Pls Group Limited · ASX:PLS
Pls — Q1 FY2026 Earnings Presentation
21 slides from Pls's earnings presentation, Oct 24, 2025
Slide 1: September Quarter FY26 Activities Presentation
September Quarter FY26 Activities Presentation 24 October 2025 ASX: PLS
Slide 2: Our Purpose
Our Purpose Vision A leader in the provision of materials supporting the global energy transition Mission Powering a sustainable energy future Li Strategic Operate Grow Chemicals Diversify pillars Deliver our Achieve full Extract greater Diversify operating potential of our value along the revenue b
Slide 3: Strategically positioned
Strategically positioned Diversified portfolio, embedded optionality and positioned to capitalise on the market cycle Strategically positioned Exposure to established and ex-China supply chains with flexible operating platform GWANGYANG, SOUTH KOREA POSCO Pilbara Lithium Solution 100% owned assets P
Slide 4: September Quarter highlights
September Quarter highlights A strong start to FY26 Production Pricing Costs Revenue 2% vs June Q 20% vs June Q 13% vs June Q 30% vs June Q 224.8kt US$841/t 1 $540/t $251M produced Avg SC6 equivalent (US$353/t) unit group revenue pricing operating costs (FOB) 1. Average estimated 6% Li2O grade (SC6
Slide 5: Health and safety
Health and safety Building the culture, systems and processes to ensure everyone goes home safely every day 3.08 Total recordable injury 2.95 Quality safety interactions frequency rate (TRIFR)1 completed per 1,000 hours worked2 (target 1.6) 1. Recordable injury numbers and Total Recordable Injury Fr
Slide 6: Pilgangoora Operation
Pilgangoora Operation Pilgan plant operating capability further leveraged to deliver unit cost benefits Key outcomes in the September Quarter performance: Mining • TMM increase due to improved operational efficiencies. • Transition of mining fleet to owner operator ongoing. Processing • Lithium reco
Slide 7: Growth optionality - upstream
Growth optionality - upstream Measured investments provide diversification and future growth optionality Ngungaju Processing Plant • Ngungaju expected to remain in care and maintenance during FY26 - provides flexibility to increase production capacity upon sustained higher lithium pricing. P2000 fea
Slide 8: Growth optionality - chemicals
Growth optionality - chemicals Measured investments provide diversification and future growth optionality POSCO Pilbara Lithium Solution (P-PLS) Lithium Hydroxide chemical facility • 18% interest in lithium hydroxide (LH) facility in Gwangyang, South Korea - nameplate capacity of 43ktpa. • Train 1 p
Slide 9: September Quarter Financials
September Quarter Financials 9
Slide 10: September Quarter FY26 – vs prior quarter
September Quarter FY26 – vs prior quarter Strong revenue growth combined with increasing cost efficiency Category Units Sep Q FY26 Jun Q FY25 % Production volume of 224.8kt was 2% higher than the prior Quarter, driven by strong recovery and Production volume kt 224.8 221.3 2 plant performance. Sales
Slide 11: September Quarter FY26 – cash flow bridge
September Quarter FY26 – cash flow bridge Positive cash margin maintained despite timing impacts Cash flow bridge – 30 June 2025 to 30 September 2025 ($M) Cash balance was $852M, a decline of $122M primarily due to capital expenditure of $78M and working capital 165 timing effects, including ~$50M i
Slide 12: Market update
©®PLS Market update 12
Slide 13: Lithium market – Untamed and evolving
Lithium market – Untamed and evolving An evolving market shaped by volatility, emerging maturity, and rising end-use demand Spodumene concentrate price (SC6.0%, CIF China basis)1 7,500 • Industry emergence - Demand and supply CY2025 price movement growing rapidly from a small base to serve the 1,000
Slide 14: Rapid growth to date
Rapid growth to date EV adoption and global electrification has driven rapid growth of lithium demand to date EV sales (M units)1 BESS demand (GWh)1 Lithium demand by end-use (Kt LCE)1 25 350 1,400 31% CAGR 46% CAGR 96% CAGR 300 20 1,200 250 1,000 15 200 800 150 10 600 100 400 5 50 200 0 0 - 2020 20
Slide 15: Battery Energy Storage: Exceptional growth
Battery Energy Storage: Exceptional growth Battery Energy Storage Systems (BESS) expansion exceeding projections 22% uplift over current Global installed capacity (GW)1 projections2 China energy storage roadmap to 180GW • China’s new ambitious 180GW target by CY27 300 55% CAGR represents a transform
Slide 16: Questions
©®PLS Questions 16
Slide 17: Contacts
Contacts Investor Relations James Fuller Group Manager, Investor Relations T: +61 (0) 488 093 763 James.Fuller@pls.com Media Michael Vaughan Fivemark Partners T: +61 (0) 422 602 720 17
Slide 18: Appendix
©®PLS Appendix 18
Slide 19: Physicals summary
Physicals summary Total Ore Mined and Processed Units Sep Q FY25 Dec Q FY25 Mar Q FY25 Jun Q FY25 Sep Q FY26 Ore mined wmt 1,388,698 1,191,453 1,137,437 1,500,849 1,725,478 Waste material wmt 8,078,567 5,728,569 4,503,580 4,890,456 5,978,805 Total material mined wmt 9,467,266 6,920,022 5,641,017 6,3
Slide 20: Important notices
Important notices This document has been prepared by Pilbara Minerals Limited (PLS or the Group) and is dated 24 October 2025. This document should be read in conjunction with the ASX announcement titled “September Quarterly Activities Report” released to the ASX on 24 October 2025. Not an offer of
Slide 21: Important notices
Important notices Important Information regarding Mineral Resources, Ore Reserves Information in this document regarding production targets and expansions in nameplate capacity of the Pilgangoora Operation in respect of the P850 and P1000 operating models and the P2000 expansion project, are underpi