Pls Group Limited · ASX:PLS
Pls — Pilbara Minerals — Shareholder Meeting (September 2021)
35 slides from Pls's shareholder meeting presentation, Sep 29, 2021
Slide 1: Positioned for the future – 2021 General Meeting
For personal use only Positioned for the future 2021 General Meeting Wednesday 29 September 2021 ASX: PLS
Slide 2: Important Notices
Important Notices Not an Offer of Securities This document has been independently prepared by Pilbara Minerals Limited (“Pilbara” or “Pilbara Minerals” or the “Company”) and is dated 29 September 2021. This document is provided for informational purposes and does not constitute or contain an offer,
Slide 3: Important Notices – Mineral Resources and Ore Reserves
For personal use only Important Notices Mineral Resources and Ore Reserves Recipients of this presentation outside Australia should note that it is a requirement of the Australian Securities Exchange listing rules that the reporting of ore reserves and mineral resources in Australia comply with the
Slide 4: Important Notices – No new information
For personal use only Important Notices No new information – Pilgan Plant and Operation (formerly Pilgangoora Plant and Operation) In respect of the Pilgan Operation, information concerning the current ore reserve estimates, production targets and forecast information derived from the production tar
Slide 5: Board and Executive
Board and Executive For personal use only Tony Kiernan Sally-Anne Layman Steve Scudamore Nick Cernotta CHAIRMAN DIRECTOR DIRECTOR DIRECTOR Ken Brinsden Alex Eastwood Brian Lynn Dale Henderson MANAGING DIRECTOR COMPANY SECRETARY CHIEF FINANCIAL CHIEF OPERATING & CEO & GENERAL COUNSEL OFFICER OFFICER
Slide 6: Agenda
Agenda For personal use only 1. Introduction by Chair 2. Meeting procedures 3. Resolutions, proxies and voting 4. Company and project update 5. Questions 6
Slide 7: Agenda – Introduction by Chair
Agenda For personal use only 1. Introduction by Chair 2. Meeting procedures 3. Resolutions, proxiesIntroduction and voting by Chair 4. Company and project Tony Kiernan update 5. Questions 7
Slide 8: Introduction by Chair
Introduction by Chair For personal use only Meeting procedures Resolutions, proxies and voting Company and project update Questions 8
Slide 9: Online Attendees – Text Question Process
ONLINE ATTENDEES – TEXT QUESTION PROCESS 123-456-789 For personal use only When the question function is available, the messaging tab will appear at the top of the screen To submit a question, type your question in the “Ask a question” box and press the send arrow Your question will be sent immediat
Slide 10: Online Attendees – Audio Question Process
ONLINE ATTENDEES – AUDIO QUESTION PROCESS 123-456-789 For personal use only When the audio questions line is available, a link will appear on the home tab titled Asking Audio Questions If you would like to ask an audio question, pause the meeting broadcast and click on the link You will be prompted
Slide 11: Online Attendees – Voting
ONLINE ATTENDEES – VOTING 123-456-789 For personal use only When open, the vote will be accessible by selecting the voting tab at the top of the screen To vote simply select the direction in which you would like to cast your vote. The selected option will change colour For Against Abstain There is n
Slide 12: Resolutions, proxies and voting
Introduction by Chair For personal use only Meeting procedures Resolutions, proxies and voting Company and project update Questions 12
Slide 13: Overview of proxy votes
Overview of proxy votes For personal use only Resolution FOR AGAINST ABSTAIN DISCRETIONARY Resolution 1 – Ratification of the issue of Tranche 1 1,382,331,366 5,057,437 10,479,015 6,249,936 Deferred Consideration Shares 99.19% 0.36% N/A 0.45% Resolution 2 – Issue of Tranche 2 Deferred 1,381,306,762
Slide 14: Resolution 1 – Ratification of Tranche 1 Deferred Consideration Shares
Resolution 1 For personal use only Ratification of the Issue of Tranche 1 VOTING NUMBER % Deferred Consideration INTENTION Shares For 1,382,331,366 99.19% Discretionary 6,249,936 0.45% To consider and, if thought fit, to pass with or without PROXY VOTES amendment, as an ordinary resolution the follo
Slide 15: Resolution 2 – Issue of Tranche 2 Deferred Consideration Shares
For personal use only Resolution 2 Issue of Tranche 2 Deferred Consideration VOTING INTENTION NUMBER % Shares For 1,381,306,762 99.12% Discretionary 6,509,675 0.47% PROXY VOTES To consider and, if thought fit, to pass with or without Against 5,807,693 0.41% amendment, as an ordinary resolution the f
Slide 16: Resolution 3 – Ratification of Issue of Placement Shares
For personal use only Resolution 3 Ratification of Issue of Placement Shares VOTING INTENTION NUMBER % For 1,059,131,177 86.04% Discretionary 6,556,218 0.53% PROXY VOTES Against 165,308,247 13.43% To consider and, if thought fit, to pass with or without amendment, as an ordinary resolution the follo
Slide 17: Resolution 4 – Adoption of a new Constitution
For personal use only Resolution 4 Adoption of a new VOTING Constitution INTENTION NUMBER % For 1,245,840,701 89.35% Discretionary 6,574,115 0.47% PROXY VOTES To consider and, if thought fit, to pass with or without Against 142,013,528 10.18% amendment, as a special resolution the following: Total v
Slide 18: Resolution 5 – Increase in Aggregate Fee Pool for Non-Executive Directors
For personal use only Resolution 5 Increase in the Aggregate Fee Pool for Non-Executive VOTING INTENTION NUMBER % Directors For 1,365,336,523 98.03% Discretionary 6,529,021 0.47% To consider and, if thought fit, to pass with or without PROXY VOTES amendment, as an ordinary resolution the following:
Slide 19: Company and project update
Introduction by Chair For personal use only Meeting procedures Resolutions, proxies and voting Company and project update Questions 19
Slide 20: It's been a big year for Pilbara Minerals
29 September 2021 Corporate Presentation It’s been a big year for Pilbara Minerals For personal use only World’s largest One operation with ASX200 Growth and independent two processing ~$6B market cap diversification hard rock lithium plants opportunities operation 20
Slide 21: One operation, two processing plants
29 September 2021 Corporate Presentation One operation, two processing plants For personal use only Targeting expanded production capacity to 560-580,000 tpa spodumene concentrate by mid-CY2022, maximising participation in rapid demand growth • Products: ‐ ~5.5% - 6% Li2O spodumene concentrate ‐ +5%
Slide 22: Market Growth
For personal use only Market Growth UK and Europe • World’s largest EV market in 2020 • A market that will be dominated by high- nickel cathode batteries driving lithium hydroxide demand China • EV sales strong • Addressable market growth, domestic China - LFP ‘pack’ technology - Stationary storage
Slide 23: Market Growth – Industry Trends
High-nickel cathode materials monthly production (tonne) Rising demand for materials needed for renewable energy and e-mobility Future demand (2030 and 2050) as a multiple of current demand* For personal use only Market Growth Industry Trends • Spodumene chemical conversion direct to lithium hydroxi
Slide 24: Rapid re-emergence from moderated production
29 September 2021 Corporate Presentation Rapid re-emergence from moderated production For personal use only Steady increase in production during second half of FY2021 in response to increasing customer demand. (FY2021 production 281.1kt, FY2021 shipments 281.4kt) 100,000 95,972 90,000 80,000 77,820
Slide 25: FY2021 Production and Sales; Financial Result
For personal use only 29 September 2021 Corporate Presentation FY2021 Production and Produced – Shipped – Sales – Sales 281,098 dmt 281,440 dmt $175.8M Spodumene concentrate FY2021 Financial Cash Gross Margin of Unit Cash Operating Cost Result Impacted by: $46.2M2 $519/dmt CIF China3 • Improved marg
Slide 26: Cash Flow Waterfall
For personal use only 29 September 2021 Corporate Presentation Cash Flow Waterfall 1 Cash balance increased by $13.4M to $99.7M at 30 June 2021. Significant cashflow movements: • net $36.0M inflow associated with operating activities (being receipts of $158.6M and costs paid to suppliers and employe
Slide 27: FY2022 Guidance – Production and Sales
Production and Sales Spodumene Concentrate Forecast production - Forecast shipments - 460-510,000 dmt For personal use only 440-490,000 dmt Unit Cash Operating Cost FY2022 Guidance Target beyond FY2023 FY2022 A$525-A$575/dmt CIF China (US$395 -US$430/dmt1) Costs are expected to be higher during FY20
Slide 28: Upstream expansion strategy
29 September 2021 Corporate Presentation Upstream expansion strategy For personal use only Flexible growth pathway to capture growing demand in the market and increase revenue Spodumene Concentrate SC6 (ktpa) Pilgangoora asset supports: • phased expansion up to and beyond ~1Mtpa in in production cap
Slide 29: Battery Material Exchange (BMX) Summary
29 September 2021 Corporate Presentation Battery Material Exchange (“BMX”) Summary For personal use only BMX1 -Inaugural online auction of spodumene concentrate delivers outstanding success 10,000 dmt spodumene 62 online bids from 17 five individual groups bid Letter of Credit concentrate (SC5.5%) i
Slide 30: Battery Grade Chemicals Price vs Contributing Cost
For personal use only 29 September 2021 Corporate Presentation Battery Grade Chemicals Price (Ex-Works China) vs Contributing Cost 30000 GLX platform designed to efficiently support the ‘spot 25000 sales’ market opportunity Cost/Margin/Price (per tonne LCE) 20000 Sept 2021 BMX Sales price/cost 15000
Slide 31: Current market pricing
29 September 2021 Corporate Presentation Current market pricing For personal use only On the 29th of July 2021, Pilbara Minerals held its inaugural BMX auction of 10kt SPC 5.5% and achieved a price of US$1,250/dmt (FOB). Equivalent to USD$1,400+/dmt (SC6.0, CFR China basis) 31
Slide 32: A diversified product suite
A diversified product suite Positioning to capture value throughout the entire lithium raw For personal use only material and chemical supply chain Upstream Midstream Downstream Spodumene Lithium Salts Lithium Fine Concentrate 6% Li20 >35% Li20 Chemicals Pilgangoora Scoping Study e.g. Potential JV O
Slide 33: Midstream – JV with Calix: Value-Added Green Products
29 September 2021 Corporate Presentation Midstream – JV with Calix (ASX:CXL) Exploring Value-Added Green Products (Lithium Salts) For personal use only Conventional spodumene supply chain: Chemical Plant Battery / Cathode Mine site (converter) maker • Carbon intensive (hard rock concentrator) • Alum
Slide 34: Questions
Introduction by Chair For personal use only Meeting procedures Resolutions, proxies and voting Company and project update Questions 34
Slide 35: Thank you for your support
For personal use only Thank you for your support Follow us on pilbaraminerals.com.au | ASX: PLS
Pilbara Minerals — Shareholder Meeting (September 2021) on 6ix