Slide 1: Noosa Mining Conference
NOT FOR DISTRIBUTION IN THE US For personal use only ASX: MMI Noosa Mining Conference 18 July 2024
Slide 2: Disclosures
Disclosures IMPORTANT INFORMATION The purpose of this presentation is to provide general information about Metro Mining Limited (Metro or the Company) and it subsidiaries and business. NO OFFER OF SECURITIES This presentation is for information purposes only and does not constitute or form any part
Slide 3: ASX MMI: Tremendous Progress Made over the Last Year
ASX MMI: Tremendous Progress Made over the Last Year Recent Share Price Performance1 Shares on Market Share Price1 Issue Capitalisation For personal use only A$0.053 5,940 million A$315 million $0.053 Performance Pro-forma Net Warrants2 Rights Debt4 124.6 million 116.1 million A$60 million Top Share
Slide 4: ASX MMI: Low-cost, high-grade, Australian bauxite producer
ASX MMI: Low-cost, high-grade, Australian bauxite producer 1. Remove 2. Haul ore 5 – 22km 3. Screen bauxite 4. Load barges with 5. Tow barges to 6. Load OGVs using overburden & to port stockpile <100mm barge loader offshore anchorage transhippers mine using FEL For personal use only High quality Di
Slide 5: Strategy: Mt/a expansion provides pathway to lowest global delivered cost supplier to China
Strategy: 7 Mt/a expansion provides pathway to lowest global delivered cost supplier to China within steepening cost curve China Seaborne Bauxite Supply and Costs 2022 and 20261 For personal use only 100 2022 2026 90 80 2026 2022 70 US$/DMT CIF Shandong 60 50 40 30 20 10 0 0 50 100 150 200 Supply (M
Slide 6: Decarbonization expected to drive Global Aluminium demand up by ~40% by 2030
Decarbonization expected to drive Global Aluminium demand up by ~40% by 20301 Aluminium central to long-term renewable energy generation/storage, Global Aluminium demand expected to rise by ~40% by 20301 Electric Vehicles (EVs) and electrification thematics 35 2020 2030 For personal use only Trans
Slide 7: Robust supply / demand backdrop for bauxite price
Robust supply / demand backdrop for bauxite price China imports a good proxy for APAC traded market Australian bauxite benchmark price ~US$59/DMT+, up 48% since Jan ’221 Record bauxite imports to China in 2023, up 13% y-o-y For personal use only 6% YoY growth, 2024 YTD Traded Bauxite Price (US
Slide 8: 7+ million WMT expansion capacity ramping up in Q2 2024
7+ million WMT expansion capacity ramping up in Q2 2024 MINING & HAULAGE SCREENING BARGE LOADING TOWAGE TRANSHIPPING 7.5 Mt/a 9 Mt/a 8 Mt/a 7.5 Mt/a 9 Mt/a OPERATIONAL NOW OPERATIONAL NOW OPERATIONAL NOW OPERATIONAL NOW OPERATIONAL NOW BHM Daily operating rate (2022 to 2024 YTD; WMT/day; 5 day rolli
Slide 9: Offtake underpins expanded production: 100% contracted in 24
Offtake underpins expanded production: 100% contracted in 2024 New contracts add to existing baseload customers for 2024 offtake of 6.9 Mt For personal use only Longstanding baseload customers Contract offtake - Xinfa Xinfa Group and Xiangsen Aluminium Contract offtake - Xiangsen underpin offtake
Slide 10: Strong, simplified, flexible balance sheet post equity for debt raise
Strong, simplified, flexible balance sheet post “equity for debt” raise: Junior debt repayments in Q2 and Q3 2024 Capital raising significantly strengthens balance sheet For personal use only Net Junior Debt Accelerated debt repayments Mar ‘24 Warrants Proceeds of Pro Forma Repayment Offer $17m re
Slide 11: Accelerating studies to identify additional potential value-creation opportunities
Accelerating studies to identify additional potential value-creation opportunities Strategic Target Mining assets, new OFT Ikamba and wobbler screening circuit have significant latent capacity 0.5 M WMT/a Latent capacity in key For personal use only areas of flow sheet Productivity optimization
Slide 12: Highly experienced board with strong governance, bulk commodity operations and project experience
Highly experienced board with strong governance, bulk commodity operations and project experience For personal use only Douglas Ritchie Fiona Murdoch, Andy Lloyd Simon Wensley Mark Sawyer Independent Independent Independent CEO & Managing Non-Executive Non-Executive Chair Non-Executive Director Non-
Slide 13: Highly experienced management team with a strong performance culture
Highly experienced management team with a strong performance culture Executive Leadership Team For personal use only Diverse Broader Team 360 Simon Wensley Nathan Quinlin employee & contractor Robin Bates CEO & Managing Director Chief Financial Officer workforce CoSec and General Counsel 34 years
Slide 14: New Apron/Wobbler Feeder Screening Circuit in Operation
New Apron/Wobbler Feeder Screening Circuit- in Operation 12 May Wobbler circuit commission start 15 May first production, commissioning complete mid-June. For personal use only 1,500 tonnes per hour already achieved Various ore types and moistures already tested 14 | ASX : MMI | July 2024 I
Slide 15: Ikamba – Offshore Floating Terminal in Operation
Ikamba – Offshore Floating Terminal in Operation 28 April OFT Ikamba Operational For personal use only Commissioning completed mid June 1,500 tonnes per hour barge unload already achieved Trialling different ways of 2 transhippers working together 27,800 tonnes per day combined already ach
Slide 16: Unique exposure to Australian bauxite at operational inflection point
Unique exposure to Australian bauxite at operational inflection point Rare opportunity for an upstream Critical Minerals portfolio….. 1 Unique to ASX: large scale, 7+ million WMT, low-cost, high-grade, Australian bauxite producer For personal use only 2 Simple Strategy: Execute pathway to lowest cas
Slide 17: For Further Information Contact
For personal use only For Further Information Contact: Investor Relations: Peter Taylor Peter@nwrcommunications.com .au Ph: +61 (0) 4120 3631 Company Secretary: Robin Bates info@metromining.com.au Ph: +61 (0) 7 3009 8000