Slide 1: Q2 and H1 2022 Financial Results
Q2 and H1 2022 Financial Results Premier pure-play copper producer in Europe 10 August 2022
Slide 2: Disclaimer
Disclaimer The information contained in this document (“Presentation”) has been prepared by Atalaya Mining Plc (the “Company”). While the information contained herein has been prepared in good faith, neither the Company nor any of its shareholders, directors, officers, agents, employees or advisers
Slide 3: Q2 and H1 2022 Financial Results
Q2 and H1 2022 Financial Results
Slide 4: Review of H1 2022
Review of H1 2022 ‒ Copper production of 24,847 tonnes, following good Q2 performance ‒ AISC of $3.45/lb, due to high electricity prices, input cost inflation and soft Q1 production ‒ New full year guidance of 52,000 – 54,000 tonnes and AISC of $3.25 – 3.45/lb, reflecting actual realised electricity
Slide 5: Q2 2022 Production Results
Q2 2022 Production Results Strong throughput and recoveries helped to offset lower copper grades Ore Throughput (Mt) Copper production 13,386 tonnes Cu 14,353 tonnes Cu | Q2 2021 Throughput & recoveries 4.0 Mt ore processed 0.39% Cu ore grade Copper Recovery 4.0 Mt | Q2 2021 0.42% | Q2 2021 86.44% C
Slide 6: Q2 2022 Financial Results
Q2 2022 Financial Results Impacted by provisional pricing adjustments, high input costs and capital investments Revenues (€m) Income statement highlights Revenue: €93.4m(1) Op. costs: €(78.7)m €99.7m | Q2 2021 €(47.8)m | Q2 2021 EBITDA: €14.7m Profits: €11.8m €52.0m | Q2 2021 €32.3m | Q2 2021 Cash f
Slide 7: H1 2022 Financial Results
H1 2022 Financial Results Continued balance sheet strength following period of lower cash flow & investments Income statement highlights Revenue: €179.7m Op. costs: €(138.3)m €197.1m | H1 2021 €(97.7)m | H1 2021 EBITDA: €41.4m Profits: €30.1m €99.4m | H1 2021 €66.0m | H1 2021 Cash flow statement hig
Slide 8: Energy Market Update
Energy Market Update Electricity prices remain high, although gas price cap has modestly improved the situation Monthly Arithmetic Average Electricity Price (€/MWh)(1)(2) ▪ Market electricity prices in Spain have moderated since reaching unprecedented levels in March 2022 of >€500/MWh ‒ Q1 2022 avg:
Slide 9: Input Cost Inflation
Input Cost Inflation Prices of key consumables remain well above historical levels Indexed Prices (Dec-2020 = 100) Explosives Diesel Tires Electricity Steel Balls Lime 9
Slide 10: Revised 2022 Guidance
Revised 2022 Guidance Reflects H1 results and continued expectations for high electricity prices & inflation Operational Guidance ▪ Production ‒ Guidance was revised in Q2 2022 Ore mined Mt 15.5 Operations Update ‒ Reflects lost production in Q1 2022 and expectations for grade for Waste mined Mt 23.
Slide 11: 2022 Interim Dividend
2022 Interim Dividend Dividend Policy Announced in 2021 2022 Interim Dividend ▪ Atalaya’s Philosophy: ▪ US$0.036 per ordinary share ‒ Reward shareholders through a sustainable ‒ Equivalent to ~3 pence per ordinary share dividend policy, while still investing in its ‒ Total payment of ~€5 million por
Slide 12: Strategic Focus
Strategic Focus
Slide 13: Strategic Focus
Strategic Focus Advance Expected Deliver Project Pipeline Benefits Future Re-Rating ▪ 50 MW solar plant ▪ Reduced cost structure ▪ Reduced cash costs & AISC ‒ Plus: evaluate further ‒ Lower electricity prices renewable energy ‒ Realise synergies & options economies of scale ▪ Increased production ▪
Slide 14: 50 MW Solar Plant
50 MW Solar Plant Expected to provide stable, low cost and carbon-free energy beginning in Q2 2023 50 MW of combined capacity 14
Slide 15: Additional Renewable Energy Options
Additional Renewable Energy Options Other renewable energy options, including wind and pumped hydro, are being explored Potential Location of Wind Turbines Illustration of Potential Wind Turbines 15
Slide 16: E-LIX System
E-LIX System Phase I Plant development underway and expected to reduce costs & unlock value Concentrate Warehouse at Pilot Plant Copper Electrolyte & Copper / Zinc Precipitate Copper Cathode, Zinc Cathode & Zinc Ingot 16
Slide 17: San Dionisio Deposit
San Dionisio Deposit West extension of Cerro Colorado pit expected to deliver higher grades to the plant Aerial Plan View of Pit Rim Vertical Section of Economic Shell 17
Slide 18: Proyecto Masa Valverde
Proyecto Masa Valverde PEA, permitting process and exploration are key areas of focus Wireframes of Mineral Resource Estimate Planned Ramp Access Masa Valverde Ramp Majadales Majadales Masa Valverde 18
Slide 19: Proyecto Touro
Proyecto Touro Water treatment plant is operational and will address legacy water runoff issues 19
Slide 20: Appendix
Appendix
Slide 21: Key Information
Key Information Capitalisation Share Price Performance (GBp) Ticker - LSE: AIM ATYM Ticker - TSX AYM Share price (05-Aug-22) GBp 290 Basic shares m 139.9 Fully-diluted shares m 143.4 Market capitalisation (basic) £m 406 Market capitalisation (basic) US$m $493 Cash (at 30-Jun) €m 127 Debt (at 30-Jun)
Slide 22: Inaugural Sustainability Report
Inaugural Sustainability Report Atalaya has demonstrated its firm commitment to enhancing its disclosure and reporting 2021 Atalaya Mining plc Sustainability Report ▪ In April 2022, Atalaya published its inaugural sustainability report ‒ Statistics and data were for the year ended 31 December 2021 ‒
Slide 23: AISC Benchmarking
AISC Benchmarking Despite adverse impact of electricity prices in Europe, Atalaya is well-positioned vs. peers Reported AISC (US$/lb) Source: Company filings Note: Peers that do not disclose AISC include Central Asia Metals, Ero Copper, Sandfire and Taseko 23
Slide 24: Reserves and Resources
Reserves and Resources Attributable Grade Contained Metal Contained Metal Asset Ownership Tonnage Cu Zn Pb Au Ag Cu Zn Pb Au Ag CuEq Cu CuEq Notes Mt g/t g/t Mt Mt Mt Moz Moz Mt Mt Mt Cerro Colorado 100% Reserves 185.7 0.38% - - - - 0.7 - - - - 0.7 0.7 0.7 M&I 200.7 0.37% 0.15% 0.03% - - 0.7 0.3 0.1
Slide 25: Contacts
Contacts Atalaya Mining plc Investor Relations Alberto Lavandeira, CEO Carina Corbett, 4C Communications Ltd +34 959 59 28 50 +44 20 3170 7973 info@atalayamining.com corbett@4ccommunications.com Restricted & confidential