Grid Chin
Slide 15: End use application growth
End use application growth Significant growth expected in the EV and BESS markets to 2030 Growth in lithium battery demand by end-use 2025 (kt LCE)1 Growth in lithium battery demand by end-use 2030 (kt LCE)1 1,600 3,000 +22% +46% +4% +53% +17% p.a. +16% p.a. +4% p.a. +26% p.a. YoY YoY YoY YoY (CAGR)
Slide 16: Lithium demand forecast
Lithium demand forecast Lithium demand is expected to increase by 89% to 2030, with a 9% CAGR to 2040 Global lithium demand (kt LCE)1 Forecast Demand +9% p.a. 6,000 CAGR • Forecast increase of 89% from 2025 to the end of the decade.1 5,000 Long Term Growth Drivers • Growth drivers remain intact for
Slide 17: Questions
®PLS Questions
Slide 18: Contacts
Contacts Investor Relations James Fuller Group Manager Investor Relations T: +61 (0) 488 093 763 James.Fuller@pls.com Media Michael Vaughan Fivemark Partners T: +61 (0) 422 602 720
Slide 19: Appendices
®PLS Appendices
Slide 20: Physicals summary
Physicals summary Total Ore Mined and Processed Units Mar Q FY24 Jun Q FY24 Sep Q FY25 Dec Q FY25 Mar Q FY25 PCP FY24 YTD FY25 Ore mined wmt 1,535,521 1,841,748 1,388,698 1,191,453 1,137,437 4,565,286 3,717,588 Waste material wmt 7,761,304 7,407,146 8,078,567 5,728,569 4,503,580 23,468,273 18,310,71
Slide 21: Important notices
Important notices This document has been prepared by Pilbara Minerals Limited (PLS or the Group) and is dated 17 April 2025. This document should be read in conjunction with the ASX announcement titled “March Quarterly Activities Report” released to the ASX on 17 April 2025. Not an offer of securiti
Slide 22: Important notices
Important notices Important Information regarding Mineral Resources, Ore Reserves Information in this document regarding production targets and expansions in nameplate capacity of the Pilgangoora Operation in respect of the P850 and P1000 operating models and the P2000 expansion project, are underpi