Sylvania Platinum Ltd. · LSE:SLP
Sylvania Platinum — Investor Presentation (May 2025)
31 slides from Sylvania Platinum's investor presentation, May 2025
Slide 1: Corporate Presentation
SYLVANIAPLATINUM.COM Corporate Presentation May 2025
Slide 2: Disclaimer
Disclaimer • This document, which is personal to the recipient and has been issued by Sylvania Platinum Limited (the “Company”), comprises written materials/slides for presentations and discussions to be held in May 2025. This document does not constitute or form part of any offer or invitation to s
Slide 3: About us
About us… Vision To be the best mid-tier platinum and associated metals producer in the world. WE VALUE THE SAFETY AND HEALTH OF ALL Mission To grow our low-cost and efficient business by leveraging our existing asset base, and continuing innovation through existing and future strategic WE VALUE THE
Slide 4: Operations
OPERATIONS SYLVANIAPLATINUM.COM
Slide 5: Operations
Operations Sylvania Dump Operations ▪ Cash generative, lower-cost operations on the Eastern and Western Limbs of the Bushveld Igneous Complex (BIC), South Africa. ▪ The Sylvania Dump Operations (SDO) comprises six chrome beneficiation and PGM processing plants, treating a combination of run of mine
Slide 6: Exploration Assets
Exploration Assets Volspruit ▪ Volspruit, located at the southern end of the Northern Limb of the BIC, is a shallow PGM-Ni-Cu deposit. ▪ Research and development continues on exploring opportunities for upgrading the ROM feedstock while the project concentrates on obtaining all necessary permitting.
Slide 7: Performance Overview
Performance Overview Based on consolidated Q1, Q2 and Q3 results (“9 month” or “9M”) YTD FY2025 (9 months to 31 FY2024 FY2023 FY2022 FY2021 PERFORMANCE OVERVIEW March 2025) 4E PGM PRODUCTION Oz 59,888 72,704 75,469 67,053 70,043 6E PGM PRODUCTION Oz 77,279 92,426 95,965 85,659 94,041 GROUP CASH COST
Slide 8: SDO Production Profile
Operations SDO Production Profile Based on consolidated Q1, Q2 and Q3 results (“9 month” or “9M”) FY2025 Annual Production Target of 78,000oz to 80,000oz 9M FY2025 9M FY2025 9M FY2025 9M FY2025 PGM PRODUCTION PGM FEED TONS PGM FEED GRADE PGM RECOVERY ▪ FY2025 production guidance has been increased a
Slide 9: Financial Performance
Financial Performance EBITDA 6E REVENUE Positive cash generation 100 000 100% Consensus 90 000 pricing 80 000 Strong balance sheet 70 000 Chrome price - 10% Ru 4% Ir 11% 60 000 Au 0% Chrome price + Capital allocation 50 000 10% Pt 37% 40 000 - Operational improvements Consensus PGM 30 000 - Growth a
Slide 10: Growth
GROWTH SYLVANIAPLATINUM.COM
Slide 11: Thaba JV
Thaba JV Thaba JV Project Progress Chrome Ore and PGM Treatment ▪ Project design and execution Joint Venture (JV) ▪ All project design work, fabrication and delivery of mechanical items complete. ▪ First PGM beneficiation facility on primary ▪ Phased commissioning commenced during May 2025, starting
Slide 12: Thaba JV
Thaba JV Total Project 4E PGM oz Total Project Chromite Total Project Capital Simple Payback Life of Project JV Participation 13,600oz/year Concentrate tons 10 years (16,200oz 6E) 420,000t/year ~$47m <3 years 50% Thaba JV - Attributable Tons Treated & Chrome Thaba JV - Attributable PGM Production Th
Slide 13: Exploration | Volspruit
Exploration | Volspruit Volspruit Combined open-pit Mineral Resource The Volspruit Project represents a new at 100% attributable basis (Earthlab, February 2024) opencast PGM–Cu-Ni resource in a mature Tonnage @ 3E+Au Cu Ni Classification 3E+Au (Oz) mining jurisdiction with excellent infrastructure.
Slide 14: Exploration | Far Northern Limb
Hacra Exploration | Far Northern Limb AURORA Significant opencast potential - PGM–Cu-Ni resource open at depth (>200m). • Initial MRE for T-Zone resources on La Pucella only declared in October 2022 - ~12% of the overall project area. • Results from recently completed geophysical survey utilised in
Slide 15: Focus on PGM & Chrome Co-production
Focus on PGM & Chrome Co-production ▪ PGMs and chromite both occur in the same primary chrome ores (MGs and LGs) and primary PGM UG2 ores in the South African Bushveld Complex. ▪ Co-existence enables exploitation of otherwise uneconomical chrome or PGM ores, if only one of the metals were to be targ
Slide 16: Growth Projects Outlook
Growth Projects Outlook FY2025 FY2026 – FY2028 Existing SDO operations Existing SDO operations ▪ New higher-grade current arisings feed source at Lesedi – host-mine ROM ▪ Potential new ROM circuit at Millsell plant to accommodate additional ROM plant commissioned in October 2024 and expecting steady
Slide 17: ESG & Shareholder Returns
ESG & SHAREHOLDER RETURNS SYLVANIAPLATINUM.COM
Slide 18: Environment, Social and Governance (ESG)
Environment, Social and Governance (ESG) Environment Social Governance Sylvania Platinum Limited integrates sustainability into its core strategy by recovering PGMs from historical mine ▪ Reducing historical mining waste ▪ Zero fatalities since commencing ▪ QCA Corporate Governance tailings — reduci
Slide 19: Shareholder Returns
Shareholder Returns DIVIDEND POLICY Total dividends DIVIDEND The Company intends to distribute HY1 FY2025 interim a minimum of 40% of the adjusted paid to dividend paid 0.75 pence per Ordinary Share shareholders $107.4 million free cash flow* for the financial (2018 to H1 year. Where annual dividend
Slide 20: Market Overview
MARKET OVERVIEW SYLVANIAPLATINUM.COM
Slide 21: PGM basket composition and price trend
PGM basket composition Gross PGM Metal Price per Ounce 4E and price trend 4E PGM USD Q Basket Price 4E PGM ZAR Basket Price $5 000 R50 000 ▪ Sylvania’s rhodium (Rh) percentage is $4 000 R40 000 typically higher than average UG2 and Merensky ores, and palladium (Pd) $3 000 R30 000 portion lower. $2 0
Slide 22: PGM Industry Cost Curve
PGM Industry Cost Curve Global PGM Cash Cost + Capex Curve (CY24E at Spot) 0 500 1 000 1 500 2 000 2 500 3 000 3 500 4 000 4 500 5 000 5 500 6 000 6 500 7 000 7 500 8 000 8 500 40 000 40 000 Cumulative annual production (4E Koz) 35 000 Spot basket price received (4E) 50th Percentile Spot basket pric
Slide 23: PGM Market Demand Supply Outlook
PGM Market Demand Supply Outlook ▪Auto Catalysts primary demand driver for ▪ South Africa still largest primary producer of ▪ Pt, Pd and Rh to be in deficit for 2025 and PGMs (49% Pt, 83% Pd, 95% Rh). Pt and Rh (~72% of Pt and 81% Rh), and near term. ▪Car sales recovering (~92-94 million forecast si
Slide 24: Chrome Market Demand Supply Outlook
Chrome Market Demand Supply Outlook ▪ China is largest consumer of chrome ore ▪ South Africa is home to ~72% of the global ▪ Robust outlook in terms of demand and globally (~90%), with Indonesia also chromite resources. pricing. becoming a significant consumer (~8% in ▪ South Africa is leading produ
Slide 25: Investment Case
INVESTMENT CASE SYLVANIAPLATINUM.COM
Slide 26: Investment Case
Investment Case Dedicated to delivering consistent shareholder returns through Strong, reliable production, dividends and share buybacks. maintaining low-cost operations. ESG principles embedded in the core of the business operations. Robust cash generation, Harnesses the offering ample full potenti
Slide 27: Contact details
Sylvania Platinum Limited BlytheRay (COMMUNICATIONS) Jaco Prinsloo / Lewanne Carminati Tim Blythe / Megan Ray +27 11 673 1171 +44 20 7138 3204 Sylvania@blytheray.com Panmure Liberum Limited (NOMAD and Joint Broker) Joh. Berenberg, Gossler & Co KG, London Scott Mathieson / John More / Joshua Borlant
Slide 28: Thank You
THANK YOU SYLVANIAPLATINUM.COM
Slide 29: Appendix
APPENDIX SYLVANIAPLATINUM.COM
Slide 30: Share Structure and Ownership
Share Structure and Ownership Capitalisation summary – 31 March 2025 Top shareholders Quoted: AIM Sylvania directors and related parties 1,27% Domiciled: Bermuda Barclays Wealth 3,10% Ticker symbol: SLP LN Halifax Share Dealing 3,40% Total shares in issue: 273,366,725 Premier Miton Investors 3,58% B
Slide 31: PGM Metal Price Scenarios
PGM Metal Price Scenarios Sources: 1 Internal Company Price Assumptions based on Consensus forecasts sourced from Industry partners. 2 Spot Prices are based on December 2024 actual metal prices and exchange rate. 3 Nedbank CIB Outlook - 15 January 2025 - Price Assumptions are based on “PGM Sector -