Nickel Asia Corp. · PSE:NIKL
Nickel Asia — FY2023 Earnings Presentation
21 slides from Nickel Asia's earnings presentation, Mar 13, 2024
Slide 1: Nickel Asia Corp. FY-23 Earnings
Slide 2: Disclaimer
DISCLAIMER This presentation and the information contained herein as well as the materials distributed herewith ("Presentation") are the sole and exclusive property of Nickel Asia Corporation ("NAC") and shall only be used for the purpose intended herein, This Presentation is not intended to provide
Slide 3: Financial Highlights (FY-23 vs FY-22)
FINANCIAL HIGHLIGHTS (FY-23 VS FY-22) Revenue (PHP bn) ™Sale of orem Services and others 274 29.0 " ma oe 2019 2020 2021 2022 2023 2019 EBITDA (PHP a 4 14. 2020 2021 2022 2023 2019 Net Income (PHP bn) 78 79 ; L i : 2020 2021 2022 FY-23 EBITDA Margin‘ Net Income Margin ‘Ave. Ni LME price per pound (U
Slide 4: 2024 Cash Dividend Declarations
2024 CASH DIVIDEND DECLARATIONS Total Dividend % of 2022 Per Share 0 ATA in Billion Php Net Income Regular Cash Dividend PO.08 P1125 30.0% Proposed Special Cash Dividend PO.05 PO.750 20.0% Total Cash Dividend for 2024 P0.13 P1.875 50.0% Declaration Date: March 13, 2024 Record Date: March 27, 2024 Pa
Slide 5: Shipments and Revenues by Ore Type
SHIPMENTS AND REVENUES BY ORE TYPE Sales Volume (in millions WMT) 7.53 -3.3% YoY Limo HPAL ake +9.5% YoY Ore exports FY-22 FY-23 mOre Exports mHPAL Deliveries Average Ore Sale Prices (in US$/WMT) Ore Exports 39.4 14.7 HPAL Deliveries 18.7 mFY-23 mFY-22 Ore Revenue (in PHP bn) 21.4 61 15.3 FY-22 FY-2
Slide 6: Revenue - Variance Analysis
REVENUE - VARIANCE ANALYSIS Full Year Period Comparison Sales Volume (in millions WMT) FY-23 16.452 FY-22 15.938 Sales Price (in USD$ per WMT) FY-23 23.30 FY-22 29.17 FX Rate (PHP/USD) FY-23 55.78 FY-22 54.90 28,003 12M-2022 Revenues, in Php Millions, 12M-2023 v 12M-2022 1,895 Le | 250 108 774 24,70
Slide 7: Cost & Expenses - Variance Analysis
COST & EXPENSES - VARIANCE ANALYSIS Full Year Period Comparison Sales Volume (in millions WMT) FY-23 16.452 FY-22 15.938 Fuel Prices (P/Liter) FY'23 $3.16 FY'22 8.80 18,000 16,000 14,000 12,000 10,000 15,364 12-2022 Costs and Expenses, in Php Millions, 12M-2023 v 12M-2022 219 OT 7) a 25 15 (662) Due
Slide 8: Net Income - Variance Analysis
NET INCOME - VARIANCE ANALYSIS Full Year Period Comparison Net Income (in Peso billions) 10.0 -53% YoY change in Mining operation earnings due to lower price and HPAL performance FY-22 FY-23 mmm NAC Net-Income Combined HPAL losses reached P1 billion Reported attributable net income at P3.7 billion,
Slide 9: Investment in HPAL Equity Earnings
INVESTMENT IN HPAL EQUITY EARNINGS 1,200 1,000 800 600 400 200 (200) (400) (600) Equity Earnings, in PHP Millions (FY-23 VS FY-22 comparison) 1,024 752 190 (215) FY-22 FY-23 mTHPAL ®CBNC * The reduced Nickel and Cobalt prices had impacted Equity earnings from investments in the HPAL operations
Slide 10: JSI Financial Highlights (FY'2022 to FY'2023)
JSI FINANCIAL HIGHLIGHTS (FY'2022 to FY'2023) FY'2022 Generation (in MWh) FY'2023 mFY'2022 © FY'2023 EBITDA (in PHP millions) FY'2022 FY'2023 MFY'2022 © FY'2023 [ Ue AYERS) | Wendin ——__________ Generation (in MWh) 114,824 143,770 25% 2023 operating capacity increased to 100-MW from 62 MW in the pre
Slide 11: Development Pipeline
Slide 12: Mining Development Pipeline
MINING DEVELOPMENT PIPELINE DINAPIGUE BULANJAO MANICANI Total Resources as of 129 M WMT @ 1.12% Ni 56 M WMT @1.38% Ni 43 M WMT @1.59% Ni 12/31/2022 41 M WMT @ 1.35% Ni 20 WMT @ 1.54% Ni 25 M WMT @ 1.77% Ni Saprolite resources 88 WMT @ 1.02% Ni 36 WMT @ 1.30% Ni 18 M WMT @ 1.35% Ni Limonite Resources
Slide 13: EPI's Solar Projects Under or to Start Construction in 2023
EPI’S SOLAR PROJECTS UNDER OR TO START CONSTRUCTION IN 2023 JSI Subic Cawag Leyte Project Operating Capacity 172 MW Capacity Under Construction Already completed. 145 MW 240 MW or For Construction The incremental Attribute capacity Already completed. 145 MW 144 MW under construction to EPI (in MW) O
Slide 14: EPI's Geothermal Pipeline
EPI’S GEOTHERMAL PIPELINE Capacity BILIRAN (BGI) Initially SO MW (PSO of 200 MW+) Attributable MW to EPI 22MW Proof of Concept Pilot Project 100% complete with turbines installed; Testing and commissioning in 1Q2024 Development Next phase: Finalizing development plan for 10 MW, leading to 50 MW. Com
Slide 15: EPI's Projected Capacity Buildup of Generation Assets
EPI'S PROJECTED CAPACITY BUILDUP OF GENERATION ASSETS (Gross Capacity, MW) 3,000 2,500 2,000 1,500 1,000 500 . . 2,59 2,614 . 145 173 194 OO 2023 2024 2025 2026 2027 2028 ™ Operational mUnder Construction mAdvance Development m Early Development Load profile being developed to serve solar peak and n
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Slide 17: Regulatory Updates
REGULATORY UPDATES House Bill No. 8937 was approved on second reading last September 18, 2023. “Philippine Mining Fiscal Regime Act” Legislative features Existing Comments or House Bill No. 8937 NAC mines benefit. 1. Royalty Rate for operations within NAC’s three mine sites, TMC, HMC, and mineral re
Slide 18: Nickel Deficit Is Inevitable Beyond 2027
NICKEL DEFICIT IS INEVITABLE BEYOND 2027 IMPLIED UPSIDE TO NICKEL PRICES Nickel Demand Supply forecast 2020 - 2032, in kt Ni For 2023-2027, we assume an 7,000 optimistic launch 400 of all announced HPAL projects, 6,000 with no delays. 200 5,000 ---saS3A-)-<*-----Se=757------ SX ----- .- 4,000 (200)
Slide 19: Sustainability
SUSTAINABILITY one
Slide 20: Awards and Recognition
x FinanceAsia ASIA’S BEST COMPANIES FINANCEASIA ASIA'S BEST COMPANIES NAC received a Gold citation and was one of only four companies in the Basic Materials Company sector recognized this year by FinanceAsia, the premier capital markets publication in the region. KSIAMONEY | @PSE ASIAMONEY PHILIPPIN
Slide 21: Disclaimer
DISCLAIMER This presentation and the information contained herein as well as the materials distributed herewith ("Presentation") are the sole and exclusive property of Nickel Asia Corporation ("NAC") and shall only be used for the purpose intended herein, This Presentation is not intended to provide