Tronox Holdings Plc · NYSE:TROX
Tronox — Shareholder Meeting (February 2019)
13 slides from Tronox's shareholder meeting presentation, Feb 8, 2019
Slide 1: Special Meeting of Shareholders: Re-domiciliation from Australia to the UK
Special Meeting of Shareholders:Re-domiciliation from Australia to the UKFebruary 2019
Slide 2: Safe Harbor Statement and Non-U.S. GAAP Financial Terms
Safe Harbor Statement and Non-U.S. GAAP Financial Terms Statements in this presentation that are not historical are forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements, which are su
Slide 3: Tronox at a Glance
Tronox at a Glance We are a vertically integrated mining and inorganic chemical business. We mine titanium ore, zircon and other minerals, and manufacture titanium dioxide (TiO2) pigments that add brightness and durability to paints, plastics, paper, and other everyday products. Locations worldwide,
Slide 4: Overview: Tronox's Special Shareholder Meeting
Overview: Tronox’s Special Shareholder Meeting Why is Tronox holding a special meeting on March 8? Tronox is seeking shareholder approval to re-domicile from Australia to the UKTronox became domiciled in Australia as part of a 2012 acquisition of Exxaro’s South African and Australian mining assetsTr
Slide 5: Governance Feature: Old Tronox vs New Tronox
Governance Feature “Old” Tronox “New” Tronox Ability to buyback stock Stock buybacks cumbersome and difficult to manage (i.e. may require shareowners approval) Board will have authority for open market purchases (including 10b5-1 plans) and the repurchase of shares directly from Exxaro similar to De
Slide 6: Shareholders Should Support the Re-Domicile Transaction
Shareholders Should Support the Re-Domicile Transaction Eliminates our two-class share structureAs part of Mineral Sands Transaction, Exxaro has agreed to hold ordinary common shares, enabling us to eliminate our 2 class structure Facilitates share repurchases, both open market and from ExxaroAu
Slide 7: Recent Financial Performance Versus Peers
Recent Financial Performance Versus Peers Tronox’s three-year TSR against its ISS-selected peer group for 2019 has been strong:TSR ranks at the 87th percentile against ISS peers on an annualized basis from 12/31/2015 to 12/31/2018Given strong TSR performance, Tronox should not expect quantitative co
Slide 8: Executive Compensation: How Our Pay Programs Have Evolved
Executive Compensation How Our Pay Programs Have Evolved Topic What We Have Changed Short-term Performance Metrics For overall Tronox component of bonus (80% of bonus):2018 awards placing additional emphasis on free cash flow (30%) and less emphasis on Adjusted EBITDA (50%) to create a more balanced
Slide 9: Governance Excellence: ESG a Core Tronox Value
Governance Excellence ESG a Core Tronox Value Increasing diversity of Tronox’s Board as part of ongoing Board refreshment effort:Added female board member in early 2018Re-domiciliation transaction will allow addition of second female board memberPreparation of annual GRI sustainability report Safety
Slide 10: Appendix
: Appendix
Slide 11: Tronox Limited LTM Revenue (Non-U.S. GAAP)
TRONOX LIMITED LTM REVENUE (NON-U.S. GAAP) (UNAUDITED) (Millions of U.S. dollars) Nine Months Fourth Quarter 2018 2017 LTM Revenue $ 1,390 $ 464 $ 1,854
Slide 12: Reconciliation of Net Income (Loss) to EBITDA and Adjusted EBITDA
TRONOX LIMITED RECONCILIATION OF NET INCOME (LOSS) TO EBITDA AND ADJUSTED EBITDA (NON-U.S. GAAP) (UNAUDITED) (Millions of U.S. dollars) Nine Months Fourth Quarter 2018 2017 LTM Net income (loss) (U.S. GAAP) $ 24 $ 2 $ 26 Income from discontinued operations, net of tax (U.S. GAAP) - - - Net income (l
Slide 13: Tronox Limited Free Cash Flow (Non-U.S. GAAP)
TRONOX LIMITED FREE CASH FLOW (NON-U.S. GAAP) (UNAUDITED) (Millions of U.S. dollars) The following table reconciles Cash provided by (used in) operating activities, continuing operations, the comparable measure for segment reporting under U.S. GAAP, to free cash flow by segment for the periods prese