Slide 1: 29Metals Limited Investor Presentation
29Metals Limited Investor Presentation June 2022
Slide 2: Important information
Important information The information in this presentation has been derived from material publicly released by 29Metals and is provided for informational purposes only and may be changed or updated without notice. The information presented should not be used for any purpose other than gaining genera
Slide 3: Important information
Important information PRESENTATION CURRENCY AND ROUNDING 29Metals functional currency is Australian dollars (‘A$’). Unless otherwise stated, all financial information in this presentation is in A$. Financial information in this presentation is subject to rounding. MINERAL RESOURCES AND ORE RESERVES
Slide 4: Overview
Overview Our vision is to be a leading ASX-listed copper producer, developer and explorer, offering investors exposure to attractive market dynamics for copper and other metals critical to the global energy transition 29 Cu Copper 30 27 Zn Zinc Co1 Cobalt Highly experienced Board and management team
Slide 5: Sustainability & ESG
Sustainability & ESG 29Metals recognise that commitment to Sustainability & ESG are crucial to having a successful business that generates sustainable returns Safe and Responsible Partnering inclusive environmental with workplace stewardship stakeholders 29Metals’ first Sustainability & ESG report
Slide 6: Corporate Snapshot
Corporate Snapshot Board Members Owen Hegarty OAM Peter Albert Fiona Robertson Jacqui McGill AO Martin Alciaturi Chair, Non-exec. Director Managing Director & Independent Non-exec. Independent Non-exec. Independent Non-exec. CEO Director Director Director Management Team Ed Cooney Peter Herbert Clif
Slide 7: Portfolio
Portfolio Substantial copper producer, with all assets in Tier 1 jurisdictions Production from Golden Grove and Capricorn Copper, both with long mine lives, production growth opportunities and significant resource extension potential, plus Redhill in Chile providing a strategic landholding in the la
Slide 8: Mar-Qtr 2022 Highlights
Mar-Qtr 2022 Highlights Solid production result in challenging conditions Health & safety Production Operations Operated safely 9.3kt Cu, 12.2kt Zn Operational de-risking TRIFR 1 of 13.3 Improved on the prior corresponding Golden Grove (GG) paste plant construction period (7.2kt Cu, 7.7kt Zn) LTIFR
Slide 9: Corporate and 2021 Snapshot
Corporate and 2021 Snapshot Key performance snapshot (2021A vs 2021 Prospectus 29Metals capitalisation forecast, pro forma) 6 A$ 68kt 41kt YTD share price range 1 $/sh $2.21 – $3.25 Cu-eq production 4 Cu production 4 Shares on Issue (SOI) m 481 Result Result Market Cap 2 $m $1,334 Forecast 67kt Fore
Slide 10: Golden Grove
Golden Grove World-class VHMS geological system Asset Overview Location Western Australia Mining method Underground, long hole open stoping Commercial production Commenced in 1990 Mine life 10+ years Copper concentrate, zinc concentrate, high precious metals Product concentrate Tonnes Cu Zn Au Ag Pb
Slide 11: In-mine and Near-mine Growth
In-mine and Near-mine Growth Golden Grove long-section 1 World-class VHMS with multiple ore sources and diversified production Advancing and developing known targets Significant untested exploration potential, both along strike and at depth Potential 3rd Mining Front Existing Operations Xantho
Slide 12: Capricorn Copper
Capricorn Copper High-grade copper operation in a Tier 1 jurisdiction Asset Overview Capricorn Copper Project Location Queensland, Australia Mining method Underground, sub-level caving and long hole open stoping Commercial production Large scale mining commenced in 1970 Mine life 10+ years Product C
Slide 13: In-mine and Near-mine Growth
In-mine and Near-mine Growth Capricorn Copper Five known orebodies: Multiple mining fronts and orebodies 1,858km2 of highly prospective, under- provide scheduling flexibility and blending optimisation ESS, Mammoth and Greenstone in production. Esperanza and Pluto in LOM plan explored tenements
Slide 14: 2021 Metal Production and Sales Mix
2021 Metal Production and Sales Mix Copper dominant profile with meaningful by-product production Sales mix (2021) 1, 2 Metal production (2021 and 2022 guidance) 1, 3 Golden Grove Copper (kt) Zinc (kt) Silver, 7% 55 – 65 39 – 46 41 48 Gold, 14% Lead, Copper, Group 43% 12kt 1% 9kt Silver, 5% Zinc, 20
Slide 15: Execute Our Plan
Execute Our Plan Opportunities Progress in 2021 Priorities in 2022 Deliver operating plan Pro forma Cu-eq 1 production – 68kt Transition to higher grades at ESS sub-level cave Commenced production at XE at GG Complete Hougomont-Oizon-Xantho Extended decline (the ‘HOX Link’) Pro forma EBITD
Slide 16: Deliver Organic Growth
Deliver Organic Growth Opportunities Progress in 2021 Priorities in 2022 Commencement of paste-fill operations at GG Productivity and Completion and commissioning of triple sequential flotation at GG Increase stope intervals to 45m at XE operational improvements Ventilation upgrades at GG an
Slide 17: Redhill
Redhill 2022 field campaign underway to define future drilling program Field sampling using portable drills and high- resolution drone-based magnetic surveys Collected rock samples along strike of the Gorda, Christina, and Cutters veins, with assay results pending Drone mounted high-resolution
Slide 18: Net Drawn Debt
Net Drawn Debt 1, 2 Low leverage creates foundation for growth Refinance of debt facilities completed in 2021 – greater flexibility at a lower cost of funding Low leverage with Net Drawn Debt 1, 2 to 2021 Pro forma EBITDA 1, 3 of 0.05x Strong cash position to support growth ambitions and futur
Slide 19: Appendix
Appendix
Slide 20: Guidance
Guidance FY2022 Group guidance Group guidance 1, 2 Unit 2021A 3 Q1 2022A FY2022 guidance 4 Production Copper kt 41 9 39 – 46 Zinc kt 48 12 55 – 65 Overall, expecting year-on-year improvement in Gold koz 36 5 27 – 34 production output in 2022 Silver koz 1,766 339 1,370 – 1,640 Lead kt 2 0 2–3 5 Costs
Slide 21: Production Guidance
Production Guidance 1 Improvement in metal production in FY2022 at both operating mines Golden Grove Capricorn Copper FY2022 FY2022 Guidance 1 Unit 2021A 2 Q1 2022A Guidance 1 Unit 2021A 2 Q1 2022A guidance guidance Production 3 Production 3 Ore mined kt 1,525 399 1,450 – 1,650 Ore mined kt 1,772 41
Slide 22: Financials Metrics Guidance
Financials Metrics Guidance 1 FY2022 Unit 2021A 2 Commentary guidance Depreciation & Amortisation 3 $m $100 135 – 155 Reflects inclusion of a full year of Capricorn Copper results in FY2022 and acquisition accounting Mine development amortisation on units of production (‘UOP’) basis over estimat
Slide 23: Definitions of Non-IFRS Financial Information Metrics
Definitions of Non-IFRS Financial Information Metrics METRIC DEFINITION AISC is all-in sustaining costs, and is calculated as C1 Costs plus royalties cost, corporate costs, sustaining capital and capitalised development costs, but excludes growth capital and exploration. AISC is cited per pound of p
Slide 24: Group Mineral Resources and Ore Reserves Estimates
Group Mineral Resources and Ore Reserves Estimates 1 Mineral Resources Mineral Resources estimates at the Group level are the aggregation of Mineral Resources estimates for Golden Grove, Capricorn Copper and Redhill. Mineral Resources have been depleted for production to 31 December 2021 and are rep
Slide 25: Group Mineral Resources and Ore Reserves Estimates
Group Mineral Resources and Ore Reserves Estimates 1 Ore Reserves Ore Reserves estimates at the Group level are the aggregation of Ore Reserves estimates for Golden Grove and Capricorn Copper. Ore Reserves have been depleted for production to 31 December 2021 and are reported as at that date 2021 20
Slide 26: Unlocking value to empower the future
Unlocking value to empower the future 26