Slide 1: First Quarter 2018 Conference Call
First Quarter 2018 Conference Call May 10, 2018 © 2018 Tronox Limited | All rights reserved | www.tronox.com
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: First Quarter 2018 Highlights
First Quarter 2018 Highlights • Significant progress toward closing Cristal acquisition – European Commission conditional clearance now only dependent on reaching agreement on proposed remedy to address remaining objection; negotiating with potential counterparties regarding execution of proposed re
Slide 4: TiO2 Commercial Performance
TiO2 Commercial Performance First Quarter 2018 vs First Quarter 2017 USD millions 1Q18 1Q17 Change Price and Volume Changes Price Volume TiO2 Revenue 442 378 17% Pigment 25% (2%) Pigment 333 272 22% Feedstock & Co-products 97 92 5% Feedstock and co-products 34% (22%) Zircon 61 50 22% Zircon 52% (20%
Slide 5: TiO2 Commercial Performance
TiO2 Commercial Performance First Quarter 2018 vs Fourth Quarter 2017 USD millions 1Q18 4Q17 Change Price and Volumes Changes Price Volume TiO2 Revenue 442 464 (5%) Pigment 3% 2% Pigment 333 316 5% Feedstock & Co-products 97 133 (27%) Feedstock & Co-products 10% (34%) Zircon 61 67 (9%) Zircon 12% (1
Slide 6: TiO2 Operations Performance
TiO2 Operations Performance 1Q 2018 vs 1Q 2017 and 4Q 2017 USD millions 1Q18 1Q17 Change USD millions 1Q18 4Q17 Change Adjusted EBITDA 138 85 62% Adjusted EBITDA 138 156 (12%) • All mines and plants operating at full capacity; record pigment production in March • Adjusted EBITDA margin of 31%; stron
Slide 7: Financial Position
Financial Position USD millions March 31, 2018 USD millions 2018 Outlook Gross Consolidated Debt 3,146 (1) Cash interest, net 165 Capital expenditures 120-130 Debt net of cash/cash equivalents 1,419 (2) DD&A 180-200 Blended cost of debt 5.82% Cash taxes 20 Cash and cash equivalents 1,727 (2) Note: a
Slide 8: 2018 Perspectives
2018 Perspectives • Significant progress toward closing Cristal acquisition – European Commission conditional clearance now only dependent on reaching agreement on proposed remedy to address remaining objection – Negotiating with potential counterparties regarding execution of proposed remedy – Moti
Slide 9: Q&A Session
Q&A Session www.tronox.com © 2018 Tronox Limited | All rights reserved | www.tronox.com 9
Slide 10: Appendix
Appendix © 2018 Tronox Limited | All rights reserved | www.tronox.com
Slide 11: Reconciliation of Non-U.S. GAAP Financial Measures
Reconciliation of Non‐U.S. GAAP Financial Measures © 2018 Tronox Limited | All rights reserved | www.tronox.com 11
Slide 12: Reconciliation of Net Income (Loss) to EBITDA and Adjusted EBITDA (non-U.S. GAAP)
Reconciliation of Net Income (Loss) to EBITDA and Adjusted EBITDA (non‐U.S. GAAP) © 2018 Tronox Limited | All rights reserved | www.tronox.com 12
Slide 13: Reconciliation of Net Income (Loss) to Adjusted EBITDA (non-U.S. GAAP)
Reconciliation of Net Income (Loss) to Adjusted EBITDA (non‐U.S. GAAP) © 2018 Tronox Limited | All rights reserved | www.tronox.com 13